Imitation, Entrepreneurship, and Long-Run Growth
Despite the widespread belief that entrepreneurship is a key factor in economic development, there have been few attempts to develop formal models to analyze the phenomenon. This paper presents a model in which endogenous entrepreneurial activity is a key determinant of economic growth. The theory a...
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| Veröffentlicht in: | The Journal of political economy 1989-06, Vol.97 (3), p.721-739 |
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| container_end_page | 739 |
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| container_title | The Journal of political economy |
| container_volume | 97 |
| creator | Schmitz, James A. |
| description | Despite the widespread belief that entrepreneurship is a key factor in economic development, there have been few attempts to develop formal models to analyze the phenomenon. This paper presents a model in which endogenous entrepreneurial activity is a key determinant of economic growth. The theory also differs from standard models in that growth is driven by the imitative activities of entrepreneurs. Previous theories have focused on the direct production of knowledge, underemphasizing the importance of imitation in the growth process. The paper also examines external effects arising from these entrepreneurial activities--effects distinct from those studied by Paul Romer. |
| doi_str_mv | 10.1086/261624 |
| format | Article |
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| identifier | ISSN: 0022-3808 |
| ispartof | The Journal of political economy, 1989-06, Vol.97 (3), p.721-739 |
| issn | 0022-3808 1537-534X |
| language | eng |
| recordid | cdi_proquest_miscellaneous_60876696 |
| source | Worldwide Political Science Abstracts; Periodicals Index Online; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Applied economics Economic conditions Economic externalities Economic growth models Economic growth theories Economic modeling Economic models Economic theory Entrepreneur Entrepreneurs Entrepreneurship Growth Imitations Modeling Political Economy |
| title | Imitation, Entrepreneurship, and Long-Run Growth |
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