The first essay studies the effects of exogenous and endogenous shocks on output sustainability in Central Eastern Europe and Russia during the 2000s. It expands traditional vector autoregressive model to a multi-country model that relates bank real lending, the cyclical component of output and spreads and accounts for cross-sectional dependence across the countries. Impulse response functions show that exogenous positive shock lead to a drop in output sustainability for nine over twelve Central Eastern European countries, when the endogenous shock is mild and ambiguous. Moreover the effect of the exogenous shock is more significant in the aftermath the crises. The second essay investigates variation in entrepreneurial activity, as proxied by the rate of self-employment, across 374 European cities during the period of 1989-2010. While controlling for various spillover effects across cities we find that the rate of self-employment is largely explained by the level of education, urbanisation economies, institutional environment and industrial structure of a city. Self-employment rates are higher in agriculture and fishing industry; trade, hotels and restaurants industry; meanwhile mining, manufacturing and energy sector with higher positive effect of scale abandon self-employment. At the same time a U-shaped relationship per resident income determines existence of both necessity driven and genuine self-employment. The third essay explains variation in entrepreneurship across cities of Commonwealth of Independent States during 1995-2008, utilizing a unique database and employing dynamic panel data analysis. The findings suggest that banking reform facilitates entrepreneurship, whereas the size of the state discourages it. A U-shaped relationship between per capita income and entrepreneurship is confirmed. It's established that a city with a higher concentration of universities is likely to have higher entrepreneurial entry that provides some evidence for the importance of agglomeration economies in terms of knowledge concentration which leads to intensified exchange of ideas and drive knowledge-based entrepreneurship.

Michael Porter has argued that a sustainable economic base can be created in the inner city only if it has been created elsewhere: through private, for-profit, initiatives and investment based on economic self-interest and genuine competitive advantage-not through artificial inducements, charity, or government. Porter's ideas have prompted endorsement as well as criticism. More importantly, they have inspired a search for new solutions to inner city distress as well as a reassessment of current approaches. The Inner City defines a core debate in the United States over the future of a racially divided urban America. It is of inestimable importance to policy analysts, government officials, African American studies scholars, urban studies specialists, sociologists, and all those concerned with inner city revitalization.

Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.

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.

Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.

Entrepreneurship -- manifested in the entry of new firms or products into new markets, or substantial improvements in technological capacity or process innovation by incumbent firms -- is widely considered to be an important ingredient for long term economic development. This report argues that entrepreneurship is also a source of employment generation, export growth, and resilience during economic downturns. Although the conventional wisdom suggests that Latin American and Caribbean countries underperform relative to China and other emerging markets in terms of its entrepreneurial dynamism, t.

This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.