Refugee Entrepreneurship: The Case of Venezuelans in Colombia

5 Pages Posted: 20 Jan 2023

See all articles by Dany Bahar

Dany Bahar

Brown University - Watson Institute for International and Public Affairs; Harvard University - Center for International Development (CID)

Bo Cowgill

Columbia University - Columbia Business School

Jorge Guzman

Columbia University - Columbia Business School; NBER

Date Written: January 19, 2023

Abstract

This paper analyzes the entire business registry of Colombia during 2015 to 2022, a period when Colombia received two million Venezuelan immigrants and refugees. We present two main findings. First, firms owned by foreigners, most of them Venezuelans, tend to be 10 to 20 percent more capitalized when founded, as compared to firms owned by locals within the same industry, geographic location, and year of registration. Second, while more intensive in capital, these firms owned by foreigners are just as likely to survive the first 2 and 3 years as firms owned by locals. We discuss implications for these findings.

Keywords: entrepreneurship, venezuela, immigration

JEL Classification: L26

Suggested Citation

Bahar, Dany and Cowgill, Bo and Guzman, Jorge, Refugee Entrepreneurship: The Case of Venezuelans in Colombia (January 19, 2023). Available at SSRN: https://ssrn.com/abstract=4329279 or http://dx.doi.org/10.2139/ssrn.4329279

Dany Bahar

Brown University - Watson Institute for International and Public Affairs ( email )

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Harvard University - Center for International Development (CID)

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Bo Cowgill

Columbia University - Columbia Business School ( email )

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Jorge Guzman (Contact Author)

Columbia University - Columbia Business School ( email )

3022 Broadway
New York, NY 10027
United States

NBER ( email )

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