Bridget Abraham

Bio: Bridget Abraham is an academic researcher. The author has contributed to research in topics: Rural area & Rural economics. The author has an hindex of 4, co-authored 5 publications receiving 71 citations.

Main Streets of Tomorrow: Growing and Financing Rural Entrepreneurs-A Conference Summary

Abstract: Entrepreneurship is the new focal point for rural development This was the consensus of 200 rural policy officials and experts who gathered in Kansas City on April 28-29 for the fourth annual rural policy conference hosted by the Federal Reserve Bank of Kansas City's Center for the Study of Rural America For much of the past half century, rural development has been driven by twin incentives aimed at business recruitment and retention This strategy is no longer working so well, however, for one simple reason-globalization In a global marketplace, lower cost business sites abound, making rural incentives much less effective Now, more and more rural regions are turning their attention to the "third leg of the development tool" growing more businesses on Main Street The new focus is long overdue, participants agreed, and has great promise for boosting rural economic growthMaking entrepreneurship the new focus of rural policy will not be easy Entrepreneurship cannot offer a quick fix since businesses take time to grow That runs counter to the short-term focus of elected officials Existing entrepreneurship programs do not offer a systematic approach to future business innovation and may need to be overhauled; yet there is still much information needed on which programs work best in which rural regions Many rural entrepreneurs lack sufficient equity capital, but there is little consensus on what policy can do to fill the gapDespite these challenges, most conference participants agreed that rural policies built around entrepreneurship offer the greatest chance of helping rural regions Key to adopting such policies, however, will be a concerted effort to better understand the links between entrepreneurship and regional economies, to inform policymakers of these benefits, and to develop a more systematic approach to supporting the unique needs of rural entrepreneursI RURAL ENTREPRENEURSHIP IN THE 21ST CENTURYIn the first session of the conference, David Sampson discussed the economic proposals of the White House and how these would help entrepreneurs by reducing taxes, encouraging investment, and removing obstacles to growth He recognized the important role that small entrepreneurial companies play in the US economy-such companies created over two-thirds of new jobs and accounted for two-thirds of the innovation in the last 20 years Sampson referred to small entrepreneurial companies as the "engines of innovation" that "transform new ideas and technology into real products and services sold to real customers in real markets, creating real jobs" He noted that innovations need not be high-tech, but rather focused on superior quality, efficiency, and costFederal policies can play a role in spurring more entrepreneurs on Main Street Sampson suggested that federal economic development programs should encourage and strengthen innovation, entrepreneurship, and competitiveness of areas and ultimately add more jobs Federal programs should empower regions and communities, especially those with struggling economies The Economic Development Administration is paying particularly close attention to creating a positive business environment for companies referred to as "gazelles"-small, innovative companies that grow quicldy However, conference rapporteur Brian Dabson, along with other participants, argued that high-growth entrepreneurs are rare and perhaps should not be the sole focus of entrepreneurship strategies Sampson also pointed out that innovations do not have to be based solely on new technologies, but rather on superior execution-beating the competition based on quality, efficiency, and cost Companies can achieve high rates of growth by being innovative with their services, processes, or marketing techniquesFour characteristics are used to describe entrepreneurs, as outlined by Sampson First, entrepreneurs view globalization not as a challenge but as a whole realm of opportunities …

