Viability of Self-Employment
研究了自雇经营的高死亡率问题，通过模型分析成本认知对可行性的影响，发现月贷款偿还能力是关键指标，为利率补贴和信贷政策提供启示。
Abstract Empirical studies on self-employment uniformly cite the high mortality rate in both developed and developing countries. Several studies on the entry into self-employment incorporate a savings constraint. Policy makers and international aid agencies have responded by providing credit to would-be entrepreneurs yet the mortality rate persists. We formulate a model of the viability of self-employment that incorporates the impact of cost perceptions at the time of entry. We use the ability to meet monthly loan repayment ratios as a measure of viability since loans are usually the largest explicit cost. Our results have important policy implications on the desirability of interest rate subsidies, the size of initial capital relative to market size and criteria for granting additional credit to existing enterprises.