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on Small Business Management |
| By: | Tristan L. Botelho; Daniel Fehder; Yael Hochberg |
| Abstract: | Entrepreneurship is thought to be a key driver of economic growth. While there are myriad forms of entrepreneurship, ranging from self-employment to small and medium size enterprises to technology- and innovation-driven startups, recent research provides evidence that the relationship between entrepreneurship and economic growth is driven not by overall quantity of new firm entry, but rather by a small subset of high-growth startups that are primarily categorized as innovation-driven. This paper provides a survey of the growing literature on the economics of such innovation-driven entrepreneurship. We begin by distinguishing between the various forms of entrepreneurship, which are often confounded in both theory and empirical work. We lay out the current state of knowledge, and describe the challenges faced by researchers in the field, particularly around measurement, data and identification. We conclude with an overview of the major open questions and directions for future research in the area. |
| JEL: | O0 O3 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28990&r= |
| By: | Zeinab Elbeltagy (Intern, Macroeconomic and Financing for Development Division, UNESCAP); Zenathan Hasannudin (Macroeconomic Policy and Financing for Development Division, UNESCAP) |
| Abstract: | Access to finance has been found crucial in influencing firms’ real activities and economic performance.This paper investigates the relationship between the financing structure and firm performance by explor-ing a unique panel dataset of 59,968 Micro and Small Enterprises (MSEs) operating in the manufacturingsector in Indonesia over the 2010-2015 period. We collected a rich set of information about source ofloans to assess the firm performance using yearly total factor productivity (TFP) and labor productivityof each firm. We then examined whether more financing options available to women entrepreneurshipimproves firm performance. Our results show that financial factors are highly decisive to firms’ TFPand labor productivity. The MSEs which have access to external formal financing directly improvesproductivity at the firm level. Moreover, the study finds a significant underperformance of firms ownedby women entrepreneurs compared to those owned by men entrepreneurs. Nevertheless, we found thatwomen entrepreneurs who have access to formal financing improve their firm’s performance. The effectsof finance on productivity are also linked to the firm’s ownership, education, size and age. Our resultsare robust as demonstrated through the use of different approaches. These results provide support forpolicymakers to alleviate credit constraints to enhance productivity of micro and small enterprises andespecially woman entrepreneurship in Indonesia. |
| Keywords: | Total factor productivity, inclusive financing, woman entrepreneurship |
| JEL: | G21 J16 L25 L26 N65 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:unt:wpmpdd:wp/20/09&r= |
| By: | Andrea MORRISON; Ernest MIGUELEZ |
| Abstract: | How do regions enter new and distant technological fields? Who is triggering this process? This work addresses these compelling research questions by investigating the role of migrant inventors in the process of technological diversification. Immigrant inventors can indeed act as carriers of knowledge across borders and influence the direction of technological change. We test these latter propositions by using an original dataset of immigrant inventors in the context of European regions during the period 2003-2011. Our findings show that: immigrant inventors generate positive local knowledge spillovers; they help their host regions to develop new technological specialisations; they trigger a process of unrelated diversification. Their contribution comes via two main mechanisms: immigrant inventors use their own personal knowledge (knowledge creation); they import knowledge from their home country to the host region (knowledge transfer). Their impact is maximised when their knowledge is not recombined with the local one (in mixed teams of inventors), but it is reused (in teams made by only migrant inventors). Our work contributes to the existing literature of regional diversification by providing fresh evidence of unrelated diversification for European regions and by identifying important agents of structural change. It also contributes to the literature of migration and innovation by adding fresh evidence on European regions and by unveiling some of the mechanisms of immigrants’ knowledge transmission. |
| Keywords: | patents, migration, technological diversification, relatedness, Europe |
| JEL: | O30 F20 F60 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:grt:bdxewp:2021-14&r= |
| By: | Javier Barbero (European Commission - JRC); Olga Diukanova (European Commission - JRC); Carlo Gianelle (European Commission - DG REGIO); Simone Salotti (European Commission - JRC); Artur Santoalha (TIK Centre for Technology, Innovation and culture - UIO) |
| Abstract: | EU regions must formally adopt a Research and Innovation Strategy for Smart Specialisation (RIS3) to access the Cohesion policy funding for research and innovation investments. Smart Specialisation helps regions to identify opportunities for competitive advantages in high value added activities through selectivity and the entrepreneurial discovery process. A recent modelling exercise suggests achieving the R&I numerical targets set by the regional authorities managing the Smart Specialisation funding could lead to substantial GDP gains in the short run and over a longer time horizon. This type of analysis helps quantifying the potential scope of the Smart Specialisation policy based on the objectives set by the RIS3 managing authorities. |
| Keywords: | Rhomolo, Region, Growth, Smart Specialisation; ex-ante policy impact assessment; CGE models; Cohesion policy. |
| JEL: | C68 O38 R13 R58 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc125800&r= |
| By: | Javier Changoluisa (ESAI Business School, Universidad Espiritu Santo, Guayaquil, Ecuador) |
| Abstract: | This paper analyzes the early development of new establishments evaluating the role of spatial selection and agglomeration. The analysis shows a clear and strong selection of more productive new establishments into larger regions, regardless of the foundation type. While at the end of the time-period analyzed new establishments located in larger regions still show higher productivity levels as compared to those located in smaller regions, the role of an agglomeration is very distinct depending on the foundation type. Spin-offs in larger regions tend to keep the higher productivity level shown in the first time period, but start-ups suffer negative agglomeration effects over time. |
| Keywords: | Entrepreneurship, agglomeration, firm selection, productivity |
