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The moderating role of education in the relationship between FDI and entrepreneurial activity

Author

Listed:
  • Jenny Berrill

    (Trinity College Dublin)

  • Martha O’Hagan-Luff

    (Trinity College Dublin)

  • André Stel

    (Trinity College Dublin
    Kozminski University)

Abstract

We investigate the roles of inward FDI and education in explaining country levels of entrepreneurship. It is widely recognised that inward FDI may have positive but also negative spillover effects on entrepreneurial activity. We argue that both types of spillovers (positive and negative) may be reinforced by high education levels of the labour force. Using a database across 75 countries between 2001 and 2015, we estimate a 2SLS model that tests for this moderating role of education. We find support for a negative interaction effect of FDI and macro-level education on the rate of entrepreneurial activity, suggesting that in countries with highly educated labour forces, inward FDI leads to more jobs in the wage sector rather than a higher number of entrepreneurs. Policy implications are discussed.

Suggested Citation

  • Jenny Berrill & Martha O’Hagan-Luff & André Stel, 2020. "The moderating role of education in the relationship between FDI and entrepreneurial activity," Small Business Economics, Springer, vol. 54(4), pages 1041-1059, April.
    • Handle: RePEc:kap:sbusec:v:54:y:2020:i:4:d:10.1007_s11187-018-0121-6
    DOI: 10.1007/s11187-018-0121-6
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