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                                  發展與公共財政第三次workshop:Serial Entrepreneurship in China




                                    主講人:Loren Brandt

                                    組織人:張曉波 李力行 席天揚 劉怡 張鵬飛 郝煜 劉衝



                                    題目:Serial Entrepreneurship in China


                                    Little is known is about the role of serial entrepreneurs, which we define as individuals who establish more than one firm. In this paper, we draw on the Business Registry of the Ministry of Industry and Commerce in China to examine the role and contribution of serial entrepreneurship (SE). We first document how important quantitatively SEs is in China. We next develop a simple model to analyze the portfolio choice problem of SE that highlights the role of upstream and downstream linkages, and risk diversification. We then examine regional differences in the rate of new firm start-ups and serial entrepreneurship, with an eye to the link with the local business environment. A simple model helps rationalize role of endowments, ability, and features of the local environment in explaining differences between SE and non-SE. Drawing on Brandt, Kamborouv and Storesletten (2018), we measure differences in the local business environment by differences in the capital and output frictions (wedges) and entry wedges. In the cross-section, new firm entry and SE are positively correlated with lower capital wedges and larger subsidies (larger output wedges), and lower barriers to entry. Finally, drawing on supplementary data on firm output, assets, etc. collected by the Ministry of Industry and Commerce, we examine the relative productivity of serial and non-serial firms by the type of local business environment. Our results suggest that the local business environment greatly influences economic development through selection into entrepreneurship and serial entrepreneurship. In environments with fewer constraints on entrepreneurs, we observe both more entrepreneurs, and more of the “good” entrepreneurs establishing additional firms. Both contribute to higher productivity and growth.



                                    Loren Brandt教授於1983年獲得美國伊利諾大學博士學位 。1998年起至今爲多倫多大學經濟系教授 ,是研究中國經濟問題的專家 。同時,他還是德國勞動研究所(IZA)研究員、Explorations in Economic History編委。其學術論文發表於American Economic Review、Journal of Political Economy、Explorations in Economic History、Journal of Economic History、Journal of Population Economics、Journal of Monetary Economics、Journal of Development Economics等 。其中關於中國經濟的學術論文曾被髮表於Journal of International Economics、Economic Journal等國際頂級期刊。 他是《牛津經濟發展史百科全書》(Encyclopedia of Economic History,5冊,牛津大學出版社2003年出版)領域編輯之一。此外 ,他還是《中國經濟大轉型》(China’ s Great Economic Transformation ,2008年出版)一書的聯席主編與主要貢獻者 ,該書對中國過去35年的經濟爆發式增長進行了綜合全面的分析,是一項具有標誌性意義的研究成果。Brandt教授目前的主要研究領域爲中國的產業升級與創新、不平等、長期經濟增長與結構轉變等問題。




                                  • UC彩票

                                  • UC彩票經院人

                                  • 經院校友辦