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• Working Paper | HBS Working Paper Series | 2018

  Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012

  Sari Pekkala Kerr and William R. Kerr

  We study immigrant entrepreneurship and firm ownership in 2007 and 2012 using the Survey of Business Owners (SBO). The survival and growth of immigrant-owned businesses over time relative to native-founded companies is evaluated by linking the 2007 SBO to the Longitudinal Business Database (LBD). We quantify the dependency of the United States as a whole, as well as individual states, on the contributions of immigrant entrepreneurs in terms of firm formation and job creation. We describe differences in the types of businesses started by immigrants and the quality of jobs created by their firms. First-generation immigrants create about 25% of new firms in the United States, but this share exceeds 40% in some states. In addition, Asian and Hispanic second-generation immigrants start about 6% of new firms. Immigrant-owned firms, on average, create fewer jobs than native-owned firms, but much of this is explained by the industry and geographic location of the firms. Immigrant-owned firms pay comparable wages, conditional on firm traits, to native-owned firms, but are less likely to offer benefits.

  Keywords: entrepreneurship; immigration; job creation; employee benefits; owner demographics; Exports; outsourcing; Entrepreneurship; Ownership; Demographics; Jobs and Positions; Compensation and Benefits; United States;

  Citation:

  Kerr, Sari Pekkala, and William R. Kerr. "Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012." Harvard Business School Working Paper, No. 18-098, April 2018.  View Details

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• Case | HBS Case Collection | December 2017 (Revised March 2018)

  Globalization Past, 1850–1914 (A)

  Sophus A. Reinert and Federica Gabrieli

  On the evening of 3 August 1914, British Foreign Secretary Lord Edward Grey contemplated whether to advise King and Parliament to declare war on Germany in the wake of the country’s invasion of Belgium or to stay out of what quickly was becoming a world war triggered by a royal assassination in Sarajevo. Over the past century, the world had become woven together in ways never before seen, and a truly global economy had emerged that many believed would forever banish the possibility of war altogether. But could trade really assure perpetual peace, and what ultimately mattered most: interest or principles? The case considers the lessons to be had from the rise and fall of the last great period of globalization.

  Keywords: The World; The Rise and Fall of Globalization; World War; Globalization; War; Economics; Trade; Business Cycles; Economic Growth; Economic Slowdown and Stagnation; Society; History; Values and Beliefs; Macroeconomics;

  Citation:

  Reinert, Sophus A., and Federica Gabrieli. "Globalization Past, 1850–1914 (A)." Harvard Business School Case 718-023, December 2017. (Revised March 2018.)  View Details

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• Chapter | The New Oxford Handbook of Economic Geography | 2018

  The Logic of Agglomeration

  Gilles Duranton and William R. Kerr

  This review discusses frontier topics in economic geography as they relate to firms and agglomeration economies. We focus on areas where empirical research is scarce but possible. We first outline a conceptual framework for city formation that allows us to contemplate what empiricists might study when using firm-level data to compare the functioning of cities and industries with each other. We then examine a second model of the internal structure of a cluster to examine possibilities with firm-level data for better exposing the internal operations of clusters. An overwhelming theme of our review is the vast scope for enhancements of our picture of agglomeration with the new data that are emerging.

  Keywords: agglomeration; clusters; innovation; cities; Industry Clusters; City; Innovation and Invention;

  Citation:

  Duranton, Gilles, and William R. Kerr. "The Logic of Agglomeration." In The New Oxford Handbook of Economic Geography, edited by Gordon Clark, Maryann Feldman, Meric Gertler, and Dariusz Wojcik, 347–365. Oxford: Oxford University Press, 2018.  View Details

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