Do economic freedom and entrepreneurship impact total factor productivity?

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Do economic freedom and entrepreneurship impact total factor productivity?

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dc.contributor.author Bjørnskov, Christian
dc.contributor.author Foss, Nicolai J.
dc.date.accessioned 2010-09-28
dc.date.accessioned 2010-09-28T10:56:03Z
dc.date.available 2010-09-28T10:56:03Z
dc.date.issued 2010-09-28
dc.identifier.isbn 9788791815614
dc.identifier.uri http://hdl.handle.net/10398/8174
dc.description.abstract The economics of growth has shown that countries not only grow by deploying higher levels of inputs to production, but also by better allocating whatever resources are at their disposal and by introducing productivity-enhancing innovations. We proffer arguments as to why and how entrepreneurship as well institutions of liberty (i.e., economic freedom, including the rule of law, easy regulations, low taxes and limited government interference in the economy) positively impact total factor productivity (TFP): These institutions allow entrepreneurial experimentation with the combination of factors to take place at low transaction costs. We test these ideas on a unique panel data set derived from Compendia, World Bank data and the Fraser Institute’s economic freedom data. We find that while entrepreneurship positively impacts TFP, the marginal contribution of entrepreneurship to TFP is strongest in economies with substantial government activity. en_US
dc.format.extent 43 en_US
dc.language eng en_US
dc.relation.ispartofseries SMG Working Paper;8/2010
dc.title Do economic freedom and entrepreneurship impact total factor productivity? en_US
dc.type wp en_US
dc.accessionstatus modt10sep28 lbjl en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.corporationshort Center for Strategic Management and Globalization en_US
dc.contributor.department Center for Strategi og Globalisering en_US
dc.contributor.departmentshort SMG en_US
dc.contributor.departmentuk Center for Strategic Management and Globalization en_US
dc.contributor.departmentukshort SMG en_US
dc.idnumber 9788791815614 en_US
dc.publisher.city Frederiksberg en_US
dc.publisher.year 2010 en_US


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