The Impact of Sector Specialization on Entrepreneurial Activity

Haifeng Qian and Huaqun Li
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Haifeng Qian: The George Mason University
Huaqun Li: The George Mason University

Chapter 4 in Public Policy in an Entrepreneurial Economy, 2008, pp 95-115 from Springer

Abstract: Abstract Entrepreneurship is becoming widely recognized for its role in economic growth. The successes of Silicon Valley, Austin Texas, and Northern Virginia in the U.S. suggest that entrepreneurial activity is preferential for specific sectors (e.g. high-technology industries). This implies a sector concentration of entrepreneurship. The author explores whether sector specialization has an impact on the level of entrepreneurial activity or not in U.S. Metropolitan Statistical Areas. The econometric results show that sector specialization is a significant contributor to entrepreneurial activity, while, local factors such as population growth, income growth, unemployment rate, average establishment size and human capital all affect entrepreneurship. The paper sheds some light on the direction that future entrepreneurship policy should take.

Keywords: Economic growth; entrepreneurship; sector specialization; firm formation; region (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-0-387-72663-2_4

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