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The Influences of Economic and Technology Policy on the Dynamics of New Firm Formation

Author

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  • Young Choi

    ()

  • Phillip Phan

    ()

Abstract

This study attempts to reveal how macroeconomic and technology policies that encompass the opportunity and individual drivers of entrepreneurship explain the dynamics of new firm formation in a country. To do so we rely on the Schumpeterian, industrial organization, and labor economics traditions of entrepreneurship, and performed an exploratory test with longitudinal U.S. data from 1968 to 1993. The results of this study suggest that R&D investments, patents, economic concentration, pro-competition policy, and labor mobility are important areas in which government policy can influence the intensity of new firm formation. Copyright Springer 2006

Suggested Citation

  • 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, June.
  • Handle: RePEc:kap:sbusec:v:26:y:2006:i:5:p:493-503
    DOI: 10.1007/s11187-005-5989-2
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    Citations

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    Cited by:

    1. Emanuela Carbonara & Enrico Santarelli & Hien Thu Tran, 2016. "De jure determinants of new firm formation: how the pillars of constitutions influence entrepreneurship," Small Business Economics, Springer, vol. 47(1), pages 139-162, June.
    2. David B. Audretsch & Dirk Dohse & Annekatrin Niebuhr, 2015. "Regional unemployment structure and new firm formation," Papers in Regional Science, Wiley Blackwell, vol. 94, pages 115-138, November.
    3. James Derbyshire & Garry Haywood, 2007. "Schumpeterian 'Creative Destruction' and Strengthening the Business Stock Through Firm Formation," Research Papers 200739, University of Liverpool Management School.
    4. Hernán Herrera-Echeverri & Jerry Haar & Alexander Arrieta Jiménez & Manuel Araújo Zapata, 2015. "Devaluation, Competitiveness And New Business Formation In Emerging Countries," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-22, September.
    5. Lee, Seung-Hyun & Yamakawa, Yasuhiro & Peng, Mike W. & Barney, Jay B., 2011. "How do bankruptcy laws affect entrepreneurship development around the world?," Journal of Business Venturing, Elsevier, vol. 26(5), pages 505-520, September.
    6. Roberta Piergiovanni & Martin Carree & Enrico Santarelli, 2012. "Creative industries, new business formation, and regional economic growth," Small Business Economics, Springer, vol. 39(3), pages 539-560, October.
    7. Berger, Elisabeth S.C. & Kuckertz, Andreas, 2016. "Female entrepreneurship in startup ecosystems worldwide," Journal of Business Research, Elsevier, vol. 69(11), pages 5163-5168.
    8. N.S. Bosma & E. Stam & S. Wennekers, 2012. "Entrepreneurial Employee Activity: A Large Scale International Study," Working Papers 12-12, Utrecht School of Economics.
    9. Niels Bosma & Sander Wennekers & F. Stam, 2010. "Intrapreneurship - An international study," Scales Research Reports H201005, EIM Business and Policy Research.
    10. Niels Bosma & Sander Wennekers & F. Stam, 2013. "Institutions and the allocation of entrepreneurship across new and established organizations," Scales Research Reports H201213, EIM Business and Policy Research.
    11. Shaoming Cheng & Huaqun Li, 2010. "The effects of unemployment on new firm formation revisited: Does space matter?," Regional Science Policy & Practice, Wiley Blackwell, vol. 2(2), pages 97-120, November.
    12. Wood Matthew & McKinley William & Engstrom Craig L., 2013. "Endings and Visions of New Beginnings: The Effects of Source of Unemployment and Duration of Unemployment on Entrepreneurial Intent," Entrepreneurship Research Journal, De Gruyter, vol. 3(2), pages 171-206, January.
    13. repec:spr:anresc:v:59:y:2017:i:1:d:10.1007_s00168-017-0819-4 is not listed on IDEAS
    14. Robert M. Feinberg, 2009. "Foreign Competition and Small-Firm Entry in US Manufacturing," Working Papers 2009-04, American University, Department of Economics.
    15. Saima Bashir & Tesfa Gebremedhin, 2011. "An Analysis of the Relationship Between New Firm Formation and Economic Development in the Northeast Region of the United States," Working Papers Working Paper 2011-02, Regional Research Institute, West Virginia University.
    16. repec:kap:sbusec:v:49:y:2017:i:2:d:10.1007_s11187-017-9841-2 is not listed on IDEAS
    17. repec:spr:manint:v:52:y:2012:i:1:d:10.1007_s11575-011-0112-1 is not listed on IDEAS

    More about this item

    Keywords

    entrepreneurial policy; government; new firm formation; L50 (Regulation and Industrial Policy-General); M13 (Entrepreneurship) ; M20 (Business Economics-General);

    JEL classification:

    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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