"Immigration, Entrepreneurship and the Venture Start-Up Process" Herbert J. Schuetze* Department of Economics, University of Victoria Victoria, BC E-Mail: [email protected]Phone: (250) 721-8541 Fax: (250) 721-6214 Heather Antecol Department of Economics Claremont McKenna College Claremont, California E-Mail: [email protected]August, 2005 * Corresponding author. Funding for this research was provided by SSHRC (grant # 410- 2003-1823). We are grateful to Hui Feng for competent research assistance. We are solely responsible for any omissions or errors.
51
Embed
Immigration, Entrepreneurship and the Venture Start-Up Process
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
"Immigration, Entrepreneurship and the Venture Start-Up Process"
* Corresponding author. Funding for this research was provided by SSHRC (grant # 410-2003-1823). We are grateful to Hui Feng for competent research assistance. We are solely responsible for any omissions or errors.
Table of Contents: 1. Introduction……………………………………………………………………………1 2. Immigration Policy, Structural Market Characteristics and Self-Employment……….5 3. Empirical Framework…………………………………………………………………10 4. Estimation and Results………………………………………………………………...13 5. Earnings Outcomes……………………………………………………………………22 6. Conclusions……………………………………………………………………………27 References………………………………………………………………………………..31 Endnotes………………………………………………………………………………….39 Tables and Figures Table 1: Self-Employment Rates of Men………………………………………………..42 Table 2: Summary of Selected Trends in Predicted Values……………………………..43 Table 3: Decomposition of Changes in the Probability of Self-Employment…………...44 Table 4: Average Log Weekly Earnings of Self-Employed Men………………………..45 Table 5: Earnings Regressions - Assimilation, Cohort and Period Effects……………...46 Figure 1: Business Immigration to Australia and Canada……………………………….47 Appendix Table 1: Variable Definitions…………………………………………………48
1
1. Introduction
Immigrants represent an important source of human capital, which is central to
the development of an entrepreneurial base for many countries. Immigrants are indeed an
entrepreneurial lot – with self-employment rates among many immigrant groups that are
significantly higher than those of native workers. For example, Fairlie (Chapter 10 of
this book) finds that all racial groups in the US, with the exception of Latino immigrants,
have higher self-employment rates than natives. Similar results have been identified
elsewhere in the literature for the US as well as other countries (Clark and Drinkwater,
1998 – UK, Borjas, 1986; Fairlie and Meyer, 1996; Fairlie and Woodruff, 2004 –US, and
Schuetze, 2005 – Canada). The potential to invigorate entrepreneurship through
immigration has not gone unnoticed by policy-makers. Several countries have
implemented programs designed to attract immigrant entrepreneurs. Immigration
policies in countries such as Australia, Canada and Germany include special visas and
entry requirements that facilitate immigration by would-be entrepreneurs.
Perhaps because of the importance of self-employment among immigrants, a
number of research studies have attempted to identify the reasons for the high incidence
of this labor market activity among immigrants compared to natives. A number of
researchers have suggested that cultural factors related to one’s country of origin may
play a role in determining immigrants’ higher propensities towards self-employment.
Light (1984) found significant heterogeneity in self-employment rates across country of
origin and attributed it to diversity in traditions of commerce. Light and Rosenstein
(1995) suggest that different ethnic groups are endowed with diverse “supply
characteristics” that may provide a special advantage in entrepreneurship; such as the
2
ability to cook Chinese food among Chinese immigrants. Others have suggested that
attitudes towards entrepreneurship may be related to one’s religion (Carrol and
Mosakowski, 1987; Rafiq, 1992; and Clark and Drinkwater, 2000). However, empirical
support for the hypothesis that self-employment rates among immigrant groups are
correlated with home-country self-employment rates has been mixed. While Yeungert
(1995) found that immigrants from countries with high self-employment rates are more
likely to become self-employed in the U.S., Fairlie and Meyer (1996) found no
correlation.
