articleSmall Business EconomicsDec 12, 2008HYBRID OA

The knowledge spillover theory of entrepreneurship

ZJZoltán J. ÁcsPBPontus BraunerhjelmDBDavid B. AudretschBCBo Carlsson

George Mason University · KTH Royal Institute of Technology · +2 more institutions

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Abstract

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.

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Topics & keywords

Topics
Keywords
  • Entrepreneurship
  • Exploit
  • Knowledge spillover
  • Endogenous growth theory
  • Spillover effect
  • Economics
  • Growth theory
  • Focus (optics)
UN Sustainable Development Goals
  • Decent work and economic growth
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