earticle

영어

The purpose of this study is to analyze the relative efficiency of Korean entrepreneurship policy based on comparison with innovation-driven economies, and suggest policy implications. The study applies an input-based DEA (Data Envelopment Analysis) model to nine countries out of the innovation-driven economies in order to measure the relative efficiencies for their entrepreneurship policy during the period 2009-2013. Four input factors include the Financial Support, Government Policy, Research and Development Transfer, and Commercial, Professional Infrastructure. Single output factor is Total Early-stage Entrepreneurial Activity. The results can be summarized as follows; First, technical efficiencies have been increasing throughout the analysis period while the majority of the countries were located under increasing returns to scale. Second, scale inefficiencies turn out to be greater than managerial inefficiencies. Third, the increases in output-based Malmquist productivity indexes were caused mainly by technological changes rather than technical efficiency changes. Last, according to DEA/Window analysis, average of window-wise technical efficiencies has been increasing during three-window period. Based on the analyses results, the study suggests three policy implications. First, the countries in the innovation-driven economies need to increase the input factors for entrepreneurship policy. Second, relatively inefficient countries need to catch up the reference countries by the way of benchmarking. Last, Korean government may as well pursue an effectiveness-oriented entrepreneurship policy rather than an efficiency-oriented one.