One of the dominant explanations for the high rates of immigrant self-
employment put forth early in the literature is blocked mobility. It has been argued that
ethnic minorities faced with discrimination from employers in the wage and salary sector
turn to self-employment as a way to advance in such segmented labor markets1 (Light,
Baker, M., and D. Benjamin. 1994. “The Performance of Immigrants in the Canadian
Labor Market,” Journal of Labor Economics, Vol. 12, No. 3 (July): pp. 369-405
Beach, C.M., and C. Worswick. 1993. “The Performance of Immigrants in the Canadian
Labor Market,” Journal of Labor Economics, 12 (July): pp. 369-405
Bloom, D, G. Grenier, and M. Gunderson. 1995. “The Changing Labor Market Position
of Canadian Immigrants,” Canadian Journal of Economics, 28: pp. 987-1005
Borjas, G., 1985. “Assimilation, Changes in Cohort Quality and the Earnings of
Immigrants,” Journal of Labor Economics 3: pp. 463-489
--------, 1986. “The Self-Employment Experience of Immigrants,” The Journal of Human
Resources, Vol. 21, No. 4 (Autumn): pp. 485-506
--------, 1993. “Immigration Policy, National Origin and Immigrant Skills: A Comparison
of Canada and the United States,” in Small Differences That Matter: Labor Markets and
Income Maintenance in Canada and the United States, eds. D. Card and R. Freeman.
Chicago: University of Chicago Press.
--------, 1995. “Assimilation and Changes in Cohort Quality Revisited: What Happened to
Immigrant Earnings in the 1980s?,” Journal of Labor Economics, Vol. 13, No. 2 (April):
pp. 201-245
33
Briggs, V.M., Jr. 1984. Immigration Policy and the American Labor Force, Baltimore:
Johns Hopkins University Press
Borjas, G. and S. Bronars 1989. “Consumer Discrimination and Self-Employment,”
Journal of Political Economy 97: pp. 581-605
Boyd, R. L., 1990 “Black and Asian Self-Employment in Large Metropolitan Areas: A
Comparative Analysis,” Social Problems, 37, pp. 258-69.
Carroll, G. R. and E. Mosakowski, 1987 “The Career Dynamics of Self-Employment,”
Administrative Sciences Quarterly, 32, pp. 570-89.
Chiswick, B.R., 1978. “The Effect of Americanization on the Earnings of Foreign-Born
Men,” Journal of Political Economy, 86, pp. 897-921.
--------, 1986. “Immigration Policy, Source Countries and Immigrant Skills: Australia,
Canada and the United States,” in The Economics of Immigration, Proceedings of the
Conference held at the Australian National University. Canberra: Australian Government
Printing Service.
Clark, K. and S. Drinkwater, 1998. “Ethnicity and Self-Employment in Britain,” Oxford
Bulletin of Economics and Statistics, 60: pp. 383-407
34
--------, 2000. “Pushed Out or Pulled In? Self-Employment Among Ethnic Minorities in
England and Wales,” Labour Economics, Vol. 7, pp. 603-28
--------, 2002. “Enclaves, Neighbourhood Effects and Employment Outcomes: Ethnic
Minorities in England and Wales,” Journal of Population Economics, Vol. 15, pp. 5-29
Fairlie, R. and Bruce Meyer. 1996. "Ethnic and Racial Self-Employment Differences and
Possible Explanations", Journal of Human Resources, Vol.31, No. 4, pp. 757-793.
Fairlie, R. and C. Woodruff, 2004. "Mexican Entrepreneurship: A Comparison of Self-
employment in Mexico and the United States", Working Paper, University of California
Santa Cruz
Flota, C. and M.T. Mora, 2001 “The Earnings of Self-Employed Mexican-Americans
along the US-Mexico Border,” Annals of Regional Science, 35, pp. 483-99.
Green, A. G., 1995 “A Comparison of Canadian and U.S. Immigration Policy in the
Twentieth Century,” in Diminishing Returns, ed. D. DeVoretz. Toronto: CD Howe
Institute and Laurier Institution
Green, A. G., and D.A. Green, 1995 “Canadian Immigration Policy: The Effectiveness of
the Point System and Other Instruments,” Canadian Journal of Economics, 28, pp. 1006-
41.
35
Lalonde, Robert J., and Robert Topel. 1992 “The Assimilation of Immigrants in the US
Labor Market,” In Immigration and the Workforce, edited by George J. Borjas and
Richard Freeman. Chicago: University of Chicago Press.
Le, A.T. 2000 “The Determinants of Immigrant Self-Employment in Australia,”
International Migration Review, 13, pp. 183-214.
Lester, L. and Sue Richardson, 2004 “A Comparison of Australian and Canadian
Immigration Policies and Labour Market Outcomes,” Report to the Department of
Immigration and Multicultural and Indigenous Affairs: Commonwealth of Australia.
