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New business formation, growth, and the industry lifecycle

In: Schumpeterian Perspectives on Innovation, Competition and Growth

Author

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  • Oliver Falck

    (Ifo Institute for Economic Research and CESifo)

Abstract

Using dynamic panel techniques, this paper analyzes the impact of new business formation on industry growth at different stages of the industry lifecycle. A distinction is made between the effects of two types of entrepreneurs—arbitraging entrepreneurs (hit-and-run competitors) and new knowledge exploiting entrepreneurs (high-quality start-ups). The results reveal that new knowledge exploiting entrepreneurs have a growth-enhancing impact, regardless of industry lifecycle stage. In contrast, arbitraging entrepreneurs have no impact on economic growth.

Suggested Citation

  • Oliver Falck, 2009. "New business formation, growth, and the industry lifecycle," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 301-313, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-93777-7_17
    DOI: 10.1007/978-3-540-93777-7_17
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    Cited by:

    1. Michael Fritsch & Florian Noseleit, 2013. "Start-ups, long- and short-term survivors, and their contribution to employment growth," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 719-733, September.

    More about this item

    Keywords

    Entrepreneurship; Entry and exit; Growth; Hit-and-run competition; Knowledge; Dynamic panel techniques;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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