Relationship between individualist–collectivist culture and entrepreneurial activity: evidence from Global Entrepreneurship Monitor data

This paper examines how one dimension of national culture (an individualist–collectivist orientation) is related to Total Entrepreneurial Activity, depending on the level of economic development, measured by GDP per capita. Researchers have traditionally associated individualism with high rates of firm creation, arguing that an orientation towards achievement and the pursuit of personal objectives (dominant aspects in individualist cultures) are determinants of entrepreneurial activity. The current analysis shows that a country’s culture correlates to entrepreneurship, but cannot uphold the idea that higher levels of individualism mean higher rates of entrepreneurship. Using data from the Global Entrepreneurship Monitor on 52 countries, the results show that a country’s entrepreneurship rate is negatively related to individualism when development is medium or low, and positively related to individualism when the level of development is high. Thus, individualism is not related to entrepreneurship in the same way in countries with differing levels of development.     

Nascent Entrepreneurship and the Level of Economic Development

Based upon two strands of literature, this paper hypothesizes a U-shaped relationship between a country’s rate of entrepreneurial dynamics and its level of economic development. This would imply a different scope for entrepreneurship policy across subsequent stages of development. Regressing global entrepreneurship (GEM) 2002 data for nascent entrepreneurship in 36 countries on the level of economic development as measured either by per capita income or by an index for innovative capacity, we find support for a U-shaped relationship. The results suggest that a ‘natural rate’ of nascent entrepreneurship is to some extent governed by ‘laws’ related to the level of economic development. For the most advanced nations, improving incentive structures for business start-ups and promoting the commercial exploitation of scientific findings offer the most promising approach for public policy. Developing nations, however, may be better off pursuing the exploitation of scale economies, fostering foreign direct investment and promoting management education. An erratum to this article is available at .     

Export product range and economic growth in the EU countries

We analyse the number of different HS8 products in the EU countries’ exports in 1995–2015. We review what share, or coverage, of the total possible number of these products the countries have exported each year. The EU15 countries have typically witnessed a slow rise in this coverage rate, that is, a widening of their extensive margins. The exception is Finland where the share has declined considerably. On the other hand, Ireland, Greece, Portugal and the new member countries have seen a dramatic increase in their export product coverage. We analyse how the development in the coverage rate and, as a comparison, the diversification of exports as measured by the Herfindahl–Hirschman index are associated with GDP per capita growth. We find that changes in the former measure are positively associated with economic growth after we have controlled for GDP per capita catching‐up as well as investment and export activity. We also find that smaller EU economies do not specialise more than large ones in their exports as could perhaps be assumed.     

Entrepreneurship,Agglomeration and Technological Change

A growing body of literature suggests that variations across countries, in entrepreneurial activity and the spatial structure of economies could potentially be the source of different efficiencies in knowledge spillovers, and ultimately in economic growth. We develop an empirical model that endogenizes both entrepreneurial activity and agglomeration effects on knowledge spillovers within a Romerian framework. The model is tested using the GEM cross-national data to measure the level of entrepreneurship in each particular economy. We find that after controlling for the stock of knowledge and research and development expenditures, both entrepreneurial activity and agglomeration have a positive and statistically significant effect on technological change in the European Union. JEL CLASSIFICATION: O3, R1, J24, M13     

The Impact of the Global Financial Crisis on Country Attractiveness

This study assesses the impacts of the recent global financial crisis on the relative attractiveness of 125 countries between 2007 2011. Using a strategic model of international expansion that quantifies incorporates countries’ market potential (population size, gross domestic product [GDP] growth, per capita GDP), market risks (economic, political, legal, regulatory), distance (cultural, geographic), it confirms that some countries have become significantly less attractive (Ireland, Greece, Japan, etc.), while others have become much more attractive (Taiwan, Korea, etc.) as expansion markets for international companies. This study underscores the need for a strategic approach to international expansion decisions. The model can be used by business executives as a risk management tool in international expansion decision making. © 2014 Wiley Periodicals, Inc.     

中国未来不同生育水平下的经济增长后果比较研究

对中国未来90年不同生育水平下的经济增长后果进行了人口-经济动态模拟。在生育水平过低导致劳动力减少过快、人口老龄化过重、劳动负担加重的情况下,将使经济增长大大放缓;而较高的生育水平下,虽然经济增长速度略快,但是人均GDP增长速度慢于中方案生育水平下的经济增长,并且人均GDP水平也具有较大差异。完善当前生育政策,使生育水平稳定在1.9-2.0之间,如此人口在本世纪缓慢地减少也将有利于我国的经济增长和人均生活水平的提高。同时,在低生育水平下,依靠劳动增加和资本积累的粗放型经济增长将不复存在,经济发展方式转变是必然选择,技术创新、技术进步将是未来经济增长首要源泉。     

