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| Author: | Praag, C. M. van Versloot, P. H. |
| Title: | What is the value of entrepreneurship? A review of recent research |
| Journal: | Small business economics
2007 : DEC, VOL. 29:4, p. 351-382 |
| Index terms: | economic development employment entrepreneurship innovation productivity self-employment |
| Language: | eng |
| Abstract: | This paper aims to investigate the empirical evidence base of the claim that entrepreneurship has significant economic value by examining the relative contribution of entrepreneurs to the economy in comparison to non-entrepreneurs. The authors offer a systematic review to analyze entrepreneurs' contribution to employment generation and dynamics, innovation and productivity, and growth relative to the 'control group'. In addition, the role of entrepreneurship in increasing individuals' utility levels is explored. Based on 57 recent studies, the results suggest that the entrepreneurs have a significant, but specific, role in the economy which consist of creating employment, contributing to productivity growth, producing high-quality innovations and, more importantly, producing sifnificant spillovers as well. |
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