Credit Constraints, Job Mobility, and Entrepreneurship: Evidence From a Property Reform in China
نویسنده
چکیده
This paper provides new evidence on the impact of private property rights and employer-provided housing on entrepreneurship. I find an increase in self-employment following a reform in urban China that allowed state employees who were renting state-owned housing the opportunity to buy their homes at subsidized prices. I develop a model of job choice to test two mechanisms that might explain how the reform increased entrepreneurship. I find evidence that the reform reduced labor mobility costs and alleviated credit constraints by allowing households to capitalize on the value of the real estate. Disciplines Public Affairs, Public Policy and Public Administration | Real Estate This working paper is available at ScholarlyCommons: http://repository.upenn.edu/bepp_papers/139 CREDIT CONSTRAINTS, JOB MOBILITY, AND ENTREPRENEURSHIP: EVIDENCE FROM A PROPERTY REFORM IN CHINA
منابع مشابه
Credit Constraints, Job Mobility and Entrepreneurship: Evidence from a Property Reform in China∗ Job Market Paper
In 1994, the Chinese government began a program that offered state employees living in state-owned housing the opportunity to buy their homes at subsidized prices. This paper analyzes the impact of housing policy and the creation of private property on individuals’ labor market decisions with a focus on entrepreneurship. Using the reform as an exogenous change in the mobility costs and credit c...
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