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2013
- ISIDORE Id: 10670/1.4861be...
- hal: hal-01629743
- doi: 10.1093/restud/rds031
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info:eu-repo/semantics/altIdentifier/doi/10.1093/restud/rds031
info:eu-repo/semantics/OpenAccess
Mots-clés
entrepreneurship liquidity insurance Financial constraints O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance G - Financial Economics/G.G2 - Financial Institutions and Services/G.G2.G20 - General L - Industrial Organization/L.L2 - Firm Objectives, Organization, and Behavior/L.L2.L26 - EntrepreneurshipSujets proches
Entrepreneur IntrapreneurCiter ce document
Milo Bianchi et al., « Liquidity, Risk, and Occupational Choices », HAL SHS (Sciences de l’Homme et de la Société), ID : 10.1093/restud/rds031
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Résumé
We explore which financial constraints matter the most in the choice of becoming an entrepreneur. We consider a randomly assigned welfare program in rural Mexico and show that cash transfers signi cantly increase entry into entrepreneurship. We then exploit the cross-household variation in the timing of these transfers and find that current occupational choices are significantly more responsive to the transfers expected for the future than to those currently received. Guided by a simple occupational choice model, we argue that the program has promoted entrepreneurship by enhancing the willingness to bear risk as opposed to simply relaxing current liquidity constraints.
