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The role of entrepreneurial human capital as a driver of endogenous economic growth

Ehrlich, I; Li, D; Liu, Z; (2017) The role of entrepreneurial human capital as a driver of endogenous economic growth. Journal of Human Capital , 11 (3) pp. 310-351. 10.1086/693718. Green open access

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Abstract

We model investment in entrepreneurial human capital (EHC)-the representative enterprise’s share of production capacity allocated to investment in innovative industrial and commercial knowledge-as a distinct channel through which firmspecific human capital drives endogenous growth. Ourmodel suggests that institutional factors supporting free markets for goods and ideas and higher-educational attainments of entrepreneurs and workers enhance endogenous economic growth by augmenting the efficiency of investment inEHCrather than exclusively by themselves. We test these implications, using data from Global Entrepreneurship Monitor’s Adult Population Survey of 63 countries over 2002-10, and find robust support for these hypotheses.

Type: Article
Title: The role of entrepreneurial human capital as a driver of endogenous economic growth
Open access status: An open access version is available from UCL Discovery
DOI: 10.1086/693718
Publisher version: http://doi.org/10.1086/693718
Language: English
Additional information: © 2017 by The University of Chicago. All rights reserved. This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/1571777
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