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The Political Economy of Entrepreneurship
Political economy has been at the core of entrepreneurship research since its conception. Although the entrepreneur is frequently regarded as the key figure in the capitalist system, academic research in economics has for a long time overlooked the entrepreneur in its analyses of growth. In terms of political economy this neglect has been even more glaring. These volumes bring together the most important contributions from a very scattered and disparate research field. The collection provides scholars, postgraduates, and students of economics and entrepreneurship with a systematic exposition of a largely undefined field of research.
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Critical Acclaim
Contributors
Contents
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Political economy has been at the core of entrepreneurship research since its conception. Although the entrepreneur is frequently regarded as the key figure in the capitalist system, academic research in economics has for a long time overlooked the entrepreneur in its analyses of growth. In terms of political economy this neglect has been even more glaring. These volumes bring together the most important contributions from a very scattered and disparate research field. The collection provides scholars, postgraduates, and students of economics and entrepreneurship with a systematic exposition of a largely undefined field of research.
Critical Acclaim
‘. . . the two-volume edition on the political economy of entrepreneurship by Henrekson and Douhan forms an impressive handbook in the field.’
– K.V.S.M. Krishna, The Journal of Entrepreneurship
‘This comprehensive two-volume set of academic papers provides an authoritative reference source on the complex interrelationships that exist between the political system, the economic infrastructure, and entrepreneurship. . . Policy-makers and academics working in the field of entrepreneurship will find this an invaluable information source that brings together key works that represent current thinking on the subject.’
– Economic Outlook and Business Review
‘Magnus Henrekson and Robin Douhan have assembled a well-integrated collection of scholarship that will broaden intellectual horizons about the role of the entrepreneur in an economy.’
– Albert N. Link, University of North Carolina at Greensboro, US
‘The persistence of significant differences in the level of entrepreneurial activity across countries is one of the most puzzling phenomena of the modern economy. Cultural differences and their interplay with the institutional and political system are usually mentioned as the drivers of these differences. The political economy approach of the present book is a quintessential step to unravel these drivers. It provides a definitive survey of what the literature has to offer.’
– Roy Thurik, Erasmus University Rotterdam, The Netherlands
– K.V.S.M. Krishna, The Journal of Entrepreneurship
‘This comprehensive two-volume set of academic papers provides an authoritative reference source on the complex interrelationships that exist between the political system, the economic infrastructure, and entrepreneurship. . . Policy-makers and academics working in the field of entrepreneurship will find this an invaluable information source that brings together key works that represent current thinking on the subject.’
– Economic Outlook and Business Review
‘Magnus Henrekson and Robin Douhan have assembled a well-integrated collection of scholarship that will broaden intellectual horizons about the role of the entrepreneur in an economy.’
– Albert N. Link, University of North Carolina at Greensboro, US
‘The persistence of significant differences in the level of entrepreneurial activity across countries is one of the most puzzling phenomena of the modern economy. Cultural differences and their interplay with the institutional and political system are usually mentioned as the drivers of these differences. The political economy approach of the present book is a quintessential step to unravel these drivers. It provides a definitive survey of what the literature has to offer.’
