主讲人：Tianyang Xi (National School of Development, Peking University)
Title: Resource Shocks and Entrepreneurship: Evidence from China
(joint with Ruochen Dai, Lixing Li, & Xuanli Xie)
This paper studies how the dependence on natural resource shapes entrepreneurship in the Chinese context. We exploit the sharp decline of global coal price from 2012 to 2014 as an exogenous shock to identify the sector-specific impact of domestic coal production on entrepreneurship. Using a comprehensive data set of firm registration, the paper finds a strong negative effect of coal production on the establishment of firms. Thus, a weak coal price provided an opportunity for the Chinese economy to pull out of the resource dependence trap. In response to the declining coal sector, potential and existing entrepreneurs take advantage of the decreased opportunity cost and lower entry barrier to establish firms. Induced entrepreneurial activities are more vigorous in sectors with a higher level of downstreamness relative to, and of higher proximity with, the coal sector in the production network, and in regions with an underdeveloped financial sector.
Tianyang Xi obtained his Ph.D. degree in political science at New York University in 2013 before he joined the National School of Development. His fields of interests include conflicts and institutions, political selection, and the political economy of development. His recent works study how the educational and career backgrounds of political leaders shape economic policies, how the rules of political selection affect the characteristics of leaders, and how internal conflicts affected the pattern of bureaucratic selection in the late imperial China. His papers have appeared on Journal of Theoretical Politics, European Journal of Political Economy, and Journal of Development Economics.