Abstract
Entrepreneurship is becoming widely recognized for its role in economic growth. The successes of Silicon Valley, Austin Texas, and Northern Virginia in the U.S. suggest that entrepreneurial activity is preferential for specific sectors (e.g. high-technology industries). This implies a sector concentration of entrepreneurship. The author explores whether sector specialization has an impact on the level of entrepreneurial activity or not in U.S. Metropolitan Statistical Areas. The econometric results show that sector specialization is a significant contributor to entrepreneurial activity, while, local factors such as population growth, income growth, unemployment rate, average establishment size and human capital all affect entrepreneurship. The paper sheds some light on the direction that future entrepreneurship policy should take.
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Qian, H., Li, H. (2008). The Impact of Sector Specialization on Entrepreneurial Activity. In: Acs, Z.J., Stough, R.R. (eds) Public Policy in an Entrepreneurial Economy. International Studies in Entrepreneurship, vol 17. Springer, New York, NY. https://doi.org/10.1007/978-0-387-72663-2_4
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DOI: https://doi.org/10.1007/978-0-387-72663-2_4
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