By Simon C. Parker
Entrepreneurship is an essential component of financial switch and development. but until eventually lately it's been mostly overlooked by means of economists. within the Economics of Entrepreneurship, Simon C. Parker attracts on theoretical insights and up to date empirical findings to teach how economics can give a contribution to our figuring out of entrepreneurship. The ebook is predicated on an previous paintings, The Economics of Self-employment and Entrepreneurship (Cambridge collage Press, 2004), that has fast develop into an important reference for lecturers studying the economics of entrepreneurship. Written in a extra obtainable type, this e-book comprises a lot that made this previous paintings such a success and, furthermore, comprises enhanced pedagogical good points and new fabric at the thought of the company, spin-offs, nascent entrepreneurship, growth-enhancing wisdom spillovers and social entrepreneurship. it may be used either as a reference textual content for lecturers from a number of disciplines and as a textbook for graduate scholars.
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Additional info for The Economics of Entrepreneurship
Results are presented separately for both all workers and non-agricultural workers, reﬂecting the substantial difference agriculture makes to measured self-employment rates in many countries. Indeed, Introduction 17 most researchers tend to exclude agricultural workers from their deﬁnitions of selfemployment, on the grounds that farm businesses have very different characteristics from non-farm businesses. The agricultural sector tends to decline as an economy develops, which may distort self-employment trends in other sectors of the economy (Blanchﬂower, 2000).
Estrin et al. (2006) describe in detail the kinds of entrepreneurial opportunities that emerged from the collapse of central planning. They include the liquidation of vertically integrated state enterprises, which created niche markets; privatisations, which released ﬁxed and working capital that could be used to ﬁnance entrepreneurship; the rise of grey and black markets, which responded to the lack of consumer goods; and the emergence of politically networked middlemen with access to crucial production inputs.
For clarity, the following convention is adopted in this book. At the conceptual level, the terms ‘entrepreneur’and ‘entrepreneurship’will be used throughout. At the practical level, where issues of measurement, estimation and policy are involved, I will try to refer to the particular measure that was either used in applied research or which appears most suitable. That could be any of new venture creator, nascent entrepreneur, small ﬁrm, self-employed or business owner. Finally, it is sometimes convenient to disaggregate entrepreneurs into ‘habitual’ and ‘novice’ subgroups.
The Economics of Entrepreneurship by Simon C. Parker