We find that the enforcement of non-compete clauses significantly impedes entrepreneurship and employment growth. Based on a panel of metropolitan areas in the United States from 1993 to 2002, our results indicate that, relative to states that enforce non-compete covenants, an increase in the...

The English East India Company was one of the most powerful and enduring organizations in history. Between Monopoly and Free Trade locates the source of that success in the innovative policy by which the Company’s Court of Directors granted employees the right to pursue their own commercial...

The English East India Company was one of the most powerful and enduring organizations in history. Between Monopoly and Free Trade locates the source of that success in the innovative policy by which the Company’s Court of Directors granted employees the right to pursue their own commercial...

We find that the enforcement of noncompete clauses significantly impedes entrepreneurship and employment growth. Based on a panel of metropolitan areas in the United States from 1993 to 2002, our results indicate that, relative to states that enforce noncompete covenants, an increase in the...

Using a panel of U.S. metropolitan areas, we find that increases in the supply of venture capital positively affect firm starts, employment, and aggregate income. Our results remain robust to a variety of specifications, including ones that address endogeneity. The estimated magnitudes imply...

We find that the public funding of academic research and venture capital have a complementary relationship in fostering innovation and the creation of new firms. Using panel data on metropolitan areas in the United States, from 1993 to 2002, our analyses reveal that the positive relationships...

This paper is an empirical test of the hypothesis that the appropriateness of different business strategies is conditional on the firm’s distance to the industry frontier. We use data on four 2-digit high-tech manufacturing industries in the US over the period 1972-1999, and apply...

This paper studies the geographical breadth of knowledge spillovers. Previous research suggests that knowledge spillovers benefit from geographical proximity in technologically active and rich regions more than elsewhere. An alternative view explains the geographical breadth of knowledge...

The purpose of the present paper is to explore the possibility to compound in a unique formalization two different but complementary theories of technical change and macroeconomic growth, that is the Kaldorian idea of cumulative causation and the technology-gap approach to economic growth. . The...

Based on empirical data at an aggregate level it has been argued that the propensity to internationalise corporate technological activity is higher among firms originating from smaller countries and in less research-intensive industries. However, more disaggregated evidence on the patenting of...