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Unformatted text preview: Paul D.Reynolds S.Michael Camp William D.Bygrave Erkko Autio Michael Hay 2001 Executive Report G L O B A L E N T R E P R E N E U R S H I P M O N I T O R The Business Council for the United Nations welcomes the third annual Global Entrepreneurship Monitor report. The GEM reports groundbreaking research and analysis in an ever-expanding group of countries around the world demonstrates the power of entrepreneurship as one of the most important roads to rapid and substantial economic development. The Business Council for the UN is pleased to promote this good work throughout the United Nations system and our own network of business leaders. William P. Underwood Executive Director Business Council for the United Nations G l o b a l E n t r e p r e n e u r s h i p M o n i t o r 2001 Executive Report Paul D. Reynolds S. Michael Camp William D. Bygrave Erkko Autio Michael Hay t a b l e o f c o n t e n t s t a b l e o f c o n t e n t s Lists of Tables and Figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 GEM 2001 Coordination Team, National Teams and Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Entrepreneurial Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Entrepreneurial Activity and Economic Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 What Makes a Country Entrepreneurial? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Demography: Personal Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 National Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Informal Finance and Venture Capital: A Closer Look . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 William D. Bygrave Research and Technological Development and Entrepreneurial Activity: A Closer Look . . . . . . . . . . . . . 28 Erkko Autio and Riikka-Leena Leskel Insights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 National Assessments: Expert Insights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Defining the Global Landscape . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Patterns Between Countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Patterns Between Countries ....
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