Can Rural America Support a Knowledge Economy

Abstract: Knowledge has become the new premium fuel for economic growth in the 21st century. Knowledge fuels new ideas and innovations to boost productivity-and to create new products, new firms, new jobs, and new wealth. Some analysts estimate that knowledge-based activity accounts for half of the gross domestic product in Western industrialized countries. In the United States, knowledge-based industries paced gross domestic product (GDP) growth from 1991 to 2001, and their importance has accelerated since 1995.In rural America, as elsewhere, a variety of factors make knowledge-based growth possible: high-skilled labor, colleges and universities, vibrant business networks, and infrastructure. Some rural communities are already leveraging these assets to transform their economy. Many other rural places, however, have yet to tap this rich economic potential.This article analyzes the factors essential to rural knowledge-based activity in rural America. The first section defines knowledge-based economic activity, describes its growing importance in the U.S. economy, and identifies the regions of the country where it is concentrated. The second section uses empirical evidence to identify the factors that are essential to rural knowledge-based activity. The third section describes how some rural communities are leveraging these factors to build their own knowledge economy.I. KNOWLEDGE: THE NEW ECONOMIC FUELTraditionally, economic growth was based on the physical resources and the products they produced. Today, knowledge powers the U.S. economy by generating new ideas and innovations that boost productivity and create new products.What is knowledge-based economic activity?Knowledge-based activities emerge from an intangible resource that enables workers to use existing facts and understandings to generate new ideas. These ideas produce innovations that lead to increased productivity, new products and services, and economic growth. In short, knowledge-based growth is derived from people's knowledge or ability to combine education, experience, and ingenuity to power growth.Knowledge is often equated with information because both assets are intangible. Information, however, can be written down or outlined in a patent or process, making it easy to reproduce. Pieces of writing, artwork, music, movies, and datasets are information because they can be reproduced with the click of a button or the exchange of a CD. By contrast, the knowledge used to produce information is harder to codify or summarize on a piece of paper (Audretsch, Queau). Knowledge evolves and continuously combines varying pieces of information to meet changing needs.1 For example, the information architects create in the form of blueprints can be easily reproduced, but the knowledge used to create them is difficult to replicate as it is embedded in the education, experience, and ingenuity of the architect. In addition, it takes knowledge to alter or transform information-in this case, altering blueprints or turning them into buildings. As a result, knowledge is considerably less tangible than information.Knowledge is also different from information and other resources because it produces spillovers. Spillovers are benefits to people beyond those who possess the knowledge. Like other resources, knowledge gives a direct boost to the economic growth of people, firms, and communities that have higher stocks of knowledge. But knowledge also provides indirect benefits by boosting the knowledge levels of other people, firms, and communities.2 Returning to our example, an architect can produce spillovers by interacting with other local architects and boosting their knowledge levels, such as through business mentoring.Because of spillovers, the full potential of knowledge as the fuel for economic growth expands with the increasing interactions of people. Knowledge is enhanced through personal interactions, observation, action, and experience. …

An update on rural broadband

Abstract: Internet use has grown faster than any other technology before its time, and high-speed data services are following a similar trend. Rural areas still trail the rest of the country in broadband access, though—for the simple reason that too few rural residents must share the high costs of new high-speed infrastructure. While rural areas are likely to trail metro areas for some time, new technologies have emerged that promise to help rural areas bridge the digital divide. These new technologies offer alternatives to traditional cable and phone lines. Multipoint multichannel distribution systems, broadband satellite, and third generation wireless each promise to give rural areas, and even remote areas, affordable access to high-speed data services.

Do different institutional frameworks condition the influence of local fear of failure and entrepreneurial examples over entrepreneurial activity

Abstract: This paper analyses how different institutional frameworks condition the influence of selected social traits: the social stigma to entrepreneurial failure and the presence of entrepreneurial role models, over entrepreneurial activity levels in a rural area with strong industrial and entrepreneurial history versus those that are not necessarily characterized by such a tradition. To attain this objective we undertake a rare events logit model using a robust Spanish dataset from 2003. The main contribution of the study indicates that there is a significant difference between entrepreneurial activity levels in rural Catalonia as compared to rural areas in the rest of Spain. This difference is in large part explained by the distinct impact of the observed social traits, where the presence of entrepreneurial role models is a prominent explanatory factor favouring entrepreneurial activity in rural (Catalonia) areas with strong industrial tradition. The findings of the paper back the growing call for territorial ...

Twenty Years of Rural Entrepreneurship: A Bibliometric Survey

Abstract: Entrepreneurship has become a dynamic field of research in the last two decades. However, ‘rural entrepreneurship’ has been largely overlooked. It seems therefore timely to present a quantitative survey of the literature in this particular area. Based on 181 articles on rural entrepreneurship published in journals indexed in Scopus, we found that rural entrepreneurship is an essentially European concern, whose most prolific authors are affiliated with institutions in the UK and Spain. Organisational characteristics, policy measures and institutional frameworks and governance have attracted considerable attention in recent years, being considered emergent topics of research. In contrast, theory building has not attracted much research over the period in analysis, which suggests that the theoretical body of rural entrepreneurship is still incipient, hindering the establishment of its boundaries and of a suitable research agenda. Empirical literature on rural entrepreneurship has focused mainly on developed countries, most notably, the UK, the USA, Spain, Finland and Greece. Given the potential rural entrepreneurship represents for less developed and underdeveloped countries, more research on the topic targeting these countries is an imperative.

Why some rural places prosper and others do not

Abstract: More than 300 rural counties are more prosperous than the nation. Each has lower unemployment rates, lower poverty rates, lower school dropout rates, and better housing conditions than the nation. Prosperous counties tend to have more educated populations, more diverse economies, more private non-farm jobs, more farmers and government farm payments, more creative class occupations, and more equal income distributions. They have fewer African-American, American Indian, or Hispanic residents and fewer recent immigrants. Some findings support what many rural people believe to be true: civically engaged religious groups and other identities that bind people together can really matter. Other results contradict conventional wisdom. For instance, climate and distances to cities and major airports, are relatively unimportant. Focusing on prosperity, instead of growth or competitiveness, provides new insights into rural conditions and prospects.