New business formation, growth, and the industry lifecycle

Oliver Falck

A chapter in Schumpeterian Perspectives on Innovation, Competition and Growth, 2009, pp 301-313 from Springer

Abstract: Abstract Using dynamic panel techniques, this paper analyzes the impact of new business formation on industry growth at different stages of the industry lifecycle. A distinction is made between the effects of two types of entrepreneurs—arbitraging entrepreneurs (hit-and-run competitors) and new knowledge exploiting entrepreneurs (high-quality start-ups). The results reveal that new knowledge exploiting entrepreneurs have a growth-enhancing impact, regardless of industry lifecycle stage. In contrast, arbitraging entrepreneurs have no impact on economic growth.

Keywords: Entrepreneurship; Entry and exit; Growth; Hit-and-run competition; Knowledge; Dynamic panel techniques (search for similar items in EconPapers)
JEL-codes: L26 M13 O31 O41 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-93777-7_17

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DOI: 10.1007/978-3-540-93777-7_17

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