6533b86ffe1ef96bd12ce83b
RESEARCH PRODUCT
Entrepreneurial capital and productive efficiency: the case of the Spanish regions
Bernardí Cabrer-borrásPaz Ricosubject
Productive efficiencyLabour economicsHF5001-6182total factor productivity05 social sciencesEconomic growth development planningentrepreneurshipeconomic growthpanel dataCapital (economics)0502 economics and businessHD72-88EconomicsBusinessnew businesses050207 economicsproductive efficiency050203 business & managementFinancedescription
The aim of this paper is to analyse the interrelation between entrepreneurial capital and productive efficiency of the Spanish regions while verifying the importance that business dynamics and entrepreneurial activity have on regional economic growth. For this purpose, data are used from the seventeen Spanish regions during the period 2003−2016. A multi-equation model is estimated that enables the analysis, on the one hand, of the existence of a causal relationship between business dynamics and entrepreneurial activity and, on the other hand, of these variables on the total factor productivity. The results lead to the conclusion that the entrepreneurial activity and the net creation of companies have a positive effect on productive efficiency and can explain the differences in the economic growth of the regions. In addition, the stock of human capital, the promotion of innovation and the degree of technological innovation act as catalysts for the productive efficiency of the regions. Finally, the results verify the fulfilment of the Schumpeter effect by which entrepreneurial capital generates economic growth. First published online 21 October 2019
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2019-11-28 | Technological and Economic Development of Economy |