The aim of the present short paper is to show that since the 1970s the world has changed considerably, and that this change has had consequences for the current policy debate on the determinants of economic growth. Our paper deals with some aspects of the recent scientific literature on the relation between entrepreneurship and small business, on the one hand, and economic growth, on the other. In particular, it gives a summary of some work of the EIM/CASBEC research group in the Netherlands. It refers to scientific analyses showing that countries that are lagging behind in the process of restructuring will pay a penalty in terms of forgone growth. It also pays attention to the Global Entrepreneurship Monitor (GEM), a new and large multinational project focusing on the collection and analysis of internationally comparable data on the rate of entrepreneurial activity.

economic development, entrepreneurship, growth, market structure, small firms
Production, Pricing, and Market Structure; Size Distribution of Firms (jel L11), Firm Objectives, Organization, and Behavior: General (jel L20), Business Administration and Business Economics; Marketing; Accounting (jel M), New Firms; Startups (jel M13), Economic Development: General (jel O10)
Erasmus Research Institute of Management
ERIM Report Series Research in Management
Copyright 2001, R. Thurik, S. Wennekers, This report in the ERIM Report Series Research in Management is intended as a means to communicate the results of recent research to academic colleagues and other interested parties. All reports are considered as preliminary and subject to possibly major revisions. This applies equally to opinions expressed, theories developed, and data used. Therefore, comments and suggestions are welcome and should be directed to the authors.
Erasmus Research Institute of Management

Thurik, A.R, & Wennekers, A.R.M. (2001). A Note on Entrepreneurship, Small Business and Economic Growth (No. ERS-2001-60-STR). ERIM Report Series Research in Management. Erasmus Research Institute of Management. Retrieved from