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Wealth Distribution and Self-Employment in a Developing Economy

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Author Info
Mesnard, Alice
Ravallion, Martin

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Abstract

The extent of entrepreneurial activity in an economy with poorly developed capital markets depends on the distribution of wealth, though in potentially complex ways. A non-parametric model of the wealth effect on self-employment is estimated using micro data on the occupational choices of return migrants in Tunisia. Controls for heterogeneity are included, and tests are made for selection bias and separability between wealth and the controls. There is no sign of increasing returns at low wealth, suggesting generally low start-up costs in this setting. The aggregate self-employment rate is an increasing function of aggregate wealth, but a decreasing function of wealth inequality, though even substantial redistributions of wealth would have only a small impact.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3026.

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Date of creation: Oct 2001
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Handle: RePEc:cpr:ceprdp:3026

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Related research
Keywords: borrowing constraints; migration; self-employment; wealth inequality;

Find related papers by JEL classification:
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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  6. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June. [Downloadable!] (restricted)
  7. Levy, Brian, 1993. "Obstacles to Developing Indigenous Small and Medium Enterprises: An Empirical Assessment," World Bank Economic Review, Oxford University Press, vol. 7(1), pages 65-83, January.
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  11. Kanbur, S M, 1979. "Impatience, Information and Risk Taking in a General Equilibrium Model of Occupational Choice," Review of Economic Studies, Blackwell Publishing, vol. 46(4), pages 707-18, October. [Downloadable!] (restricted)
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  13. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 282-305, April. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Docquier, Frederic & Rapoport, Hillel, 2004. "Skilled migration: the perspective of developing countries," Policy Research Working Paper Series 3382, The World Bank. [Downloadable!]
    Other versions:
  2. Frederic, DOCQUIER & Hillel, RAPOPORT & I-Leng Shen, 2007. "Remittances and inequality : A dynamic migration model," Discussion Papers (ECON - Département des Sciences Economiques) 2007003, Université catholique de Louvain, Département des Sciences Economiques. [Downloadable!]
    Other versions:
  3. João Pedro W. de Azevedo, 2004. "Entrepreneurship And Liquidity Constraints In Deprived Areas: Evidence From The Slums Of Rio De Janeiro," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] 135, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]. [Downloadable!]
  4. Docquier, Frederic & Marfouk, Abdeslam, 2004. "Measuring the international mobility of skilled workers (1990-2000) : release 1.0," Policy Research Working Paper Series 3381, The World Bank. [Downloadable!]
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