The management function of entrepreneurs and countries’ productivity growth

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Abstract:

This article examines the determinants of the equilibrium number of entrepreneurs and the level of productivity in economies where individuals make occupational choices between being self-employed or working as an employee. The results of the theoretical model explain some observed empirical regularities, such as the negative association between productivity and self-employment rates in cross-country data. The article also derives and empirically tests an unexplored relationship between entrepreneurship and economic growth, in the form of a positive association between productivity growth in t and the proportion of the self-employed in t − 1, providing a new perspective on cross-country productivity convergence over time.

Keywords: D23; J24; L26; O47; OECD countries; convergence; entrepreneurial skills; management services; occupational choices; productivity growth

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036846.2012.663476

Affiliations: Faculty of Economics,University of Zaragoza, Gran Via, 2, Zaragoza 50005, Spain

Publication date: June 1, 2013

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