Employment Generation Potential of New, Technology-Based Firms during a Recessionary Period: The Case of Finland

Erkko Autio and Annaleena Parhankangas

Small Business Economics, 1998, vol. 11, issue 2, 113-23

Abstract: This article analyzes the employment generation potential of new, technology-based firms during a recessionary period. The empirical data is from Finland, a country that was hit particularly hard by the economic recession between years 1990 and 1993. In spite of the recession, the number of NTBFs (new, technology-based firms) rose by 17 percent from 1986 to 1993. In traditional manufacturing industry branches, the overall employment fell by as much as 33 percent during the same period. Alternative hypotheses to explain the increase in the importance of NTBFs are presented and discussed in the light of research findings. Both flexible specialization and recession-push hypotheses receive support in the empirical data. Copyright 1998 by Kluwer Academic Publishers

Date: 1998
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