The influences of economic and technology policy on the dynamics of new firm formation

Young Rok Choi, Phillip H. Phan

Research output: Contribution to journalReview articlepeer-review

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.

Original languageEnglish (US)
Pages (from-to)493-503
Number of pages11
JournalSmall Business Economics
Volume26
Issue number5
DOIs
StatePublished - Jun 2006
Externally publishedYes

Keywords

  • Entrepreneurial policy
  • Government
  • New firm formation

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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