Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19960
Authors: 
Ács, Zoltán J.
Armington, Catherine
Year of Publication: 
2004
Series/Report no.: 
Papers on entrepreneurship, growth and public policy 1504
Abstract: 
Although human capital externalities are a key variable in theories of economic growth, there has been little investigation of the mechanism by which these externalities are realized. We examine the relationship between the local levels of human capital and firm formation rates and find that formation rates differ with the share of adults with college degrees, especially for industries that normally require college-educated founders. They also differ strongly with the local concentration of existing establishments in the same sector, especially for industries serving non-local markets, suggesting that an important mechanism is the spillover of relevant knowledge.
Subjects: 
Firm formation
Knowledge spillovers
Entrepreneuship
Human capital
Regional growth
JEL: 
R1
M13
J24
L80
O3
Document Type: 
Working Paper

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