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Who creates jobs in transition economies? The role of entrepreneurial risk preferences

Muzaffarjon Ahunov, Dilnavoz Abdurazzakova and Nurmukhammad Yusupov

Economics Bulletin, 2019, vol. 39, issue 3, 1876-1886

Abstract: Entrepreneurs create jobs, but hiring outsiders is a risky decision. In this paper, using a large cross-country survey data, we find that more risk-tolerant entrepreneurs indeed tend to hire outside labor. However, the relationship between risk tolerance and likelihood of hiring appears to be non-monotonic in transition economies. We offer both demand and supply side explanations for this result, which has important policy implications.

Keywords: entrepreneurs; risk preferences; demand for labor; hiring (search for similar items in EconPapers)
JEL-codes: J2 L2 (search for similar items in EconPapers)
Date: 2019-08-20
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