Max-Planck-Institut für Ökonomik, Jena >
Discussion Papers on Entrepreneurship, Growth and Public Policy, MPI für Ökonomik >
Please use this identifier to cite or link to this item:
| || |
|Title:||The missing link: the knowledge filter and entrepreneurship in endogenous growth |
|Authors:||Ács, Zoltán J.|
Audretsch, David B.
|Issue Date:||2005 |
|Series/Report no.:||Papers on entrepreneurship, growth and public policy 0805|
|Abstract:||The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant knowledge. This Paper develops a model that introduces a filter between knowledge and economic knowledge and identifies entrepreneurship as a mechanism that reduces the knowledge filter. A cross-country regression analysis over the period 1981-2001 provides empirical support for the model. We conclude that public policies facilitating knowledge spillovers through entrepreneurship may be an important new approach to promoting economic growth.|
innovation and entrepreneurship
|Document Type:||Working Paper|
|Appears in Collections:||Discussion Papers on Entrepreneurship, Growth and Public Policy, MPI für Ökonomik|
Download bibliographical data as:
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.