Could the Irish Miracle be Repeated in Hungary? |
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| Authors: | Zoltan J. Acs Colm O’Gorman Laszlo Szerb Siri Terjesen |
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| Affiliation: | (1) School of Public Policy, George Mason University, Fairfax, VA 22030, USA;(2) Max Planck Institute of Economics, Jena, Germany;(3) UCD School of Business, University College Dublin, Dublin, 4, Ireland;(4) Faculty of Business and Economics, University of Pecs, Pecs, 7601, Hungary;(5) Brisbane Graduate School of Business, Queensland University of Technology, 2 George Street, GPO Box 2434, B423, Brisbane, 4001, Australia |
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| Abstract: | It is widely recognized that Foreign Direct Investment (FDI) plays an important role in economic development. However, its impact on entrepreneurial activity has not been well researched. Internalization theory is used to explore how inward FDI impacts entrepreneurial activity. Using data from Global Entrepreneurship Monitor (GEM), we find significant differences in entrepreneurial activity between Ireland and Hungary in both the type of people starting businesses and the opportunities pursued. Economic development policies should focus on increasing human capital, promoting enterprise development, and upgrading the quality of FDI. Authors’ names appear alphabetically. |
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| Keywords: | Entrepreneurial activity economic development foreign direct investment knowledge spillovers Ireland Hungary |
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