Corpus ID: 204784201

The Great Depression , Business Dynamism , and the Resilience of Innovation

@inproceedings{Bernstein2019TheGD,
  title={The Great Depression , Business Dynamism , and the Resilience of Innovation},
  author={A. Bernstein and Filippo Mezzanotti},
  year={2019}
}
The effects of severe economic distress driven by financial crises on innovation and subsequent business dynamism is an unsettled and important question for economic growth, but one difficult to answer with modern data. Using a differences-in-differences design surrounding the biggest financial crisis of the past century–the Great Depression-–we are able to obtain plausible variation in local shocks to innovative ecosystems, cleanly identify technological entrepreneurs, and examine the long-run… CONTINUE READING

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