From entrepreneurship to economic growth: a three stage approach

P.P. van Hemert

Research output: Contribution to JournalArticleAcademicpeer-review


Over time, different economic theories have supported the idea that entrepreneurship and innovation are essential for spurring economic growth. One question, however, remains unanswered, namely, why some regions in different parts of the world manage to enter into a cycle of growth and development that lasts for a long time, while many others fail to do so. In this paper, an attempt is made at further clarifying this question by means of a three-stage approach. When looking at the academic literature, the growth process may be subdivided into three essential stages of growth: the institutional stage, the entrepreneurial stage and the innovative stage. This study suggests that this three-stage approach might prove useful in further defining the research on entrepreneurship and innovation in relation to economic growth. Copyright © 2008 Inderscience Publishers.
Original languageEnglish
Pages (from-to)51-70
Number of pages20
JournalInternational Journal of Foresight and Innovation Policy
Issue number1/2
Early online date28 Jan 2008
Publication statusPublished - 2008

Bibliographical note

Special Issue on Entrepreneurship, Innovation and Economic Development: A Policy Framework


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