The present stage of the economic theory linking entrepreneurship and economic growth needs additional empirical studies to test two key hypotheses: the positive impact of entrepreneurship on economic growth and the existence of a set of factors that are positively correlated with entrepreneurship. Most of the existing empirical studies use cross-section data with countries as unity of analysis (Van Stel, Carree and Thurik, 2005; Thurik and Grillo, 2005). There are few studies using individual country data, or using time series data, and fewer studies for developing countries. Therefore, our objective in this paper is to bring a contribution to fill this gap, by developing and empirically testing an econometric model that links entrepreneurship to economic growth and identifying the determinant factors of entrepreneurship in Brazil.