pay a penalty in terms of forgone growth. It also pays attention to the Global Entrepreneurship Monitor (GEM), a new and … change has had consequences for the current policy debate on the determinants of economic growth. Our paper deals with some … aspects of the recent scientific literature on the relation between entrepreneurship and small business, on the one hand, and …

countries. First, the concepts of uncertainty and risk are elaborated, as well as theirrelevance for entrepreneurship. Second … (uncertaintyavoidance) may have a diverging impact on entrepreneurship. Possibly, a climate of uncertainty avoidancein large organizations …, suggesting that risingopportunity costs of entrepreneurship are the dominant perception in this cultural environment. In a …

unemployment in Japan. The question is to what extent business ownership, i.e., entrepreneurship, can reduce the level of … replaced with a market environment conducive to the establishment and growth of entrepreneurial firms. The underestimation of …

‘equilibrium’ rate of business ownership play a central role determining both the growth of business ownership and that of economic … fit of a U-shaped ‘equilibrium’ relationship when compared to an L-shaped one. There appears to be a growth penalty for …

economic growth? Hypotheses concerning all three issues are formulated setting up a new two-equation model. We findconfirmation …

models based on the established literature. Traditionally, entrepreneurship is not dealt with in these models. In the present … paper it is shown that – when this variable is added - in all models there is a significant influence of entrepreneurship … while the remaining effects mainly stay the same. Entrepreneurship is measured as the business ownership rate (number of …

Eurobarometer survey on Entrepreneurship” covering the 25 European Union member states and the United States. The most surprising of …