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Employment Growth from Public Support of Innovation in Small Firms

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  • Link, Albert N.

    ()
    (University of North Carolina at Greensboro, Department of Economics)

  • Scott, John T.

    ()
    (Dartmouth College)

Abstract

We investigate the impacts of the U.S. publicly-funded Small Business Innovation Research (SBIR) program’s funding on the overall employment growth of SBIR-award recipient firms. This paper is motivated by the U.S. Congress’ continued emphasis of employment growth during its deliberations on the reauthorization of the SBIR program. We set forth a model of employment growth; the model offers a framework through which we can compare the firm’s actual level of employment after receipt of an SBIR award and completion of the research project to the level of employment predicted by the firm’s characteristics prior to the award. Using data collected by the National Research Council within the National Academies, we estimate our model, and we conclude that, on average, the overall employment effects associated with the SBIR program are large absolutely and relative to dollars of funding, but these effects are, in general, not statistically significant.

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Bibliographic Info

Paper provided by University of North Carolina at Greensboro, Department of Economics in its series Working Papers with number 11-17.

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Length: 38 pages
Date of creation: 31 Oct 2011
Date of revision:
Handle: RePEc:ris:uncgec:2011_017

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Postal: Box 26165, Greensboro, NC 27402-6165
Phone: (336) 334-5463
Fax: (336) 334-4089
Web page: http://www.uncg.edu/bae/econ/
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Keywords: Employment growth; Entrepreneurship; Innovation; Technology; Small business;

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References

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  1. Evans, David S, 1987. "The Relationship between Firm Growth, Size, and Age: Estimates for 100 Manufacturing Industries," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 567-81, June.
  2. Steven J. Davis & John Haltiwanger & Scott Schuh, 1993. "Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts," NBER Working Papers 4492, National Bureau of Economic Research, Inc.
  3. David Blanchflower & Simon Burgess, 1998. "New Technology And Jobs: Comparative Evidence From A Two Country Study," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 5(2-4), pages 109-138.
  4. Richardson, G B, 1972. "The Organisation of Industry," Economic Journal, Royal Economic Society, vol. 82(327), pages 883-96, September.
  5. Albert Link & John Scott, 2006. "U.S. University Research Parks," Journal of Productivity Analysis, Springer, vol. 25(1), pages 43-55, 04.
  6. Lerner, Josh, 1999. "The Government as Venture Capitalist: The Long-Run Impact of the SBIR Program," The Journal of Business, University of Chicago Press, vol. 72(3), pages 285-318, July.
  7. Josh Lerner, 2010. "The future of public efforts to boost entrepreneurship and venture capital," Small Business Economics, Springer, vol. 35(3), pages 255-264, October.
  8. Scott, John T & Pascoe, George, 1986. "Beyond Firm and Industry Effects on Profitability in Imperfect Market s," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 284-92, May.
  9. Jonathan Michie & Christine Oughton & Mario Pianta, 2002. "Innovation and the Economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(3), pages 253-264.
  10. Robert Atkinson, 2007. "Expanding the R&E tax credit to drive innovation, competitiveness and prosperity," The Journal of Technology Transfer, Springer, vol. 32(6), pages 617-628, December.
  11. Gregory Tassey, 2007. "Tax incentives for innovation: time to restructure the R&E tax credit," The Journal of Technology Transfer, Springer, vol. 32(6), pages 605-615, December.
  12. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
  13. Albert N. Link & John T. Scott, 2009. "Private Investor Participation and Commercialization Rates for Government-sponsored Research and Development: Would a Prediction Market Improve the Performance of the SBIR Programme?," Economica, London School of Economics and Political Science, vol. 76(302), pages 264-281, 04.
  14. Link, Albert N. & Scott, John T., 2010. "Government as entrepreneur: Evaluating the commercialization success of SBIR projects," Research Policy, Elsevier, vol. 39(5), pages 589-601, June.
  15. David Audretsch & Roy Thurik, 2004. "A Model of the Entrepreneurial Economy," Papers on Entrepreneurship, Growth and Public Policy 2004-12, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  16. Vivarelli, Marco, 2007. "Innovation and Employment: A Survey," IZA Discussion Papers 2621, Institute for the Study of Labor (IZA).
  17. Doms, Mark & Dunne, Timothy & Roberts, Mark J., 1995. "The role of technology use in the survival and growth of manufacturing plants," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 523-542, December.
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Citations

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Cited by:
  1. Albert N. Link & John T. Scott, 2013. "Public R&D subsidies, outside private support, and employment growth," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(6), pages 537-550, September.
  2. Gicheva, Dora & Link, Albert N., 2011. "Leveraging Entrepreneurship through Private Investments: Does Gender Matter?," Working Papers 11-21, University of North Carolina at Greensboro, Department of Economics.
  3. Stuart D. Allen & Stephen K. Layson & Albert N. Link, 2012. "Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program," Research Evaluation, Oxford University Press, vol. 21(2), pages 105-112, March.
  4. David B. Audretsch & Dennis P. Leyden & Albert N. Link, 2013. "Regional Appropriation of University-Based Knowledge and Technology for Economic Development," Economic Development Quarterly, , vol. 27(1), pages 56-61, February.
  5. Link, Albert N. & Scott, John T., 2012. "How the Small Business Innovation Research (SBIR) Program Matters," Working Papers 12-7, University of North Carolina at Greensboro, Department of Economics.
  6. Link, Albert N. & Scott, John T., 2012. "The Exploitation of Publicly Funded Technology," Working Papers 12-5, University of North Carolina at Greensboro, Department of Economics.

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