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The shale revolution and entrepreneurship: An assessment of the relationship between energy sector expansion and small business entrepreneurship in US counties

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  • Tsvetkova, Alexandra
  • Partridge, Mark

Abstract

The shale revolution led to a sharp increase in the US oil and gas production. Although the long-term consequences of this process are yet to be assessed, existing evidence points to both positive and negative effects. The shale revolution has increased employment and income in resource-rich communities, but also contributed to pollution, higher crime rates and lower educational attainment. The job-creating effects, however, may conceal differing impacts on paid employment and self-employment, where crowding out the latter is in line with one mechanism of the resource curse hypotheses. In this paper, we examine the previously undocumented impact of energy sector expansion on small business entrepreneurship. Using SUR and IV approaches and a differencing strategy, we estimate the effects of growth in oil and gas extraction industry on self-employment growth in metropolitan and rural US counties during the 2001–2013 period. The results suggest that after three years, oil and gas sector expansion appears to crowd out self-employment elsewhere in the economy, or, at the very least, has few net positive self-employment spillovers. This pattern may lead to a resource curse.

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  • Tsvetkova, Alexandra & Partridge, Mark, 2017. "The shale revolution and entrepreneurship: An assessment of the relationship between energy sector expansion and small business entrepreneurship in US counties," Energy, Elsevier, vol. 141(C), pages 423-434.
  • Handle: RePEc:eee:energy:v:141:y:2017:i:c:p:423-434
    DOI: 10.1016/j.energy.2017.09.101
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    Cited by:

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    3. Yao, Xin & Li, Xiyan, 2023. "Dark side of resource dependence: Inadequate entrepreneurship," Resources Policy, Elsevier, vol. 85(PA).
    4. Mark Partridge & Alexandra Tsvetkova & Michael Betz, 2021. "Are the most productive regions necessarily the most successful? Local effects of productivity growth on employment and earnings," Journal of Regional Science, Wiley Blackwell, vol. 61(1), pages 30-61, January.
    5. Mark Partridge & Shawn M. Rohlin & Amanda L. Weinstein, 0. "Firm formation and survival in the shale boom," Small Business Economics, Springer, vol. 0, pages 1-22.
    6. Solarin, Sakiru Adebola, 2020. "The effects of shale oil production, capital and labour on economic growth in the United States: A maximum likelihood analysis of the resource curse hypothesis," Resources Policy, Elsevier, vol. 68(C).
    7. Ju, Yang & He, Jian & Chang, Elliot & Zheng, Liange, 2019. "Quantification of CH4 adsorption capacity in kerogen-rich reservoir shales: An experimental investigation and molecular dynamic simulation," Energy, Elsevier, vol. 170(C), pages 411-422.
    8. Unel, Bulent & Upton, Gregory B., 2023. "Oil & gas induced economic fluctuations and self-employment," Labour Economics, Elsevier, vol. 82(C).
    9. Alexandra Tsvetkova & Tessa Conroy & Jean-Claude Thill, 2020. "Surviving in a high-tech manufacturing industry: the role of innovative environment and proximity to metropolitan industrial portfolio," International Entrepreneurship and Management Journal, Springer, vol. 16(2), pages 501-527, June.
    10. Mark Partridge & Shawn M. Rohlin & Amanda L. Weinstein, 2020. "Firm formation and survival in the shale boom," Small Business Economics, Springer, vol. 55(4), pages 975-996, December.
    11. Ryan A. Decker & Meagan McCollum & Gregory B. Upton, Jr., 2020. "Boom Town Business Dynamics," Finance and Economics Discussion Series 2020-081, Board of Governors of the Federal Reserve System (U.S.).
    12. Gittings, R. Kaj & Roach, Travis, 2020. "Who Benefits from a Resource Boom? Evidence from the Marcellus and Utica Shale Plays," Energy Economics, Elsevier, vol. 87(C).
    13. Onur Sapci, 2022. "The Impact of Shale Energy on Population Dynamics, Labor Migration, and Employment," Energies, MDPI, vol. 15(22), pages 1-17, November.

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    More about this item

    Keywords

    Shale revolution; Entrepreneurship; Self-employment; Employment growth; Employment multipliers;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics

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