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
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Mathilde Aubry: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Patricia Renou-Maissant: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique

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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.

Keywords: development; Entrepreneurship; environmental issues; regional economic activity: growth (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (9)

Published in Annals of Regional Science, 2015, 54 (1), pp.23-55. ⟨10.1007/s00168-014-0645-x⟩

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Journal Article: Entrepreneurship and the business cycle: the “Schumpeter” effect versus the “refugee” effect—a French appraisal based on regional data (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01101962

DOI: 10.1007/s00168-014-0645-x

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