Skilled Human Capital and High-Growth Entrepreneurship: Evidence from Inventor Inflows

29 Pages Posted: 4 Aug 2020 Last revised: 6 Jun 2021

See all articles by Benjamin Balsmeier

Benjamin Balsmeier

affiliation not provided to SSRN

Lee Fleming

Harvard University - Technology & Operations Management Unit

Matt Marx

Boston University - Questrom School of Business

S. Ryan Shin

Seoul National University

Date Written: July 2020

Abstract

To what extent does high-growth entrepreneurship depend on skilled human capital? We estimate the impact of the inflow of inventors into a region on the founding of high-growth firms, instrumenting mobility with the county-level share of millions of inventor surnames in the 1940 U.S. Census. Inventor immigration increases county-level high-growth entrepreneurship; estimates range from 29-55 immigrating inventors for each new high-growth firm, depending on the region and model. We also find a smaller but significant negative effect of inventor arrival on entrepreneurship in nearby counties.

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Suggested Citation

Balsmeier, Benjamin and Fleming, Lee and Marx, Matt and Shin, S. Ryan, Skilled Human Capital and High-Growth Entrepreneurship: Evidence from Inventor Inflows (July 2020). NBER Working Paper No. w27605, Available at SSRN: https://ssrn.com/abstract=3665876

Benjamin Balsmeier (Contact Author)

affiliation not provided to SSRN

Lee Fleming

Harvard University - Technology & Operations Management Unit ( email )

Boston, MA 02163
United States
617 495 6613 (Phone)
617 496 5265 (Fax)

Matt Marx

Boston University - Questrom School of Business ( email )

595 Commonwealth Ave
Boston, MA 02466
United States

S. Ryan Shin

Seoul National University

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