The culture of entrepreneurship

• 成果类型: Article
• 署名作者: Chakraborty, Shankha; Thompson, Jon C.; Yehoue, Etienne B.
• 署名单位: University of Oregon; Willamette University; International Monetary Fund
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2015.12.007
• 发表日期: 2016
• 页码: 288-317
• 关键词: Entrepreneurship; culture; human capital; colonization; GROWTH

摘要

We study the cultural process through which a society inculcates an entrepreneurial spirit. People work for a guaranteed wage or operate a firm whose risky return depends on business expertise. The latter is culturally acquired, within the family or outside, and people may choose an occupation different from the one they were socialized into. A cultural bias towards safer occupations from colonial and post-colonial policies leads to stagnation where entrepreneurs do not upgrade technology because of their proficiency with existing methods. An aggregate productivity shock can tip this economy towards growth led by established businesses. A human capital shock where existing business expertise is less useful is more disruptive; growth occurs through the emergence of a new class of entrepreneurs. We conclude that culture is not destiny: it adapts even when some cultural traits do not. (C) 2016 Published by Elsevier Inc.