How does caste affect entrepreneurship? birth versus worth *

• 成果类型: Article
• 署名作者: Goraya, Sampreet Singh
• 署名单位: Stockholm School of Economics
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2023.01.007
• 发表日期: 2023
• 页码: 116-133
• 关键词: Misallocation; Caste system; credit constraints; entrepreneurship

摘要

Informal institutions play an important role in resource allocation across entrepreneurs in developing countries. I focus on the caste system in India and document three stylized facts. First, entrepreneurs of historically disadvantaged castes have a higher average rev-enue product of capital, arpk, relative to high-caste enterprises. Second, cross-caste differ-ences in arpk are driven by small enterprises. Third, the majority of these differences are concentrated in financially underdeveloped regions. In a model of entrepreneurship, I find that the cross-caste differences in arpk are explained by differences in access to credit and that such asymmetries reduce output per capita by 5.6%. (c) 2023 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license ( http://creativecommons.org/licenses/by-nc-nd/4.0/ )