Entrepreneurship in the United States
AbstractIn this paper I examine changes in self-employment that have occurred since the early 1980s in the United States. It is a companion paper to a recent equivalent paper relating to the UK. Data on random samples of twenty million US workers are examined taken from the Basic Monthly files of the CPS (BMCPS), the 2000 Census and the 2005 American Community Survey (ACS). In contrast to the official definition of self-employment which simply counts the numbers of unincorporated self-employed, we also include the incorporated self-employed who are paid wages and salaries. The paper presents evidence on trends in self-employment for the US as a whole as well as in construction. Construction is particularly important given that it accounts for a fifth of all self-employment and self-employment rates are roughly double the national rates. It is also important given the existence of public sector procurement programs that primarily exist in construction that have the intended purpose of assisting firms owned by women and minorities. I document the fact that self-employment rates of white women and minorities in comparison to those of white males have increased in construction and elsewhere as have self-employment earnings. Despite this substantial disparities remain. I also find evidence of discrimination in the small business credit market. Firms owned by minorities in general and blacks in particular are much more likely to have their loans denied and pay higher interest than is the case for white males.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3130.
Length: 34 pages
Date of creation: Oct 2007
Date of revision:
Publication status: published in: Annals of Finance, 2009, 5 (3-4), 361-396
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Find related papers by JEL classification:
- J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, and Immigrants; Non-labor Discrimination
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-24 (All new papers)
- NEP-BEC-2007-11-24 (Business Economics)
- NEP-ENT-2007-11-24 (Entrepreneurship)
- NEP-LAB-2007-11-24 (Labour Economics)
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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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:CitEc Project, subscribe to its RSS feed for this item.
- Michael Fortunato & Diane McLaughlin & Theodore Alter, 2011. "The Individual-Institutional-Opportunity Nexus in Entrepreneurship: Bridging Perspectives in Entrepreneurship and Local Economic Development," ERSA conference papers ersa10p1504, European Regional Science Association.
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