TY  - JOUR
A1  - Fossen, Frank M.
A1  - Martin, Thorsten
T1  - Entrepreneurial dynamics over space and time
JF  - Regional science and urban economics
N2  - Entrepreneurship is a regional and persistent phenomenon. We jointly investigate spatial dependence and serial dynamics of new business formation. Using panel data from all 402 German counties for 1996-2011, we estimate dynamic spatial panel data models of start-up activity in the high-tech and manufacturing industries. We consider regions of different sizes and systematically search for the most suitable spatial weights matrices. We find substantial spatial dependence as well as time persistence of start-up activity, especially in the high-tech industry. This suggests that local start-up activity has positive extemal effects and that entrepreneurship policy could play an efficiency-enhancing role.
KW  - Entrepreneurship
KW  - New business formation
KW  - Spatial dependence
KW  - Path dependency
KW  - Persistence
KW  - Spatial panel
Y1  - 2018
U6  - https://doi.org/10.1016/j.regsciurbeco.2018.04.004
SN  - 0166-0462
SN  - 1879-2308
VL  - 70
SP  - 204
EP  - 214
PB  - Elsevier
CY  - Amsterdam
ER  - 
TY  - JOUR
A1  - Konon, Alexander
A1  - Fritsch, Michael
A1  - Kritikos, Alexander
T1  - Business cycles and start-ups across industries
BT  - An empirical analysis of German regions
JF  - Journal of Business Venturing Insights
N2  - We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and non-innovative industries. Entries into the large-scale industries, including the innovative part of manufacturing, are only influenced by changes in the cyclical component of unemployment, while entries into small-scale industries, like knowledge intensive services, are mostly influenced by changes in the cyclical component of GDP. Thus, our analysis suggests that favorable conditions in terms of high GDP might not be germane for start-ups. Given that both innovative and non-innovative businesses react counter-cyclically in ‘regular’ recessions, business formation may have a stabilizing effect on the economy.
KW  - New business formation
KW  - Entrepreneurship
KW  - Business cycle
KW  - Manufacturing
KW  - Services
KW  - Innovative industries
Y1  - 2018
U6  - https://doi.org/10.1016/j.jbusvent.2018.04.006
SN  - 0883-9026
SN  - 1873-2003
VL  - 33
IS  - 6
SP  - 742
EP  - 761
PB  - Elsevier
CY  - Amsterdam
ER  -