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Credit Constraints, Job Mobility, and Entrepreneurship: Evidence from a Property Reform in China

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Author Info

  • Shing-Yi Wang

    (New York University)

Abstract

This paper provides new evidence on the impact of private property rights and employer-provided housing on entrepreneurship. I find an increase in self-employment following a reform in urban China that allowed state employees who were renting state-owned housing the opportunity to buy their homes at subsidized prices. I develop a model of job choice to test two mechanisms that might explain how the reform increased entrepreneurship. I find evidence that the reform reduced labor mobility costs and alleviated credit constraints by allowing households to capitalize on the value of the real estate. © 2012 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics and Statistics.

Volume (Year): 94 (2012)
Issue (Month): 2 (May)
Pages: 532-551

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Handle: RePEc:tpr:restat:v:94:y:2012:i:2:p:532-551

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Related research

Keywords: credit constraints; labor mobility; entrepreneurship; China; housing; reform; property rights; privatization;

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Cited by:
  1. Michael Clemens and Erwin Tiongson, 2013. "Split Decisions: Family Finance When a Policy Discontinuity Allocates Overseas Work," Working Papers 324, Center for Global Development.
  2. James E. Rauch, 2013. "Employee Spinouts, Social Networks, and Family Firms," CESifo Working Paper Series 4539, CESifo Group Munich.
  3. Khandker, Shahidur R. & Samad, Hussain A. & Ali, Rubaba, 2013. "Does access to finance matter in microenterprise growth ? evidence from Bangladesh," Policy Research Working Paper Series 6333, The World Bank.
  4. Shing-Yi Wang, 2013. "Property Rights and Intra-Household Bargaining," NBER Working Papers 19427, National Bureau of Economic Research, Inc.
  5. Timothy Besley & Maitreesh Ghatak, 2009. "Property rights and economic development," LSE Research Online Documents on Economics 25428, London School of Economics and Political Science, LSE Library.
  6. Zhang, Junfu & Zhao, Zhong, 2011. "Social-Family Network and Self-Employment: Evidence from Temporary Rural-Urban Migrants in China," IZA Discussion Papers 5446, Institute for the Study of Labor (IZA).
  7. Li, Lixing & Wu, Xiaoyu, 2014. "Housing price and entrepreneurship in China," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 436-449.
  8. Bracke, Philippe & Hilber, Christian & Silva, Olmo, 2013. "Homeownership and Entrepreneurship: The Role of Commitment and Mortgage Debt," IZA Discussion Papers 7417, Institute for the Study of Labor (IZA).
  9. repec:cge:warwcg:05 is not listed on IDEAS
  10. Frijters, Paul & Kong, Tao & Meng, Xin, 2011. "Migrant Entrepreneurs and Credit Constraints under Labour Market Discrimination," IZA Discussion Papers 5967, Institute for the Study of Labor (IZA).

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