Entrepreneurship, Public Policy, and Cities

Lerner, Josh

World Bank, Washington, DC

关键词: ADVANCED COUNTRIES;    ADVANCED ECONOMIES;    AFFILIATED ORGANIZATIONS;    AGENCY PROBLEMS;    AMOUNT OF CAPITAL;   

DOI  :  10.1596/1813-9450-6880
RP-ID  :  WPS6880

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Since the 2008-09 global financialcrises, interest among policy makers in promotinginnovative, ventures has exploded. The emerging great hubsof entrepreneurial activity, like Bangalore, Dubai,Shanghai, Silicon Valley, Singapore, and Tel Aviv, bear theunmistakable stamp of the public sector. Enlightenedgovernment intervention played a key role in eachregion's emergence. But for each effective governmentintervention, dozens, even hundreds, disappointed, withsubstantial public spending bearing no fruit. This papersheds light on how governments can avoid mistakes instimulating entrepreneurship. In recent decades, effortshave increased to provide the world's poorest withfinancing and other assistance to facilitate their entryinto entrepreneurship or the growth of their small ventures.These are typically subsistence businesses offering serviceslike snack preparation or clothing repair. Such businessestypically allow business owners and their families to getby, but little else. The public policy literature, alongwith academic studies of new ventures, often does notdistinguish among the types of businesses being studied. Theauthor will focus here exclusively on high-potential newventures and the policies that enhance them. This choice,not intended to diminish the importance of efforts to boostmicroenterprises, reflects the complexity of the field: thedynamics and issues involving micro firms are quitedifferent from those of their high-potential counterparts. Asubstantial literature suggests that promisingentrepreneurial firms can have a powerful effect intransforming industries and promoting innovation.