Special Issue Monográfico 2009 'Innovación, emprendimiento y territorio'
Agustí Segarra Blasco
This paper provides a revision on the growing interdependencies that
today we can find among the works that address the business dynamics and spatial
economics. In recent years, an increasing attention to knowledge as competitive resource
of businesses and territories, the presence of increasing returns in growth trajectories
and the role of major metropolitan areas, among others, has facilitated the
study of the dynamics entrepreneurship and innovation from a territorial approach.
The articles compiled in this special issue were presented on Symposium on Business
Dynamics and Innovation: The effects of agglomeration economies, organized
by the Reference Network of Catalonia Applied Economics and Regional Research
David B. Audretsch
This paper shows how and why the Solow growth accounting framework
is useful for linking entrepreneurship capital to economic growth. The knowledge
filter impedes the spillover of knowledge for commercialization, thereby weakening
the impact of knowledge investments on economic growth. By serving as a
conduit for knowledge spillovers, entrepreneurship is the missing link between investments
in new knowledge and economic growth. Entrepreneurship is an important
mechanism permeating the knowledge filter to facilitate the spillover of knowledge
and ultimately generate economic growth. The emergence of entrepreneurship
policy to promote economic growth is interpreted as an attempt to promote entrepreneurship
capital, or the capacity of an economy to generate the start-up and growth
of new firms.
Few areas in economics enjoy better theoretical grounds than Industrial
Organization. And David Austretsch has greatly contributed to improve the IO
field with his own dynamic models of entrepreneurship and, also, the inspiration and
stimulus he has instilled to other scholars. In his article published in this issue Audretsch
discusses two main concepts: one is the model of the filter of knowledge; the
other is the idea of entrepreneurship capital. The concept of filter of knowledge is central to the present discussion about the links between scientific and technological
knowledge generation and its effective rate of transfer to market innovation. It shows
why and how those agents that generate knowledge are seldom the same that get to
commercialize it. The bridge is often an entrepreneur. The second idea, here highlighted,
about entrepreneurship capital has become in some way very popular thanks the
publication of many reports on rates of firm creation. In this case, although the theoretical
concept is worth developing, the empirical application of the model has proven
to be difficult and ambiguous until now.
José Luis González Pernía, Aloña Martiarena Arrizabalaga, Mikel Navarro Arancegui e Iñaki Peña Legazkue
We aim at gaining our understanding on the relationship between innovation capacity, entrepreneurial activity and regional competitiveness at a sub-regional level, by taking into account the heterogeneity of inner locations within a region. Our results show, on the one hand, that high and rapid growth firms benefit from local agglomeration economies which lead to incremental innovation-type R&D activities (i.e., exploitation of synthetic-knowledge) emerged in non-metropolitan areas where new ventures are more focused on `Development´ activities rather than on `Research´ activities. On the other hand, ventures located in metropolitan areas are more related to `Research´ activities (i.e., exploration of analytical-knowledge leading to radical innovation) which particularly take place in universities and technology centers sited in urban (or nearby) areas. Any advancement on regional development will depend on a balanced concentration of different types of innovation and entrepreneurial activities at a sub-regional level considering the idiosyncrasy and singularity of each sub-region.
Antonio García-Tabuenca, José Luis Crespo-Espert and Juan R. Cuadrado-Roura
The existence of restrictions for small- and medium-sized enterprises
(SMEs) to access long-term credit has led governments to establish institutional
systems to facilitate such access and reduce the cost of credit, with the condition
that its feasibility is justified (and assessed) and there are no distortions as regards
competition. Very few empirical in-depth studies exist regarding this field of academic
research, and scarce attention has been paid from a regional perspective.
Due to the characteristics of the business structures in the different regions, as well
as the existence of agglomeration economies and the regional dispersion of the entrepreneurship rate, this paper analyses the effects of the productive financing support
model, provided by the Government of Spain, through the Instituto de Crédito
Oficial (ICO) [Official Credit Institute], on the behaviours and performances of the
beneficiary companies. In the last decade, this source of financing has assigned
30,000 million euro. The results show the general acceptance of this policy due to
its adaptation to the interests of the companies and its contribution to the improvement
of the economic-financial efficiency indicators. Regionally, no substantial
differences have been observed, but the results of this research show a greater contribution to the dynamism of the more progressive regions.
Mercedes Teruel Carrizosa and Agustí Segarra Blasco
This article analyses the effect of immigration flows on the growth
and efficiency of manufacturing firms in Spanish cities. While most studies were focusing on the effect immigrants have on labour markets at an aggregate level, here, we argue that the impact of immigration on firm performance should not only be considered in terms of the labour market, but also in terms of how city´s amenities can affect the performance of firms. Implementing a panel data methodology, we show that the immigrants´ increasing pressure has a positive effect on labour productivity and wages and a negative effect on the job evolution of these manufacturing
firms. In addition, both small and new firms are more sensitive to the
pressures of immigrant inflow, while foreign market oriented firms report higher productivity levels and a less marked impact of immigration than their counterparts.
