【摘要】Recent literature suggests two mechanisms through which the start-up of new firms contributes to economic development: the growth of start-ups and competition among incum-bent firms induced by the start-ups. While existing studies derive the competition effect indi-rectly, this paper deploys a direct measure, called market mobility, to approximate the inducedcompetition effect. The empirical results are consistent with the idea that both effects areimportant in explaining the long-term economic impact of start-ups. First, the most successfulstart-ups grow to become high-growth firms, and second, the entry of new firms stimulatesincumbent firms to perform better.

【关键词】Sierdjan Koster;Andre van Stel

【文献来源】Sierdjan Koster;Andre van Stel.Papers in Regional Studies.2014（1）