Entrepreneurship: Measurement and its role in global economic development

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Entrepreneurship Measurement and its role in
global economic development

• Zoltan J. Acs
• George Mason University
• Max Planck Institute of Economics
• Presentation at the seminar House of Sweden
  Beyond the Crisis Implications for SMEs and
  Entrepreneurs

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This Diamond is a Real GEM
GCI
IEF
EDB
GEI
GCI Global Competitiveness Index IEF Index of
Economic Freedom EDB Ease of Doing Business
Index GEI Global Entrepreneurship Index n57
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Spearman Correlations between TEA and the
Business Indexes
GCI
IEF
EDB
-.533
-.430
-.323
TEA
GCI Global Competitiveness Index IEF Index of
Economic Freedom EDB Ease of Doing Business
Index TEA Early-stage entrepreneurial
activity n57
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Nascent entrepreneurship versus per capita
income the U-curve
Source Wennekers et al, 2005
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The Stages of Economic Development

• Factor Driven Stage
• Efficiency Driven Stage
• Innovation Driven Stage

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Index Building

• The Building Blocks
• Attitudes
• Activity
• Aspirations
• The Institutional Variables
• Quality vs quantity
• Dynamics of the Index
• The bottleneck method
• The case of Hungary

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Global Entrepreneurship Index versus per capita
income
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Spearman Correlations between GE-Index and the
Business Indexes
GCI
IEF
EDB
0.80
0.77
0.78
GEI
GCI Global Competitiveness Index IEF Index of
Economic Freedom EDB Ease of Doing Business
Index GEI Global Entrepreneurship Index n57
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The relative position of Hungary in terms of the
entrepreneurial sub-indexes and the GEINDEX
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The relative position of Hungary in the indicator
level
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Effect of crisis on nascent and new businesses