Productive, Unproductive and Destructive Entrepreneurship: A Theoretical and Empirical Exploration

Drawing on Baumolís concepts of productive, unproductive and destructive entrepreneurship and relevant amendments, this thesis aims to contribute to the entrepreneurship literature by developing a conceptual framework which allows operationalising the concepts for empirical assessment. Furthermore, using data from longitudinal survey, author makes one of the first attempts to address the concepts empirically. The results provide with support for the conceptual framework highlighting the importance to shift the focus from firmsí activities to output on both, venture and societal levels, short and long term, when concepts are addressed empirically. Overall findings suggest that productive entrepreneurs are those who are less involved in behaviour such as tax avoidance or illegal business and show a higher level of entrepreneurial orientation.http://deepblue.lib.umich.edu/bitstream/2027.42/64372/1/wp917.pd

New Models of Public Ownership in Energy

This paper discusses some of the new and continuing ways in which the public sector is involved in the electricity / energy sector around the world. This involvement continues to be significant in spite of the longrunning trend towards privatisation, competition and independent regulation in the energy sector. We discuss why the theoretical case for public ownership might be more attractive now than in the recent past. We then discuss six case studies of modern public ownership drawn from the UK (Great Britain and Northern Ireland), Denmark, New Zealand, Finland and Chile. The investments covered include wind and nuclear power, LNG facilities, electricity and gas distribution investments and energy service companies for combined heat and power. We conclude with some outstanding questions raised by the apparently favourable conditions for increased public involvement in energy.ESR

Innovation policy; Europe or the member states?

Innovation seldom has purely domestic causes and consequences, but how can a European innovation policy complement or substitute national policies? Taking the subsidiarity principle as a starting point, this report discusses the economic rationale of a European innovation policy. Explorative empirical analysis suggests that public R&D and public funding of private R&D are subject to economies of scale and external effects. This is an argument in favour of a European innovation policy but amongst other things, the heterogeneity in social economic objectives on public R&D spending between Member States pleas for national government involvement. In addition, there are scale economies in the protection of intellectual property and in the development of standards. We conclude that a European innovation policy could have, or already has, substantial benefits over purely national policy in these areas. With respect to innovation policies targeted at SMEs, we do not find economies of scale or external effects. It seems to be efficient that these policies are mainly conducted at the national level.

The State, Venture Capital and Domestic High-Tech Start-Ups in a Late-Developing Economy - Ireland

Ireland, the “Celtic Tiger” economy of today, had for decades been one of the poorest of the Western European economies. This paper analyses the three-pronged approach of the Irish authorities in promoting successful high-tech start-up firms. An investment climate conducive to the emergence of such firms was first created. Emerging firms were then offered substantial public support in developing their capabilities. Finally, the authorities played a significant role in promoting the emergence of a dynamic venture capital industry. Such interventionist policies would have been highly unlikely to succeed in the absence of strong institutional capacity.

Quo vadis EU? Financing SMEs in the EU

These last years, some European regions and then European institutions have realised the importance of SMEs as instruments of development. The action of DG Enterprise and DG Regio of the European Commission has grown to a large extent out of this realisation. However, access to finance often remains one of the key factors in setting up and developing SMEs. It is an issue that is common to all European Union Member States, and possibly one that also affects a number of States in the US. It is increasingly recognised that SME access to finance is hampered by a number of market failures. But as opposed to the US, the EU does not have a programme equivalent to that operated by the SBA— United States Small Business Administration. So far... This short study is trying to deal with the question of what are the possibilities of Changing the ways of recent times.

An alternative regional strategy

Regions, this extract suggests, cannot bring about regional inequality without significant national level action. The key, it is claimed, is a ‘national commitment to decentre the economy’. As well as re-examining some current regional policy – such as whether knowledge transfer needs to happen locally or how foreign investment might be better harnessed – this manifesto argues that national policy needs to be made far more sensitive to the regional agenda

Smart Specialisation Strategies for Supporting Europe 2020 Vision. Looking at the American Experience: the Case of the Boston Area

These reflections aim to highlight the crucial challenge that European Regions are called to face applying the ‘Research and Innovation Strategies for Smart Specialization’ policy for pursuing the virtuous implementation of EU Cohesion Policy and ‘Europe 2020’ Agenda. The original cultural style of the ‘US Smart Specialization model’, supported by the ‘cluster theory’ and the ‘innovation paradigm’, represents a significant lesson in Boston area

Private equity and infrastructure funds in public services and utilities

This paper discusses the extent and implications of the growth of private equity companies in public service and utility companies in Europe