– Roy Thurik, Erasmus University Rotterdam, The Netherlands
Contributors
49 articles, dating from 1942 to 2006
Contributors include: D. Acemoglu, W.J. Baumol, W.M. Gentry, D. Holtz-Eakin, R.G. Hubbard, I.M. Kirzner, J. Lerner, J. Mokyr, H.S. Rosen, C. Woodruff
Contributors include: D. Acemoglu, W.J. Baumol, W.M. Gentry, D. Holtz-Eakin, R.G. Hubbard, I.M. Kirzner, J. Lerner, J. Mokyr, H.S. Rosen, C. Woodruff
Contents
Contents:
Volume I
Acknowledgements
Introduction Magnus Henrekson and Robin Douhan
PART I OVERVIEW
1. William J. Baumol (2002), ‘Independent Innovation in History: Productive Entrepreneurship and the Rule of Law’
2. Joseph A. Schumpeter ([1942] 1950) ‘Crumbling Walls’
3. Joseph A. Schumpeter (1983), ‘American Institutions and Economic Progress’
4. Israel M. Kirzner (1985), ‘The Primacy of Entrepreneurial Discovery’
5. Tony Fu-Lai Yu (2001), ‘An Entrepreneurial Perspective of Institutional Change’
6. Daron Acemoglu and James A. Robinson (2006), ‘De Facto Political Power and Institutional Persistence’
7. Bruce L. Benson (2004), ‘Opportunities Forgone: The Unmeasurable Costs of Regulation’
8. Magnus Henrekson and Ulf Jakobsson (2001), ‘Where Schumpeter was Nearly Right – The Swedish Model and Capitalism, Socialism and Democracy’
PART II PROPERTY RIGHTS AND ENTREPRENEURSHIP
9. Hernando de Soto (2000), ‘The Mystery of Capital’
10. Simon Johnson, John McMillan and Christopher Woodruff (2002), ‘Property Rights and Finance’
11. Francisco M. Gonzalez (2005), ‘Insecure Property and Technological Backwardness’
12. Wei Fan and Michelle J. White (2003), ‘Personal Bankruptcy and the Level of Entrepreneurial Activity’
PART III TAXATION AND ENTREPRENEURSHIP
A Theoretical
13. Evsey D. Domar and Richard A. Musgrave (1944), ’Proportional Income Taxation and Risk-Taking’
14. S.M. Kanbur (1981), ‘Risk Taking and Taxation: An Alternative Perspective’
15. Martin T. Robson and Colin Wren (1999), ‘Marginal and Average Tax Rates and the Incentive for Self-Employment’
16. Christian Keuschnigg and Soren Bo Nielsen (2002), ‘Tax Policy, Venture Capital and Entrepreneurship’
B Empirical
17. Donald Bruce and Mohammed Mohsin (2006), ‘Tax Policy and Entrepreneurship: New Time Series Evidence’
18. Donald Bruce (2000), ‘Effects of the United States Tax System on Transitions into Self-employment’
19. Simon C. Parker (2003), ‘Does Tax Evasion Affect Occupational Choice?’
20. William M. Gentry and R. Glenn Hubbard (2000), ‘Tax Policy and Entrepreneurial Entry’
21. Robert Carroll, Douglas Holtz-Eakin, Mark Rider and Harvey S. Rosen (2000), ‘Income Taxes and Entrepreneurs’ Use of Labor’
PART IV SUBSIDIES TO ENTREPRENEURSHIP
22. William G. Gale (1991), ‘Economic Effects of Federal Credit Programs’
23. David de Meza (2002), ‘Overlending?’
24. Christian Keuschnigg and Soren Bo Nielsen (2001), ‘Public Policy for Venture Capital’
25. Wenli Li (1998), ‘Government Loan, Guarantee and Grant Programs: An Evaluation’
Name Index
Volume II
Acknowledgements
An introduction to both volumes by the editors appears in Volume I.
PART I ENTREPRENEURSHIP POLICIES
A Theoretical
1. Brett Anitra Gilbert, David B. Audretsch and Patricia P. McDougall (2004), ‘The Emergence of Entrepreneurship Policy’
2. Douglas Holtz-Eakin (2000), ‘Public Policy Toward Entrepreneurship’
