Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers
Increasingly, entrepreneurship is being discussed and considered as a source of high economic growth and competitiveness. A conceptual process of creative construction that characterizes the dynamics between entrants and incumbents can prove quite...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110727092420 http://hdl.handle.net/10986/3502 |
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okr-10986-35022021-04-23T14:02:10Z Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers Laborda, Leopoldo Guasch, Jose Luis Sotelsek, Daniel ABSORPTIVE CAPACITY AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY ANIMAL PRODUCTS BENEFICIAL EFFECTS BIOTECHNOLOGY BOUNDARIES BUSINESS ENTRY BUSINESSES CAPABILITIES CAPABILITY CAPABILITY ENHANCEMENT CAPITAL EXPENDITURES CD COMPETENCIES COMPETITIVE ADVANTAGE COMPETITIVENESS COMPETITORS CONCEPTUAL FRAMEWORK CONSTANT RETURNS TO SCALE CONTRACTUAL AGREEMENTS CONVERGENCE HYPOTHESIS CUSTOMER SERVICES DEVELOPMENT POLICY DISCUSSIONS DISTRIBUTED LAGS DYNAMIC ANALYSIS E-MAIL ECONOMETRICS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC THEORY ECONOMICS ELASTICITY EMPLOYMENT EMPLOYMENT CREATION ENERGY RESOURCES ENTERPRISE SECTOR ENTREPRENEURIAL OPPORTUNITIES EQUIPMENT EQUIPMENTS EXCHANGE RATES EXISTING KNOWLEDGE EXPORTS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FUTURE RESEARCH GDP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS VALUE GROWTH MODELS GROWTH RATE GROWTH THEORY HANDICRAFTS HUMAN CAPITAL IDEA IDEAS INEFFICIENCY INHERITANCE INNOVATION INNOVATIONS INSIGHTS INTELLECTUAL PROPERTY INTERNATIONAL COMPETITIVENESS KNOWLEDGE TRANSFER LABOR FORCE LABOR ORGANIZATION LABOUR LEADING LEARNING MANUFACTURING MANUFACTURING INDUSTRIES MEDIUM ENTERPRISE NATURAL RESOURCES NETWORKS NEW TECHNOLOGY OPEN ACCESS OUTPUTS OUTSOURCING PERFORMANCES PHONE POLITICAL ECONOMY POSITIVE EFFECTS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT INNOVATIONS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY R&D REAL GDP RESULT RESULTS SIDE EFFECTS SILICON SOCIAL CAPITAL SOFTWARE PRODUCTION SUPPLY CHAIN TECHNICAL SUPPORT TECHNOLOGY TRANSFER TEXTILES TIME PERIODS TRADE DEFICIT TRANSMISSION UNEMPLOYED UNIVERSITIES USE OF KNOWLEDGE USES VALUE ADDED WEALTH WEALTH CREATION WEB WOOD Increasingly, entrepreneurship is being discussed and considered as a source of high economic growth and competitiveness. A conceptual process of creative construction that characterizes the dynamics between entrants and incumbents can prove quite useful to analyze the impact of countries' entrepreneurship capital on economic performance and can be a guide for economic policy. This paper applies a Stochastic Frontier Analysis approach to test the hypothesis that entrepreneurship capital promotes economic performance by serving as a conduit of knowledge spillovers. In addition, kernel density functions are employed to analyze convergence (or divergence) in the efficiency estimated for individual countries. The empirical evidence and results here tend to support the hypothesis. Specifically, the empirical analysis shows that the rate of expenditure on research and development in relation to new businesses registered has a positive and significant effect in increasing technical efficiency. These factors facilitate the dissemination of existing knowledge, develop entrepreneurship capital, and thus provide the missing link to economic performance -- entrepreneurship capital. The authors also show the trends and dynamics of changes in countries technical efficiency. 2012-03-19T18:03:36Z 2012-03-19T18:03:36Z 2011-07-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110727092420 http://hdl.handle.net/10986/3502 English Policy Research Working Paper ; No. 5739 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ABSORPTIVE CAPACITY AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY ANIMAL PRODUCTS BENEFICIAL EFFECTS BIOTECHNOLOGY BOUNDARIES BUSINESS ENTRY BUSINESSES CAPABILITIES CAPABILITY CAPABILITY ENHANCEMENT CAPITAL EXPENDITURES CD COMPETENCIES COMPETITIVE ADVANTAGE COMPETITIVENESS COMPETITORS CONCEPTUAL FRAMEWORK CONSTANT RETURNS TO SCALE CONTRACTUAL AGREEMENTS CONVERGENCE HYPOTHESIS CUSTOMER SERVICES DEVELOPMENT POLICY DISCUSSIONS DISTRIBUTED LAGS DYNAMIC ANALYSIS ECONOMETRICS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC THEORY ECONOMICS ELASTICITY EMPLOYMENT EMPLOYMENT CREATION ENERGY RESOURCES ENTERPRISE SECTOR ENTREPRENEURIAL OPPORTUNITIES EQUIPMENT EQUIPMENTS EXCHANGE RATES EXISTING KNOWLEDGE EXPORTS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FUTURE RESEARCH GDP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS VALUE GROWTH MODELS GROWTH RATE GROWTH THEORY HANDICRAFTS HUMAN CAPITAL IDEA IDEAS INEFFICIENCY INHERITANCE INNOVATION