Entrepreneurship Growth And Public Policy

This volume provides a lens to analyze public policy decisions involving entrepreneurship.

Providing a clear summary of the institutions and entrepreneurship research this comprehensive and timely book will be of great interest to anyone involved in public policy. It also offers a practical application for academic research and a rich biblio

While the public policy community has turned to entrepreneurship to maintain, restore, or generate economic prosperity, the economics profession has been remarkably taciturn in providing guidance for public policy for understanding the links between entrepreneurship and economic growth as well as for framing and weighing policy issues and decisions. The purpose of this volume is to provide a lens through which public policy decisions involving entrepreneurship can be guided and analyzed. In particular, this volume provides insights from leading research concerning the links between entrepreneurship, innovation, and economic growth that shed light on implications for public policy. The book makes clear both how and why small firms and entrepreneurship have emerged as crucial to economic growth, employment, and competitiveness as well as the mandate for public policy in the entrepreneurial society.

This work synthesises Zoltan Acs' key contribution to the field of entrepreneurship. Working at the intersection of geography, innovation and growth, the papers pave the way for the remaking of economic society in the 21st century.

This groundbreaking collection of essays by leading economists examines different aspects of entrepreneurship and its relation to public policy. Entrepreneurship has been a subject of much recent discussion among academics and policymakers because of the belief that it invigorates the economy—producing greater productivity, more jobs, and higher economic growth. President George W. Bush promoted his economic plan by pointing to its encouragement of entrepreneurship. Yet, despite its importance, the topic of entrepreneurship is underrepresented in the economics literature. The contributors to Public Policy and the Economics of Entrepreneurship examine different aspects of entrepreneurship and its relation to public policy to help us reach a better understanding of the economic role of entrepreneurs. The contributors, all prominent economists, first consider what policies effectively encourage entrepreneurship, discussing a possible role for government in venture capital markets, the effect of the tax code's subsidy of health insurance for the self-employed, and the impact of banking deregulation on entrepreneurial activity. Two contributors then examine entrepreneurship in "unexpected places"—not small businesses, but large pharmaceutical firms and nonprofit organizations. The final essays explore the effect of entrepreneurship on inequality, looking at statistical evidence of upward mobility for self-employed blacks and Hispanics and discussing the effect on entrepreneurial activity of policies to reduce wealth inequality. The contributors hope, by offering a rigorous economic examination of entrepreneurship, to foster better public policies that encourage and support entrepreneurial activity.

Recent decades have seen substantial growth in the range of assistance programmes for SMEs and entrepreneurs across the world. Once regarded as peripheral to the economy and public policy, the role of small firms and of entrepreneurship is now recognized as of key importance in the economic growth and development strategies of many nations. The range of interventions and support focused on promoting SMEs and entrepreneurship is substantial and expanding, so Government, SMEs and Entrepreneurship Development asks ‘what are some of the main policy instruments being used, and how effective are they?’ It considers policies in different countries, examines key interventions and tools used to promote entrepreneurship and SME development and concludes with contributions on how to best evaluate their effectiveness. The contributor chapters by academics and practitioners from businesses, enterprise development agencies and governments, are empirical or evidence-based and use both quantitative and qualitative approaches. Drawing on experience from a wide range of both developed and emerging countries and economies, the contributions focus on the broad strategies that different governments and communities have adopted to foster entrepreneurship and SMEs; the policy tools and instruments that can be used to promote small business and entrepreneurship; and on the outcomes of policy instruments and the methods used to evaluate interventions. Their findings will help researchers, policy-makers, economic development officers, civil servants, elected officials, and business associations to better understand the issues in this important field.

By serving as a conduit for knowledge spillovers, entrepreneurship is the missing link between investments in new knowledge and economic growth. The knowledge spillover theory of entrepreneurship provides not just an explanation of why entrepreneurship has become more prevalent as the factor of knowledge has emerged as a crucial source for comparative advantage, but also why entrepreneurship plays a vital role in generating economic growth. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spill over of knowledge and ultimately generate economic growth.

This unique volume presents policy recommendations designed to promote entrepreneurship. It considers timely issues like impact of securities regulation, educational policy and intellectual property protection on entrepreneurship. In the process, the book addresses policies operating at the individual, national, regional, and international levels, and offers a unique perspective on several institutional structures that enhance entrepreneurship and economic growth.