Li, Peter, 1998 The Chinese in Canada, Second Edition Toronto: Oxford University Press
Light, I., 1972 Ethnic Entrepreneurs in America, Berkeley, CA: University of California
Press
--------, 1984. “Immigrant and Ethnic Enterprise in North America,” Ethnic and Racial
Studies, Vol. 7, pp. 195-216
Light, I. and E. Bonacich, 1988 Immigrant Entrepreneurs: Koreans in Los Angeles 1965-
1982, Berkeley, CA: University of California Press
36
Light, I. and C. Rosenstein, 1995 Race, Ethnicity and Entrepreneurship in Urban
America, New York: Aldine de Gruyter
Lofstrom, M. 2002, "Labor Market Assimilation and the Self-Employment Decision of
Immigrant Entrepreneurs," Journal of Population Economics, 15, pp. 83-114
Mata, F. and Ravi Pendakur, 1998 “Immigration, Labour Force Integration and the
Pursuit of Self-Employment,” RIIM working paper #98-05
Metcalf, H., T. Mohood and S. Virdee, 1996, Asian Self-Employment: The Interaction of
Culture and Economics, London: Policy Studies Institute
Miller, P.W. 1999, "Immigration Policy and Immigrant Quality: The Australian Points
System", American Economic Review, Vol. 89, No. 2, pp. 192-197
Min, P.G., 1984 "From White Collar Occupations to Small Business: Korean
Immigrants’ Occupational Adjustment", The Sociological Quarterly, Vol. 25, pp. 333-
352
--------, 1988. “Ethnic Business Enterprise: Korean Small Business in Atlanta,” New
York: Center for Migration Studies
37
Moore, R.L., 1983 "Employer Discrimination: Evidence from Self-Employed Workers,"
Review of Economics and Statistics, 655, pp. 496-501
Parker, S. C., 2004 The Economics of Self-Employment and Entrepreneurship,
Cambridge: Cambridge University Press
Phizacklea, A., 1988, "Entrepreneurship, Ethnicity and Gender", Ch.2 in Enterprising
Women, eds. S. Westwood and P. Bhachu., London: Routledge
Rafiq, M., 1992, "Ethnicity and Enterprise: A Comparison of Muslim and Non-Muslim
Owned Asian Businesses in Britain", New Community, 19, pp. 43-60
Razin, E. and A. Longlois, 1996, "Metropolitan Characteristics and Entrepreneurship
Among Immigrants and Ethnic Groups in Canada", International Migration Review, 30,
pp. 703-27
Schuetze, H.J., 2000, "Taxes, Economic Conditions and Recent Trends in Male Self-
Employment: A Canada-U.S. Comparison", Labour Economics, 7, pp. 507-544
--------, 2004, "Tax Policy and Entrepreneurship", Swedish Economic Policy Review, Vol.
11, No. 2.
38
--------, 2005, "The Self-Employment Experience of Immigrants to Canada", University
of Victoria working paper.
Sowell, T., 1981, Markets and Minorities, New York: Basic Books
Wong, L. and Michele Ng. 2002. "The Emergence of Small Transnational Enterprise in
Vancouver: The Case of Chinese Immigrant Entrepreneurs," International Journal of
Urban and Regional Research. 26 (3): 508-530
Yuengert, A.M. 1995 “Testing Hypothesis of Immigrant Self-Employment,” The Journal
of Human Resources, Vol. 30, No. 1 (Winter): pp. 194-204
39
Endnotes
1 See Light and Rosenstein, 1995 and Parker, 2004, for a more thorough discussion of the literature.
2 Borjas (1986) and Lofstrom (2002) examine data on the US. However, because these studies are limited
to a single country over a limited period of time they do not provide much insight into the roles of
immigration policy and other institutional/market factors in the start-up process – a topic of focus in this
chapter. Schuetze (2005), which most closely resembles the current study, focuses on self-employment
outcomes of immigrants through time in both Canada and the United States.
3 A number of studies have made use of this setting. See, for example, Chiswick (1987), Antecol, Cobb-
Clark, and Trejo (2003a) and (2003b), and Antecol, Kuhn and Trejo (2003).
4 See, for example, Borjas (1985) or LaLonde and Topel (1992).
5 Examples include Chiswick (1987), Duleep and Regets (1992), Borjas (1993), and Antecol, Cobb-Clark
and Trejo (2003).
