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| 1 |
ID:
130794
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| 2 |
ID:
182798
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| Summary/Abstract |
This paper studies the impact of household-level housing wealth changes on entrepreneurship in urban China. Exploiting the 2011–2015 China Household Finance Survey, we control for lagged proxies for wealth, city-by-year fixed effects, and other household attributes and directly estimate the magnitude of homeowner's response to housing capital gains net of home maintenance and upgrading expenditures. We also instrument for housing wealth changes with structural breaks in city housing price trend. We find that a 10,000 RMB increase in housing wealth increases the propensity of a household becoming a business owner by about 0.7 percentage points in IV estimation. In addition, we provide new evidence for underlying channels that housing capital gains alleviate household credit constraints, reduce risk aversion and increase awareness of financial information.
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| 3 |
ID:
171003
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| Summary/Abstract |
With the rapid development of information technology, the internet has penetrated rural China. In this article I examine the impact of internet usage on rural self-employment and investigate its major channels. Employing a semiparametric bivariate probit model, the research finds that internet usage significantly increases the probability of rural self-employment by 5 to 7 percentage points. Further evidence points to the significant impact of internet usage on male, older, and better educated rural laborers, whereas such an effect on female, younger, and less educated laborers is not remarkable. Channel investigation reveals that internet usage encourages rural self-employment by weakening financial constraints, lessening social capital restrictions, and reducing transaction costs.
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| 4 |
ID:
102782
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