B Empirical
3. Josh Lerner (1999), ‘The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program’
4. Colin Wren and David J. Storey (2002), ‘Evaluating the Effect of Soft Business Support upon Small Firm Performance’
5. Douglas J. Cumming and Jeffrey G. MacIntosh (2006), ‘Crowding Out Private Equity: Canadian Evidence’
PART II POLITICAL ENTREPRENEURSHIP
6. Randall G. Holcombe (2002), ‘Political Entrepreneurship and the Democratic Allocation of Resources’
7. Michael Wohlgemuth (2000), ‘Political Entrepreneurship and Bidding for Political Monopoly’
PART III POLITICAL MARKETS, INTEREST GROUPS AND COALITIONS
8. George J. Stigler (1971), ‘The Theory of Economic Regulation’
9. Daron Acemoglu and Thierry Verdier (1998), ‘Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach’
10. Konstantin Sonin (2003), ‘Why the Rich may Favor Poor Protection of Property Rights’
11. Jesper Roine (2006), ‘The Political Economics of Not Paying Taxes’
PART IV INNOVATION AND VESTED INTERESTS
12. Joel Mokyr (2000), ‘Innovation and its Enemies: The Economic and Political Roots of Technological Inertia’
13. Per Krusell and José-Víctor Ríos-Rull (2002), ‘Politico-Economic Transition’
14. Giorgio Bellettini and Gianmarco I.P. Ottaviano (2005), ‘Special Interests and Technological Change’
15. Daron Acemoglu and James A. Robinson (2000), ‘Political Losers as a Barrier to Economic Development’
PART V ENTREPRENEURSHIP AND SOCIAL MOBILITY
16. Césaire A. Meh (2005), ‘Entrepreneurship, Wealth Inequality and Taxation’
17. Vincenzo Quadrini (2000), ‘Entrepreneurship, Saving and Social Mobility’
18. Douglas Holtz-Eakin, Harvey S. Rosen and Robert Weathers (2000), ‘Horatio Alger Meets the Mobility Tables’
PART VI ENTREPRENEURSHIP IN TRANSITION ECONOMIES
19. John McMillan and Christopher Woodruff (2002), ‘The Central Role of Entrepreneurs in Transition Economies’
20. Alberto Chilosi (2001), ‘Entrepreneurship and Transition’
21. David Smallbone and Friederike Welter (2001), ‘The Role of Government in SME Development in Transition Economies’
PART VII ENTREPRENEURSHIP IN THE WELFARE STATE
22. Hans-Werner Sinn (1996),’Social Insurance, Incentives and Risk Taking’
23. Pekka Ilmakunnas and Vesa Kanniainen (2001), ‘Entrepreneurship, Economic Risks and Risk-Insurance in the Welfare State: Results with OECD Data 1978–93’
24. Magnus Henrekson (2005), ‘Entrepreneurship: A Weak Link in the Welfare State?’
Name Index
Volume I
Acknowledgements
Introduction Magnus Henrekson and Robin Douhan
PART I OVERVIEW
1. William J. Baumol (2002), ‘Independent Innovation in History: Productive Entrepreneurship and the Rule of Law’
2. Joseph A. Schumpeter ([1942] 1950) ‘Crumbling Walls’
3. Joseph A. Schumpeter (1983), ‘American Institutions and Economic Progress’
4. Israel M. Kirzner (1985), ‘The Primacy of Entrepreneurial Discovery’
5. Tony Fu-Lai Yu (2001), ‘An Entrepreneurial Perspective of Institutional Change’
6. Daron Acemoglu and James A. Robinson (2006), ‘De Facto Political Power and Institutional Persistence’
7. Bruce L. Benson (2004), ‘Opportunities Forgone: The Unmeasurable Costs of Regulation’
8. Magnus Henrekson and Ulf Jakobsson (2001), ‘Where Schumpeter was Nearly Right – The Swedish Model and Capitalism, Socialism and Democracy’
