The knowledge spillover theory of entrepreneurship

• Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. Although the entrepreneurship literature treats opportunities as exogenous, the prevailing theory of economic growth suggests they are endogenous. This paper advances the microeconomic foundations of endogenous growth theory by developing a knowledge spillover theory of entrepreneurship. Knowledge created endogenously results in knowledge spillovers, which allow entrepreneurs to identify and exploit opportunities.

Keyword

Opportunity

Knowledge

Entrepreneurship

Endogenous growth

Start-ups

New product innovation

research-and-development

patent citations

economic-growth

united-states

firm size

enterprises

productivity

technology

inventions

employment

Publication and Content Type

ref (subject category)

art (subject category)