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...

This paper examines the relationship between entrepreneurship (as measured by fluctuations in the business ownership rate) and unemployment in Japan for the period between 1972 and 2002. We find that, although Japan’s unemployment rate has been influenced by specific exogenous shocks, the...

Total factor productivity of twenty OECD countries for a recent period (1971-2002) is explained using six different models based on the established literature. Traditionally, entrepreneurship is not dealt with in these models. In the present paper it is shown that – when this variable is added...

The extent of beta- and sigma-convergence of average labor productivity across manufacturing industries in 18 OECD-countries over the period 1972-1992 show large inter-industry differences. One reason for these differences is knowledge and capital barriers preventing catch-up to occur. We find...

In the present paper we address the relationship between the extentof business ownership (self-employment) and economic development. We will focusupon three issues. First, how is the equilibrium rate of business ownershiprelated to the stage of economic development? Second, what is the speed...

This paper deals with the influence of cultural attitudes towards uncertainty on the level of businessownership across countries. First, the concepts of uncertainty and risk are elaborated, as well as theirrelevance for entrepreneurship. Second, cross-sectional regression analysis using data for...

This note investigates the impact of changes in the number of business owners on three measures of economic performance, viz. employment growth, GDP growth and labor productivity growth. Particular attention is devoted to the lag structure. The analysis is performed at the country level for 21...

This paper investigates the dynamic relationship between self-employment and unemployment rates. On the one hand, high unemployment rates may lead to start-up activity of self-employed individuals (the “refugee” effect). On the other hand, higher rates of self-employment may indicate...