Does Emigration Drain Entrepreneurs?

Emigration of young, motivated individuals may deprive countries-of-origin of entrepreneurs. We isolate exogenous variation in a large emigration wave from Italy between 2008 and 2015 by interacting diaspora networks with economic pull factors in destination countries, and find that larger emigratio...

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Published in:Policy File 2020
Main Authors: Anelli, Massimo, Basso, Gætano, Ippedico, Giuseppe, Peri, Giovanni
Format: Report
Language:English
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Business
CESifo Group Munich
Immigration
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Basso, Gætano
Ippedico, Giuseppe
Peri, Giovanni
description Emigration of young, motivated individuals may deprive countries-of-origin of entrepreneurs. We isolate exogenous variation in a large emigration wave from Italy between 2008 and 2015 by interacting diaspora networks with economic pull factors in destination countries, and find that larger emigration rates reduced firm creation and innovative start-ups. We estimate that for every 100 emigrants, 26 fewer firms were created. An accounting exercise shows that 37 percent of the effect was due to the disproportionate loss of young people. The remaining effect was due to selection into emigration of highly entrepreneurial individuals, as well as negative spillovers on firm creation.
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CESifo Group Munich
Immigration
title Does Emigration Drain Entrepreneurs?
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