Emprendimiento como motor del crecimiento económico en Colombia
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Castaño Rincón, Mariana
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Abstract
This academic paper studies the effect of entrepreneurship on Colombian economic growth
during the period 2011 to 2019. A model is proposed in which the determinants of
entrepreneurship are incorporated in a systemic way and it is sought to find how this
generates effects on the growth of the country's GDP.
Using an augmented Cobb-Douglas production function and a linear econometric model,
the results fail to demonstrate that in Colombia there is empirical evidence that
entrepreneurship actually generates significant changes in GDP, contrasted with the
increase in these types of businesses. This conclusion is consistent with the existing
findings in the literature considering that it is not possible for the Colombian case to
differentiate the new fast-growing companies (dynamic ventures) with the creation of new
companies in general, additionally it is concluded that public policy and the different
institutional elements that interact in the ecosystem have not been able to generate
effective support for the development of high growth potential ventures.
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