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New Firm Formation and the Region: Empirical Results from the United States

In: Entrepreneurship, Growth, and Innovation

Author

Listed:
  • Zoltan J. Acs

    (University of Baltimore
    U.S. Bureau of the Census)

Abstract

7. Conclusions The BITS database constructed for the Office of Advocacy of the U.S. Small Business Administration is uniquely suitable for testing new approaches to explaining regional differences in economic growth rates. Recent theories of economic growth view local externalities, as opposed to scale economies, as the primary engine in generating growth in cities with their closely integrated surrounding counties (Labor Market Areas). While scale economies operate at the plant level, externalities operate at the level of the firm, primarily through entrepreneurial activity. Using the BITS data we examined the impact of these externalities on regional employment growth from an entrepreneurial perspective by examining the relationship of local economic growth to local entrepreneurial activity. Since higher rates of entrepreneurial activity in an industry sector and region imply lower barriers to birth and greater local competition, this analysis can also be interpreted as an investigation of the impact of local competition on local economic growth. We found that higher rates of entrepreneurial activity were strongly associated with faster growth of local economies.

Suggested Citation

  • Zoltan J. Acs, 2006. "New Firm Formation and the Region: Empirical Results from the United States," International Studies in Entrepreneurship, in: Enrico Santarelli (ed.), Entrepreneurship, Growth, and Innovation, chapter 0, pages 105-133, Springer.
    • Handle: RePEc:spr:inschp:978-0-387-32314-5_5
    DOI: 10.1007/0-387-32314-7_5
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    Citations

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    Cited by:

    1. Francesco Quatraro & Marco Vivarelli, 2015. "Drivers of Entrepreneurship and Post-entry Performance of Newborn Firms in Developing Countries," The World Bank Research Observer, World Bank, vol. 30(2), pages 277-305.
    2. Enrico Santarelli & Marco Vivarelli, 2007. "Entrepreneurship and the process of firms’ entry, survival and growth," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(3), pages 455-488, June.
    3. Marco Vivarelli, 2012. "Entrepreneurship and Post-Entry Performance: the Microeconomic Evidence," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1286, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    4. Marco Vivarelli, 2013. "Is entrepreneurship necessarily good? Microeconomic evidence from developed and developing countries," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(6), pages 1453-1495, December.
    5. Vivarelli, Marco, 2012. "Drivers of entrepreneurship and post-entry performance : microeconomic evidence from advanced and developing countries," Policy Research Working Paper Series 6245, The World Bank.
    6. Vivarelli, Marco, 2012. "Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective," IZA Discussion Papers 6513, Institute of Labor Economics (IZA).
    7. Quatraro, Francesco & Vivarelli, Marco, 2013. "Entrepreneurship In A Developing Country Context," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201314, University of Turin.
    8. Mathilde Aubry & Jean Bonnet & Patricia Renou-Maissant, 2014. "Cycle économique et comportement entrepreneurial sur données régionales françaises," Revue d'économie régionale et urbaine, Armand Colin, vol. 0(4), pages 643-675.
    9. Yung Hyeock Lee & In Hyeock (Ian) Lee, 2022. "A regional analysis of crime heterogeneity and small- and medium-sized enterprise (SME) location choices: recent evidence from South Korea," Asian Business & Management, Palgrave Macmillan, vol. 21(4), pages 569-597, September.
    10. Eunsuk Hong & In Lee & Laixiang Sun & Richard Harrison, 2015. "Entrepreneurship across time and space: empirical evidence from Korea," Small Business Economics, Springer, vol. 44(3), pages 705-719, March.
    11. Jenny Berrill & Martha O’Hagan-Luff & André Stel, 2020. "The moderating role of education in the relationship between FDI and entrepreneurial activity," Small Business Economics, Springer, vol. 54(4), pages 1041-1059, April.
    12. In Hyeock (Ian) Lee, 2022. "Startups, relocation, and firm performance: a transaction cost economics perspective," Small Business Economics, Springer, vol. 58(1), pages 205-224, January.
    13. Francesco Quatraro & Marco Vivarelli, 2013. "Entry and Post-Entry Dynamics in Developing Countries," GREDEG Working Papers 2013-20, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.

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