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2017 |
José Luis Massón-Guerra, Pedro Ortín-Ángel Entrepreneurship Capital and Regional Productivity Revisited Artículo de revista Revista de Economía Aplicada, 25 (73), pp. 131-142, 2017, ISSN: 1133-455X. Resumen | Enlaces | BibTeX | Etiquetas: Entrepreneurship Capital, regional productivity, scale economies. @article{Massón-Guerra2017, title = {Entrepreneurship Capital and Regional Productivity Revisited}, author = {José Luis Massón-Guerra, Pedro Ortín-Ángel}, editor = {Universidad de Zaragoza}, url = {http://www.revecap.com/revista/ingles/numeros/73/73_inv05.html}, issn = {1133-455X}, year = {2017}, date = {2017-09-15}, journal = {Revista de Economía Aplicada}, volume = {25}, number = {73}, pages = {131-142}, abstract = {Government intervention to foster entrepreneurship has been justified by the positive spillovers that regional entrepreneurship capital could have on firms' productivity. The available evidence shows a positive relationship between entrepreneurship capital measures and regional production. This paper argues that this evidence could be explained not only by said spillovers but also by the presence of decreasing returns to scale in firms' production technology. The paper provides a simple methodological benchmark for distinguishing between and measuring the two effects. The analysis conducted using a sample of 52 Spanish provinces over 11 years confirms the presence of decreasing returns to scale. Therefore, the previous literature could have overestimated the spillovers of regional entrepreneurship capital on firms' production.. }, keywords = {Entrepreneurship Capital, regional productivity, scale economies.}, pubstate = {published}, tppubtype = {article} } Government intervention to foster entrepreneurship has been justified by the positive spillovers that regional entrepreneurship capital could have on firms' productivity. The available evidence shows a positive relationship between entrepreneurship capital measures and regional production. This paper argues that this evidence could be explained not only by said spillovers but also by the presence of decreasing returns to scale in firms' production technology. The paper provides a simple methodological benchmark for distinguishing between and measuring the two effects. The analysis conducted using a sample of 52 Spanish provinces over 11 years confirms the presence of decreasing returns to scale. Therefore, the previous literature could have overestimated the spillovers of regional entrepreneurship capital on firms' production.. |
José Luis Massón-Guerra, Pedro Ortín-Ángel Regional entrepreneurship capital and firm production Artículo de revista Small Business Economics, 43 (3), pp. 595-607, 2017, ISSN: 0921-898X. Resumen | Enlaces | BibTeX | Etiquetas: Entrepreneurship Capital, Panel data, Production function, Production spillovers, Regional growth @article{Guerra2018, title = {Regional entrepreneurship capital and firm production}, author = {José Luis Massón-Guerra, Pedro Ortín-Ángel}, editor = {Springer US}, doi = {10.1007/s11187-017-9851-0}, issn = {0921-898X}, year = {2017}, date = {2017-04-05}, journal = {Small Business Economics}, volume = {43}, number = {3}, pages = {595-607}, abstract = {Certain theories suggest that the capacity of a region to generate new firms, called entrepreneurship capital, has positive spillover effects on the production of the firms in that region. Evidence generated with aggregated data at the regional level supports this prediction. This paper argues that, using aggregated data at the regional level, entrepreneurship capital could be correlated with regional production even if entrepreneurship capital has no spillover effects on firm production. This will not be the case when data at the firm level are used. This paper provides evidence from a sample of 11,276 Spanish firms during the 2004–2012 period. Positive spillovers are estimated in between effects models, but such spillovers are only found in technological firms when within effects models have been estimated. Thus, the regional entrepreneurship capital spillovers are unclear when data at the firm level are used. Plausible interpretations and implications are discussed.}, keywords = {Entrepreneurship Capital, Panel data, Production function, Production spillovers, Regional growth}, pubstate = {published}, tppubtype = {article} } Certain theories suggest that the capacity of a region to generate new firms, called entrepreneurship capital, has positive spillover effects on the production of the firms in that region. Evidence generated with aggregated data at the regional level supports this prediction. This paper argues that, using aggregated data at the regional level, entrepreneurship capital could be correlated with regional production even if entrepreneurship capital has no spillover effects on firm production. This will not be the case when data at the firm level are used. This paper provides evidence from a sample of 11,276 Spanish firms during the 2004–2012 period. Positive spillovers are estimated in between effects models, but such spillovers are only found in technological firms when within effects models have been estimated. Thus, the regional entrepreneurship capital spillovers are unclear when data at the firm level are used. Plausible interpretations and implications are discussed. |
