Entrepreneurship is generally regarded as a force of change, innovation, and development in modern economies. Entrepreneurs bring new and better products to markets, restore allocative efficiency through arbitrage and reinvest their profits. However,

This paper argues that globalization has led to a shift in developed countries from an industrial to an entrepreneurial model of production. Globalization is interpreted as a level shock in the supply of unskilled labor to the world economy, a decrease in the level of political risk associated...

We develop a model in which stronger protection of intellectual property rights has an inverted U-shaped effect on innovation. Intellectual property rights protection allows the incumbent firms to capture part of the rents of commercial exploration that would otherwise accrue to the...

This paper argues that globalization has led to a shift in developed countries from an industrial to an entrepreneurial model of production. Globalization is interpreted as a level shock in the supply of unskilled labor to the world economy, a decrease in the level of political risk associated...

We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods and the quality improvement of existing goods. While the latter is performed by the corporate R+D sector, the first is performed by entrepreneurs. We show that in a three sector...

This paper reassesses the causal relationship between per capita energy use and gross domestic product, while controlling for capital and labour (productivity) inputs in a panel of 30 OECD countries over the past 40years. The paper uses panel unit root and cointegration testing and specifies an...

Industrialization has long been seen as the answer to underdevelopment and poverty. First this led countries to follow protectionist import substitution policies but as these failed developing countries have opened up to trade and FDI and tried to follow strategies of export driven...

There is evidence that entrepreneurial activity plays a non-negligible role in driving economic development. In this paper we investigate whether the industry in which the entrepreneurial activity takes place matters for economic growth, both in developed and developing countries. We distinguish...

Bury is a Metropolitan Borough situated in north Manchester. Whilst the centre and south of the Manchester conurbation have benefited from notable economic growth, this has not been so in the north due to its continued reliance on a depleting manufacturing base. Bury in particular has become...