The relationship between economic development and business ownership revisited

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dc.contributor.authorCarree, Martin
dc.contributor.authorvan Stel, André
dc.contributor.authorThurik, A. Roy
dc.contributor.authorWennekers, Sander
dc.date.accessioned2009-11-11T10:08:56Z
dc.date.available2009-11-11T10:08:56Z
dc.date.issued2007-08
dc.description.abstractThis paper revisits the two-equation model of Carree, van Stel, Thurik and Wennekers (2002) where deviations from the ‘equilibrium’ rate of business ownership play a central role determining both the growth of business ownership and that of economic development. Two extensions of the original setup are addressed: using longer time series of averaged data of 23 OECD countries (up to 2004) we can discriminate between different functional forms of the ‘equilibrium’ rate and we allow for different penalties for being above or under the ‘equilibrium’ rate. The additional data do not provide evidence of a superior statistical fit of a U-shaped ‘equilibrium’ relationship when compared to an L-shaped one. There appears to be a growth penalty for having too few business owners but not so for having too many.en_UK
dc.identifier.citationMartin Carree, André van Stel, Roy Thurik and Sander Wennekers, The relationship between economic development and business ownership revisited. RP 8/07, Cranfield University School of Managementen_UK
dc.identifier.isbn185905188X
dc.identifier.urihttp://hdl.handle.net/1826/3944
dc.language.isoenen_UK
dc.publisherCranfield University School of Managementen_UK
dc.relation.ispartofseriesResearch Paper Seriesen_UK
dc.relation.ispartofseriesRP 8/07en_UK
dc.subjectEntrepreneurshipen_UK
dc.subjectEconomic developmenten_UK
dc.subjectEconomic growthen_UK
dc.subjectBusiness ownershipen_UK
dc.titleThe relationship between economic development and business ownership revisiteden_UK
dc.typeWorking Paperen_UK

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