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"Philanthropy has long been a distinctive feature of American culture, but its crucial role in the economic well-being of the nation--and the world--has remained largely unexplored. Why Philanthropy Matters takes an in-depth look at philanthropy as an underappreciated force in capitalism, measures its critical influence on the free-market system, and demonstrates how American philanthropy could serve as a model for the productive reinvestment of wealth in other countries. Factoring in philanthropic cycles that help balance the economy, Zoltan Acs offers a richer picture of capitalism, and a more accurate backdrop for considering policies that would promote the capitalist system for the good of all."--Publisher's description.

The Global Entrepreneurship and Development Index both captures the context features of entrepreneurship and fills a gap in the measurement of development. Building on recent advances in entrepreneurship and economic development the authors have created an index that offers a measure of the quality of the business formation process in 71 of the most important countries in the world. Zoltan J. Acs and Laszlo Szerb expertly capture the contextual feature of entrepreneurship by focusing on entrepreneurial attitudes, entrepreneurial activity and entrepreneurial aspirations. The data and their cont

New and small firms in expanding markets / Paul D. Reynolds -- Reconfiguring the boundaries of international business activity / John H. Dunning -- The internationalization of small and medium-sized enterprises / Zolton J. Acs [and others] -- Alliance strategies of small firms / Benjamin Gomes-Casseres -- Small firms as international players / Tomás O. Kohn -- Exploration of technological diversity and geographical localization in innovation / Paul Almeida and Bruce Kogut -- The production transfer, and spillover of technology: comparing large and small multinationals as technology producers / Lorraine Eden, Edward Levitas, and Richard J. Martinez -- International technology transfer by small and medium-sized enterprises / Peter J. Buckley -- Conclusion: small and medium-sized enterprises in the global economy / Zoltan J. Acs and Bernard Yeung

This study offers that it is consistent with and even complementary to the older and more traditional development strategies. We survey the literature on entrepreneurship in developing countries which, admittedly, is wide and covers a range of issues from culture and values; institutional barriers such as financial sector development, governance and property rights; to the adequacy of education and technical skills. A broad literature has also developed on foreign direct investment and its positive and negative effects on technology transfer and entrepreneurship. After the collapse of the Soviet Union, a number of studies examined the development of small and medium sized enterprises in transition economies. As these economies moved from centralized economies to market economies, enterprise and entrepreneurship became important. Yet, other studies examine the effects infrastructural development and the macroeconomy on entrepreneurship. With such a wide scope of issues, a framework for synthesizing the literature is needed. This study offers that the identification of the externalities which affect entrepreneurship provides a useful framework to examine the literature on entrepreneurship in developing countries

Introduction -- Entrepreneurship and economic growth -- Regional variation in entrepreneurial activity -- Human capital and entrepreneurship -- Entrepreneurship and employment growth -- Summary and conclusions -- A formulation of entrepreneurship policy.

Democratic capitalism has become the popular paradigm in the modern world, and it is spreading further through globalization. It is a model based on growth, expansion and constant innovation. However, it is accompanied by social problems which may worsen despite overall gains in wealth. In this paper, we suggest that democratic capitalist societies may benefit from the application of what has been a primarily American institution: Philanthropy. We present the Entrepreneurship-Philanthropy Cycle, which demonstrates the relationship between wealthy entrepreneurs, philanthropic contributions and economic opportunity. As a nonmarket and nonstate mechanism, philanthropy is unique in its structure and operations, and may offer the ideal approach to solving social problems. We suggest that both the internationalization of American foundations, and the growth of domestic philanthropy, can help developing countries offset social problems.

David B. Audretsch and Erik E. Lehmann (2005), 'Does the Knowledge Spillover Theory of Entrepreneurship Hold for Regions?', Research Policy, 34, 1191-202 -- Sam Youl Lee, Richard Florida and Zoltan J. Acs (2004), 'Creativity and Entrepreneurship: A Regional Analysis of New Firm Formation', Regional Studies, 38 (8), 879-91 -- Richard Florida (2003), 'Entrepreneurship, Creativity, and Regional Economic Growth', in David M. Hart (ed) (ed.), The Emergence of Entrepreneurship Policy: Governance, Start-Ups, and Growth in the U.S. Knowledge Economy, Chapter 3, Cambridge: Cambridge University Press, 39-58, references -- Maryann P. Feldman (2001), 'The Entrepreneurial Event Revisited: Firm Formation in a Regional Context', Industrial and Corporate Change, 10 (4), 861-91 -- Hector O. Rocha (2004), 'Entrepreneurship and Development: The Role of Clusters', Small Business Economics, 23, 363-400 -- Rui Baptista and Peter Swann (1998), 'Do Firms in Clusters Innovate More?', Research Policy, 27, 525-40 -- Guy Dumais, Glenn Ellison and Edward L. Glaeser (2002), 'Geographic Concentration as a Dynamic Process', Review of Economics and Statistics, LXXXIV (2), May, 193-204 -- Zoltan Acs, Ed Glaeser, Robert Litan, Lee Fleming, Stephan Goetz, William Kerr, Steven Klepper, Stuart Rosenthal, Olav Sorenson and William Strange (2008), Entrepreneurship and Urban Success: Toward a Policy Consensus, Kansas City, MO: Ewing Marion Kauffman Foundation, February, (i), 2-26

