Economic dynamism is the rate and direction of change in an economy.[1] This can include activities like the rate of new business formation, the frequency of labor market turnover, and the geographic mobility of the workforce.[1] Economists disagree on the usefulness of the term, with some calling it too ambiguous, and with others calling it useful to understand the degree of churn in the economy.[2] Proponents of the term note that it can describe an economy's ability to adapt to changing circumstances, such as changing consumer demands or the availability of resources.[2] Some experts correlate economic dynamism with the rate of business start-ups.[3] Rates of consumers changing banking or telecommunications service providers, especially as limited by switching barriers, have been cited as a major influence on economic dynamism.[4][5]
References
edit- ^ a b "Index of State Dynamism". Economic Innovation Group.
- ^ a b Bourne, Ryan (August 19, 2022). "Round up: Can We Define Economic Dynamism?". Cato.org. Retrieved April 14, 2023.
- ^ Decker, Ryan; Haltiwanger, John; Jarmin, Ron; Miranda, Javier (September 14, 2014). "The Role of Entrepreneurship in US Job Creation and Economic Dynamism". Journal of Economic Perspectives. 28 (3): 3–24. doi:10.1257/jep.28.3.3 – via www.aeaweb.org.
- ^ Wheeler, T.; Verveer, P.; Kimmelman, G. (August 2020). "New Digital Realities; New Oversight Solutions in the U.S.: The Case for a Digital Platform Agency and a New Approach to Regulatory Oversight" (PDF). Shorenstein Center on Media, Politics and Public Policy. Harvard Kennedy School.
- ^ "FACT SHEET: President Biden Highlights New Progress on His Competition Agenda" (Press release). The White House. 1 February 2023. Retrieved 27 June 2023.
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