Explaining regional variations in entrepreneurship as multiple equilibria

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Abstract

The paper proposes a human capital-based model of choice between paid employment and entrepreneurship that can give rise to multiple equilibria in occupational structure. The model is consistent with evidence of pronounced, persistent, and hitherto unexplained regional variations in entrepreneurship. Whether multiple equilibria emerge is shown to depend on the occupation-specific productivity of human capital and the costs of human and financial capital. The paper goes on to discuss the implications for governments seeking to promote entrepreneurship as a tool of regional development policy.
Original languageEnglish
Pages (from-to)829-850
Number of pages22
JournalJournal of Regional Science
Volume45
Issue number4
Early online date18 Oct 2005
DOIs
Publication statusPublished - Nov 2005

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human capital
regional difference
entrepreneurship
regional development
occupation
productivity
development policy
finance
cost
costs
evidence
policy

Cite this

Explaining regional variations in entrepreneurship as multiple equilibria. / Parker, Simon.

In: Journal of Regional Science, Vol. 45, No. 4, 11.2005, p. 829-850.

Research output: Contribution to journalArticle

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