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100			_aFazio, Catherine _954248
245			_aThe Impact of State-Level Research and Development Tax Credits on the Quantity and Quality of Entrepreneurship/ _cCatherine Fazio
260			_bSage, _c2020.
300			_aVol.34, issue 2, 2020: (188-208p.)
520			_aU.S. states often cite the acceleration of start-up activity as a rationale for the research and development (R&D) tax credit. While a strong empirical base links the R&D tax credit to increased innovation, prior work provides no causal evidence that the credit effects the rate of formation and growth potential of new businesses. This article combines data from the Startup Cartography Project with the Panel Database on Incentives and Taxes to implement a difference-in-differences estimate of the impact of state R&D tax credits on the quantity and quality-adjusted quantity of entrepreneurship. The authors find that the R&D tax credit is associated with a significant long-term impact on both. In contrast, the authors observe that state investment tax credits have no impact on the quantity of entrepreneurship and lead to a marked decline in the rate of formation of growth-oriented start-ups over time. The results indicate the potential of state R&D tax credits to stimulate entrepreneurship.
650			_aResearch and Development _954249
650			_aQuality of Entrepreneurship _954250
650			_aState-Level Research _954251
700			_aGuzman, Jorge _eCo-author _954252
700			_aStern, Scott _eCo-author _954253
773	0		_010589 _916747 _dSage Publisher _tEconomic development quarterly
856			_uhttps://doi.org/10.1177/0891242420920926
942			_2ddc _cART
999			_c13439 _d13439