Entrepreneurship and the business cycle: the “Schumpeter” effect versus the “refugee” effect—a French appraisal based on regional data

Mathilde Aubry (), Jean Bonnet and Patricia Renou-Maissant ()

The Annals of Regional Science, 2015, vol. 54, issue 1, 23-55

Abstract: We study the influences of new-firm start-ups on growth at the regional and macroeconomic level in France using a quarterly database over the 1993–2011 period. We find that fluctuations in GDP are an early indicator of new-firm start-ups. Nevertheless, the most important relationships are found between the unemployment rate and new-firm start-ups. Entrepreneurship is mainly driven by an unemployment “push” effect that have consequences upon the potential of growth of new-firm start-ups in most of the French regions. The Île-de France region is an exception since the “Schumpeter” effect prevails in the long term. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: L26; E32; R11 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s00168-014-0645-x

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