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Mayflies and long-distance runners: the effects of new business formation on industry growth

  • Oliver Falck

This note analyses the effects of new business formation on industry growth. Dynamic panel techniques are used to test two hypotheses. First, does hit-and-run competition secure efficiency in an industry? Second, do innovative startups lead to amplified innovations by diminishing the knowledge filter? The results illustrate how new businesses can be viewed as either mayflies or long-distance runners.

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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 14 (2007)
Issue (Month): 12 ()
Pages: 919-922

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Handle: RePEc:taf:apeclt:v:14:y:2007:i:12:p:919-922
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  1. Pamela Mueller, 2005. "Exploring the Knowledge Filter - How Entrepreneurship and University-Industry Relations Drive Economic Growth," ERSA conference papers ersa05p610, European Regional Science Association.
  2. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, June.
  3. Zoltan J. Acs & Bo Carlsson & Pontus Braunerhjelm & David B. Audretsch, . "The Missing Link," Papers on Entrepreneurship, Growth and Public Policy 2005-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  4. 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.
  5. Agarwal, Rajshree, 1998. "Evolutionary trends of industry variables," International Journal of Industrial Organization, Elsevier, vol. 16(4), pages 511-525, July.
  6. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
  7. Geroski, P. A., 1995. "What do we know about entry?," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 421-440, December.
  8. Kappler, Marcus, 2004. "Determination of Potential Growth Using Panel Techniques," ZEW Discussion Papers 04-69, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  9. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  10. 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.
  11. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, vol. 92(367), pages 630-53, September.
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