Contemporary theories of entrepreneurship generally focus on the decision-making context of the individual. The recognition of opportunities and the decision to commercialize them is the focal concern. While the prevalent view in the entrepreneurship literature is that opportunities are...

According to its proponents, the `new economy' is associated with sustainable growth, increased demand for labor and zero inflation. On the micro-level, this bright avenue into the future is propelled by knowledge capital, flexibility and new ways of organizing production, such as clusters and...

1. The Challenge -- 2. Theories of Growth, Innovation, and Entrepreneurship -- 3. Promoting Entrepreneurship and Innovation—The Institutional Framework -- 4. Policies to Stimulate Innovation and Entrepreneurship -- 5. Tax Policy to Stimulate Innovation and Entrepreneurship -- 6. Conclusions: A...

The Industrial Organization literature has long been concerned about the discrepancy between the theoretical assumptions of equalization of profits among firms and the lack of empirical support. To sort out this contradiction, this paper defines a knowledge stock derived from investments in R &...

According to the knowledge-based spillover theory of entrepreneurship (KSTE), entrepreneurship is positively associated with the knowledge endowment level. An increase in knowledge expands the opportunity set, which is then exploited by heterogeneous entrepreneurs. The objective of this paper is...