James J. Anton and Dennis A. Yao (1994), 'Expropriation and Inventions: Appropriable Rents in the Absence of Property Rights', American Economic Review, 84 (1), March, 190-209 -- Lynne G. Zucker, Michael R. Darby and Marilynn B. Brewer (1998), 'Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises', American Economic Review, 88 (1), March, 290-306 -- David B. Audretsch (1995), 'New Firms', in Innovation and Industry Evolution, Chapter 3, Cambridge, MA: MIT Press, 39-64, references -- Scott Shane (2001), 'Technological Opportunities and New Firm Creation', Management Science, 47 (2), February, 205-20 -- Boyan Jovanovic (2001), 'New Technology and The Small Firm', Small Business Economics, 16 (1), February, 53-5 -- Zoltan J. Acs and Attila Varga (2002), 'Geography, Endogenous Growth, and Innovation', International Regional Science Review, 25 (1), 132-48 -- Claudio Michelacci (2003), 'Low Returns in R&D Due to the Lack of Entrepreneurial Skills', Economic Journal, 113 (484), January, 207-25 -- Bo Carlsson, Zoltan J. Acs, David B. Audretsch and Pontus Braunerhjelm (2009), 'Knowledge Creation, Entrepreneurship, and Economic Growth: A Historical Review', Industrial and Corporate Change, 18 (6), December, 1193-229 -- Zoltan J. Acs, Pontus Braunerhjelm, David B. Audretsch and Bo Carlsson (2009), 'The Knowledge Spillover Theory of Entrepreneurship', Small Business Economics, 32 (1), January, 15-30 -- Zoltan Acs, Lawrence A. Plummer and Ryan Sutter (2009), 'Penetrating the Knowledge Filter in "Rust Belt" Economies', Annals of Regional Science, 43 (4), 989-1012 -- David B. Audretsch and Erik E. Lehmann (2005), 'Does the Knowledge Spillover Theory of Entrepreneurship Hold for Regions?', Research Policy, 34, 1191-202 -- Zoltan J. Acs and Attila Varga (2005), 'Entrepreneurship, Agglomeration and Technological Change', Small Business Economics, 24 (3), 323-34 -- Edward P. Lazear (2005), 'Entrepreneurship', Journal of Labor Economics, 23 (4), 649-80 -- Jarle Møen (2005), 'Is Mobility of Technical Personnel a Source of R&D Spillovers?', Journal of Labor Economics, 23 (1), 81-114 -- Thomas Hellmann (2007), 'When Do Employees Become Entrepreneurs?', Management Science, 53 (6), June, 919-33 -- Hans K. Hvide (2009), 'The Quality of Entrepreneurs', Economic Journal, 119 (539), July, 1010-35

Explores how socio-economic transformation is placed within a larger context spanning two centuries of economic growth and development in a capitalist society. This book is suitable for those interested in entrepreneurship, political science and regional science and as well academics, graduate students and economists

Machine generated contents note: 1 Technology and entrepreneurship 1 -- 2 Knowledge, innovation and firm size 24 -- 3 Local geographic spillovers 44 -- 4 Sectoral characteristics 63 -- 5 Innovation of entrepreneurial firms 74 -- 6 Capital structure, innovation and firm size 98 -- 7 Employment growth in metropolitan areas 115 -- 8 Employment, wages and R&D spillovers 135 -- 9 Heterogeneity versus specialization 154 -- 10 Regional innovation systems 167 -- 11 Epilogue: towards a 'new model of regional economic development'? 192 -- Appendix A: The innovation database 196 -- Appendix B: Innovations, R&D lab employment and university -- research by state 203 -- Appendix C: Innovation, R&D lab employment and university -- research by MSA 205 -- Appendix D: Innovation, private R&D lab employment and -- university research by MSA and industry sector 209 -- Appendix E: Industry groupings 214 -- Appendix F: List of variables 215.

This brief captures the contextual features of entrepreneurship by measuring entrepreneurial attitudes, abilities, and aspirations at both the individual- and country-level. Featuring data from the 2016 Global Entrepreneurship and Development Index (GEDI), which measures the quality and scale of the entrepreneurial process in 133 countries around the world, this book provides a tool to help policymakers and governments harness the power of entrepreneurship to address some of the economic challenges faced at the country level. In addition to the yearly data and comparisons, this edition also explores the relationship between entrepreneurship and other measures of development. Distinct from both output-based entrepreneurship indexes (i.e., new firm counts) and process-based indexes (i.e., comparisons of policies and regulations, the GEDI is designed to profile national systems of entrepreneurship. The Index does not simply count new firm registrations nor is it an exercise of policy benchmarking. It also does not focus exclusively on high-growth entrepreneurship; it considers the characteristics of entrepreneurship that enhance productivity, such as innovation, market expansion, globalization, and growth potential. Finally, recognizing that entrepreneurship has a different impact in different economic and institutional contexts, the GEDI combines individual-level data with data that describes national institutions, as well as economic and demographic structures, to provide an institutionally embedded view of the drivers of productive entrepreneurship. .--

This volume captures the context features of entrepreneurship and fills a gap in the measurement of development. Building on recent advances in entrepreneurship and economic development, the authors have created an index that offers a measure of the quality of the business formation process in 120 of the most important countries in the world. The authors expertly capture the contextual feature of entrepreneurship by focusing on entrepreneurial attitudes, entrepreneurial abilities and entrepreneurial aspirations. The data and their contribution to the business formation process are supported by three decades of research into entrepreneurship across a host of countries. The Global Entrepreneurship and Development Index is a construction of individual and institutional measures that integrates 31 variables from various data sources into 15 pillars, three sub-indexes and a 'super index'. The relationship between entrepreneurship and economic development appears to be more or less mildly S-shaped. The findings suggest moving away from simple measures of entrepreneurship across countries illustrating a U-shaped or L-shaped relationship to more complex measures, which are positively related to development. The model has important implications for development policy. This unique book will be invaluable for researchers, policymakers and entrepreneurs keen to expand their understanding of entrepreneurship and development.