INNOVATIONS INSIGHTS INTELLECTUAL PROPERTY INTERNATIONAL COMPETITIVENESS KNOWLEDGE TRANSFER LABOR FORCE LABOR ORGANIZATION LABOUR LEADING LEARNING MANUFACTURING MANUFACTURING INDUSTRIES MEDIUM ENTERPRISE NATURAL RESOURCES NETWORKS NEW TECHNOLOGY OPEN ACCESS OUTPUTS OUTSOURCING PERFORMANCES PHONE POLITICAL ECONOMY POSITIVE EFFECTS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT INNOVATIONS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY R&D REAL GDP RESULT RESULTS SIDE EFFECTS SILICON SOCIAL CAPITAL SOFTWARE PRODUCTION SUPPLY CHAIN TECHNICAL SUPPORT TECHNOLOGY TRANSFER TEXTILES TIME PERIODS TRADE DEFICIT TRANSMISSION UNEMPLOYED UNIVERSITIES USE OF KNOWLEDGE USES VALUE ADDED WEALTH WEALTH CREATION WEB WOOD |
| spellingShingle |
ABSORPTIVE CAPACITY AGRICULTURAL PRODUCTS AGRICULTURE ALLOCATIVE EFFICIENCY ANIMAL PRODUCTS BENEFICIAL EFFECTS BIOTECHNOLOGY BOUNDARIES BUSINESS ENTRY BUSINESSES CAPABILITIES CAPABILITY CAPABILITY ENHANCEMENT CAPITAL EXPENDITURES CD COMPETENCIES COMPETITIVE ADVANTAGE COMPETITIVENESS COMPETITORS CONCEPTUAL FRAMEWORK CONSTANT RETURNS TO SCALE CONTRACTUAL AGREEMENTS CONVERGENCE HYPOTHESIS CUSTOMER SERVICES DEVELOPMENT POLICY DISCUSSIONS DISTRIBUTED LAGS DYNAMIC ANALYSIS ECONOMETRICS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC THEORY ECONOMICS ELASTICITY EMPLOYMENT EMPLOYMENT CREATION ENERGY RESOURCES ENTERPRISE SECTOR ENTREPRENEURIAL OPPORTUNITIES EQUIPMENT EQUIPMENTS EXCHANGE RATES EXISTING KNOWLEDGE EXPORTS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FUTURE RESEARCH GDP GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROSS VALUE GROWTH MODELS GROWTH RATE GROWTH THEORY HANDICRAFTS HUMAN CAPITAL IDEA IDEAS INEFFICIENCY INHERITANCE INNOVATION INNOVATIONS INSIGHTS INTELLECTUAL PROPERTY INTERNATIONAL COMPETITIVENESS KNOWLEDGE TRANSFER LABOR FORCE LABOR ORGANIZATION LABOUR LEADING LEARNING MANUFACTURING MANUFACTURING INDUSTRIES MEDIUM ENTERPRISE NATURAL RESOURCES NETWORKS NEW TECHNOLOGY OPEN ACCESS OUTPUTS OUTSOURCING PERFORMANCES PHONE POLITICAL ECONOMY POSITIVE EFFECTS PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT INNOVATIONS PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY R&D REAL GDP RESULT RESULTS SIDE EFFECTS SILICON SOCIAL CAPITAL SOFTWARE PRODUCTION SUPPLY CHAIN TECHNICAL SUPPORT TECHNOLOGY TRANSFER TEXTILES TIME PERIODS TRADE DEFICIT TRANSMISSION UNEMPLOYED UNIVERSITIES USE OF KNOWLEDGE USES VALUE ADDED WEALTH WEALTH CREATION WEB WOOD Laborda, Leopoldo Guasch, Jose Luis Sotelsek, Daniel Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| relation |
Policy Research Working Paper ; No. 5739 |
| description |
Increasingly, entrepreneurship is being
discussed and considered as a source of high economic growth
and competitiveness. A conceptual process of creative
construction that characterizes the dynamics between
entrants and incumbents can prove quite useful to analyze
the impact of countries' entrepreneurship capital on
economic performance and can be a guide for economic policy.
This paper applies a Stochastic Frontier Analysis approach
to test the hypothesis that entrepreneurship capital
promotes economic performance by serving as a conduit of
knowledge spillovers. In addition, kernel density functions
are employed to analyze convergence (or divergence) in the
efficiency estimated for individual countries. The empirical
evidence and results here tend to support the hypothesis.
Specifically, the empirical analysis shows that the rate of
expenditure on research and development in relation to new
businesses registered has a positive and significant effect
in increasing technical efficiency. These factors facilitate
the dissemination of existing knowledge, develop
entrepreneurship capital, and thus provide the missing link
to economic performance -- entrepreneurship capital. The
authors also show the trends and dynamics of changes in
countries technical efficiency. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Laborda, Leopoldo Guasch, Jose Luis Sotelsek, Daniel |
| author_facet |
Laborda, Leopoldo Guasch, Jose Luis Sotelsek, Daniel |
| author_sort |
Laborda, Leopoldo |
| title |
Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| title_short |
Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| title_full |
Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| title_fullStr |
Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| title_full_unstemmed |
Entrepreneurship Capital and Technical Efficiency : The Role of New Business/Firms as a Conduit of Knowledge Spillovers |
| title_sort |
entrepreneurship capital and technical efficiency : the role of new business/firms as a conduit of knowledge spillovers |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110727092420 http://hdl.handle.net/10986/3502 |
| _version_ |
1764387104240959488 |