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Contents
Who Are the Innovators? 51 Innovation and Firm Performance 52 Notes 55 Reference 55 Chapter 5
How Can Government Policies Stimulate Entrepreneurship? 57 Introduction 57 Simplifying the Tax System 59 Increasing Government Efficiency and Transparency 59 59 Increasing Access to Finance Developing Skills 64 Increasing Industry-Research Collaboration 68 Facilitating Firm Restructuring and Exit 72 Raising Awareness 74 Notes 75 References 76
Appendix A
Latent Entrepreneurship
77
Appendix B
Classification of Exports by Product and Technology
79
Appendix C
Data Sources and Regression Results of New Entrepreneurship Survey
81
Appendix D Regression Results of Enterprise Survey
87
Boxes 2.1 3.1 3.2 3.3
5.1 5.2
5.3 5.4 C.1 C.2
Armenia’s Information and Communication Technology Sector Case Study: 365 Wines—An Economist Turns Wine Producer Case Study: Akvatekhavtomatika CJSC—Fish-Breeding in a Landlocked Economy Case Study: Instigate CJSC—A Successful Information Technology Firm Now Facing Increasing Competition for Scarce Skills Role of Diaspora in Establishing Venture Capital Case Study: Synopsys CJSC Armenia—A Foreign Investor Playing a Pivotal Role in Armenia’s Information Technology Sector Startups Supported by the Microsoft Innovation Center Case Study: The Republic of Korea—Korea Institute of Startup and Entrepreneurship Development Specification of Ordinary Least Squares Regression Specification of the Probit Regression
19 30 33
38 62
65 69 70 82 83
Fostering Entrepreneurship in Armenia • http://dx.doi.org/10.1596/978-1-4648-0064-1