Midwest labor, product and capital markets are atypically thin compared to markets on the east and west coasts. Agglomerations of customers, suppliers, and educated workers have been used to explain the century-long shift of population from rural to urban areas, the increasing concentration of patenting and entrepreneurship in cities, and the higher wages for urban than rural workers. As a result, studies of entrepreneurship, innovation, and economic growth have focused most on the experiences in cities. Nevertheless, 29% of the Midwest population lives in nonmetropolitan areas compared to 15% for the nation as a whole, and so it is important to understand how thin markets function in a world where agglomeration economies are increasingly important, and how policy choices can enhance or diminish economic outcomes.
This ISU Agricultural Entrepreneurship Initiative program encourages and supports research on a range of topics, including:
- Entrepreneurship in thin Midwestern markets
- Entrepreneurial finance, with an emphasis on the examination of the supply of and demand for venture capital in thin Midwestern markets
- Education policy, growth, and returns, with an emphasis on identifying how Midwest states can attract and retain critical human capital in thin markets, and on how government policies enhance or restrict returns to human capital
- Analyzing the roles of government tax, expenditure, and regulatory policies on entrepreneurship and economic growth
- Developing and applying the Border Index
Peter F. Orazem
Orazem's fields of concentration are labor economics, applied econometrics, human capital, agricultural economics, and markets in transition economies.
Artz has an active research program in the area of agricultural business and rural economic development and teaches undergraduate courses in farm business management and micro-economic theory.
Kimle’s work includes development and delivery of entrepreneurship curriculum and programs in the College of Agriculture and Life Sciences, outreach programs to aspiring entrepreneurs and agribusiness executives, and research on entrepreneurship and innovation.
Rosenbloom’s research focuses on the development of the U.S. economy and the economics of science, technology and innovation. He has published on the role of innovation in regional economic development and explored a variety of topics related to labor market mobility and agglomeration economies.
- Border Index