Municipal budget strategies and local economic growth
分析了336个荷兰市镇的预算数据，发现基础设施和商业环境支出的有效性取决于地方财政与制度能力，不同能力组合通过不同路径促进新企业形成。
Local governments invest heavily in economic development, yet such spending often fails to generate entrepreneurial activity. Analysing 336 Dutch municipalities using fuzzy-set qualitative comparative analysis, this study identifies multiple, size-specific configurations of infrastructure and business-climate spending that are sufficient for higher new firm formation. Effectiveness depends on how spending aligns with local fiscal and institutional capacity, not on any single policy lever. We conceptualise this as a capacity logic of public investment, showing that different capacity regimes enable distinct causal pathways to entrepreneurship. This reframes local development from universal best practices to capacity-contingent policy design.