Why so many local entrepreneurs?

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dc.contributor.author MICHELACCI, Claudio
dc.contributor.author SILVA, Olmo
dc.date.accessioned 2011-05-23T13:40:17Z
dc.date.available 2011-05-23T13:40:17Z
dc.date.issued 2007
dc.identifier.citation Review of economics and statistics, 2007, LXXXIX, 4, 615-633
dc.identifier.issn 0034-6535
dc.identifier.uri http://hdl.handle.net/1814/17406
dc.description.abstract We document that the fraction of entrepreneurs working in the region where they were born is significantly higher than the corresponding fraction for dependent workers. This is more pronounced in more developed regions and positively related to the degree of local financial development. Firms created by locals are bigger, operate with more capital-intensive technologies, and obtain greater financing per unit of capital invested, than firms created by nonlocals. This suggests that there are so many local entrepreneurs because locals can better exploit the financial opportunities available in the region where they were born. This helps to explain how local financial development causes persistent disparities in entrepreneurial activity, technology, and income.
dc.language.iso en
dc.subject Business economics
dc.subject Regional economics
dc.subject Economic activity
dc.subject Entrepreneurship
dc.subject Location of enterprises
dc.subject Capital structure
dc.subject U.S.A.
dc.subject Italy
dc.title Why so many local entrepreneurs?
dc.type Article
dc.neeo.contributor MICHELACCI|Claudio|aut|
dc.neeo.contributor SILVA|Olmo|aut|
dc.identifier.volume LXXXIX
dc.identifier.startpage 615
dc.identifier.endpage 633
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dc.identifier.issue 4

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