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Regional Research Institute Working Papers
New Firm Formation; Economic Development; Northeast Region; Simultaneous Analysis
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An Analysis Of The Relationship Between New Firm Formation And Economic Development In The Northeast Region Of The United States, Saima Bashir, Tesfa Gebremedhin
An Analysis Of The Relationship Between New Firm Formation And Economic Development In The Northeast Region Of The United States, Saima Bashir, Tesfa Gebremedhin
Regional Research Institute Working Papers
The overall objective of this study is to provide policy makers with information on the role of new firm formation in the economic development in the Northeast region of the United States. This study identifies and estimates the impacts of new firm formation in the economic development of the Northeast region. The empirical model of this study is derived from the three-equation simultaneous model of Deller et al. (2001). In this study, Three-Stage Least Squares (3SLS) method is used to estimate the simultaneous equations model. The research findings indicate that population density and per capita income have a positive link …