Knowledge plays a critical role in economic development, still our understanding of how knowledge is created, diffused and converted into growth, is fragmented and partial. The neoclassical growth models disregarded the entrepreneur and viewed knowledge as an exogenous factor. Contemporary...

Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. While the prevailing view in the entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of economic growth suggests that...