This study questions the assumption that entrepreneurship unequivocally leads to economic growth. Using insights from institutional theory and development economics, we reevaluate entrepreneurship’s contribution towards economic growth. Our study uses Global Entrepreneurship Monitor (GEM) data...

Economies have markedly different firm size distributions. At the same time, firms of different size grow differently after identical financial- and product-market liberalization reforms. Thus, identical reforms can produce different growth outcomes across countries. This result is reached after...

Producing high-quality products incurs higher costs but provides greater consumption benefits, placing a challenge in measuring firm capability when output quality differs. Using a unique panel that contains a direct measure of scientific output quality, we introduce a quality-adjusted...

Can policymakers improve macroeconomic performance by encouraging the entry of high-performance startups? To answer this question, we construct a novel and comprehensive data set on 1.3 million startups in ten European countries. We apply cluster analysis to identify distinct startup types and...

How much can policymakers improve macroeconomic outcomes by encouraging the entry of high-performance startups? We construct a novel and comprehensive data set on almost 1,5 million startup firms in ten European countries. We then apply cluster analysis to identify distinct startup types and...

Can policymakers improve macroeconomic performance by encouraging the entry of high‑performance start‑ups? To answer this question, we construct a novel and comprehensive data set on 1.3 million start‑ups in 10 European countries. We apply cluster analysis to identify distinct start‑up...

The EU has experienced different options to support the emergence of champions: (i) targeted support for strategic sectors and large technology initiatives (e.g. Airbus, Ariane, HDTV and ESPRIT); (ii) a support of declining sectors with the ECSC Treaty; and (iii) an emphasis on horizontal...

The Europe's 2020 Strategy clearly outlines the ambition for EU member states to pursue a smart, sustainable and inclusive growth: this means designing a the strategy that aims at achieving a socio-ecological transition by fostering economic growth as well as social development (e.g. with...

The Baltic economies were severely hit by the global financial crisis. Gross Domestic Product has contracted considerably. Naturally, it asked what went wrong with the "Baltic economic model". This paper surveys the programme of comprehensive economic reforms in the Baltic countries (the case of...

The Europe's 2020 Strategy clearly outlines the ambition for EU member states to pursue a smart, sustainable and inclusive growth: this means designing a the strategy that aims at achieving a socio-ecological transition by fostering economic growth as well as social development (e.g. with...