We also present a set of instruments to control for endogeneity. It allows us to confirm the effect of local immigration flows on the performance of manufacturing firms.
Federico Pablo-Martí y Carlos Muñoz-Yebra
The analysis of the impact of agglomeration economies on firm location
is one of the main issues on Regional Economics. However, despite of the broad
and solid theoretical developments in this area, empirical findings show a worrying
lack of robustness. This paper examines one possible cause: The Modifiable Areal Unit Problem (MAUP). To that end, it is estimated the influence of agglomeration
economies on the firm location in Spain for five different divisions of the territory.
The results indicate that the estimates are very sensitive to the definition of areas of
analysis which cannot be neglected to contrast the hypotheses. Finally, it proposes a
methodology to reduce the drawbacks of MAUP and exploit his potential benefits.
María Callejón y Vicente Ortún
This article highlights the contributions of business dynamics research
to industrial policy design. Business creation support programs are widespread despite the fact that the optimal rate of business creation and destruction remains unknown.
Economic analysis emphasizes heterogeneity as the most salient characteristic
of industrial dynamics. A better knowledge of the different types of entrepreneurs,
their behavior and their specific contribution to innovation and growth would allow
to see into `black box´ of business dynamics and would facilitate the design of appropriate
public policies. The empirical analysis performed shows that self-employment
has a quite different economic nature than business with employees. Public programs
should not promote indiscriminate entry but rather give priority to able entrants with
survival capacities. Survival of entrants is positively related to their size at birth. Innovation
and investment improve the survival of new manufacturing firms. Investment
in R&D increases the risk of failure in new firms, although it improves the competitiveness
of the incumbents.
A new 45-industry, 23-year, dataset for Japan is used to investigate the duration of industry leadership. A new scaling relationship linking a firm´s current market share with the standard deviation of market share changes is reported. This relationship discriminates in a powerful way between rival candidate theoretical models of market share dynamics. It also makes possible a useful simplification in testing a benchmark model of a Markovian kind. Relative to that model, it is found that at least some industries display a `Chandlerian´ bias toward longer durations of leadership than would be present in the benchmark model.
José Carlos Fariñas
This article offers a short introduction to the contributions of John Sutton
to the analysis of market structure, with particular reference to the Bounds Approach.
The article offers a presentation of a recent work of John Sutton, reproduced in
this issue of Investigaciones Regionales, which examines the evolution of market
shares to address debates regarding the `persistence of dominance´ question.
Raquel Ortega-Argilés and Rosina Moreno
Based on the Knowledge Production Function framework given by
Griliches (1979), we slightly modify it so that the innovative output depends upon a
set of factors related to the firm internal characteristics and are influenced by the environment.
Specifically, regarding the firm internal determinants the effect of the concentration
of the ownership, the composition of the boards of directors and the effect
of the nature of the ownership (foreign and public) are analyzed. Additionally, in order
to capture the determinants of the environment in which the firm operates other variables
concerning the internationalization of market, the agglomeration economies and
the regional knowledge externalities are also considered. In order to assess the impact
of these determinants on the number of patents and models of use awarded by the
firm, the discreteness of the latter variable has to be taken into account. We apply Poisson
and Negative Binomial models for a more comprehensive evaluation of the hypothesis
in a panel of Spanish manufacturing firms. The results show patenting activity is
positively favoured by being located in an environment with a high innovative activity,
due to the existence of knowledge spillovers and agglomeration economies.
José Carlos Fariñas y Ana Martín Marcos
The recent evolution of the international trade has been characterized,
among others factors, by an increasing supplying of intermediate inputs in the
international markets. In this article these firm´s decisions are analyzed, comparing
the characteristics of size, productivity, age, intensity of capital, composition of
manpower, innovating effort, costs, participation of foreign capital between the
companies that make international outsourcing and those that do not do it. In order
to organize the empirical analysis we take as reference the model of Antràs and
Helpman (2004) that predicts the companies with greater productivity they select themselves when taking the decision to do international outsourcing. The article offers
empirical evidence that confirms this prediction from a sample of Spanish industrial
companies of the Encuesta sobre Estrategias Empresariales.
José García Quevedo y Sergio Afcha Chávez
This work examines the effects that R&D subsidies have on the R&D performed by the Spanish firms in the period 1998-2005. Despite the growth of empirical evidence with respect to the effects of R&D subsidies on firms´ innovative effort, few papers have established comparisons between technology policies implemented by regional and central governments. After a brief review of the existing literature, firm participation and the effects of R&D programs at regional and central level are analyzed. Empirical evidence is presented, in order to have a basis for comparison about effectiveness of the technology policies in regional and central level.