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Title: Local Labor Market Endowments, New Business Characteristics, and Performance

Citation Type: Miscellaneous

Publication Year: 2009

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Abstract: It is often asserted that a highly educated workforce is vital to improving the competitive position of American businesses, especially by boosting entrepreneurship. To examine this contention, we use population Census data and a rich, new, nationally representative panel of startup firms, to examine how the education and skill level of the local labor force are related to the creation and success of new businesses. We find that areas that possess more skilled labor also possess higher rates of self-employment and more skilled entrepreneurs. As in previous studies, we find that education of the business owner is strongly linked to improved business outcomes. Potentially consistent with the popular view, we also find that, conditional on owner's education, higher education levels in the local market are positively correlated with improvedbusiness outcomes.

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Authors: Doms, Mark; Robb, Alicia; Lewis, Ethan

Publisher: National Bureau for Economic Research

Data Collections: IPUMS USA

Topics: Labor Force and Occupational Structure, Other

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