Whereas initially physical capital and later, knowledge capital were viewed as crucial for growth, more recently a very different factor, entrepreneurship capital, has emerged as a driving force of economic growth. In this paper, we define a region's capacity to create new firms start-ups as the...

The prevailing theories of entrepreneurship have typically revolved around the ability of individuals to recognize opportunities and act on them by starting new ventures. This has generated a literature asking why entrepreneurial behavior varies across individuals with different characteristics,...