北部湾经济区经济增长的财政支持研究

本文利用北部湾经济区"4+2"城市和地区的人均一般预算支出与人均生产总值的相关数据,实证研究了北部湾经济区财政支出与经济增长之间的关系。研究表明,财政支出与经济增长二者之间存在协整关系,财政支出是经济增长的推动因素,财政支出促进经济增长,但对经济增长的作用相对较小。由于北部湾经济区现存问题依然较多,因而需要通过各种途径来弥补财政收支缺口;谨防财政收支缺口引起的财政风险,加强研究财政收支缺口的力度;进一步优化财政支出结构;将财政支持更多地转向提高科技创新能力。     

Institutional Determinants of Foreign Direct Investment

In this paper, we contribute to the literature on the determinants of foreign direct investment in developing countries and re‐evaluate the role of the quality of institutions on FDI independently of the general level of development. We implement cross‐section estimations based on a newly available database with unprecedented detail on institutions for a set of 52 countries, as well as panel data estimations based on Fraser Institute's data. Furthermore, we control for the correlation between institutions and GDP per capita and for endogeneity of institutions. Finally, we evaluate whether the similarity of institutions between the host and the origin country raises bilateral FDI. We find that a wide range of institutions, including bureaucracy, corruption, but also information, banking sector and legal institutions, do matter for inward FDI independently of GDP per capita. Interestingly, weak capital concentration and strong employment protection tend to reduce inward FDI. Institutional proximity between the origin and the host country also matters, but we find little impact of institutions in the origin country. These results are encouraging in the sense that efforts towards raising the quality of institutions and making them converge towards those of source countries may help developing countries to receive more FDI, independently of the indirect impact of higher GDP per capita. The orders of magnitude found in the paper are large, meaning that moving from a low level to a high level of institutional quality could have as much impact as suddenly becoming a neighbour of a source country.     

National culture,entrepreneurship and economic development: different patterns across the European Union

The aim of this paper is double. Firstly, it contributes to identifying the specific role of national culture as a variable that helps explain the level of economic development and reinforces the effect of entrepreneurship on the income level. Secondly, a deeper understanding of these relations in the case of the European Union is sought. In this study, data from two different sources have been used. The Schwartz Value Survey measures seven cultural orientations that are then grouped into three bipolar dimensions (embeddedness vs. autonomy, hierarchy vs. egalitarianism and mastery vs. harmony). The Global Entrepreneurship Monitor provides information regarding entrepreneurial activity. Using linear regression analysis, cultural and entrepreneurial variables are able to classify countries according to their development level, explaining over 60 % of the variance in Gross Domestic Product per capita. The role of culture is complex, with geographical elements being significantly relevant. In the case of Europe, some common elements conform what could be called “a European culture”: autonomy and egalitarianism clearly predominate over embeddedness and hierarchy, while harmony tends to prevail over mastery. Nevertheless, four well-defined groups of countries within the European Union emerge. Central and Northern Europe is closer to this European stereotypical culture, while English-speaking countries, Eastern Europe and the Mediterranean area exhibit their own differentiating elements each. These differences also exist with regard to entrepreneurial activity (overall Total Entrepreneurial Activity, necessity and opportunity-driven activity). Each of the four regional entrepreneurial cultures is characterized by a different entrepreneurial dynamics that may be plausibly explained by culture and income.     

和谐社会的经济标准

本文认为,和谐社会的经济标准必须从效率和公平两个方面来考虑,具体可分解为人均GDP、经济增长率、恩格尔系数、失业率、人均周工作时间、行业集中度、劳动力流动成本、负外部性、吉尼系数、歧视指数、贫困人口比例和通货膨胀率等12个指标。文章提出,我国建立和谐社会的重点,应该放在提高人均GDP、收入的合理分配、反贫困、环境治理和保护、减少生产要素在行业以及地区间的流动障碍等方面。     

TRADE,NON‐SCALE GROWTH AND UNEVEN DEVELOPMENT

This paper investigates the relationship between trade and economic development using a two‐country, non‐scale growth model. Depending on the share of the expenditure for manufactured goods, we obtain two different results with regard to long‐run production patterns. Whether or not the follower country can catch up with the leader country in the long run depends on two factors: (1) the patterns of production in both countries and (2) the measure of economic welfare that is used, i.e. per capita income or per capita consumption.     

What Explains Cross‐country Industry Growth Patterns? Trade,Development and the Equity Financing Channel

We test theories that examine how economic and financial development affect cross‐country industry growth patterns. Finance theory suggests that financial development affects growth by lowering the cost of external finance. This has the implication that industries in more finance‐hungry sectors will grow faster in countries where financial markets are more developed. In addition, if financing constraints are lessened when stock market performance is high, firms in sectors more dependent on external finance should grow more rapidly following periods of good stock market performance. Trade and development theories, on the other hand, imply that a country's product‐mix and the pattern of industrial growth reflect which stage of development it is in and its factor endowments. Thus, one implication of trade/development theories is that countries that are close to each other in terms of GDP per capita should have similar patterns of industrial growth. Our tests find support for each of these theories.     

