Download or read book The Impact of Regulation on Entrepreneurship and Innovation written by Erin Lynne Scott and published by . This book was released on 2013 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: While entrepreneurs are hailed as the key to innovation and growth, often in industries where these benefits are most desired, governments add regulations that may handicap entrepreneurs and dampen these benefits. Given the importance of both entrepreneurship and regulation to improving social outcomes, it is imperative for entrepreneurship scholars and policy makers to better understand these apparently countervailing forces of free entry and regulation. This work investigates the impact of regulations on competition, entry, and innovation (productivity growth) using the natural quasi-experimental properties of the U.S. bail bond industry. The first chapter analyzes the impact of entry and operating regulation on price competition. Entry is valued because it triggers competition through lower price-cost margins in the short run and greater efficiency in the long run. However, there is concern that regulations, by restricting entry, may deter competition. I adapt Bresnahan and Reiss' (1991) methodology to examine a proprietary data set of firm counts, demand, and regulations and use counter-factual policy experiments to test not only the effects of regulation on price competition generally, but also the relative effects of particular regulations. This analysis finds the counter-intuitive result that a regulatory environment with entry regulations requires fewer firms than an environment with unrestricted entry to achieve a competitive environment. Operating regulations were found to have no impact on price competition. These results suggest that there does not appear to be a penalty to price competition from regulations. Entrepreneurship is valued primarily because it stimulates Schumpeter's gale of creative destruction. However, a popular view, reinforced by recent empirical work on regulatory reform, is that regulation inhibits entrepreneurship and innovation (productivity growth). The second chapter of my dissertation investigates this relationship. As regulations are designed primarily for first-order concerns such as correcting market failures, it is important to understand the relative performance of different types of regulations with respect to their impact on entry and innovation. However, the literature offers little guidance. This is because prior empirical work has either looked at the impact of a particular regulation or, more commonly, has employed proxy measures of regulatory extent. This analysis uses structural models of the entrepreneur's entry decision and the incumbent's continuation (not to exit) decision to conduct counterfactual policy experiments that allow for comparison of the impact of different regulatory regimes on entry and innovation. Results from this exercise indicate that regulations that operate through firm selection mechanisms decrease firm counts, yet increase innovation whereas regulations that seek to alter firm behavior directly have no impact on firm entry or innovation. These results suggest that it is possible to design regulations without imposing the Schumpeterian cost on innovation. They also provide preliminary evidence as to which regulations best accomplish this goal.

Download or read book Kauffman Dissertation Executive Summary written by Erin Scott and published by . This book was released on 2013 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: While entrepreneurs are hailed as the key to innovation and growth, in industries where these benefits are most desired, government regulations may handicap entrepreneurs and dampen these benefits. Given the importance of both entrepreneurship and regulation to improving social outcomes, it is imperative for entrepreneurship scholars and policy makers to better understand these apparently countervailing forces of free entry and regulation. This work investigates the impact of regulations on competition, entry, and innovation (productivity) using the quasi-experimental properties of the U.S. bail bond industry. The results suggest it is possible to design regulations without inhibiting the benefits of entrepreneurship.

Download or read book Handbook of Innovation and Regulation written by Pontus Braunerhjelm and published by Edward Elgar Publishing. This book was released on 2023-12-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook presents thoughtful analysis on how regulations can impact innovation within a number of fields and markets, and provides a greater understanding of regulatory complexity and the challenging task it presents for future research. The Handbook of Innovation and Regulation embraces some of the key policy areas such as the regulation of markets, critical sectors, and global and regional aspects, focussing particularly on those regulations which target innovation. Reviewing these often interconnected policy areas in terms of both macroeconomic and microeconomic issues, this Handbook expertly studies how regulations in differing fields can affect innovative activities. By placing innovation centre stage, the contributors emphasise the direct and indirect effects of imposed regulations. Further, they illustrate the critically important overall impact of innovation to make firms competitive, promote economic growth and increase societal welfare. Addressing research and policy challenges, this Handbook would be an excellent resource for academics in regulatory economics, innovation and entrepreneurship, international trade, regional economics as well as environment and digitisation and policymakers in both national and international organisations.