| JEL: | L26 L25 R30 R12 |
| Date: | 2021–07–22 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2021-009&r= |
| By: | Stojkoski, Viktor; Toshevska-Trpchevska, Katerina; Makrevska Disoska, Elena; Tevdovski, Dragan |
| Abstract: | We explore the complementarities between technological and organizational innovations by utilizing cross-sectional data taken from the Community Innovation Survey - CIS2012 for two group of countries: Central and Eastern Europe (CEE - Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Romania, Slovakia and Slovenia) and Western European countries (WE - Germany, Spain, Norway and Portugal). We find that in CEE there is no complementarity between the different types of innovation analyzed. On the other hand, we show that probably in WE there is complementary relationship between organizational and process innovations, but not between organizational and product innovation. Altogether, this indicates that there is a variety in the relationships between the types of innovation in more developed countries (the WE group), but not in less developed countries (CEE group). |
| Keywords: | innovation, complementarity, CDM model, Western Europe, Central and Eastern Europe |
| JEL: | O31 O33 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108753&r= |
| By: | Porath, Daniel; Nabachwa, Sarah; Agasha, Ester; Kijjambu, Nsambu Frederick |
| Abstract: | The debate on the role of innovation in employment growth is still inconclusive with the available literature focusing largely on industrialised economies. With this concern, we examine the potential of innovations in creating permanent full-time jobs in registered manufacturing companies in Sub-Saharan Africa (SSA) by fitting the model of Van Reenen (1997) to a two-period panel of 687 manufacturing firms. Our paper is the first to examine the impact of innovation on employment with a particular focus on SSA and the first to apply a panel data approach to a larger set of developing countries. Our findings indicate that in the past, innovative firms created more jobs compared to non-innovative ones when controlling for sales, wages, time-invariant firms and country specifics. Likening the results with emerging or developing economies outside of SSA, we find that the effect is considerably larger in SSA than in other regions. As a consequence, we recommend that SSA governments strengthen their technological adaption and adoption mechanisms in their manufacturing sectors to foster innovations. Nonetheless, as a way to discourage imitations (which may not be well aligned to the production demands in SSA), governments are encouraged to invest in sector-specific research and development. |
| Keywords: | Innovation,Employment,Sub Saharan Africa,Panel model,Enterprise Survey |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:uasmdp:102021&r= |
| By: | Ugo Fratesi (Polytechnic University of Milan); Carlo Gianelle (European Commission - JRC); Fabrizio Guzzo (European Commission - JRC) |
| Abstract: | The objective of this report is to provide an account of how and to what extent the Smart Specialisation approach to regional innovation policy has been implemented in practice. The analysis explores how policy measures implemented under the Thematic Objective 1 “Strengthening research, technological development and innovation” of national and regional Operational Programmes, co-financed by the European Regional Development Fund, have incorporated key Smart Specialisation principles during the 2014-2020 programming period. We identify three main design principles of Smart Specialisation and translate them into three research hypotheses characterized in ways that can be tested empirically.We find that the Smart Specialisation strategies under scrutiny mostly apply a limited portfolio of traditional, supply-side instruments. All things considered, there is limited evidence of the implementation of a truly selective intervention logic aimed to support in a dedicated way different investment priorities. We observe quite pervasive support to the establishment of a critical mass of individual and collaborative entrepreneurial initiatives in all the Smart Specialisation areas, while support to the formation and strengthening of stakeholder communities is only present in a very few territories. We find positive although not widespread evidence of the introduction of novel elements in the design of some instruments; this points to a tentative break with tradition and path dependency which is in line with the spirit of Smart Specialisation. Policy implications for the future development and evolution of European regional innovation policy are derived. |
| Keywords: | regional innovation policy, Smart Specialisation, policy instruments, implementation measures |
| JEL: | O25 O30 R12 R58 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc123821&r= |
| By: | Koppe, Timo; Honetschläger, Katharina |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:127515&r= |
| By: | SCHROECKER Doris; WILLE Angelo; SENTIS Pauline; TUEBKE Alexander (European Commission - JRC); HERNANDEZ GUEVARA Hector (European Commission - JRC); GRASSANO Nicola (European Commission - JRC); DIODATO Dario (European Commission - JRC); COMPANO Ramon (European Commission - JRC); CSEFALVAY Zoltan; GEORGAKAKI Aliki (European Commission - JRC); LETOUT Simon (European Commission - JRC); PASIMENI Francesco (European Commission - JRC) |
| Abstract: | This first pilot ‘industrial technology prospect report’ aims to provide an insight into the state of play on R&I in low-carbon industry technologies, which are key for emissions reductions in energy-intensive industries, such as steel, cement and chemicals, covered by the upcoming EU low-carbon industrial alliance20. It concentrates on the maturity of relevant technologies and their potential to help industry reach the EU climate targets. It provides an overview of relevant production costs in industrial sectors, potential cost reductions through new technology and insights into current public and private sector R&D investment and related patenting developments. The report also provides a snapshot of green R&I development and patents in EU regions. This report is the outcome of a model of cooperation between services that will help to provide a strong evidence base to inform future roadmaps supporting R&I in industrial ecosystems and alliances. The approach will be further developed in other areas through and greater involvement of the European Institute for Innovation and Technology (EIT) in analysing the territorial dimension of R&I. the exploitation of existing analytical capacities, targeted use of Horizon Europe results and greater involvement of the European Institute for Innovation and Technology (EIT) in analysing the territorial dimension of R&I. |
| Keywords: | Energy Intensive Industries, Research & Development, Innovation, Technology Roadmap |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc125684&r= |