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dc.contributor.authorvan Praag, C. Mirjamen_US
dc.contributor.authorVersloot, Peter H.en_US
dc.date.accessioned2007-10-23en_US
dc.date.accessioned2009-07-27T09:39:23Z-
dc.date.available2009-07-27T09:39:23Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/25625-
dc.description.abstractThis paper examines to what extent recent empirical evidence can collectively and systematically substantiate the claim that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question: What is the contribution of entrepreneurs to the economy in comparison to non-entrepreneurs? We study the relative contribution of entrepreneurs to the economy based on four measures that have most widely been studied empirically. Hence, we answer the question: What is the contribution of entrepreneurs to (i) employment generation and dynamics, (ii) innovation, and (iii) productivity and growth, relative to the contributions of the entrepreneurs’ counterparts, i.e. the ‘control group’? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals’ utility levels. Based on 57 recent studies of high quality that contain 87 relevant separate analyses, we conclude that entrepreneurs have a very important – but specific – function in the economy. They engender relatively much employment creation, productivity growth and produce and commercialize high quality innovations. They are more satisfied than employees. More importantly, recent studies show that entrepreneurial firms produce important spillovers that affect regional employment growth rates of all companies in the region in the long run. However, the counterparts cannot be missed either as they account for a relatively high value of GDP, a less volatile and more secure labor market, higher paid jobs and a greater number of innovations and they have a more active role in the adoption of innovations.en_US
dc.language.isoengen_US
dc.publisherUniversität Jena und Max-Planck-Institut für Ökonomik Jenaen_US
dc.relation.ispartofseriesJena economic research papers 2007,061en_US
dc.subject.jelD24en_US
dc.subject.jelD31en_US
dc.subject.jelE23en_US
dc.subject.jelE24en_US
dc.subject.jelJ21en_US
dc.subject.jelJ28en_US
dc.subject.jelJ31en_US
dc.subject.jelL26en_US
dc.subject.jelM13en_US
dc.subject.keywordentrepreneuren_US
dc.subject.keywordentrepreneurshipen_US
dc.subject.keywordself-employmenten_US
dc.subject.keywordproductivityen_US
dc.subject.keywordeconomic developmenten_US
dc.subject.keywordgrowthen_US
dc.subject.keywordemploymenten_US
dc.subject.keywordinnovationen_US
dc.subject.keywordpatentsen_US
dc.subject.keywordR&Den_US
dc.subject.keywordutilityen_US
dc.subject.keywordremunerationen_US
dc.subject.keywordincomeen_US
dc.subject.stwUnternehmeren_US
dc.subject.stwSelbstständigeen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwBeschäftigungseffekten_US
dc.subject.stwInnovationen_US
dc.titleWhat is the value of entrepreneurship?: a review of recent researchen_US
dc.typeWorking Paperen_US
dc.identifier.ppn547173849en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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