Industrial houses and governments of different countries and groups spend a sizeable amount of their earnings upon research and development activities to create new products and obtain patents for them. The short-run motive is to get patents, and the long-run motive is to influence income growth...

This study examines the firm level drivers of employment growth in East Africa in which they are categorized as firm specific, entrepreneur specific and business environment characteristics. Using a cross-sectional World Bank Enterprise survey dataset and pooled Ordinary Least Squares estimation...

Many governments promote small businesses for the dual reasons of fostering ‘breakthrough' innovations and employment growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs' choice of riskiness of an innovation project and on their mode of commercializing the...

Existing empirical evidence suggests that entrepreneurs are optimists, a finding researchers often interpret as evidence of a behavioral bias in entrepreneurial decision-making. We revisit this claim by analyzing an unusually large survey dataset (180,814 responses) that allows us to create a...

By the late 1960s, real effective taxation of income from individual firm owner-ship in Sweden approached 100 percent. A series of tax reforms initiated in the late 1970s reversed this situation. This paper has a threefold purpose: (1) to elucidate the thinking behind the vision of creating a...