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- Eliasson, Gunnar, et al.
(författare)
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William J. Baumol : An entrepreneurial economist on the economics of entrepreneurship
- 2004
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Ingår i: Small Business Economics. - 0921-898X .- 1573-0913. ; 23:1, s. 1-7
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- William J. Baumol is the 2003 winner of the International Award for Entrepreneurship and Small Business Research. Throughout his career Baumol has urged the profession to pay attention to the instrumental role of entrepreneurship in economic renewal and growth. At the same time he has insisted that economists continue to use their usual tool box when the purview of analysis is extended to entrepreneurship. Hence, Baumol can be characterized as a revolutionary from within. In this article we present and discuss Baumol's research contribution in the areas of entrepreneurship and small business economics, notably from a growth perspective. In addition to placing his work in these areas into the wider context of his full contribution, we emphasize Baumol's findings that growth cannot be explained by the accumulation of various factors of production per se; human creativity and productive entrepreneurship are needed to combine the inputs in profitable ways. As a result, an institutional environment that encourages productive entrepreneurship and human experimentation becomes the ultimate determinant of economic growth.
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| 2. |
- Fölster, Stefan, et al.
(författare)
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Growth effects of government expenditure and taxation in rich countries
- 2001
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Ingår i: European Economic Review. - : Elsevier B.V. - 0014-2921 .- 1873-572X. ; 45:8, s. 1501-1520
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Tidskriftsartikel (refereegranskat)abstract
- A number of cross-country comparisons do not find a robust negative relationship between government size and economic growth, In part, this may reflect the prediction in economic theory that a negative relationship should exist primarily for rich countries with large public sectors. In this paper an econometric panel study is conducted on a sample of rich countries covering the 1970-1995 period. Extended extreme bounds analyses are reported based on a regression model that tackles a number of econometric issues. Our general finding is that the more the econometric problems are addressed, the more robust the relationship between government size and economic growth appears. Our most complete specifications are robust even according to the stringent extreme bounds criterion.
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