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The Role of Entrepreneurial Human Capital As a Driver of Endogenous Economic Growth

Isaac Ehrlich & Dunli Li & Zhiqiang Liu, 2017. "The Role of Entrepreneurial Human Capital As a Driver of Endogenous Economic Growth," Journal of Human Capital, vol 11(3), pages 310-351

Posted: 13 Aug 2018

See all articles by Isaac Ehrlich

Isaac Ehrlich

State University of New York at Buffalo - Department of Economics; National Bureau of Economic Research (NBER); University of Chicago - University of Chicago Press; Institute for the Study of Labor (IZA)

Dunli Li

University College London

Zhiqiang Liu

SUNY at Buffalo, College of Arts & Sciences, Department of Economics

Multiple version iconThere are 3 versions of this paper

Date Written: June 25, 2018

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 firm-specific human capital drives endogenous growth. Our model 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 in EHC rather than exclusively by themselves. We test these implications using data from Global Entrepreneurship Monitor's Adult Population Survey of 63 countries over 2002–2010 and find robust support for these hypotheses.

Keywords: innovation, entrepreneurship, the market for ideas, human capital, endogenous growth

JEL Classification: L26, O31, O43

Suggested Citation

Ehrlich, Isaac and Li, Dunli and Liu, Zhiqiang, The Role of Entrepreneurial Human Capital As a Driver of Endogenous Economic Growth (June 25, 2018). Isaac Ehrlich & Dunli Li & Zhiqiang Liu, 2017. "The Role of Entrepreneurial Human Capital As a Driver of Endogenous Economic Growth," Journal of Human Capital, vol 11(3), pages 310-351, Available at SSRN: https://ssrn.com/abstract=3202420

Isaac Ehrlich (Contact Author)

State University of New York at Buffalo - Department of Economics ( email )

415 Fronczak Hall
Buffalo, NY 14260
United States
716-645 2121 (Phone)
716-645 2127 (Fax)

HOME PAGE: http://arts-sciences.buffalo.edu/economics/faculty/faculty-directory/ehrlich.html

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
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University of Chicago - University of Chicago Press ( email )

1427 E. 60th Street
Chicago, IL 60637
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Institute for the Study of Labor (IZA) ( email )

P.O. Box 7240
Bonn, D-53072
Germany

Dunli Li

University College London ( email )

Gower Street
London, WC1E 6BT
United Kingdom

Zhiqiang Liu

SUNY at Buffalo, College of Arts & Sciences, Department of Economics ( email )

Buffalo, NY 14260
United States

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