@techreport{NBERw3252,
 title = "What Makes an Entrepreneur? Evidence on Inheritance and Capital Constraints",
 author = "David Blanchflower and Andrew J. Oswald",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3252",
 year = "1990",
 month = "February",
 URL = "http://www.nber.org/papers/w3252",
 abstract = {The paper studies the factors which shape entrepreneurship among young adults. It finds, using data on a British birth cohort, that the probability of self-employment depends sensitively upon whether the individual ever received a gift or inheritance. Those who were given or  inherited £5,000, for example, were approximately twice as likely, ceteris paribus, to set up in business. This is consistent with, and a new test of, recent results from the US stressing the importance of capital and liquidity constraints. The paper also evaluates a number of hypotheses suggested in the literature on small businesses.},
}