{"title":"Human Capital and Entrepreneurship","authors":"N. Qin, Dongmin Kong","doi":"10.1086/716344","DOIUrl":null,"url":null,"abstract":"This study investigates the causal effect of human capital on entrepreneurship. We use China’s higher-education expansion in 1999 as an exogenous shock to conduct difference-in-differences estimation and find that human capital enhances entrepreneurship significantly. Our results are robust to different specifications and measures. We provide supportive evidence based on two alternative natural experiments: China’s university relocation (1952) and the restart of the college entrance exam (1977). Plausible mechanisms that drive our results are resource acquisition, opportunity identification, and decrease in labor cost. We also find that institutional quality, trust, and financing conditions significantly strengthen our findings.","PeriodicalId":46011,"journal":{"name":"Journal of Human Capital","volume":null,"pages":null},"PeriodicalIF":1.6000,"publicationDate":"2021-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"24","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Human Capital","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1086/716344","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 24
Abstract
This study investigates the causal effect of human capital on entrepreneurship. We use China’s higher-education expansion in 1999 as an exogenous shock to conduct difference-in-differences estimation and find that human capital enhances entrepreneurship significantly. Our results are robust to different specifications and measures. We provide supportive evidence based on two alternative natural experiments: China’s university relocation (1952) and the restart of the college entrance exam (1977). Plausible mechanisms that drive our results are resource acquisition, opportunity identification, and decrease in labor cost. We also find that institutional quality, trust, and financing conditions significantly strengthen our findings.
期刊介绍：
Journal of Human Capital is dedicated to human capital and its expanding economic and social roles in the knowledge economy. Developed in response to the central role human capital plays in determining the production, allocation, and distribution of economic resources and in supporting long-term economic growth, JHC is a forum for theoretical and empirical work on human capital—broadly defined to include education, health, entrepreneurship, and intellectual and social capital—and related public policy analyses. JHC encompasses microeconomic, macroeconomic, and international economic perspectives on the theme of human capital. The journal offers a platform for discussion of topics ranging from education, labor, health, and family economics.
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