Employment Growth and Entrepreneurial Activity in Cities

Zoltan J. Acs, () and Catherine Armington

Discussion Papers on Entrepreneurship, Growth and Public Policy from Max Planck Institute of Economics, Group for Entrepreneurship, Growth and Public Policy

Abstract: Recent theories of economic growth have stressed the role of externalities in generating growth. Using data from the Census Bureau that tracks all employers in the whole U.S. private sector economy, we examine the impact of these externalities, as measured by entrepreneurial activity, on employment growth in Local Market Areas. We find that differences in levels of entrepreneurial activity, diversity among geographically proximate industries, and the extent of human capital are positively associated with variation in growth rates, but the manufacturing sector appears to be an exception.

Keywords: Economic growth; Knowledge spillovers; Entrepreneurship; Industry diversity (search for similar items in EconPapers)
JEL-codes: O40 R11 M13 C8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent, nep-geo, nep-ino and nep-ure
Date: 2004-03
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Related works:
Journal Article: Employment Growth and Entrepreneurial Activity in Cities (2004)
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