Michael Fritsch What Impact do Start-Ups Really Have on Regional or National Economic Development?
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After Joseph Schumpeter, economists have given much credence to the role that new business formation plays in regional economic development. In this video, MICHAEL FRITSCH argues that not all Start-Ups are created equal and proposes a more balanced assessment of the factors underlying economic development. Fritsch’s research takes a region-based approach and finds that up to two-thirds of the positive economic effects of new business formation are locatable in incumbent businesses that react effectively to the emergence of innovative challengers. The research poses important questions for economists and governments alike who need to consider not only how to encourage entrepreneurial innovation but also how to support existing businesses to effectively respond to new competitors.
LT Video Publication DOI: https://doi.org/10.21036/LTPUB10636
Entrepreneurship and Growth
- Michael Fritsch
- The Routledge Companion to the Makers of Modern Entrepreneurship
- Published in 2017