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http://hdl.handle.net/10419/25645
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| Title: | | The localization of entrepreneurship capital: evidence from Germany  |
| Authors: | | Audretsch, David B. Keilbach, Max |
| Issue Date: | | 2007 |
| Series/Report no.: | | Jena economic research papers 2007,029 |
| Abstract: | | Whereas initially physical capital and later, knowledge capital were viewed as crucial for growth, more recently a very different factor, entrepreneurship capital, has emerged as a dri-ving force of economic growth. In this paper, we define a regions capacity to create new firms start-ups as the regions entrepreneurship capital. We then investigate the local embedded-ness of this variable and which variables have an impact on this variable. Using data for Ger-many, we find that knowledge-based entrepreneurship capital is driven by local levels of knowledge creation and the acceptance of new ideas, indicating that local knowledge flows play an important role. Low-tech entrepreneurship capital is rather increased by regional un-employment and driven by direct incentives such as subsidies. All three measures are locally clustered, indicating that indeed, entrepreneurship capital is a phenomenon that is driven by local culture, and is therefore locally bounded. |
| Subjects: | | Entrepreneurship capital Local Clusters Knowledge Spillovers Spatial Econometrics |
| JEL: | | L60 O30 G30 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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