Freedom, barriers to entry, entrepreneurship, and economic progress

Sobel, Russell S.; Clark, J. R.; Lee, Dwight R.

doi:10.1007/s11138-007-0023-3

Cited by 139 publications

(79 citation statements)

References 15 publications

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“…The 'innovation' or 'Schumpeterian' approach to economic growth suggests that markets tend toward disequilibrium as entrepreneurs contribute to the market's process of 'creative destruction' with new innovations replacing old technologies (Schumpeter 1934;Sobel et al 2007). Successful regional economies, therefore, are characterised as those associated with efficient innovation systems resulting from high levels of entrepreneurship, while weaker economies are those with failing innovation systems and lower levels of entrepreneurship .…”

Section: Entrepreneurship and Regional Innovationmentioning

confidence: 99%

Entrepreneurship, innovation and regional growth: a network theory

2015

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Despite the growing acknowledgement that entrepreneurship is an important driver of regional innovation and growth, the role of the networks in these processes has been less formally examined. In order to address this gap, this paper proposes that the relationship between entrepreneurship, innovation and regional growth is governed by a series of network dynamics. Drawing upon aspects of endogenous growth theory and the knowledge spillover theory of entrepreneurship, it is proposed that the nature of the networks formed by entrepreneurial firms is a key determinant of regional growth differentials. In particular, network capital, in the form of investments in strategic relations to gain access to knowledge, is considered to mediate the relationship between entrepreneurship and innovation-based regional growth. It is suggested that network dynamics should be further incorporated into theories concerning the link between knowledge spillovers, entrepreneurship and regional growth. The paper concludes with a series of theoretical, entrepreneurial and policy implications emerging from the study.

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Section: Entrepreneurship and Regional Innovationmentioning

confidence: 99%

Entrepreneurship, innovation and regional growth: a network theory

2015

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“…As already explained in the extant literature [16,33], regulatory constraints (e.g., enforcing contracts) could have a negative impact on TEA. Using a sample of twenty-seven Organization for Economic Cooperation and Development (OECD) member countries, Sobel et al [33] showed that barriers to entry and government regulation discourage people from starting a business.…”

Section: Hypothesis 1 (H1) Countries With Greater Access To Financiamentioning

confidence: 86%

“…Using a sample of twenty-seven Organization for Economic Cooperation and Development (OECD) member countries, Sobel et al [33] showed that barriers to entry and government regulation discourage people from starting a business. According to their results, 1% increase in the average tariff rate is associated with an 8% decrease in total entrepreneurial activity (TEA).…”

Section: Hypothesis 1 (H1) Countries With Greater Access To Financiamentioning

confidence: 99%

The Role of Access to Finance in Explaining Cross-National Variation in Entrepreneurial Activity: A Panel Data Approach

Anton

Bostan

2017

Sustainability

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Abstract:The aim of the paper is to investigate to what extent access to finance explains differences in entrepreneurial activity across European Union (EU) member countries. We use a dataset containing information across countries and time to investigate the determinants of entrepreneurial activity in twenty-five EU members over the period between 2007 and 2013. Our sample comprises both periods of difficult access to finance and periods of excessive liquidities. Employing a panel data model with fixed effects, we found a positive relationship between access to finance and entrepreneurial activities. Furthermore, we showed that this positive relationship is more important for the individuals who believe they have the required skills and knowledge to start a business. The results proved to be robust when we employed different measures of entrepreneurial activity and several proxies for access to finance. Our findings provide empirical evidence for the need of policy initiatives at national and EU level to facilitate the creation of sustainable new ventures.

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“…According to Schramm, the degree of economic fluidity has a direct effect on innovation and entrepreneurship. The positive connection between productive entrepreneurship and properly developed institutions is examined by Sobel, Clark and Lee (2007). The close connection between the different elements of economic freedom and that of GEM TEA index is provided in a recent study by McMullen et al (2008).…”

Section: Entrepreneurship-related Institutional/environmental Factorsmentioning

confidence: 99%

The Global Entrepreneurship Index (GEINDEX)

Ács

Szerb

2007

FNT in Entrepreneurship

123

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in The global entrepreneurship index (GEINDEX)April 2009 Zoltán J. Ács George Mason University László Szerb University of Pécs AbstractThis paper constructs a Global Entrepreneurship Index (GEINDEX) that captures the contextual feature of entrepreneurship across countries. We find the relationship between entrepreneurship and economic development to be mildly Sshaped not U-shaped or L-shaped. Our findings suggest moving away from simple measures of entrepreneurship across countries illustrating a U-shaped or L-shaped relationship to more complex measures, which are positively related to economic development. Implications for public policy suggest that institutions need to be strengthened before entrepreneurial resource can be deployed to drive innovation. JEL-classification:L26, O1, O3

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Freedom, barriers to entry, entrepreneurship, and economic progress

Abstract: Entrepreneurship, Creative destruction, Economic freedom, Barriers to entry, H11, L26, F13,

Cited by 139 publications

References 15 publications

Entrepreneurship, innovation and regional growth: a network theory

Entrepreneurship, innovation and regional growth: a network theory

The Role of Access to Finance in Explaining Cross-National Variation in Entrepreneurial Activity: A Panel Data Approach

The Global Entrepreneurship Index (GEINDEX)

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