Entrepreneurship culture,total factor productivity growth and technical progress: Patterns of convergence towards the technological frontier |
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| Institution: | 1. Department of Economics, Universidad Pontificia de Comillas, C/ Alberto Aguilera, 23, Madrid 28015, Spain;2. Department of Management, Rey Juan Carlos University, Paseo de los Artilleros s/n., 28032 Madrid, Spain;3. Department of Business Organization, Universitat Politècnica de València, C/Vera s/n., 46022 Valencia, Spain;1. NEOMA Business School, 1 rue du Marechal Juin, 76825 Mont-Saint-Aignan, France;2. Otto-von-Guericke-University Magdeburg, Universitätsplatz 2, 39106 Magdeburg, Germany;3. University of Newcastle, Faculty of Business and Law, Newcastle, Australia;4. Pacific Lutheran University, School of Business, Tacoma, WA 98447, USA |
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| Abstract: | A firm's set of knowledge processes may be affected by the entrepreneurial culture of the country in which it is located. Total factor productivity, mainly associated with technical progress, accounts for most differences over time and across countries. In the present work we examine the determinants of total factor productivity growth in 26 OECD countries between 1965 and 2010, breaking them down into changes in technical efficiency and shifts in technology over time. Using the US as the technology frontier, different patterns of productivity growth emerge between world technology leaders and countries with low initial levels of productivity. Whereas changes in efficiency seem to be the main result of the evolution in the stock of knowledge in technologically dependent economies, suggesting that less advanced economies can benefit from their relative backwardness, domestic research effort appears to be a relevant factor for technology leaders. |
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