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

Isaac Ehrlich, Dunli Li, Zhiqiang Liu

NBER Working Paper No. 23728
Issued in August 2017
NBER Program(s):Development Economics Program, , Industrial Organization Program, Productivity, Innovation, and Entrepreneurship Program

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.

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Document Object Identifier (DOI): 10.3386/w23728

Published: 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. citation courtesy of

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