The level of entrepreneurship differs considerably across countries and periods. Both thecauses and consequences of entrepreneurship are a matter of extensive scientific debate aswell as of great policy importance. A high level of entrepreneurial activity is assumed andshown to contribute to...

This 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...