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Entrepreneurship and economic development: the valley of backwardness

Acs, Zoltan J. (2010) Entrepreneurship and economic development: the valley of backwardness. Annals of Innovation and Entrepreneurship, 1 (1). ISSN 2000-7396

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Identification Number: 10.3402/aie.v1i1.5641


This paper identifies the impact of productive, unproductive, and destructive entrepreneurship on social value creation. The paper constructs a Global Entrepreneurship and Development Index (GEDI) that captures the contextual feature of entrepreneurship across countries. We find the relationship between entrepreneurship and economic development to be mildly S-shaped. It is seen that the stages of development are more varied at the innovation-driven stage than at either the factor-driven stage or the efficiency-driven stage. Implications for public policy suggest that institutions need to be strengthened before entrepreneurial resource can be fully deployed.

Item Type: Article
Official URL:
Additional Information: © 2010 The Author
Divisions: Management
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: O - Economic Development, Technological Change, and Growth > O1 - Economic Development
Date Deposited: 10 Apr 2014 10:20
Last Modified: 06 Sep 2021 23:16

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