Entrepreneurship: an assessment

Abstract

This article reviews evidence of the impact of entrepreneurship on job creation, gender and race discrimination, university spin-offs, growth, economic geography, finance and the public sector. It defines entrepreneurship, corrects some conventional wisdoms about it and discusses policy implications of the evidence on its determinants and effects. The article suggests that the distinctive nature of entrepreneurship raises theoretical, empirical and policy issues that the existing literature has not even begun to address to date.