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Business ownership and sectoral growth

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  • André van Stel
  • Martin Carree

Abstract

In this report we investigated the development of business ownership (self-employment) rates over time at the sectoral level, and the effect these rates have on sectoral output growth. In an earlier exercise, Carree et al. (2002) presented a two-equation model to analyse the interrelationship between economy-wide business-ownership rates and economic development. Their analysis raises an important research question: to what extent do differences in business ownership at the economy-wide level reflect differences in the sectoral structures of economies or differences in business-ownership rates at the sectoral (or even industry) level? The current paper investigates this question making use of a sectoral data base of 21 OECD countries for the period 1970-98. Our estimation results suggest that for our sample of OECD countries there is, on average, a too low business-ownership rate in manufacturing and a too high business-ownership rate in services. The results also show that the results found in Carree et al. (2002) are not solely due to countries differing in sectoral structures.

Suggested Citation

  • André van Stel & Martin Carree, 2002. "Business ownership and sectoral growth," Scales Research Reports H200206, EIM Business and Policy Research.
    • Handle: RePEc:eim:papers:h200206
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    Cited by:

    1. Wennekers, Sander & van Stel, André & Carree, Martin & Thurik, Roy, 2010. "The Relationship between Entrepreneurship and Economic Development: Is It U-Shaped?," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 6(3), pages 167-237, July.
    2. Carl Magnus Bjuggren & Dan Johansson & Mikael Stenkula, 2012. "Using self-employment as proxy for entrepreneurship: some empirical caveats," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 17(3), pages 290-303.
    3. Sander Wennekers & Roy Thurik & André van Stel & Niels Noorderhaven, 2003. "Uncertainty Avoidance and the Rate of Business Ownership across 22 OECD Countries, 1976-2000," Tinbergen Institute Discussion Papers 03-089/3, Tinbergen Institute, revised 01 Sep 2004.
    4. David B. Audretsch & Martin A. Carree & Adriaan J. Van Stel & A. Roy Thurik, 2002. "Impeded Industrial Restructuring: The Growth Penalty," Kyklos, Wiley Blackwell, vol. 55(1), pages 81-98.
    5. Callejón, María & Ortún, Vicente, 2009. "Black-box business dynamics," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 15, pages 167-189.
    6. Andre van Stel & Martin Carree & Roy Thurik, 2004. "The effect of entrepreneurship on national economic growth: an analysis using the GEM database," Papers on Entrepreneurship, Growth and Public Policy 2004-34, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.

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