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Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
Papers on Entrepreneurship, Growth and Public Policy No. 0104
Verlag: 
Max Planck Institute for Research into Economic Systems, Jena
Zusammenfassung: 
The neoclassical model of the production, as applied by Robert Solow to built the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor, entrepreneurship capital and why it should influence economic output. A production function model including several different measures of entrepreneurship capital is then estimated for german regions. The results indicate that entrepreneurship capital is a significant and important factor shaping output and productivity. These results suggest a new direction for policy that focuses on instruments to enhance entrepreneurship capital.
JEL: 
O47
O32
M13
Dokumentart: 
Working Paper

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