Microenterprises and economic growth: a panel study of the US states 1977-1997

Steven Deller () and James Mcconnon ()

Applied Economics Letters, 2009, vol. 16, issue 13, 1307-1312

Abstract: In this study, we examine the role of microenterprises in US economic growth. Using a panel of the 48 lower US states from 1977 to 1997, we estimate an expanded Carlino-Mills type model of growth. Microenterprises are defined as having between one and four employees. Results suggest that a higher share of goods producing firms that are microenterprises tend to be associated with lower levels of population, employment and income growth, while a higher share of service producing firms classified as micro are associated with higher levels of growth. These results suggest that care must be taken when promoting microenterprises as a major engine of economic growth.

Date: 2009
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DOI: 10.1080/13504850701367361

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