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Who Creates New Firms When Local Opportunities Arise?

Author: Shai Bernstein

Publisher: International Monetary Fund

Published: 2018-09-28

Total Pages: 73

ISBN-13: 1484377834

New firm formation is a critical driver of job creation, and an important contributor to the responsiveness of the economy to aggregate shocks. In this paper we examine the characteristics of the individuals who become entrepreneurs when local opportunities arise due to an increase in local demand. We identify local demand shocks by linking fluctuations in global commodity prices to municipality level agricultural endowments in Brazil. We find that the firm creation response is almost entirely driven by young and skilled individuals, as measured by their level of experience, education, and past occupations involving creativity, problem-solving and managerial roles. In contrast, we find no such response within the same municipalities among skilled, yet older individuals, highlighting the importance of lifecycle considerations. These responsive individuals are younger and more skilled than the average entrepreneur in the population. The entrepreneurial response of young individuals is larger in municipalities with better access to finance, and in municipalities with more skilled human capital. These results highlight how the characteristics of the local population can have a significant impact on the entrepreneurial responsiveness of the economy.

Who Creates New Firms When Local Opportunities Arise?

Author: Shai Bernstein

Publisher:

Published: 2020

Total Pages: 0

ISBN-13:

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We examine the characteristics of the individuals who become entrepreneurs when local opportunities arise. We identify local demand shocks by linking fluctuations in global commodity prices to municipality-level agricultural endowments in Brazil. We find that the firm creation response is mostly driven by young and skilled individuals. The characteristics of these responsive entrepreneurs are significantly different from those of average entrepreneurs in the economy. By structurally estimating a novel two-sector model of a local economy, we highlight how the demographic composition of the local population can significantly affect the entrepreneurial responsiveness of the economy.

Entrepreneurship: A Very Short Introduction

Author: Paul Westhead

Publisher: OUP Oxford

Published: 2013-11-28

Total Pages: 176

ISBN-13: 019164949X

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There has been an explosion of interest in entrepreneurs in the popular media, as well as in business, policy, and education. But what do entrepreneurs do? What is entrepreneurship and why is it important? What is distinctive about entrepreneurs? And where do they come from? In this Very Short Introduction Paul Westhead and Mike Wright weave a pathway through the debates about entrepreneurship, providing a guide to the entrepreneurial process. They look at how the actions of entrepreneurs are shaped by the external environment and availability of resources, consider the types of organizations in which entrepreneurs can be found, and look at the diversity in their backgrounds, experience, and how they think and learn. Lastly, they consider the impact that entrepreneurs have on modern market economies and look at the future of entrepreneurship in our increasingly globalized world. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Does IT Help? Information Technology in Banking and Entrepreneurship

Author: Toni Ahnert

Publisher: International Monetary Fund

Published: 2021-08-06

Total Pages: 57

ISBN-13: 1513591800

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This paper analyzes the importance of information technology (IT) in banking for entrepreneurship. To guide our empirical analysis, we build a parsimonious model of bank screening and lending that predicts that IT in banking can spur entrepreneurship by making it easier for startups to borrow against collateral. We provide empirical evidence that job creation by young firms is stronger in US counties that are more exposed to ITintensive banks. Consistent with a strengthened collateral lending channel for IT banks, entrepreneurship increases more in IT-exposed counties when house prices rise. In line with the model's implications, IT in banking increases startup activity without diminishing startup quality and it also weakens the importance of geographical distance between borrowers and lenders. These results suggest that banks' IT adoption can increase dynamism and productivity.

A Modern Guide to the Economics of Crime

Author: Buonanno, Paolo

Publisher: Edward Elgar Publishing

Published: 2022-10-14

Total Pages: 415

ISBN-13: 1789909333

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A Modern Guide to the Economics of Crime discusses the evolution of a field, whose growing relevance among scholars and policymakers is partly related to the persistence of crime and violence around the world and partly to the remarkable progress made in recent years in the economic analysis of individual and organised crime. With contributions from some of the leading scholars in the economics of crime, the volume highlights a variety of topics, conceptual frameworks and empirical approaches, thus providing a comprehensive overview of the most recent developments of the field.

Local Economic and Employment Development (LEED) Entrepreneurship and Local Economic Development Programme and Policy Recommendations

Author: OECD

Publisher: OECD Publishing

Published: 2003-03-11

Total Pages: 236

ISBN-13: 9789264199798

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This book examines the principal routes through which enterprise creation can have a positive impact on local economies.

Contemporary Issues in International Business

Author: Davide Castellani

Publisher: Springer

Published: 2018-02-14

Total Pages: 324

ISBN-13: 3319702203

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The ACADEMY OF INTERNATIONAL BUSINESS (UK and Ireland Chapter) Published in association with the UK and Ireland Chapter of the Academy of International Business. This brand new edited collection addresses the growing uncertainty and socio-economic challenges of globalisation and its profound implications for the strategies and operations of multinational enterprises (MNEs). Responding to the new balance in international business, the authors offer valuable insights into the co-evolutionary processes involved in headquarters-subsidiary relationships, the need for novel strategies by MNEs to retain competitive advantage, improve performance and contribute to the global economy.

The Handbook of Economic Development and Institutions

Author: Jean-Marie Baland

Publisher: Princeton University Press

Published: 2020-01-21

Total Pages: 786

ISBN-13: 0691192014

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The definitive reference on the most current economics of development and institutions The essential role that institutions play in understanding economic development has long been recognized across the social sciences, including in economics. Academic and policy interest in this subject has never been higher. The Handbook of Economic Development and Institutions is the first to bring together in one single volume the most cutting-edge work in this area by the best-known international economists. The volume’s editors, themselves leading scholars in the discipline, provide a comprehensive introduction, and the stellar contributors offer up-to-date analysis into institutional change and its interactions with the dynamics of economic development. This book focuses on three critical issues: the definitions of institutions in order to argue for a causal link to development, the complex interplay between formal and informal institutions, and the evolution and coevolution of institutions and their interactions with the political economy of development. Topics examined include the relationship between institutions and growth, educational systems, the role of the media, and the intersection between traditional systems of patronage and political institutions. Each chapter—covering the frontier research in its area and pointing to new areas of research—is the product of extensive workshopping on the part of the contributors. The definitive reference work on this topic, The Handbook of Economic Development and Institutions will be essential for academics, researchers, and professionals working in the field.

Local Management for More Effective Employment Policies

Author: OECD

Publisher: OECD Publishing

Published: 1998-04-03

Total Pages: 108

ISBN-13: 9264162720

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This publication looks at the decentralisation of active labour market policies in OECD countries and shows how local employment management can lead to the implementation of more effective policies.

Road Infrastructure, Inclusive Development and Traffic Safety in Korea

Author: OECD

Publisher: OECD Publishing

Published: 2016-04-22

Total Pages: 150

ISBN-13: 9264255516

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This report combines empirical research on the relationship between road infrastructure, inclusive economic development and traffic safety with an assessment of policies and governance structures to help governments find ways to create effective, safe and inclusive transport infrastructures.