Middle-Class Entrepreneurs and Inadequate Prospects for Social Mobility through Entrepreneurship in Colombia

Marcela Meléndez and Paula Mejia

Latin American Journal of Economics-formerly Cuadernos de Economía, 2014, vol. 51, issue 2, 279-305

Abstract: This paper explores whether Colombia's middle class is a cradle of entrepreneurship that drives innovation and business growth and fosters social mobility. Microeconomic data are used to characterize entrepreneurs by income group and business characteristics. While entrepreneurs appear to enjoy more income mobility than the average worker, it is not clear whether this is true for middle-class entrepreneurs in particular or if it is a result of entrepreneurship. Nor is there evidence that middle-class entrepreneurs' activity boosts economic growth. Instead, the findings suggest that businesses run by these entrepreneurs are characterized by low productivity.

Keywords: Middle class; social mobility; entrepreneurship; survey data; Colombia (search for similar items in EconPapers)
JEL-codes: I31 L26 O12 (search for similar items in EconPapers)
Date: 2014
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