Demographics and Entrepreneurship

• 成果类型: Article
• 署名作者: Liang, James; Wang, Hui; Lazear, Edward P.
• 署名单位: Peking University; Stanford University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/698750
• 发表日期: 2018
• 页码: S140-S196
• 关键词: economic-growth; AGE; intelligence; fluid

摘要

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to entrepreneurship decline with age, but business skills increase with experience in high-level positions. Having too many older workers in society slows entrepreneurship. When older workers occupy key positions, they block younger workers from acquiring skills. A theory is formulated and tested using the Global Entrepreneurship Monitor data. A one standard deviation decrease in a country's median age increases new business formation by 2.5 percentage points, which is about 40 percent of the mean rate. Furthermore, older societies have lower rates of entrepreneurship at every age.