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The authors examine the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and high-growth firms (firms that have actually realized high growth rates) on subsequent macroeconomic growth in a sample of high and low-income countries, in the period 2002-2005. The empirical evidence shows that once they control for the share of ambitious entrepreneurs the overall positive effect of entrepreneurship on macroeconomic growth disappears. Growth-oriented entrepreneurship seems to contribute heavily to macroeconomic growth in both low- and high-income countries.
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