Measuring Entrepreneurship Capital and its Role in Economic Growth
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| Title: | Measuring Entrepreneurship Capital and its Role in Economic Growth |
| Author(s): | Jackson, Scott; Stough, Roger R; Song, Chunpu; Sutter, Ryan |
| Keywords: | entrepreneurship capital; entrepreneurial fountain |
| Issue Date: | 15-Jul-2008 |
| Series/Report no.: | GMU School of Public Policy Working Papers |
| Abstract: | Stough, Jackson, Song and Sutter (2006, forthcoming) used the concept of an “entrepreneurial fountain” to deduce and empirically test the efficacy of a new measure of entrepreneurship capital. This new measure was a stock variable, number of small companies in a regional economy, embedded in the logic of the “entrepreneurial fountain” rather than one of the more traditional standard process or change measures (Acs and Audretsch, 2005) such as the number of new start up companies or the churn rate. Unlike for start up and especially churn rate data, the potential importance of this measure is that data for the stock measure is readily available at most levels of analysis (local jurisdiction, region, province and nation). If it can be shown that this stock variable operates or behaves similarly to the more standard measures, then researchers will have a more easily to obtained measure for investigating the relationship between growth and entrepreneurship. Here we briefly review the concept of an entrepreneurial fountain and then describe the results of the research conducted in the earlier paper on growth and entrepreneurship by the authors (2006, forthcoming). In this paper we empirically address a number of questions that arose in that research including specification error and the relative performance of the new measure compared to more standard measures using data for U.S. metropolitan regions. Also results of the U.S. analysis are compared with those obtained in an investigation of entrepreneurship capital among regions in Germany (Audretsch and Keilbach, 2005) in an effort to partially validate those findings. |
| URI: | http://hdl.handle.net/1920/3176 |
| Appears in Collections: | SPP Doctoral Working Papers |
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