Federal Policies in Response to Declining Entrepreneurship

Congressional Budget Office

No 56906, Reports from Congressional Budget Office

Abstract: Entrepreneurship has declined significantly in the United States over the past four decades. That decline has implications for economic growth because new firms provide innovative products and services, improve the productivity of the workforce, and ensure competition in the marketplace. The decline in entrepreneurship has been associated with a decrease in annual productivity growth, in CBO’s assessment, and is frequently attributed to three types of factors. The effects of financial and demographic factors are supported by strong evidence.

JEL-codes: D24 M21 O00 (search for similar items in EconPapers)
Date: 2020-12-29
New Economics Papers: this item is included in nep-ent and nep-sbm
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