全球智库信息集成服务系统(G2TT): DP17400 Startup Types and Macroeconomic Performance in Europe

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP17400
	DP17400 Startup Types and Macroeconomic Performance in Europe
	Ralph De Haas; Vincent Sterk; Neeltje van Horen
发表日期	2022-06-21
出版年	2022
语种	英语
摘要	Can policymakers improve macroeconomic performance by encouraging the entry of high-performance startups? To answer this question, we construct a novel and comprehensive data set on 1.3 million startups in ten European countries. We apply cluster analysis to identify distinct startup types and trace their development over time. Three stylized facts transpire. First, we uncover five well-separated startup types that are consistently present across countries, industries, and cohorts. We label these Basic, Large, Capital-intensive, Cash-intensive, and High-leverage. Second, the initial differences between these startup types are persistent. Third, each startup type displays a characteristic life cycle in terms of productivity, employment generation, and exit rates. We feed these empirical results into an agnostic firm dynamics model to quantify how much structural policy could improve macroeconomic performance by shifting the composition of startups. We find that substantial gains in aggregate employment and productivity can be made through policies that benefit high-performance startups (such as large and capital-intensive ones) while discouraging the entry of underperforming firms (such as highly leveraged ones).
主题	Financial Economics ; Industrial Organization ; International Macroeconomics and Finance ; Macroeconomics and Growth ; Public Economics
关键词	Startups Firm entry Productivity Corporate tax entrepreneurship Cluster analysis
URL	https://cepr.org/publications/dp17400
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/546468
推荐引用方式 GB/T 7714	Ralph De Haas,Vincent Sterk,Neeltje van Horen. DP17400 Startup Types and Macroeconomic Performance in Europe. 2022.