Download or read book The Effect of Regulation on Innovation written by Susan E. Dudley and published by . This book was released on 2013 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clear rules of the game (e.g., established property rights and institutions of exchange) are important for innovation and entrepreneurship to flourish, but how those rules are defined is important. The scope and reach of federal regulation in the United States has been increasing over the last 30 years, and while federal agencies often try to quantify the benefits and costs of their regulations before they are issued, those measures are necessarily static, and bounded by data available to, and assumptions made by, the analyst. These analyses cannot capture the organic, dynamic nature of innovation nor anticipate how participants in a market might respond to incentives created by the regulation. Arguments that support “technology forcing” regulations often neglect the opportunities foregone when resources are devoted in a particular direction. Further, because regulations can confer competitive advantage on certain market participants at the expense of others, they provide incentives to focus innovative energy on influencing the rules, rather than innovating along more productive dimensions. Scholarship of the 1960s and 1970s showed that price and entry regulation tended to benefit organized interests at the expense of the broader public interest, and led to the economic deregulation movement that served to increase competition in several previously-regulated industries, with resulting improvements in innovation and consumer welfare. I hope to generate discussion of the effects of regulatory practices on innovation using current examples.

Download or read book Institutional Reform for Innovation and Entrepreneurship written by Niklas Elert and published by Springer. This book was released on 2017-05-11 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY 4.0 license. The authors of this book advise the economies of the European Union to become more entrepreneurial in promoting innovation and economic growth. The authors propose a reform strategy with respect to several aspects to achieve this goal. Starting with the rule of law and the protection of property rights; the tax system; the authors deal with regulations governing savings, capital and finance, and the organization of labor markets and social insurance systems. Framework strategies related to the regulations governing goods and service markets, bankruptcy and insolvency are also put forward. A core understanding and future path is also provided towards R&D, commercialization and knowledge spillovers; human capital investments; and informal institutions.

Download or read book Business Regulation and Public Policy written by André Nijsen and published by Springer Science & Business Media. This book was released on 2008-12-03 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: For years, businesses have complained about the costs of regulatory compliance. On the other hand, society is becoming increasingly aware of the environmental, safety, health, financial, and other risks of business activity. Government oversight seems to be one of the answers to safeguard against these risks. But how can we deregulate and regulate without jeopardizing our public goals or acting as a brake on economic growth? Many instruments are available to assess the effects of laws regulating business, including the regulatory impact assessment (RIA), which contains cost/benefit analysis, cost-effectiveness analysis, risk analysis, and cost assessments. This book argues that public goals will be achieved more effectively if compliance costs of the enterprises are as low as possible. Highlighting examples from a wide spectrum of industries and countries, the authors propose a new kind of RIA, the business impact assessment (BIA), designed to improve both business and public policy decision making.

Download or read book Handbook of Research on Innovation and Entrepreneurship written by David B. Audretsch and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: This path-breaking Handbook analyses the foundations, social desirability, institutions and geography of innovation and entrepreneurship. Leading researchers use their outstanding expertise to investigate various aspects in the context of innovation and entrepreneurship such as growth, knowledge production and spillovers, technology transfer, the organization of the firm, industrial policy, financing, small firms and start-ups, and entrepreneurship education as well as the characteristics of the entrepreneur. There is much in this Handbook that will prove to be informative and stimulating, especially for academics and post-graduate students in economics and management. Those starting a PhD in innovation or entrepreneurship will find this book essential reading.

Download or read book The Impact of Regulation on Innovation written by Philippe Aghion and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable endogenous growth model with size-contingent regulations. We apply this to population administrative firm panel data from France, where many labor regulations apply to firms with 50 or more employees. Nonparametrically, we find that there is a sharp fall in the fraction of innovating firms just to the left of the regulatory threshold. Further, a dynamic analysis shows a sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5.4% lower due to the regulation, a 2.2% consumption equivalent welfare loss. Four-fifths of this loss is due to lower innovation intensity per firm rather than just a misallocation towards smaller firms and lower entry. We generalize the theory to allow for changes in the direction of R&D, and find that regulation's negative effects only matter for incremental innovation (as measured by citations and text-based measures of novelty). A more regulated economy may have less innovation, but when firms do innovate they tend to "swing for the fence" with more radical (and labor saving) breakthroughs.

