Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109078
Authors: 
Henrekson, Magnus
Sanandaji, Tino
Year of Publication: 
2014
Series/Report no.: 
IFN Working Paper 1049
Abstract: 
The overwhelming majority of self-employed individuals are not entrepreneurial in the Schumpeterian sense. To unmistakably identify Schumpeterian entrepreneurs, we focus on self-made billionaires (in USD) from the Forbes Magazine list who became wealthy by founding new firms. In this way, we identify 996 billionaire entrepreneurs in over fifty countries during the 1996-2010 period. Interestingly, the rate of billionaire entrepreneurs per capita correlates negatively with self-employment rates. Countries with higher incomes, higher trust, lower taxes, more venture capital investment and lower regulatory burdens have higher entrepreneurship rates but less self-employment. Europe has a higher self-employment rate than the United States and East Asia. At the same time, Europe has a lower entrepreneurship rate than competitor regions. Europe underperforms in entrepreneurship despite having advantages such as a skilled labour force, good infrastructure, large markets and strong performance in technological innovation.
Subjects: 
Entrepreneurship
Innovation
Institutions
Regulation
Self-employment
JEL: 
L50
M13
O31
P14
Document Type: 
Working Paper

Files in This Item:
File
Size
603.51 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.