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Entrepreneurship, Economic Growth and Policy in Emerging Economies

TLDR
In this article, a clear and organized view of what the determinants and consequences of entrepreneurship are is provided with a particular view on emerging economies, which can be best understood using the model of the Entrepreneurial Economy which explains the functioning of the modern economy.
Abstract
textEntrepreneurship has emerged as an important element in the organization of economies. This emergence did not occur simultaneously in all developed countries. Differences in growth rates are often attributed to differences in the speed with which countries embrace entrepreneurial energy. This led to the political mandate to promote entrepreneurship. Hence, a clear and organized view is needed of what the determinants and consequences of entrepreneurship are. The present contribution tries to provide this view with a particular view on emerging economies. Entrepreneurship, its drivers and its consequences can be best understood using the model of the Entrepreneurial Economy which explains the functioning of the modern economy. This model differs from that of the earlier Managed Economy. Policies in emerging economies should aim at combining the two models.

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Citations
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Entrepreneurship, economic growth, and innovation: Are feedback effects at work?

TL;DR: In this article, a Schumpeterian approach considering three equations linking GDP, innovation, and entrepreneurship facilitates the analysis of entrepreneurial activity in 13 developed countries, for the period 2002 to 2007.
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Businessman or host? Individual differences between entrepreneurs and small business owners in the hospitality industry.

TL;DR: In this article, the authors found that entrepreneurs possessed higher levels of independence, tolerance of ambiguity, risk-taking propensity, innovativeness, and leadership qualities, but not of market orientation and self-efficacy.

License to fail? How leader group prototypicality moderates the effects of leader performance on perceptions of leadership effectiveness

TL;DR: In this paper, the authors proposed that leader group prototypicality and performance information interact to predict followers' perceptions of leadership effectiveness, and they found support for their predictions in a scenario experiment, a cross-sectional field study, and a laboratory experiment.
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Entrepreneurship and unemployment: A nonlinear bidirectional causality?

TL;DR: In this article, the authors test the view that the relation between unemployment and entrepreneurship is dynamic and possibly nonlinear, and they perform Granger-causality tests and STAR-EXT estimation to assess the causality direction and the nonlinear nature of the relation for a set of OECD countries.
References
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Posted Content

An Evolutionary Theory of Economic Change

TL;DR: In this paper, the authors developed an evolutionary theory of the capabilities and behavior of business firms operating in a market environment, including both general discussion and the manipulation of specific simulation models consistent with that theory.
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The Nature of the Firm

Ronald H. Coase
- 01 Nov 1937 - 
TL;DR: In this paper, it is shown that a definition of a firm may be obtained which is not only realistic in that it corresponds to what is meant by a firm in the real world, but is tractable by two of the most powerful instruments of economic analysis developed by Marshall, the idea of the margin and that of substitution.
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A Contribution to the Theory of Economic Growth

TL;DR: In this paper, a model of long run growth is proposed and examples of possible growth patterns are given. But the model does not consider the long run of the economy and does not take into account the characteristics of interest and wage rates.

The mechanics of economic development

Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
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Increasing Returns and Long-Run Growth

TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
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