The Contribution of Entrepreneurship to Economic Growth of the Brazilian States
DOI:
10.14211/regepe.v6i3.552Keywords:
Entrepreneurship, Economic growth, Dynamic panel data.Abstract
Because of the obvious interstate and interregional inequalities related to the economic performance of the Brazilian states, this study had to objective understand the effects of entrepreneurship on economic growth in Brazil and verify whether these effects differ among states. For this, estimated a model for data in dynamic panel with the Generalized Method of Moments (GMM) and fixed effects with variable "GDP per capita, entrepreneurship (self employed), trade international, population, government spending, illiteracy and capital investment", the 26 states of Brazil and the Federal District. The period analyzed was 2001-2011, due to the availability of data for all variables. We found that, through innovation or promotion of new businesses, entrepreneurship is a factor of economic growth, and is complementary to other determinants; it has similar role for all states, regardless of whether the state has more or less economic size; and that its effects on the growth of the Brazilian states are, in general, homogeneous and positive. Thus, we concluded that in the case of the states of Brazil, even for the poorest, entrepreneurship was favorable to economic growth.
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