Entrepreneurship: Measurement and its role in global economic development Zoltan J. Acs George Mason University Max Planck Institute of Economics Presentation at the seminar House of Sweden: „Beyond the Crisis – Implications for SMEs and Entrepreneurs”

GCI IEF EDB GEI This Diamond is a Real GEM GCI = Global Competitiveness Index IEF = Index of Economic Freedom EDB = Ease of Doing Business Index GEI = Global Entrepreneurship Index n=57

GCI IEFEDB TEA -.430**-.323* -.533** Spearman Correlations between TEA and the Business Indexes GCI = Global Competitiveness Index IEF = Index of Economic Freedom EDB = Ease of Doing Business Index TEA = Early-stage entrepreneurial activity n=57

Nascent entrepreneurship versus per capita income: the U-curve Source: Wennekers et al, 2005

The Stages of Economic Development Factor Driven Stage Efficiency Driven Stage Innovation Driven Stage

Index Building The Building Blocks –Attitudes –Activity –Aspirations The Institutional Variables –Quality vs quantity Dynamics of the Index –The bottleneck method The case of Hungary

Global Entrepreneurship Index versus per capita income

GCI IEFEDB GEI * Spearman Correlations between GE-Index and the Business Indexes GCI = Global Competitiveness Index IEF = Index of Economic Freedom EDB = Ease of Doing Business Index GEI = Global Entrepreneurship Index n=57

The relative position of Hungary in terms of the entrepreneurial sub-indexes and the GEINDEX

The relative position of Hungary in the indicator level

Effect of crisis on nascent and new businesses