We investigate what determines regions' entrepreneurial behavior and the impact of it on regional economic performance. We argue that economic knowledge differs not only from traditional factors of production due to its public goods characteristic but it is also uncertain. In that perspective,...

The neoclassical model of the production, as applied by Robert Solow to built the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor,...

Audretsch and Fritsch (2002) proposed two explanations for the mixed evidence regarding the relationship between new firm formation and regional development. Firstly, they found evidence for the existence of long time lags needed before the main effects of new firm formation on employment change...