Entrepreneurship and the business cycle: the “Schumpeter” effect versus the “refugee” effect—a French appraisal based on regional data
<Para ID="Par1">We study the influences of new-firm start-ups on growth at the regional and macroeconomic level in France using a quarterly database over the 1993–2011 period. We find that fluctuations in GDP are an early indicator of new-firm start-ups. Nevertheless, the most important relationships are found between the unemployment rate and new-firm start-ups. Entrepreneurship is mainly driven by an unemployment “push” effect that have consequences upon the potential of growth of new-firm start-ups in most of the French regions. The Île-de France region is an exception since the “Schumpeter” effect prevails in the long term. Copyright Springer-Verlag Berlin Heidelberg 2015
Year of publication: |
2015
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Authors: | Aubry, Mathilde ; Bonnet, Jean ; Renou-Maissant, Patricia |
Published in: |
The Annals of Regional Science. - Western Regional Science Association - WRSA. - Vol. 54.2015, 1, p. 23-55
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Publisher: |
Western Regional Science Association - WRSA |
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