Campus Units

Economics

Document Type

Book Chapter

Publication Version

Submitted Manuscript

Publication Date

2-23-2018

Journal or Book Title

Globalization, International Spillovers and Sectoral Changes: Implications for Regions and Industries

First Page or Article ID Number

198

Last Page

213

DOI

10.4337/9781786432483.00015

Abstract

A majority of economic development programs in the U.S. are aimed at creating jobs; and a growing subset of the funds are allocated to achieving that objective by attracting and creating new firms1. According to a recent Kauffman Foundation report, young firms (those less than 5 years old) account for the vast majority of net new job creation in the U.S. (Wiens and Jackson, 2014). But the empirical reality is that one-third of new start-ups fail within two years of opening and two-thirds exit by their sixth year . The exit rates in table 1 illustrate another common finding demonstrated by Yu et al (2011): that rural firms exit at slower rates than urban firms.

Comments

This is a draft chapter/article. The final version is available in Globalization, International Spillovers and Sectoral Changes: Implications for Regions and Industries edited by C Karlsson, A. Cornett, and T. Wallin, eds, published in 2018, Edward Elgar Publishing Ltd
https://doi.org/10.4337/9781786432483.00015.

The material cannot be used for any other purpose without further permission of the publisher, and is for private use only.

Copyright Owner

Charlie Karlsson, Andreas P. Cornett and Tina Wallin

Language

en

File Format

application/pdf

Published Version

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