Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24359
Authors: 
Audretsch, David B.
Keilbach, Max
Year of Publication: 
2002
Series/Report no.: 
ZEW Discussion Papers 02-76
Abstract: 
The neoclassical model of the production function, as applied by Robert Solow to build 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 link it to output in the context of a production function model. This paper explains what is meant by entrepre-neurship 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 sug-gest a new direction for policy that focuses on instruments to enhance entrepreneurship capital.
Subjects: 
Production Function
Entrepreneurship Capital
Regional Economic Performance
JEL: 
M13
O32
O47
Document Type: 
Working Paper

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