Entrepreneurship, Public Policy, and Cities
Since the 2008-09 global financial crises, interest among policy makers in promoting innovative, high-potential ventures has exploded. The emerging great hubs of entrepreneurial activity, like Bangalore, Dubai, Shanghai, Silicon Valley, Singapore,...
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| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/11/18862585/entrepreneurship-public-policy-cities http://hdl.handle.net/10986/17601 |
| Summary: | Since the 2008-09 global financial
crises, interest among policy makers in promoting
innovative, high-potential ventures has exploded. The
emerging great hubs of entrepreneurial activity, like
Bangalore, Dubai, Shanghai, Silicon Valley, Singapore, and
Tel Aviv, bear the unmistakable stamp of the public sector.
Enlightened government intervention played a key role in
each region's emergence. But for each effective
government intervention, dozens, even hundreds,
disappointed, with substantial public spending bearing no
fruit. This paper sheds light on how governments can avoid
mistakes in stimulating entrepreneurship. In recent decades,
efforts have increased to provide the world's poorest
with financing and other assistance to facilitate their
entry into entrepreneurship or the growth of their small
ventures. These are typically subsistence businesses
offering services like snack preparation or clothing repair.
Such businesses typically allow business owners and their
families to get by, but little else. The public policy
literature, along with academic studies of new ventures,
often does not distinguish among the types of businesses
being studied. The author will focus here exclusively on
high-potential new ventures and the policies that enhance
them. This choice, not intended to diminish the importance
of efforts to boost microenterprises, reflects the
complexity of the field: the dynamics and issues involving
micro firms are quite different from those of their
high-potential counterparts. A substantial literature
suggests that promising entrepreneurial firms can have a
powerful effect in transforming industries and promoting innovation. |
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