Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: The entrepreneur is an elusive character in economic theory due to the difficulty of providing an accurate description. It appears impossible to produce a single definition of entrepreneurship and most theoretical approaches yield operational difficulties. By the same token, most operational definitions are incomplete and cover only single parts of the concept. Numerous empirical studies have examined the effects of entrepreneurship, but few studies have been undertaken in order to summarise the empirical evidence and synthesize the theoretical framework and the empirical results. The objective of this paper is to provide a critical overview of recent empirical research on the relationship between entrepreneurship and economic growth.

Keywords: Economic Growth; Innovation; Competition; Start-ups; Entrepreneurship

JEL-codes: L10; M13; O31; O40

27 pages, November 24, 2004

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