Entrepreneurship, Public Policy, and Cities
Since the 2008-09 global financial crises, interest among policy makers in promoting innovative, ventures has exploded. The emerging great hubs of entrepreneurial activity, like Bangalore, Dubai, Shanghai, Silicon Valley, Singapore, and Tel Aviv, b...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/05/19540880/entrepreneurship-public-policy-cities http://hdl.handle.net/10986/18750 |
| Summary: | Since the 2008-09 global financial
crises, interest among policy makers in promoting
innovative, 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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