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| Content Provider | Springer Nature Link |
|---|---|
| Author | Audretsch, David B. Keilbach, Max |
| Copyright Year | 2004 |
| Abstract | While the neoclassical growth theory considered economic growth as a process of mere accumulation of production capital, the endogenous growth theory shifted the lens to the importance of knowledge in the production process and its potential to create spillovers. We argue in this paper that there is a gap between knowledge and exploitable knowledge or economic knowledge. Economic knowledge emerges from a selection process across the generally available body of knowledge, actively driven by economic agents. This paper suggests that entrepreneurship is an important mechanism in driving that selection process hence in creating diversity of knowledge, which in turn serves as a mechanism facilitating the spillover of knowledge. We provide empirical evidence that regions with higher levels of entrepreneurship indeed exhibit stronger growth in labor productivity. |
| Starting Page | 605 |
| Ending Page | 616 |
| Page Count | 12 |
| File Format | |
| ISSN | 09369937 |
| Journal | Journal of Evolutionary Economics |
| Volume Number | 14 |
| Issue Number | 5 |
| e-ISSN | 14321386 |
| Language | English |
| Publisher | Springer-Verlag |
| Publisher Date | 2004-01-01 |
| Publisher Place | Berlin, Heidelberg |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Regional growth Labor productivity Entrepreneurship capital Selection process Economics general Economic Theory International Economics |
| Content Type | Text |
| Resource Type | Article |
| Subject | Economics and Econometrics Business, Management and Accounting |
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