Entrepreneurship and Regional Economic Development : A Spatial Econometric Analysis of the Northeast Region of the United States

Increasing uncertainty in the world economy has created challenges for regions to pursue development strategies. Globalization and the advent of new technologies led to approaches from traditional industrial recruiting to less traditional approaches. Among these latter approaches is the increased importance of entrepreneurship for creating economic growth through self-employment or new firm formation. The analysis integrates regional growth theory and spatial econometric modeling to develop recommendations for entrepreneurial development strategies. A unique aspect of this book is that it identifies the spatial effects of entrepreneurial factors and other local characteristics on growth in population, employment, and per capita income. The study explores the contributions of entrepreneurship to the local economy and develops a map for designing specific development policies for a region such as the Northeast Region of the United States. Its rich insights make the book a useful resource and standard reference for students, researchers, development scholars, consultants, and policy analysts. This book can also serve as an important educational resource for schools and libraries.