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The Entrepreneurial State
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The Entrepreneurial State as mentioned in this paper argues that successful economies result from government doing more than just creating the right conditions for growth, instead, government has a key role to play in developing new technologies whose potential is not yet understood by the business community.Abstract:
The prevailing opinion on public spending is that the state must be cut back to make room for entrepreneurship and innovation, to prevent the public sector ‘crowding out’ the private sector. This draws on the belief that the private sector is dynamic, innovative and competitive, in contrast to the sluggish and bureaucratic public sector.
The Entrepreneurial State challenges this minimalist view of economic policy. It finds that successful economies result from government doing more than just creating the right conditions for growth. Instead, government has a key role to play in developing new technologies whose potential is not yet understood by the business community. State-funded organisations can be nimble and innovative, transforming economies forever — the algorithm behind Google was funded by a public sector National Science Foundation grant.
This pamphlet forces the debate to go beyond the role of the state in stimulating demand, or crudely ‘picking winners’ in industrial policy. Instead, it argues for a proactive, entrepreneurial state: a state that is able to take risks and harness the best of the private sector. It imagines the state as a catalyst, sparking the initial reaction that will cause innovation to spread.read more
Citations
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Financing Renewable Energy: Who is Financing What and Why it Matters
TL;DR: In this paper, the authors analyze the asset portfolios of different renewable energy technologies financed by different financial actors according to their size, skew and level of risk, and construct a heuristic index of risk that varies with the technology, time, and country of investment.
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Muppets and gazelles: Political and methodological biases in entrepreneurship research
Paul Nightingale,Alex Coad +1 more
TL;DR: In this article, the authors argue that despite an almost universally accepted belief outside academia that entrepreneurial activity is a positive driving force in the economy, the accumulated evidence remains largely inconclusive.
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New Varieties of State Capitalism: Strategic and Governance Implications
TL;DR: In this paper, the authors analyze the new varieties of state capitalism in the 21st century and explore their implications in terms of both strategic and governance outcomes, and discuss how the current theoretical perspectives conceptualize state-owned enterprises' strategic behavior.
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Demand-side vs. supply-side technology policies: Hidden treatment and new empirical evidence on the policy mix
TL;DR: In this article, the authors provide new empirical evidence about the impact of various technological policies upon firms' innovative behavior. But, they focus on the role of policies for innovative activities and focus on their interaction, and do not address the issue of possible interaction among the various tools.
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Leviathan as a Minority Shareholder: Firm-Level Implications of State Equity Purchases
TL;DR: In this paper, the authors examined the effect of minority state ownership on firms' returns on assets and on the capital expenditures of financially constrained firms with investment opportunities, finding that minority stakes are less affected by the "agency distortions" commonly found for full-fledged state ownership.
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