In this paper we consider why firms sometimes choose an external development path for their own inventions, despite the costs of contracting and the risks of opportunistic behaviour and expropriation. We model the probability that firms adopt an external development strategy using survey data...

This paper builds on an analytical tool for studying entrepreneurship in a new classical general equilibrium framework. The entrepreneurial economy model takes the consumer-producer economy model and makes explicit the role of the entrepreneur. This paper uses it to study entrepreneurial...

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multiproduct firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

Young Innovative Companies (YIC) gained increasing attention from governments and scholars due to their expected high innovative performance and growth. Consequently, this study investigates whether Young Innovative Companies, as defined by the EU, grow more than other firms, both in terms of...

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

We build a tractable growth model where multi-product incumbents invest in internal innovations to improve their existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and internal innovations generate heterogeneous innovation...

What is meant by entrepreneurship, innovation and economic growth is often not clear or very idiosyncratic. This paper starts with a discussion of the nature of entrepreneurship and its relation to innovation. The second section provides an overview of theory and empirical research on the...

Economies of the Midwest United States led the world in entrepreneurialism, wealth creation, and economic transformation in the 20th century. But the institutions created to maintain that wealth are now constraining the region's capacity to make the changes necessary to adapt to the new global...

A number of studies suggest that the availability of broadband reduces firm entry costs associated with informing buyers about products, learning about the market tastes, setting up distribution channels, handling legal paperwork, and learning about regulatory environment. It can decrease the...

We study the impact of ultra-fast broadband (UBB) internet connections on firm entry and exit dynamics. These connections are based on optical fiber cables that link telecommunication operators to final users, allowing a significantly higher performance compared to traditional copper-line...