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Lisa Ruhanen and Megan Axelsen

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Edited by Dimitrios Buhalis

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Gianna Moscardo

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David B. Audretsch

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Sarfraz A. Mian, Magnus Klofsten and Wadid Lamine

This chapter introduces the handbook by emphasizing the need for this work, providing an overview of the contributions made, and underscoring the promise of business and technology Incubation and acceleration for entrepreneurial development. It is noted, that 66 well-known scholars and practitioners from around the world have written 29 chapters, which are organized along four themes: (I) Understanding incubation and acceleration (II) Incubation mechanisms and entrepreneurship ecosystem development (III) National and regional incubation policy studies, and (IV) Incubation practice and assessment. The chapter highlights the coverages provided in the volume by featuring various incubation models, with an international scope, and economic as well as social use of business incubation. The authors elaborate that the work deepens our understanding of business incubation and aids policy makers, researchers, and practitioners to handle incubation projects with confidence.

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Sarfraz A. Mian

Chapter 1 articulates definitional challenges, presents evolution of incubator models, use of theoretical lenses, and program evaluation for benchmarking. The author asserts that after 6 decades of use incubation mechanisms have matured, and they continue to be popular policy tools for planned entrepreneurial development, preferably as part of an entrepreneurship ecosystem. Future challenges are identified to include refinement in theory, incubator program sustainability, well-developed benchmarking matrices, use as pedagogy for experiential learning, addressing social equity, and better use of digitization and emerging new technologies. The chapter concludes with a call for further consolidation and refinement of the incubation field through authentic study and reflective practice.

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Ambroise Descamps, Timo Klein and Gareth Shier

In the modern economy, algorithms influence many aspects of our lives, from how much we pay for groceries and what adverts we see, to the decisions taken by health professionals. As is true with all new technologies, algorithms bring new economic opportunities and make our lives easier, but they also bring new challenges. Indeed, many competition authorities have voiced their concerns that under certain circumstances algorithms may harm consumers, lead to exclusion of some competitors and may even enable firms (knowingly or otherwise) to avoid competitive pressure and collude. In this article, we explain how algorithms work and what potential benefits and harms they bring to competition.

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Halvor Mehlum and Ragnar Torvik

For a developed market economy, the COVID-19 crisis is a new type of crisis, but such a crisis has parallels with economies at other times, and with crises in many places. We discuss some mechanisms from the traditional macro literature and from the literature on macroeconomics for developing countries. Phenomena such as bottlenecks, rationing, forced savings, production constrained by access to inputs, liquidity constraints, sector heterogeneity, and costs running despite production being shut down, are all permanent phenomena in developing countries. During the COVID-19 crisis, however, they have also emerged as key mechanisms in developed market economies. We discuss some of these well-developed but partially forgotten mechanisms by extending simple textbook descriptions, and we provide some examples of how the effects of policy are changed in a time of crisis.

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Robert A. Blecker

This article examines the charge that Thirlwall's law is a theoretical tautology. It shows that a certain approach to empirical testing of that law can sometimes – under conditions analysed here – result in econometric estimates that reflect an approximate identity or ‘near-tautology’. Nevertheless, other methods of empirically testing the law are not subject to the near-tautology critique, and hence the theory itself is not a tautology. Econometric estimates for the US and Mexico reveal that the near-tautology critique applies to data for the former but not the latter; the difference in these results is explained by exactly the reasons discussed here. The article offers an alternative interpretation of Thirlwall's law as implying a benchmark for analysing whether national income, rather than relative prices, is the main adjusting factor in response to current-account imbalances in the long run.