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We investigate what determines regions' entrepreneurial behavior and the impact of it on regional economic performance. We argue that economic knowledge differs not only from traditional factors of production due to its public goods characteristic but it is also uncertain. In that perspective, the role of entrepreneurship is to take on the corresponding(More)
The purpose of this paper is to document the fundamental shift that is taking place in OECD countries. This shift is from the managed economy to the entrepreneurial economy. While politicians and policy makers have made a plea for guidance in the era of entrepreneurship, scholars have been slow to respond. This paper attempts to make a first step(More)
Arts and Sciences (KNAW) for financial support. The authors acknowledge the comments of Adam Lederer, Maria Minniti and Lorraine Uhlaner. Starting with the descriptive Thurik (1999), this paper has evolved through many iterations while early versions have been presented at many workshops and conferences. Two anonymous referees provided valuable comments.(More)
This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greater share of economic activity. Not all countries, however, are experiencing the same shift in their industrial structures. Very little is(More)
Association meetings in the session " Government as Venture Capitalist: Evaluating the SBIR Program. " We appreciate the comments and suggestions from participants at that session as well as those from two anonymous referees. The paper is forthcoming in Research Policy. Abstract This paper evaluates public support of private-sector research and development(More)
Questioning the underlying assumptions of the process of creative destruction, we conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. We discuss the underlying mechanism of knowledge spillover strategic entrepreneurship whereby knowledge investments by existing organizations, when(More)