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The Boulevard of Broken Dreams: Innovation Policy and Entrepreneurship

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  • Josh Lerner

Abstract

Executive SummaryThe long-run consequences of public policies that facilitate or hinder the development of a venture sector--the impact on national prosperity that a vital entrepreneurial climate can have--are substantial. In many cases, there is likely to be a role for the government in stimulating a vibrant entrepreneurial sector, given the early stage of maturity of these activities in most nations. But at the same time, it is easy for the government to overstep its bounds and squander its investments in this arena. Only by designing a program that reflects an understanding of, and a willingness to listen to, the entrepreneurial process can government efforts be effective.

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  • Josh Lerner, 2013. "The Boulevard of Broken Dreams: Innovation Policy and Entrepreneurship," Innovation Policy and the Economy, University of Chicago Press, vol. 13(1), pages 61-82.
    • Handle: RePEc:ucp:ipolec:doi:10.1086/668239
    DOI: 10.1086/668239
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    1. Samuel Kortum & Josh Lerner, 2000. "Assessing the Contribution of Venture Capital to Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(4), pages 674-692, Winter.
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    Cited by:

    1. Jorge Guzman & Fiona Murray & Scott Stern & Heidi Williams, 2024. "Accelerating Innovation Ecosystems: The Promise and Challenges of Regional Innovation Engines," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 3(1), pages 9-75.
    2. Marios-Panagiotis Efthymiopoulos, 2016. "Cyber-security in smart cities: the case of Dubai," Journal of Innovation and Entrepreneurship, Springer, vol. 5(1), pages 1-16, December.
    3. Ron Crawford, 2021. "Focused innovation policy: Lessons from international experience," Working Papers 2021/03, New Zealand Productivity Commission.
    4. Pahnke, André & Welter, Friederike, 2019. "The German Mittelstand: Antithesis to the Silicon Valley entrepreneurship model?," Working Papers 01/19, Institut für Mittelstandsforschung (IfM) Bonn.
    5. Mehmet Nasih TAĞ & Duygu HIDIROĞLU, 2020. "The Playing Field of Innovative Entrepreneurship: A Multilevel Analysis of Institutional Effects on Female Entrepreneurship," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(44).
    6. Mikhail Yakovlevich Veselovsky & Mikhail Sergeyevich Abrashkin & Dmitry Stanislavovich Vakhrushev & Lyudmila Borisovna Parfenova & Andrey Yuryevich Volkov, 2017. "Knowledge-Based Engineering as a Driver of Economic Development of the Regions of Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 66-85.
    7. Paul Hünermund & Dirk Czarnitzki, 2016. "Estimating the local average treatment effect of R&D subsidies in a pan-European program," Working Papers of Department of Management, Strategy and Innovation, Leuven 541177, KU Leuven, Faculty of Economics and Business (FEB), Department of Management, Strategy and Innovation, Leuven.
    8. André Pahnke & Friederike Welter, 2019. "The German Mittelstand: antithesis to Silicon Valley entrepreneurship?," Small Business Economics, Springer, vol. 52(2), pages 345-358, February.
    9. Torregrosa, Sara & Pelkonen, Antti & Oksanen, Juha & Kander, Astrid, 2017. "Impact of innovation policy on firm innovation – A comparison of Finland and Sweden, 1970-2013," Lund Papers in Economic History 160, Lund University, Department of Economic History.
    10. Nachiket Bhawe & Shaker A. Zahra & Chen Chao & Garry D. Bruton, 2021. "Protectionist policies and diversity of entrepreneurial types," Small Business Economics, Springer, vol. 56(2), pages 789-807, February.

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