6 Much of this section is based on previous work by Antecol, Cobb-Clark and Trejo (2003).
7 The debate, (see Duleep and Sanders, 1992; Borjas, 1993; and Antecol, Cobb-Clark and Trejo, 1993),
centers around the issue of whether or not it was the introduction of the points systems in Canada and
Australia which led to the shift in observable skills (such as, education levels) of immigrants. The fact that
the shifts in skill occurred, however, is of central interest to the current chapter, not the reason for the shift
per se.
8 Perhaps because of the more stringent evaluation of skilled immigrants to Australia, Chiswick (1987)
finds the average levels of education highest among Australian immigrants.
9 Antecol, Cobb-Clark, and Trejo (2003a, 2003b) find similar results using the 1990/91 censuses for
Australia, Canada and the US. However, once immigrants from Central/South America are excluded, the
skill levels of immigrants are similar across the three countries.
10 See Parker (2004), pg. 73 for a review of this literature.
11 Other categories are available to those who are sponsored by an Australian State/Territory. For more
information go to www.immi.gov.au.
40
12 A minimum amount of investment capital is required for those entering under the investor and
entrepreneur categories.
13 This is not the case for “investors” in either country.
14 Lester and Richardson (2004) provide a good comparison of the two countries’ immigration policies.
15 For this estimate to be unbiased it must be assumed that cohort specific fixed effects are equal across
time. This may not be true in this setting if, for example, the composition of the cohort changes through the
remigration of immigrants based on skills.
16 By “start-up” we mean not necessarily that the firm itself is newly created (we do not observe this) but
that the immigrant owner is new to a given venture in the destination country.
17 However, as in Schuetze (2005), the results here are similar when the base group is comprised of
previous immigrants. These results are available from the authors upon request.
18 Because detailed information on year of arrival for immigrants in regions determined to have too few
observations to protect confidentiality are unavailable, data drawn from the Canadian census files is
restricted to Quebec, Ontario and the Western Provinces.
19 In particular, the year of arrival information in the 2001 Australian Census is not detailed enough to
analyze using the empirical framework laid out in Section 3.
20 Data limitations prohibit us from identifying individuals in the armed forces in Australia.
21 In Australia, the samples are restricted to individuals aged 20 to 54 in 1981 and to those aged 30 to 64 in
1991 because of data limitations.
22 Agricultural industries include agricultural production and services, forestry, fishing, hunting and
trapping.
23 To account for aging of the cohorts of workers, unlike in the regression data, we restrict attention to
individuals aged 18-54 (20-54 in Australia) in all years.
24 For ease of exposition, we will refer to particular immigrant cohorts using the year intervals that pertain
to the Australian and Canadian data, with the implied understanding that in the U.S. data the actual cohort
intervals begin and end one year earlier.
25 See Aronson, 1991 and Parker, 2004, for reviews
41
26 Examples include Chiswick, 1978; Borjas, 1985, 1995; Beach and Worswick, 1993; and Green and
Green, 1995
27 In essence, the period effect is estimated from natives, and this information is used to identify cohort and
assimilation effects for immigrants.
28 The full set of regression results are available from the authors upon request.
29 In Australia, we restrict the sample to respondents who worked 16 (15) or more hours in their main job in
the reference week in 1981 (1991).
30 In Australia, all variables pertain to the reference week, therefore, we continue to define self-employment
as described in Section 4.
31 The results reported here include those with self-employment income comprising 25 percent or more of
the previous year’s earnings. However, the results are not sensitive to this cut-off – in part because the
incidence of individuals with multiple sources of income is relatively rare.
32 Unfortunately, the Australian census does not distinguish an individual’s earnings from his other sources
of income, so for Australia we are forced to use weekly personal income as our proxy for wages.
33 While the income measure in Australia is categorical, we convert it into a continuous variable by
assigning each individual the midpoint of his income category. To ensure this does not effect our results,
we estimate the model using both interval and censored regression. The results are similar and available
upon request.
42
Table 1. Self-Employment Rates of Men
Notes: • Samples in all years are restricted to men aged 18-54 (20-54 in Australia). • Standard deviations in parentheses. • Number of observations in brackets.
Australia Canada U.S.