Download or read book The Impact of Rate of Return Regulation on Technological Innovation written by Mark W. Frank and published by Routledge. This book was released on 2017-05-15 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contends that various forms of regulation have costs as well as benefits and it examines the impact of government regulation on the innovativeness of ’monopolies’ - in this book meaning firms with the power to affect market price. The government regulation analyzed in this case is limited to rate-of-return regulation. Using theoretical models such as the Averch-Johnson model and a two-stage Nash equilibrium model, this volume examines whether regulated monopolies engage in more or less technological innovation than unregulated monopolies. Furthermore, if the unregulated (or less regulated) monopolies do engage in more research and development than regulated ones, it questions whether social welfare would be greater with the former. Using a case study of ten privately-owned electric utilities in the State of Texas, USA, it then tests out the general propositions brought forward by the theoretical modelling and finally makes its conclusions taking into consideration both theoretical and empirical findings.

Download or read book The Relationship Between Regulation Innovation and Entrepreneurship written by Ana Maria Moreno and published by . This book was released on 2016 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States and around the world, awareness of the effects of regulation on innovation and entrepreneurship is increasing. The regulatory environment determines “a certain coding for action, a coding that signals whether various acts are permitted (even required) or prohibited, whether they will be viewed positively, negatively or neutrally, whether they are incentivized or disincentivized, whether they are likely to be praised or criticized, whether they are possible or impossible” (Brownsword & Goodwin, 2012, p. 27). The particular characteristics of such regulatory context can hinder or contribute to the creation and early stage growth of new businesses as well as to the innovation process within a market. Considering this, a deeper understanding of these dynamics is key to improve the role regulation plays in the innovation and entrepreneurial ecosystems.

Download or read book Developing a Framework for Assessing Innovation Productivity and Business Impacts of Regulation written by and published by . This book was released on 2006 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Permissionless Innovation The Continuing Case for Comprehensive Technological Freedom written by Adam Thierer and published by Mercatus Center at George Mason University. This book was released on 2016-03-15 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Will innovators be forced to seek the blessing of public officials before they develop and deploy new devices and services, or will they be generally left free to experiment with new technologies and business models? In this book, Adam Thierer argues that if the former disposition, “the precautionary principle,” trumps the latter, “permissionless innovation,” the result will be fewer services, lower-quality goods, higher prices, diminished economic growth, and a decline in the overall standard of living. When public policy is shaped by “precautionary principle” reasoning, it poses a serious threat to technological progress, economic entrepreneurialism, and long-run prosperity. By contrast, permissionless innovation has fueled the success of the Internet and much of the modern tech economy in recent years, and it is set to power the next great industrial revolution—if we let it.

Download or read book Entrepreneurship and Innovation Policy and the Economy written by Benjamin F. Jones and published by . This book was released on 2024-03-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rigorous nonpartisan research on the effects of economic forces and public policy on entrepreneurship and innovation. Entrepreneurship and innovation are widely recognized as drivers of economic dynamics and long-term prosperity. This series communicates key findings about the implications of entrepreneurial and innovative activity across the economy. Entrepreneurship and Innovation Policy and the Economy, Volume 3, synthesizes key findings about entrepreneurial and innovative activity in the U.S. economy, conveying insights on contemporary challenges and providing an analytical base for policy design. In the first paper, Jorge Guzman, Fiona Murray, Scott Stern, and Heidi Williams examine regional innovation engines and highlight the place-specific actions, potential bottlenecks, and roles of different stakeholders in catalyzing entrepreneurship and innovation. Next, Lee Branstetter and Guangwei Li examine the challenges faced by the Chinese central government in implementing industrial policy to push the technology frontier while local governments and businesses deploy resources to advance their own, not necessarily aligned, interests. Turning to climate issues, James Sallee analyzes policies aimed at accelerating the energy transition by hastening the replacement of durable capital assets like automobiles and residential appliances that last for decades and slow the adoption of cleaner technologies. Joshua Gans studies cryptocurrencies and other crypto-token-based instruments and the broad range of government responses to them, particularly in the U.S. Finally, Ina Ganguli and Fabian Waldinger consider the effects of the Russian invasion of Ukraine on the human capital in the Ukrainian science community.

