title: Entrepreneurship, wealth accumulation and borrowing constraints: Foreign research experience
metadata.name: dc.contributor.author
metadata.value: Polbin, Andrey V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Shumilov, Andrey V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2020-12-09T19:44:32Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2020-12-09T19:44:32Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2020-09
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Polbin A. V., Shumilov A. V. 2020. Entrepreneurship, wealth accumulation and borrowing constraints: Foreign research experience. Russian Management Journal 18 (3): 313–334.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu18.2020.302
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/21416
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This paper presents a review of foreign studies analyzing the role of entrepreneurs in the accumulation and distribution of wealth and approaches to modeling entrepreneurship as an integral
  part of the economy for evaluating the consequences of alternative economic policies. According
  to the main results of the empirical literature, entrepreneurs, first, own a substantial share of
  total household wealth, and many of the wealthiest people are entrepreneurs. Second, entrepreneurs have higher saving rates than other households, and, third, entrepreneurs face restrictions
  on borrowing. We survey dynamic general equilibrium models based on stylized facts about the
  behavior of entrepreneurs, where agents can choose the type of activity between entrepreneurship
  and wage labor. Mechanisms of encouraging entrepreneurial savings due to borrowing constraints,
  financial intermediation costs, and uninsured entrepreneurial risk allow calibrated versions of these models to successfully replicate the observed distribution of household wealth. Results of
  counterfactual experiments to evaluate the effects of various types of tax reforms and financial
  shocks in models with entrepreneurs are reviewed. The possibility of constructing a similar
  model for the Russian economy is discussed.
metadata.lang: en_GB
metadata.name: dc.description.sponsorship
metadata.value: The paper is prepared within the state assignment of RANEPA.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Russian Management Journal;Volume 18; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: entrepreneurship
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: borrowing constraints
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: wealth distribution
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: savings behavior
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: occupational choice
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Entrepreneurship, wealth accumulation and borrowing constraints: Foreign research experience
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 313-334.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/21416/1/313-334.pdf
resources.format: Adobe PDF
resources.size: 722,06 kB