Entrepreneurship and human capital: distilling models of local economic growth to inform policy

Paul Plummer (Senior Lecturer in Geography at the School of Geographical Sciences, The University of Bristol, Bristol, UK)
Michael Taylor (Professor of Human Geography, School of Geography, Earth and Environmental Sciences, The University of Birmingham, Birmingham, UK)

Journal of Small Business and Enterprise Development

ISSN: 1462-6004

Publication date: 1 December 2004

Abstract

The aim of this paper is to engage with the translation and linking of the “scientific knowledge” of theory on local economic growth with the “practical knowledge” of, on the one hand, local economic policy formulation and, on the other hand, entrepreneurship and entrepreneurship education. The paper uses theoretically informed empirical modelling to identify and prioritise the drivers of local economic growth using data for Australia. The analyses demonstrate the significance of human capital and an enterprise culture in promoting local employment growth. From these results it is suggested that “bottom up” entrepreneurial education and related, but more “top down”, enterprise facilitation are practical mechanisms for achieving such local growth. These results suggest the great importance of translating “scientific knowledge” into “practical knowledge” to allow communities to engage with the knowledge economy.

Keywords

Citation

Plummer, P. and Taylor, M. (2004), "Entrepreneurship and human capital: distilling models of local economic growth to inform policy", Journal of Small Business and Enterprise Development, Vol. 11 No. 4, pp. 427-439. https://doi.org/10.1108/14626000410567071

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Publisher

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Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited

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