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The Emergence of Entrepreneurship Policy

In: Local Heroes in the Global Village

Author

Listed:
  • David B. Audretsch

    (Max Planck Institute for Research into Economic Systems
    Centre for Economic Policy Research (CEPR)
    Indiana University)

Abstract

5. Conclusions Globalization has shifted the comparative advantage in the OECD countries away from being based on traditional inputs of production, such as land, labor and capital, towards knowledge. This has triggered a divergence between the competitiveness of firms and the competitiveness of locations. As the strategic management of firms dictated a response to globalization of outward foreign direct investment combined with employment downsizing at high cost locations, public policy has responded by developing the strategic management of places. Policy to promote entrepreneurship has emerged as playing a central role in the strategic management of places, because entrepreneurial activity is the conduit between investments in knowledge and economic growth at the particular location. However, due to the two sources of market failure associated with investments in knowledge and entrepreneurial activity identified in this paper, private agents will tend to under invest in entrepreneurial activity. A major goal of the strategic management of places is to pursue policies that will compensate for this market failure by promoting knowledge-based entrepreneurship as a vehicle for the employment growth and global competitiveness.

Suggested Citation

  • David B. Audretsch, 2005. "The Emergence of Entrepreneurship Policy," International Studies in Entrepreneurship, in: Local Heroes in the Global Village, chapter 0, pages 21-43, Springer.
    • Handle: RePEc:spr:inschp:978-0-387-23475-5_2
    DOI: 10.1007/0-387-23475-6_2
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    Citations

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    Cited by:

    1. Francesca de Nicola & Balázs Muraközy & Shawn W. Tan, 2021. "Spillovers from high growth firms: evidence from Hungary," Small Business Economics, Springer, vol. 57(1), pages 127-150, June.
    2. Bijedić, Teita & Maaß, Frank & Schröder, Christian & Werner, Arndt, 2016. "Individual and structural influences on the entrepreneurial activities of academics," Working Papers 08/16, Institut für Mittelstandsforschung (IfM) Bonn.
    3. José Luis Crespo-Espert & Antonio García-Tabuenca & Federico Pablo-Martí, 2012. "Women, entrepreneurial activity and territory: differences or myths?," Chapters, in: Charlie Karlsson & Börje Johansson & Roger R. Stough (ed.), Entrepreneurship, Social Capital and Governance, chapter 6, pages 115-159, Edward Elgar Publishing.
    4. Massimiliano Vesci & Antonio Botti & Rosangela Feola & Chiara Crudele, 2021. "Academic Entrepreneurial Intention and Its Determinants: Exploring the Moderating Role of Innovation Ecosystem," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(8), pages 1-39, July.
    5. Miguel-Angel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2020. "The Relationship between Green Innovation, Social Entrepreneurship, and Sustainable Development," Sustainability, MDPI, vol. 12(11), pages 1-19, June.
    6. Samuel Howard Quartey, 2019. "Geographies of Knowledge and Sustainable Development: Towards a Conceptual Model with Research Propositions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(2), pages 878-897, June.
    7. Mrkajic, Boris, 2017. "Business incubation models and institutionally void environments," Technovation, Elsevier, vol. 68(C), pages 44-55.
    8. Andrew Copus & Dimitris Skuras & Kyriaki Tsegenidi, 2006. "Innovation and Peripherality: A Comparative Study in Six EU Member Countries," ERSA conference papers ersa06p295, European Regional Science Association.

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