2017
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Revista de Economía Aplicada
JOSÉ LUIS MASSÓN-GUERRA et al., « ENTREPRENEURSHIP CAPITAL AND REGIONAL PRODUCTIVITY REVISITED », Revista de Economía Aplicada, ID : 10670/1.ee9wim
"Government intervention to foster entrepreneurship has been justified by the positive spillovers that regional entrepreneurship capital could have on firms’ productivity. The available evidence shows a positive relationship between entrepreneurship capital measures and regional production. This paper argues that this evidence could be explained not only by said spillovers but also by the presence of decreasing returns to scale in firms’ production technology. The paper provides a simple methodological benchmark for distinguishing between and measuring the two effects. The analysis conducted using a sam- ple of 52 Spanish provinces over 11 years confirms the presence of decrea- sing returns to scale. Therefore, the previous literature could have overesti- mated the spillovers of regional entrepreneurship capital on firms’ production."