Entrepreneurship may not be good for growth. We study the role of entrepreneurship in the context of an endogenous growth model. the exercise of entrepreneurship has two features in our model: (i) Entrepreneurs do not carry out research, instead, they select projects from the researchers, and...

This paper offers a synthesis of two Schumpeterian views: that growth is driven by innovation, and that the level of financial market development affects the growth process. We adopt an endogenous growth model where growth is driven by R&D activities of entrepreneurs. Entrepreneurs must borrow...