عنوان انگلیسی مقاله:

Entrepreneurship and state economic growth

ترجمه عنوان مقاله: کارآفرینی و رشد اقتصادی دولت

رشته: کارآفرینی

سال انتشار: 2013

تعداد صفحات مقاله انگلیسی: 15 صفحه

منبع: Emerald

نوع فایل: pdf

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چکیده مقاله

Purpose: The purpose of this paper is to test whether entrepreneurship is a significant factor in explaining economic growth at the state level.

Design/methodology/approach: This paper, unlike previous work, uses the Kauffman Index of Entrepreneurial Activity (KIEA) as the measure of entrepreneurial activity. Based on standard growth regressions using real per capita gross state product, real per capita personal income and employment growth, we test for the independent role that entrepreneurial activity may have on state economic growth.

Findings: We find that an increase in the level of entrepreneurial activity is robustly associated with an increase in economic growth. Such findings reinforce calls for policy changes at the state level that promote more productive entrepreneurship.

Research limitations/implications: These conclusions are tentative. The findings are based on the growth of the 50 states over a relatively short period. A longer data set would be preferable, if data were available. Moreover, the author has not attempted to distinguish between different categories of entrepreneurship, for example productive and unproductive entrepreneurship.

Practical implications: Such findings reinforce calls for policy changes at the state level that promote more productive entrepreneurship. This would include, among others, changes such as reducing or eliminating state income taxes and setting strict limits on the government’s use of eminent domain and environmental property takings.

Originality/value: The study uses the Kauffman Index of Entrepreneurial Activity (KIEA), arguably a superior measure of state‐level entrepreneurial activity, to explain state economic growth. The topic is timely and the results have important policy implications.

Keywords: United States of America, State, Economic growth, Entrepreneurialism, Entrepreneurial action, Growth, Local policy, Sub‐national government, Sub‐national policy, Entrepreneurship, Kauffman Index of Entrepreneurial Activity, Economic freedom

Type: Research paper

مقدمه مقاله

The purpose of this paper is to test whether entrepreneurship is a significant factor inexplaining economic growth. This paper differs from much of the previous work in two important ways. First, we focus on the economic growth-entrepreneurship at the state level. The second difference is the measure of entrepreneurship used. Cross-country studies of the growth-entrepreneur relation often rely on large survey-based datasets, such as the Global Entrepreneurship Monitor Consortium (GEM). For subnationalanalysis a common proxy for entrepreneurial activity is some measure of net firm formation[1]. In this paper we measure entrepreneurship using the Kauffman Foundation’s index of entrepreneurial activity (KIEA). Although this measure has been used in studies investigating diversity in entrepreneurship across states (e.g. Goetz, 2008; Hall and Sobel, 2008), we believe that this paper is the first to employ it as a predictor of state economic growth.

The paper proceeds as follows. Section 2 provides a brief overview of the growth model used and a sample of the empirical results using such a model to examine the link between entrepreneurship and economic activity. Section 3 discusses the  used in this study and provides a discussion of the KIEA measure used. Empirical findings are presented in Section 4. Looking forward, we find that in the presence ofa reasonable set of control variables, economic growth at the state level is, on average, positively and significantly related to a state’s level of entrepreneurship. Section 5 closes the paper with conclusions and policy recommendations.

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