PART II PROPERTY RIGHTS AND ENTREPRENEURSHIP
9. Hernando de Soto (2000), ‘The Mystery of Capital’
10. Simon Johnson, John McMillan and Christopher Woodruff (2002), ‘Property Rights and Finance’
11. Francisco M. Gonzalez (2005), ‘Insecure Property and Technological Backwardness’
12. Wei Fan and Michelle J. White (2003), ‘Personal Bankruptcy and the Level of Entrepreneurial Activity’
PART III TAXATION AND ENTREPRENEURSHIP
A Theoretical
13. Evsey D. Domar and Richard A. Musgrave (1944), ’Proportional Income Taxation and Risk-Taking’
14. S.M. Kanbur (1981), ‘Risk Taking and Taxation: An Alternative Perspective’
15. Martin T. Robson and Colin Wren (1999), ‘Marginal and Average Tax Rates and the Incentive for Self-Employment’
16. Christian Keuschnigg and Soren Bo Nielsen (2002), ‘Tax Policy, Venture Capital and Entrepreneurship’
B Empirical
17. Donald Bruce and Mohammed Mohsin (2006), ‘Tax Policy and Entrepreneurship: New Time Series Evidence’
18. Donald Bruce (2000), ‘Effects of the United States Tax System on Transitions into Self-employment’
19. Simon C. Parker (2003), ‘Does Tax Evasion Affect Occupational Choice?’
20. William M. Gentry and R. Glenn Hubbard (2000), ‘Tax Policy and Entrepreneurial Entry’
21. Robert Carroll, Douglas Holtz-Eakin, Mark Rider and Harvey S. Rosen (2000), ‘Income Taxes and Entrepreneurs’ Use of Labor’
PART IV SUBSIDIES TO ENTREPRENEURSHIP
22. William G. Gale (1991), ‘Economic Effects of Federal Credit Programs’
23. David de Meza (2002), ‘Overlending?’
24. Christian Keuschnigg and Soren Bo Nielsen (2001), ‘Public Policy for Venture Capital’
25. Wenli Li (1998), ‘Government Loan, Guarantee and Grant Programs: An Evaluation’
Name Index
Volume II
Acknowledgements
An introduction to both volumes by the editors appears in Volume I.
PART I ENTREPRENEURSHIP POLICIES
A Theoretical
1. Brett Anitra Gilbert, David B. Audretsch and Patricia P. McDougall (2004), ‘The Emergence of Entrepreneurship Policy’
2. Douglas Holtz-Eakin (2000), ‘Public Policy Toward Entrepreneurship’
B Empirical
3. Josh Lerner (1999), ‘The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program’
4. Colin Wren and David J. Storey (2002), ‘Evaluating the Effect of Soft Business Support upon Small Firm Performance’
5. Douglas J. Cumming and Jeffrey G. MacIntosh (2006), ‘Crowding Out Private Equity: Canadian Evidence’
PART II POLITICAL ENTREPRENEURSHIP
6. Randall G. Holcombe (2002), ‘Political Entrepreneurship and the Democratic Allocation of Resources’
7. Michael Wohlgemuth (2000), ‘Political Entrepreneurship and Bidding for Political Monopoly’
PART III POLITICAL MARKETS, INTEREST GROUPS AND COALITIONS
8. George J. Stigler (1971), ‘The Theory of Economic Regulation’
9. Daron Acemoglu and Thierry Verdier (1998), ‘Property Rights, Corruption and the Allocation of Talent: A General Equilibrium Approach’
10. Konstantin Sonin (2003), ‘Why the Rich may Favor Poor Protection of Property Rights’
11. Jesper Roine (2006), ‘The Political Economics of Not Paying Taxes’
PART IV INNOVATION AND VESTED INTERESTS
12. Joel Mokyr (2000), ‘Innovation and its Enemies: The Economic and Political Roots of Technological Inertia’
13. Per Krusell and José-Víctor Ríos-Rull (2002), ‘Politico-Economic Transition’
14. Giorgio Bellettini and Gianmarco I.P. Ottaviano (2005), ‘Special Interests and Technological Change’
15. Daron Acemoglu and James A. Robinson (2000), ‘Political Losers as a Barrier to Economic Development’
PART V ENTREPRENEURSHIP AND SOCIAL MOBILITY
16. Césaire A. Meh (2005), ‘Entrepreneurship, Wealth Inequality and Taxation’
17. Vincenzo Quadrini (2000), ‘Entrepreneurship, Saving and Social Mobility’
18. Douglas Holtz-Eakin, Harvey S. Rosen and Robert Weathers (2000), ‘Horatio Alger Meets the Mobility Tables’
PART VI ENTREPRENEURSHIP IN TRANSITION ECONOMIES
19. John McMillan and Christopher Woodruff (2002), ‘The Central Role of Entrepreneurs in Transition Economies’
20. Alberto Chilosi (2001), ‘Entrepreneurship and Transition’
21. David Smallbone and Friederike Welter (2001), ‘The Role of Government in SME Development in Transition Economies’
PART VII ENTREPRENEURSHIP IN THE WELFARE STATE
22. Hans-Werner Sinn (1996),’Social Insurance, Incentives and Risk Taking’
23. Pekka Ilmakunnas and Vesa Kanniainen (2001), ‘Entrepreneurship, Economic Risks and Risk-Insurance in the Welfare State: Results with OECD Data 1978–93’
24. Magnus Henrekson (2005), ‘Entrepreneurship: A Weak Link in the Welfare State?’
Name Index
