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Entrepreneurship and economic growth : why is New Zealand an outlier? A preliminary analysis

Frederick, Howard 2005, Entrepreneurship and economic growth : why is New Zealand an outlier? A preliminary analysis, in Proceedings of the 2005 Enterprise and Innovation Research Conference, University of Waikato, Hamilton, N.Z..

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Title Entrepreneurship and economic growth : why is New Zealand an outlier? A preliminary analysis
Author(s) Frederick, Howard
Conference name Creating an entrepreneurial nation : the role of enterprise and innovation : Enterprise and Innovation Research Conference (2005 : Hamilton, N.Z.)
Conference location Hamilton, N.Z.
Conference dates 7-8 July, 2005
Title of proceedings Proceedings of the 2005 Enterprise and Innovation Research Conference
Editor(s) Clark, Delwyn N.
Publication date 2005
Conference series Enterprise and Innovation Research Conference
Publisher University of Waikato
Place of publication Hamilton, N.Z.
Keyword(s) entrepreneurship
economic development
New Zealand
GEM
Summary The literature indicates that entrepreneurship and economic growth are closely and positively associated. For four years running, New Zealand has had the developed world’s highest rate of “Total Entry-Level Entrepreneurial Activity” (Acs et al. 2005; Frederick et al. 2004; Reynolds et al., 2004), yet it has slid to the lower ranks in the OECD in measures of economic development. At its level of entrepreneurial activity, New Zealand should have a higher level of economic development if it were to emulate other countries.

We make use of the Global Entrepreneurship Monitor data set, including nascent entrepreneurship rates for 45 countries over the 2000-2004 period as well as variables from standardised national statistics.

The paper uses two approaches. This research first finds evidence for “U-shaped curve” associating entrepreneurship with economic growth. It notes that New Zealand has the greatest deviation from this association compared to other developed countries with similar entrepreneurial rates (e.g. United States, Australia and Iceland). The second approach looks at nascent entrepreneurship as a function of non-economic conditions such as technology, demography, culture and institutions.

This short paper develops the hypotheses and carries out the “U-shaped curve” test. For the time being it leaves the factor analysis of non-economic conditions for another opportunity.
ISBN 9780476014022
0476014026
Language eng
Field of Research 150304 Entrepreneurship
HERDC Research category E1.1 Full written paper - refereed
Copyright notice ©2005, University of Waikato
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022211

Document type: Conference Paper
Collections: School of Management and Marketing
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.