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Entrepreneurs and businessmen in Greece during the Long Nineteenth Century

Foreman-Peck, James S. ORCID: and Pepelasis, Ioanna Sapfo 2013. Entrepreneurs and businessmen in Greece during the Long Nineteenth Century. Tortella, Gabriel and Quiroga, Gloria, eds. Entrepreneurship and Growth: An International Historical Perspective, Basingstoke: Palgrave Macmillan, pp. 49-68.

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This paper examines what part, if any, businessmen played in the slow and erratic growth of the later nineteenth century Greek economy. A data set of most of the principal Greek businessmen of the period has been created. By specifying and estimating a simple model of the determinants of the supply and demand for entrepreneur’s capital, the productivity of different entrepreneurial characteristics can be demonstrated. Greece took advantage of opportunities to borrow business and technological knowledge from abroad; businessmen disproportionately originated from other countries relative to the population as a whole and many others gained foreign experience. Moreover, the demand for capital showed that experience abroad and operating both inside and outside Greece were marks of greater entrepreneurial ability. Had the Greek economy been able to attract more people with these characteristics, it would have been better off. As it was the corporate sector grew too slowly to do very much for the economy as a whole. The constraints on economic growth were those of the institutions of the domestic economy, especially the state.

Item Type: Book Section
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HF Commerce
Uncontrolled Keywords: entrepreneurs; crony capitalism; company capital; networks
Publisher: Palgrave Macmillan
ISBN: 9781137033345
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Last Modified: 21 Oct 2022 10:32

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