We explore empirically the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In particular, we investigate whether entrepreneurship and institutions, either independently or in combination in an ecosystem, represent the “missing link” in explaining...

Based on a multilevel analysis of nearly 120,000 observations across 31 countries between 2001 and 2008, we provide novel insights into the moderating effects that economic inequality may have on the distinct roles that human and financial capital play on different types of entrepreneurship. As...

This paper extends the (Lucas, Bell J Econ 9:508-523,1978) model of occupational choices by individuals with different skills, beyond the simple options of self-employment or wage-employment, by including a second choice for the self-employed. That is, an option to hire employees and so become...

This paper investigates the extent to which productivity growth is the result of firm turnover as output is shifted from one firm to another, driven by the competitive process. Turnover occurs as some firms gain market share and others lose it. Some of the resulting turnover is due to entry and...

In this paper we extend models of market equilibrium from binary occupational choices of people with different entrepreneurial ability, to the realistic case that entrepreneurs can decide whether they hire workers and become employers or whether they become own account self-employed. We find...

We explore empirically the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In particular, we investigate whether entrepreneurship and institutions, either independently or in combination in an ecosystem, represent the “missing link” in explaining...

We develop a taxonomy – Oxford Venture Ecosystem Taxonomy (OVET) -- to classify technology startup ventures along six dimensions: 1) the area of work, 2) purpose of technology use, 3) types of clients, 4) value capture strategy, 5) founder and funder characteristics, and 6) geographical...

This paper introduces a new concept in addition to the traditional measures of stocks of capital, labor, human capital and knowledge, to understand the Solow Residual: National Entrepreneurial Ecosystem (NEE). The NEE construct is based on a methodology that combines institutions and human...

What factors drive the scaling up of firms in entrepreneurial ecosystems? We address this question by investigating whether startup founders' within-ecosystem social ties explain firms' relative success. We develop a novel database of startup companies and their founders in two markets (fintech...

Entrepreneurship in most advanced economies is in decline. This comes as a surprise: many scholars have expected an upsurge in entrepreneurship. What are the reasons for the decline? In this paper I first document the extent of the decline in terms of entrepreneurial entry rates; the share of...