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Schumpeterian 'Creative Destruction' and Strengthening the Business Stock Through Firm Formation

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  • James Derbyshire

    (Management School, University of Liverpool, UK)

  • Garry Haywood
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    Abstract

    Atherton (2006) has noted that the current policy preoccupation with increasing start-up levels is often justified in terms of Schumpeterian creative destruction which facilitates evolutionary strengthening in the business stock. This article seeks to consider the validity of this justification. Beyond this, this article shows that the most commonly employed measures of firm formation, the ‘business stock’ and ‘labour market’ approaches, and the most commonly employed dataset, the VAT data, are inadequate for assessing policy couched in Schumpeterian terms as they are unable to account for the evolution of the business stock. A new dataset employing new measures better able to account for the challenge to the business stock brought about by formation is introduced.

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    File URL: http://www.liv.ac.uk/managementschool/research/working%20papers/wp200739.pdf
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    Bibliographic Info

    Paper provided by University of Liverpool Management School in its series Research Papers with number 200739.

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    Length: 18 pages
    Date of creation: 2007
    Date of revision:
    Handle: RePEc:liv:livedp:200739

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    Postal: Management School University of Liverpool, Chatham Street, Liverpool, L69 7ZH, Great Britain
    Phone: +44(0)151 795 3108
    Fax: +44(0)151 795 3004
    Web page: http://www.liv.ac.uk/management/
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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Michael Luger & Jun Koo, 2005. "Defining and Tracking Business Start-Ups," Small Business Economics, Springer, vol. 24(1), pages 17-28, January.
    2. Ron Boschma & Koen Frenken, 2004. "Why is Economic Geography not an Evolutionary Science?," ERSA conference papers ersa04p393, European Regional Science Association.
    3. Ron A. Boschma & Koen Frenken, 2006. "Why is economic geography not an evolutionary science? Towards an evolutionary economic geography," Journal of Economic Geography, Oxford University Press, vol. 6(3), pages 273-302, June.
    4. Fritsch, Michael & Falck, Oliver, 2007. "New business formation by industry over space and time: A multidimensional analysis," Munich Reprints in Economics 20306, University of Munich, Department of Economics.
    5. Peter Johnson, 2005. "Targeting Firm Births and Economic Regeneration in a Lagging Region," Small Business Economics, Springer, vol. 24(5), pages 451-464, 06.
    6. Adriaan J. van Stel & David J. Storey, 2004. "The link between firm births and job creation: Is there a Upas Tree effect?," Papers on Entrepreneurship, Growth and Public Policy 2004-33, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    7. Prof John Foster, 2004. "Why is Economics not a Complex Systems Science?," Discussion Papers Series 336, School of Economics, University of Queensland, Australia.
    8. David Audretsch & Michael Fritsch, 2002. "Growth Regimes over Time and Space," Regional Studies, Taylor & Francis Journals, vol. 36(2), pages 113-124.
    9. Ash Amin, 1999. "An Institutionalist Perspective on Regional Economic Development," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 23(2), pages 365-378, 06.
    10. Young Choi & Phillip Phan, 2006. "The Influences of Economic and Technology Policy on the Dynamics of New Firm Formation," Small Business Economics, Springer, vol. 26(5), pages 493-503, 06.
    11. Michael Fritsch & Pamela Mueller, 2004. "The Effects of New Business Formation on Regional Development over Time," Papers on Entrepreneurship, Growth and Public Policy 2004-36, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    12. Johnson, Peter & Conway, Cheryl, 1997. " How Good Are the U.K. VAT Registration Data at Measuring Firm Births?," Small Business Economics, Springer, vol. 9(5), pages 403-09, October.
    13. Catherine Armington & Zoltan Acs, 2002. "The Determinants of Regional Variation in New Firm Formation," Regional Studies, Taylor & Francis Journals, vol. 36(1), pages 33-45.
    14. Michael Fritsch & Pamela Mueller, 2004. "Effects of New Business Formation on Regional Development over Time," Regional Studies, Taylor & Francis Journals, vol. 38(8), pages 961-975.
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