The dynamics among entrepreneurship,innovation, and economic growth in the Eurozone countries |
| |
| Institution: | 1. Vinod Gupta School of Management, Indian Institute of Technology, Kharagpur, WB 721302, India;2. Department of Economics, Trent University, Peterborough, Ontario K9L 0G2, Canada;3. School of Business and Global Asia in the 21st Century (GA21) Research Platform, Monash University Malaysia, Jalan Lagoon Selatan, 47500, Malaysia;4. College of Business, University of Lynchburg, Lynchburg, VA 24501, USA;1. University of Roma Tre, Department of Economics, Rome, Italy;2. Sapienza University of Rome, Department of Economics and Law, Via del Castro Laurenziano 9, 00161, Rome, Italy;1. University of Hohenheim, Germany;2. University of Queensland, Australia;3. Queensland University of Technology, Australia;1. Pepperdine University, Malibu, USA;2. American University, Washington DC, USA |
| |
| Abstract: | Economic growth in the Eurozone has been lacklustre over the last two decades due to increased global competition from economic players in other regions, economic and financial crisis, and political uncertainties within the zone. To increase the global competitiveness of the region, the European Union launched the Europe 2020 Strategy to raise the level of entrepreneurship and innovation, which are purported to be key drivers of economic growth. The main purpose of this paper is to investigate whether this assertion is true. Thus, the paper investigates the Granger causal relationships among entrepreneurship development, innovation, and economic growth for a sample of the Eurozone countries for the period 2001–2016. Using a vector error-correction model, the study finds that in the long run, both entrepreneurship and innovation stimulate economic growth. In the short run, strong causal links exist but are not always uniform. The results reveal that Eurozone countries should indeed base their growth strategies on policies that promote innovation and policies that create incentives for entrepreneurship. |
| |
| Keywords: | Entrepreneurship Innovation Economic growth Eurozone countries |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
