in the SME sector measured by the average years of schooling in SMEs. The exploratory spatial data analysis show strong … indicate that the relative importance of SMEs (size of SME sector) is negatively correlated with economic growth. On the other … hand, human capital embodied in SMEs present a positive and significant impact on economic growth. Moreover, the …

, indicating that SMEs shed proportionally more jobs in recessions and gain more in booms. This pattern is also observed in most of …