Download or read book Innovation in New Markets written by Gary D. Libecap and published by JAI Press Incorporated. This book was released on 1988-02-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Editorial Objectives This series aims to present the latest research on entrepreneurship, innovation and the impact on economic performance. Topicality Advances in the Study of Entrepreneurship, Innovation, and Economic Growth (ASEIEG) provides a timely and relevant discussion and exploration of entrepreneurial topics, their impact, and ties to key values in today’s society, such as social, environmental and economic issues and challenges. Topics range from aspects of entrepreneurial behavior to determinants of entrepreneurial research with contributions from top scholars across the US and the globe. Key Benefits Organization and history of series allows a rich, multi faceted foundation for entrepreneurial topics in a rapidly changing information age. Research can be disseminated in a clear and effective manner to promote communication between the business and academic communities and to foster entrepreneurship within the society. Key Audiences Key audiences range from private industry to policy officials to researchers and educators. The role and understanding of entrepreneurship, the implications for current critical conditions and sustained vibrant economies, is rapidly growing. This series provides each with a highly useful blend of topics and scholarly perspectives. Coverage The series includes related articles and papers, frequently driven by organized colloquia and other business/academic exchange, with interdisciplinary perspectives including those of economics, marketing, law, finance, management, history, science, higher education administration and sociology. Coverage includes but is not limited to: Institutional entrepreneurial development Intellectual property concerns, patenting, and other property rights issues Environmental entrepreneurship and innovation Innovation within and across firms Effect of government regulation and tax policies Organizational factors, market structure effects and marketing strategies Entrepreneurship programmes and other educational activities Relative performance of entrepreneurial firms.

Download or read book Questioning the Entrepreneurial State written by Karl Wennberg and published by Springer Nature. This book was released on 2022-04-23 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis and the COVID-19 pandemic have made the authorities to increasingly turn inward and use ethnocentrism, protectionism, and top-down approaches to guide policy on trade, competition, and industrial development. The continuing aftereffects of such policies range from the rise and seeming success of authoritarian states, rise of populist and protectionist trends, and evolving academic agendas inspiring the reemergence of top-down industrial policies across the world. This open access edited volume contains contributions from over 30 scholars with expertise in economics, innovation, management, and economic history. The chapters offer unique theoretical and empirical contributions discussing topics such as how industrial policies affect risk, incentives, and information for investments. They also address the policy perspectives on new technologies such as AI and its implications for market entry, the role for independent entrepreneurship in increasingly regulated markets, and whether governments should focus on market interventions or institutional capacity-building. Questioning the Entrepreneurial State initiates a much sought-after debate on the notion of an Entrepreneurial State. It discusses the dangers of top-down approaches to industrial policy, examines lessons from such approaches for future policy design, and calls attention to the progress of open and contestable markets in a sound economy and society. “Creative destruction, innovation and entrepreneurship are at the core of economic growth. The government has a clear role, to provide the basic fabric of a dynamic society, but industrial policy and state-owned companies are the boulevard of broken dreams and unrealized visions. This important message is convincingly stated in Questioning the Entrepreneurial State.” Anders Borg, former Minister of Finance, Sweden “Misreading the dynamism of American entrepreneurship, European intellectuals and policy makers have embraced a dangerous fantasy: catching up requires constructing an entrepreneurial state. This book provides a vital antidote: The entrepreneur comes first: The state may support. It cannot lead.” Amar Bhidé, Thomas Schmidheiny Professor of International Business, Tufts University “This important new book subjects the emergence of the entrepreneurial state, which reflects a shift in the locus of entrepreneurship from the individual to the public sector, to the scrutiny of rigorous analysis. The resulting concerns, flaws and biases inherent in the entrepreneurial state exposed are both alarming and sobering. The skill and scholarly craftsmanship brought to bear in this crucial analysis is evident throughout the book, along with the even, but ultimately consequential thinking of the authors. A must read for researchers and thought leaders in business and policy." David Audtretsch, Distinguished Professor, Ameritech Chair of Economic Development, Indiana University

Download or read book Entrepreneurship and Economic Growth written by David B. Audretsch and published by Oxford University Press. This book was released on 2006-04-27 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: By serving as a conduit for knowledge spillovers, entrepreneurship is the missing link between investments in new knowledge and economic growth. The knowledge spillover theory of entrepreneurship provides not just an explanation of why entrepreneurship has become more prevalent as the factor of knowledge has emerged as a crucial source for comparative advantage, but also why entrepreneurship plays a vital role in generating economic growth. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spill over of knowledge and ultimately generate economic growth.

Download or read book The Impact of Regulation on Innovation written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: