기업가정신과 경제성장의 관계 분석:GEM가설을 중심으로

This paper explores an economic rationale for the relationships between entrepreneurship and economic growth. Technology has been stressed as a main factor to stimulate growth rate. The endogenous growth theory emphasizes specially the role of technology which is determined endogenously within market economy. A scientific technology or knowledge is not automatically applied into the production process. There needs someone who connects innovative technologies and industries. An adaptation of the potential technology requires somewhat risk and uncertainty. Entrepreneurs take an innovative technology to pursue excess profits even though they are faced with risk and uncertainty from the unperceived chance. Recently, Global Entrepreneurship Monitor (GEM) has put an important hypothesis that higher entrepreneurship makes higher growth rates. However, the report did not give any economic rationale for the clue of the relationships between entrepreneurship and growth. The objective of this paper is to examine what a rationale works between them by employing the modern growth theory. Three approaches are used. First, the variable of entrepreneurship is directly plugged into the Solowian growth model. Second, Aghion and Howitt model, combing endogenous growth model and Schumpeter's innovation, is useful to explore it. Last, Romer's model is slightly reinterpreted by introducing the role of entrepreneurship.