Monitor Adult Population Survey Research Articles

Job growth expectations among young entrepreneurs in Caribbean small-island states

This paper examines job growth expectations of young entrepreneurs in two small-island Caribbean states, Jamaica and Trinidad and Tobago, using data from the 2013 Global Entrepreneurship Monitor's Adult Population Survey. Results from regression analyses reveal that job growth expectations of young Jamaican entrepreneurs were lower compared to their counterparts in Trinidad and Tobago. Young male entrepreneurs are more likely to increase job growth compared to young female entrepreneurs in both islands. Moreover, the analysis indicated a positive relationship between educational levels of young entrepreneurs and projected job growth in both countries. However, the benefits of education were different in these countries: if the level of education is increased by the same degree in both countries, job growth is expected to be relatively higher in Jamaica versus Trinidad and Tobago.

The Role of Entrepreneurial Human Capital as a Driver of Endogenous Economic Growth

We model investment in entrepreneurial human capital (EHC) – the representative enterprise's share of production capacity allocated to investment in innovative industrial and commercial knowledge – as a distinct channel through which firm-specific human capital drives endogenous growth. Our model suggests that institutional factors supporting free markets for goods and ideas, and higher educational attainments of entrepreneurs and workers, enhance endogenous economic growth by augmenting the efficiency of investment in EHC rather than exclusively by themselves. We test these implications using data from Global Entrepreneurship Monitor's Adult Population Survey of 63 countries over 2002–2010 and find robust support for these hypotheses.