Mayflies and long-distance runners: The effects of new business formation on industry growth
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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|Date of creation:||2007|
|Date of revision:|
|Publication status:||Published in Applied Economics Letters 12 14(2007): pp. 919-922|
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Web page: http://www.vwl.uni-muenchen.de
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- 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.
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- David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, June.
- 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.
- 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.
- Pedroni, Peter, 1999. " Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 653-70, Special I.
- Pamela Mueller, 2005. "Exploring the Knowledge Filter - How Entrepreneurship and University-Industry Relations Drive Economic Growth," ERSA conference papers ersa05p610, European Regional Science Association.
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