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NOTE: Since 2009 the title of the International Journal of Entrepreneurship Education (IJEE) has been changed to the title above. ISSN numbers: IJEE 1649-2269 and IRE 2009-2822
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ISSN Number: 2009-2822. Frequency: 4 Issues per year (online only)
Article #1606 - Entrepreneurship and Economic Growth: A Review and Synthesis of Conceptual Arguments and Empirical Evidence
IRE Vol 17: Issue 3, 2019, Pages
Author(s): Vijay Vyas (Faculty of Business & Law, University of Portsmouth, UK) and Renuka Vyas (Cardiff Business School, Cardiff University, UK)
Abstract:
We review the literature on the nexus between entrepreneurship and economic growth
and investigate the reasons for its inconclusive early findings. We trace them to the evolution of
nations from the managed economies to the entrepreneurial economies and various discrepancies,
both in the proxies used to measure entrepreneurship as well as in the settings within which this
relationship has been explored. We also find that notwithstanding the continued assertion of a lack
of empirical evidence on entrepreneurship-led economic growth, post-2004 research on the theme
has fairly conclusively established the positivity of this relationship in the developed world and the
persisting debate on this issue reflects just a lack of its awareness. We provide a synthesis of findings
of the most recent research, discuss the unresolved issues, point to future research directions and
analyse the implications of our findings for practice.