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Linking Entrepreneurship and Economic Growth in Sweden, 1850–2000
Södertörn University, School of Social Sciences, Business Studies. Södertörn University, School of Social Sciences, ENTER forum.
Södertörn University, School of Social Sciences, Economics.
Södertörn University, School of Social Sciences, Business Studies. Södertörn University, School of Social Sciences, ENTER forum.
2016 (English)In: Contemporary Entrepreneurship: Multidisciplinary Perspectives on Innovation and Growth / [ed] Dieter Bögenhold, Jean Bonnet, Marcus Dejardin, Domingo Garcia Pérez de Lema, Cham: Springer, 2016, 1, 31-49 p.Chapter in book (Refereed)
Abstract [en]

Recent developments in entrepreneurship suggest a causal link between entrepreneurial activity and economic growth: entrepreneurship precedes economic growth. A positive effect from entrepreneurship on economic development in advanced, innovation-driven economies in the most recent decades is often maintained. Self-employment is one of the most common indicators of entrepreneurship. The present study uses very long series of non-interrupted data on self-employment in Sweden (1850–2000). It analyzes the relationship between variations in self-employment and economic growth. For the entire period, variations in self-employment had a significant, instantaneous positive correlation with GDP growth. However, no causal relationship could be discovered: variations in self-employment did not (Granger) cause GDP growth. We discovered a structural break in GDP growth as early as in the year of 1948. Up until 1948, (Granger) causality between self-employment and GDP could not be established for any direction. For the other segment (1949–2000), GDP growth (Granger) caused self-employment growth, but not the other way around. For the period 1949–2000, but not for the previous period, selfemployment lagged with respect to GDP growth.  Consequently, GDP growth preceded self-employment growth, but self-employment growth did not precede GDP growth. Given that self-employment is a suitable indicator, the empirical results in this study are, in several respects, in disagreement with dominating assumptions in mainstream research.

Place, publisher, year, edition, pages
Cham: Springer, 2016, 1. 31-49 p.
Keyword [en]
Entrepreneurship, Self-employment, Economic growth, Granger causality, Sweden
National Category
Economic History Economics
Research subject
Politics, Economy and the Organization of Society
Identifiers
URN: urn:nbn:se:sh:diva-30319DOI: 10.1007/978-3-319-28134-6_3ScopusID: 2-s2.0-84978199995Local ID: 1390/42/2012ISBN: 978-3-319-28132-2ISBN: 978-3-319-28134-6OAI: oai:DiVA.org:sh-30319DiVA: diva2:936887
Projects
Entrepreneurship, Innovation, and the Demography of Firms and Industries in Sweden over Two Centuries
Funder
Riksbankens Jubileumsfond, P12-1122:1
Available from: 2016-06-14 Created: 2016-06-14 Last updated: 2016-10-04Bibliographically approved

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