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Entrepreneurial Culture and Economic Growth: Revisiting McClelland's Thesis

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  • Sjoerd Beugelsdijk
  • Roger Smeets

Abstract

We reestimate McClelland's (1961) thesis on entrepreneurial culture and economic development. McClelland found a strong positive correlation between measures of need for achievement (N achievement) imagery in school textbooks and the subsequent rate of economic growth. Benchmarking our findings against generally accepted empirical growth models, we find no support for his thesis. This leads us to rethink the relationship between entrepreneurial culture and economic growth.

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  • Sjoerd Beugelsdijk & Roger Smeets, 2008. "Entrepreneurial Culture and Economic Growth: Revisiting McClelland's Thesis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(5), pages 915-939, November.
    • Handle: RePEc:bla:ajecsc:v:67:y:2008:i:5:p:915-939
    DOI: 10.1111/j.1536-7150.2008.00602.x
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    7. Cochran, Thomas C., 1960. "Cultural Factors in Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 20(4), pages 515-530, December.
    8. Gilleard, Christopher J., 1989. "The achieving society revisited: A further analysis of the relation between national economic growth and need achievement," Journal of Economic Psychology, Elsevier, vol. 10(1), pages 21-34, March.
    9. World Bank, 2008. "World Development Indicators 2008," World Bank Publications - Books, The World Bank Group, number 28241, December.
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    Cited by:

    1. Alba Manresa & Andrea Bikfalvi & Alexandra Simon, 2018. "The Use And Determinants Of Training And Development For Creativity And Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(07), pages 1-28, October.
    2. van Hoorn, André & Maseland, Robbert, 2010. "Cultural differences between East and West Germany after 1991: Communist values versus economic performance?," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 791-804, December.
    3. Che Mohd Zulkifli bin Che Omar & Anas Tajuddin, 2012. "Malaysian One District One Industry (ODOI): The Awareness Acculturation," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(2), pages 159-165, April.
    4. Tambovtsev, Vitaly, 2015. "The myth of the “Culture code” in economic research," Russian Journal of Economics, Elsevier, vol. 1(3), pages 294-312.
    5. Petrik Runst, 2013. "Post-Socialist Culture and Entrepreneurship," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(3), pages 593-626, July.
    6. André van Hoorn & Robbert Maseland, 2010. "Cultural Differences Between East and West Germany After 1991: Communist Values vs. Economic Performance?," Post-Print hal-00911822, HAL.

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