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[STBI-23-03-2017] Entrepreneurship and Long-run Economic Growth in context of managed economy

Presenter: Đỗ Hoàng Minh – School of Economics

University of Economics, Ho Chi Minh city (UEH)

Hall: H001, 1A Hoang Dieu Street, Phu Nhuan District. HCM city

Time: 11:00 am to 12:00 am, Thursday 23/03/2017

Abstract:

In practice, the world has witnessed a substantial role of entrepreneurship in enabling some entrepreneurial economies which are positioned at the highest stage of economic development e.g., US or UK to enhance productivity through which their competitiveness could be built and sustained since the late 1980s. In addition, an expanding literature has verified that entrepreneurship acts as knowledge-spillover mechanism obviously crucial to long-run economic growth. As a result, it is argued that entrepreneurship still be potentially beneficial to managed economies in term of contribution to long-run growth during the globalization era and that there are variations in entrepreneurship between managed and entrepreneurial economies. In this study, an empirical model consisting of two equations that endogenize entrepreneurial activity as well as economic growth within the endogenous framework is developed and tested using the panel data extracted from WDI, World Bank. The study finds out that (1) entrepreneurship plays role in both entrepreneurial as well as managed economies; (2) entrepreneurship plays less important role in managed economies; (2) entrepreneurship significantly varies between managed and entrepreneurial economies.

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