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Examining the Influence of Entrepreneurship on Economic Growth: A Case Study Using Startups and SMEs for Entrepreneurship Measurement in Hong Kong during Peroid 2001-2010
Umeå University, Faculty of Social Sciences, Umeå School of Business.
Umeå University, Faculty of Social Sciences, Umeå School of Business.
2011 (English)Independent thesis Advanced level (degree of Master (Two Years)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

In recent decades, much attention has been directed towards the association that can exist between entrepreneurship and economic growth. However, there is still no consensus regarding the nature of the association, and parallel or opposite views are still common. Does entrepreneurship really contribute to economic growth? Are there other factors, other than entrepreneurship, also lead to economic growth? The purpose of this paper is to answer the first question. That question is crucial to researchers and policy makers because if entrepreneurship is really an effective tool in driving economic growth, the costs of ignoring its development would be too high for policy makers, while failure in understanding the relationship would lead to a research gap for researchers. Although there are studies attempting to answer this question, most of them to date are seen to focus mainly on larger economies such as those in Western countries, and tend to proceed from a rather theoretical perspective which fits larger economies more, compared to smaller economies. Without the support of empirical evidence from those economies which are less regarded, valid answer to the question would not be possible. Therefore, this paper, attempting to provide a more empirical conclusion to the effects of entrepreneurship on economic growth, proceeds from an approach inspired by multivariate analysis. The research is structured as a quantitative study focusing on a relatively small yet important part of the international economy – Hong Kong. Consequently, various measures of entrepreneurship and economic growth are used to increase the validity of the results. The analysis indicates that a positive relationship between entrepreneurship and economic growth is statistically supported. This implies that the development of entrepreneurship is essential for a country to experience economic growth and maybe ultimately enjoy higher living standards and greater social and political stability. Therefore, for researchers, future research could be more focusing on identifying the kinds of entrepreneurial activity that contribute more to economic growth; while efforts should be made to promote entrepreneurship and hence emphasis must be given to entrepreneurial policies by policy makers.

Place, publisher, year, edition, pages
2011. , 48 p.
Keyword [en]
Entrepreneurship, economic growth, measurement of entrepreneurship, measurement of economic growth, knowledge spillover
National Category
Business Administration
URN: urn:nbn:se:umu:diva-45317OAI: diva2:429137
Social and Behavioural Science, Law
Available from: 2011-07-05 Created: 2011-07-03 Last updated: 2011-07-05Bibliographically approved

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