Using data on a sample of small Iowa towns consistently collected over two decades, we investigate how agglomeration economies, social capital, human capital, local fiscal policy, and natural amenities affect new firm entry. We find that human capital and agglomeration are more conducive to new firm entry than are natural amenities, local fiscal policy, or social capital. The impact of local fiscal policy is too small to overcome the locational disadvantages from insufficient endowment of human capital and agglomeration. A rural development approach that encourages firm entry in rural towns with the largest endowments of human capital and market agglomeration would be more successful than trying to raise firm entry in every town.

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哪些小镇吸引初创企业？为什么？来自爱荷华州的二十年证据

我们使用 20 多年来持续收集的爱荷华州小城镇样本数据，研究集聚经济、社会资本、人力资本、地方财政政策和自然便利设施如何影响新公司进入。我们发现，人力资本和集聚比自然便利、地方财政政策或社会资本更有利于新公司进入。地方财政政策的影响太小，无法克服人力资本禀赋不足和集聚的区位劣势。鼓励企业进入人力资本和市场集聚最丰富的农村城镇的农村发展方法将比试图提高每个城镇的企业进入更成功。