New firm formation facing cultural and racial diversity

Shaoming Cheng and Huaqun Li

Papers in Regional Science, 2012, vol. 91, issue 4, 759-774

Abstract: This paper is intended to examine how regional diversity in terms of cultural and racial diversity affects new firm formation in 10 disaggregated industrial sectors across US counties. Bayesian Markov Chain Monte Carlo method is used to estimate the spatial autoregressive regression models. It is suggested that regional diversity positively affects new firm formation, both in its own and neighbouring counties, in selected industries examined. Resumen Este artículo tiene por objeto examinar cómo la diversidad regional expresada en forma de diversidad cultural y racial afecta a la formación de nuevas empresas en 10 sectores industriales desagregados en condados de los Estados Unidos. Se utiliza el método de Monte Carlo bayesiano basado en cadenas de Markov para estimar los modelos de regresión espaciales autorregresivos. Se sugiere que, en las industrias seleccionadas examinadas, la diversidad regional afecta positivamente a la formación de nuevas empresas, tanto en el propio condado como en los vecinos.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:bla:presci:v:91:y:2012:i:4:p:759-774

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