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1、EntrepreneurshipSelectionandPerformance:AMeta-AnalysisoftheImpactofEducationinDevelopingEconomiesJustinvanderSluis,MirjamvanPraag,andWimVijverbergThismeta-analyticalreviewofempiricalstudiesoftheimpactofschoolingonentre-preneurshipselectionandperformanceindevelopingeconomieslooksatvariati
2、onsinimpactacrossspecificcharacteristicsofthestudies.Amarginalyearofschoolingindevelopingeconomiesraisesenterpriseincomebyanaverageof5.5percent,whichisclosetotheaveragereturninindustrialcountries.Thereturnvaries,however,bygender,ruralorurbanresidence,andtheshareofagricultureintheeconomy.
3、Further-more,moreeducatedworkerstypicallyendupinwageemploymentandprefernon-farmentrepreneurshiptofarming.Theeducationeffectthatseparatesworkersintoself-employmentandwageemploymentisstrongerforwomen,possiblystrongerinurbanareas,andalsostrongerintheleastdevelopedeconomies,whereagriculturei
4、smoredominantandliteracyratesarelower.Thetheoryofhumancapitalpositsthatoneofthemaindriversofinvestmentinschoolingisthenotionthatschoolingproducesskillsthatraiseworkerprodu-ctivityandincome.Education,therefore,isthoughttobebeneficialforeco-nomicgrowth.Thedevelopmentliteraturethusincludesn
5、umerousstudiesthatattempttoquantifytherateofreturntoeducation.Psacharopoulos(1994)hasbroughttogethertheevidencefrom140studiesfromaroundtheworldinawaythatallowsbothinternationalcomparisonsandtrendanalyses.However,almostwithoutexception,returnstoschoolingrefertothereturnsemployeesgeneratef
6、romtheiryearsatschool(Bennell1996).Bycontrast,theliteratureonmeasurementoftherateofreturntoschoolinginentrepreneurshiporitsmostcommonempiricalequivalent,self-employment,isactuallystillpoorlydefined,JustinvanderSluisisaPh.D.studentattheUniversityofAmsterdamandtheTinbergenInstitute;hisemai
7、laddressisj.vandersluis@uva.nl.MirjamvanPraagisprofessorofentrepreneurshipattheUniversityofAmsterdamandresearchfellowattheTinbergenInstitute;heremailaddressisc.m.vanpraag@uva.nl.WimVijverbergisprofessorofeconomicsandpoliticaleconomyattheUniversityofTexas,Dallas,andresearc
