The Long-Term Effects of External Examinations on Entrepreneurship: Evidence from Global Entrepreneurship Monitor
利用全球创业观察数据，研究发现中学阶段的外部考试对创业有长期正面影响，但该效应在国家接近技术前沿时会减弱。
Previous research has found that external examinations positively affect human capital. Still, critics warn that such examinations inhibit the development of skills crucial to entrepreneurship. Using the Global Entrepreneurship Monitor dataset and exploiting variation in examination types at the end of secondary school within countries and over time, we find that external examinations have positive long-term effects on entrepreneurship. An instrumental variables strategy confirms this relationship. However, the positive effect is heterogeneous and fades away as a country approaches the world technology frontier. External examinations benefit entrepreneurship by promoting risk acceptance, skill and opportunity perception, personal networks, and entrepreneurial intentions.