对我国发展中国家地位的思考与建议

本文分析了高收入国家与发达国家在概念上的差异,指出不能将世界银行认定高收入国家的标准,作为区分发达国家与发展中国家的标准。本文提出用发达国家末尾集团的人均GDP作为发达国家的"门槛线",并结合日本、韩国、新加坡等国的发展经验,以及国内各省人均GDP发展现状,做出了相应预测:我国人均GDP至少还需要十年才能够达到发达国家"门槛线"。据此,本文认为我国作为全球制造大国、贸易大国,既要认真考虑发展的外溢效应,承担相应大国责任;也要认清发展任务的艰巨性,以便更好地维护我国发展中国家的地位。     

Science and Technology Take-off in China?: Sources of Rising R&D Intensity

China's ratio of research and development (R&D) spending to its gross domestic product (GDP) more than doubled from 0.6 per cent in 1996 to 1.4 per cent in 2005. This study documents the pattern of science and technology (S & T) take-off, characterized by an abrupt increase in the R&D to GDP ratio. This abrupt increase, observed in many of the now Organization for Economic Cooperation and Development (OECD) countries, typically drives R&D intensity from below 1 per cent to the range of 2–3 per cent. The question addressed in this work is whether China has begun a similar S & T take-off. The study reviews several conditions identified in the endogenous growth literature that drives R&D intensification and notes their emergence in China during the past decade. It also speculates why China's R&D intensification appears to be starting at such a low level of income per capita.     

长江经济带能源效率、能源消费与经济增长的区域差异--基于沿江11省市的数据分析

长江经济带集中了中国大部分的高技术与高能耗产业,过度依赖能源已成为影响该地区经济可持续发展的重要因素。采用面板数据从时间序列和截面两个维度对长江经济带11省市的能源消费和经济增长的区域差异进行分析,可以克服样本量小的缺点,更好地观察区域差异的动态变化。以人均能源消费量和人均国内生产总值为横纵坐标,构建二维组合矩阵,将长江经济带划分为4个不同的区域：江苏、江西、湖南、湖北、重庆、四川属于经济高增长能源消费高增长区;浙江、安徽、贵州属于经济高增长能源消费低增长区;云南属于经济低增长能源消费高增长区,上海属于经济低增长能源消费低增长区。     

The Lag Structure of the Impact of Business Ownership on Economic Performance in OECD Countries

This paper investigates the impact of changes in the number of business owners on three measures of economic performance, viz. employment growth, GDP growth and labor productivity growth. Particular attention is devoted to the lag structure. The analysis is performed at the country level for 21 OECD countries. Our results confirm earlier evidence on three stages in the impact of entry on economic performance: an initial direct positive effect, followed by a negative effect due to exiting capacities and finally a stage of positive supply-side effects. The net effect is positive for employment and GDP growth. Changes in the number of business owners have no effect on labor productivity.      

‘Information and Communication Technologies’ and entrepreneurial activity: drivers of economic growth in Europe

Innovation and entrepreneurial activities have become increasingly important elements for economic growth and are also decisive factors in a country's level of development. As regards the scope of this work, the European region as a whole occupies the top positions in most of the technological indicators. Entrepreneurial activity plays a significant role for the economy of a country owing, among other matters, to its effects on the labour market and economic growth. Apart from fomenting job creation, the presence of entrepreneurs may be related to the structure and performance of a country's economy. The main purpose of this work is to analyse what relationship exists between technological availability and the presence of entrepreneurs in European countries.     

能源强度与经济增长相互制约关系分析

以我国1985-2008年的相关数据为样本,利用动力学系统均衡理论分析能源强度与经济增长的相互制约关系,实证结果表明人均GDP增长率7.5%和能源强度下降率4.2%的规划目标切实可行,但能源强度下降对经济增长的负向作用不容忽视,如果经济增长仍保持更高速增长,则进一步降低能源强度将更为困难;人力资本效率增长依赖于经济增长,加大人力资本投资有助于降低能源强度,但效果不明显,可行的降耗途径在于技术进步。因此,能源强度下降程度应以技术进步相适应,产业结构调整和市场化有利于促进技术进步。     

GDP growth determinants and foreign direct investment causality: the case of Iran

Given the economic conditions in Iran and the need to accelerate its economic growth, there is a rising interest in examining the variables that fuel its GDP growth. The scant literature on economic growth in Iran is composed of only a few scholarly studies that investigate this nation's GDP growth. However, none of these studies has examined the causality between GDP growth and its determining elements. The purpose of this study is: (1) to determine the economic variables that contribute to Iran's GDP per capita growth over time, and (2) to examine the causality between foreign direct investment and the relevant variables that are included in the model. To achieve these goals the study uses a model that is based on the postulates of de Mello. The results indicate that: (1) the major determinants of GDP per capita growth in Iran are value added growth and domestic investment growth; (2) there is no causal relationship between foreign direct investment growth and GDP per capita growth in Iran in either direction; and (3) there is no causal relationship between foreign direct investment growth and value added growth in Iran in either direction.