Scandinavian Working Papers in Economics

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

No 77: The Knowledge Spillover Theory of Entrepreneurship

Zoltan Acs (), David Audrestch , Pontus Braunerhjelm () and Bo Carlsson ()
Additional contact information
Zoltan Acs: George Mason University, School of Public Policy
David Audrestch: Indiana University, School of Environmental and Public Affairs
Pontus Braunerhjelm: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, Postal: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, SE-100 44 Stockholm, Sweden
Bo Carlsson: Case Western Reserve University, Weatherhead School of Management, Department of Economics

Abstract: Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. While the prevailing view in the entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of economic growth suggests that opportunities are endogenous. This paper bridges the gap between the entrepreneurship and economic growth literatures by developing a knowledge spillover theory of entrepreneurship. Knowledge created endogenously results in knowledge spillovers that give rise to opportunities to be identified and exploited by entrepreneurs.

Keywords: Opportunity; knowledge; entrepreneurship; knowledge filter

JEL-codes: J24; M13; O31; R10

37 pages, January 10, 2007

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