transformation pressure generalizes the idea that productivity growth in firms is promoted by intense competition, cost pushes and … or the stimulation of individual creativity when firms are put under real pressure. But productivity growth is not always … promoted by tight external circumstances. Growth may be maximized if pressure in each period is moderate or if periods with …

rationalisations. The theory generalises the idea that productivity growth in firms is stimulated by intense competition, cost …, irrational behaviour or that firms become more creative when they are put under real pressure. Productivity growth is not always … promoted by tight external circumstances. Growth may be maximised if pressure in each period is moderate or if periods with …

, including the downside semideviation of growth rates. Financial sophis- tication variables are found to have qualitatively …

been conducive to economic growth and job creation. Our empirical analysis links the stage of the transition towards an … entrepreneurial economy to the growth rates of European countries over a recent period. We find that those countries that have … introduced a greater element of entrepreneurship have been rewarded with additional growth. …

been conducive to economic growth and job creation. Our empirical analysis links the stage of the transition towards an … entrepreneurial economy to the growth rates of European countries over a recent period. We find that those countries which have … introduced a greater element of entrepreneurship have been rewarded with additional growth. …