recent research

Because they focus on attracting mature firms through relocation incentives, job creation strategies at the state level are often misguided, according to the Center on Budget and Policy Priorities. Despite this, many metropolitan regions are increasingly focusing their efforts on attracting and retaining the high-growth firms responsible for an oversized share of job growth and economic output.  While considerable research has focused on the important role that startups and high-growth firms play in the national economy, relatively little has been done to apply a regional lens to this phenomenon. New research, tracks high-growth firms over a multiple-year period to assess how their changing operations can inform regional economic development.

The National Science Foundation tells of a record number of doctorates awarded at the same time the American Association of University Professors (AAUP) reports opportunities to secure tenure-track positions continue to shrink, the State Higher Education Executive Officers Association points out state support for higher education remains below Great Recession levels, and AAAS says many federal agency research budgets are only now approaching pre-sequestration levels of 2012.

What leading indicators allow a national, state, regional, or local economy to rebound from an exogenous shock (e.g., economic downturn or natural disaster)?

When General Electric (GE) announced earlier this month that it was moving to downtown Boston’s Seaport District, significant attention was paid to the generous incentive package handed to the company by Massachusetts. Ultimately, however, it was the human capital and innovative talent in the city that lured GE, according to the Chairman and CEO Jeff Immelt’s comments announcing the move. While conventional thinking suggests that attracting new businesses is a path to population and economic growth, new research suggests that this may not be the case. 

In September 2010, the Obama administration launched Challenge.gov– an online portal for federal agencies to engage the public to offer solutions that address issues of national priority in return for monetary and non-monetary prizes. Since its launch in 2010, more than 80 federal agencies have run nearly 500 competitions and awarded upwards of $150 million in prizes. Challenge.gov is one of the most well-known examples of this growing trend in government and foundation funding. In addition to Challenge.gov, U.S. states, local governments, and foundations have announced similar prize competitions to help address important societal and S&T issues.

Around the world, entrepreneurship education continues to permeate schools, nonprofits, economic development organizations, and college campuses. At the root of this momentum is a belief that entrepreneurship can be taught to anybody, regardless of their innate skills. This Recent Research article presents new conclusions that suggest individuals can learn entrepreneurship by being exposed to other entrepreneurs. In other words, both nature and nurture contribute to the likelihood one becomes an entrepreneur.

Bank or venture capital (VC) financing? This is one of the toughest questions that aspiring entrepreneurs and small firms must answer. A recent academic study contends that VC financing may be the superior financing structure for early stage capital. However, several other studies contend that both bank and VC financing can help create and grow successful startups. For potential entrepreneurs, each provides strengths and weaknesses that are highlighted in the studies.

Across the globe, the proliferation of innovation-led economic development is typically viewed in an urban context. Despite cities receiving the bulk of the attention, researchers have begun to focus on how to leverage best practices in rural economic development. Just as is the case in nearly all economic development scenarios, practitioners and policymakers working in rural areas benefit from a better understanding of local strengths and opportunities, according to new research from the United States, Canada, and the European Union.

Although immigrants account for approximately one-fourth of U.S. science and engineering (S&E) employment, there have been relatively few academic studies published that discuss the link between these immigrants, who represent an increasing share of the U.S. workforce, and innovation in the United States. Through a broad investment from the Alfred P. Sloan Foundation, guest editors William Kerr and Sarah Turner curated a special volume of the Journal of Labor Economics to highlight recent research specifically focused on the impacts of high-skilled immigration.

Over the past 40 years, the number of women across the globe filing patents has risen fastest within academia compared to all other sectors of the innovation economy, according to a new study from researchers at Indiana University (IU). The researchers found that the overall percentage of patents with women's names attached rose from an average of 2 percent to 3 percent across all areas in 1976 to 18 percent in 2013 for female academics. In comparison, the overall percentage of patents with women's names attached grew to 10 percent in industry and 12 percent for individuals. The study tracked female patent filers across 185 countries, all of whom filed their patents with the U.S. patent office.