1981 1991 1981 1991 1980 1990
Natives
0.136
(0.343)
[17389]
0.179
(0.384)
[21068]
0.099
(0.299)
[62379]
0.117
(0.321)
[104923]
0.102
(0.302)
[727852]
0.110
(0.312)
[788906]
Immigrants
0.153
(0.360)
[6344]
0.204
(0.403)
[7591]
0.145
(0.352)
[17016]
0.163
(0.369)
[26325]
0.114
(0.318)
[130510]
0.117
(0.321)
[221569]
Cohort
Pre 1961
0.177
(0.309)
[68976]
0.192
(0.394)
[4459]
0.158
(0.364)
[32093]
0.161
(0.367)
[22925]
61-65
0.147
(0.354)
[1960]
0.195
(0.397)
[2150]
0.139
(0.346)
[17348]
0.148
(0.355)
[17561]
66-70
0.171
(0.377)
[4686]
0.240
(0.427)
[3430]
0.140
(0.347)
[3539]
0.176
(0.380)
[4792]
0.123
(0.328)
[22825]
0.142
(0.349)
[23476]
71-75
0.108
(0.310)
[837]
0.182
(0.386)
[1053]
0.114
(0.318)
[3100]
0.162
(0.369)
[5018]
0.100
(0.301)
[27351]
0.143
(0.350)
[30027]
76-80
0.094
(0.292)
[821]
0.247
(0.432)
[777]
0.087
(0.282)
[1820]
0.158
(0.365)
[3483]
0.061
(0.239)
[30893]
0.129
(0.335)
[36242]
81-85
0.174
(0.379)
[876]
0.148
(0.355)
[2675]
0.101
(0.301)
[45988]
86-91
0.129
(0.336)
[1455]
0.108
(0.310)
[3748]
0.059
(0.236)
[45350]
43
Table 2. Summary of Selected Trends in Predicted Values
Australia Canada U.S. 1981 1991 1981 1991 1980 1990
Predicted Probability
Natives*
0.182
(0.004)
0.235
(0.003)
0.136
(0.002)
0.148
(0.001)
0.122
(0.000)
0.127
(0.000)
GAP**
-0.052
(0.014)
-0.071
(0.013)
-0.022
(0.009)
-0.029
(0.006)
-0.038
(0.002)
-0.045
(0.002)
Notes: * The predicted probability of self-employment for a native with similar characteristics as the average immigrant in 1990/91. ** The predicted probability “gap” in the self-employment rates between the most recent arrival cohort and a similar native. • Standard errors derived from bootstrapping in parentheses.
44
Table 3. Decomposition of Changes in the Probability of Self-Employment
Australia Canada U.S. Cross- Unadjusted Adjusted Unadjusted Adjusted Unadjusted Adjusted Section Within Across Within Across
Cross-
Section Within Across Within Across
Cross-
Section Within Across Within Across
51-61 -0.015
(0.009)
0.009
(0.007)
-0.005
(0.007)
-0.002
(0.007)
0.007
(0.007)
-0.010
(0.003)
0.000
(0.003)
-0.011
(0.003)
-0.005
(0.003)
-0.006
(0.003)
61-71 0.020
(0.010)
0.034
(0.011)
-0.014
(0.011)
0.022
(0.011)
-0.002
(0.011)
-0.015
(0.003)
0.003
(0.004)
-0.018
(0.003)
-0.002
(0.004)
-0.013
(0.003)
66-76 -0.030
(0.019)
0.061
(0.010)
-0.091
(0.019)
0.007
(0.011)
-0.037
(0.020)
-0.003
(0.008)
0.023
(0.009)
-0.026
(0.010)
0.011
(0.009)
-0.014
(0.010)
-0.008
(0.003)
0.018
(0.003)
-0.026
(0.003)
0.013
(0.003)
-0.021
(0.003)
71-81 0.020
(0.022)
0.092
(0.021)
-0.072
(0.020)
0.038
(0.021)
-0.018
(0.021)
0.012
(0.010)
0.039
(0.009)
-0.026
(0.010)
0.027
(0.009)
-0.015
(0.010)
0.024
(0.003)
0.036
(0.003)
-0.011
(0.003)
0.031
(0.003)
-0.006
(0.003)
76-86 0.110
(0.021)
0.144
(0.022)
-0.035
(0.018)
0.091
(0.023)
0.019
(0.019)
0.057
(0.029)
0.061
(0.011)
-0.004
(0.010)
0.049
(0.011)
0.008
(0.010)
0.069
(0.002)
0.067
(0.003)
0.002
(0.002)
0.062
(0.003)
0.007
(0.003)
Notes: • For a description of the decomposition see text. • Standard errors derived from bootstrapping in parentheses.
45
Table 4. Average Log Weekly Earnings of Self-Employed Men
Australia Canada U.S.
1981 1991 1981 1991 1980 1990
Natives 6.155
(0.578)
[2147]
6.125
(0.749)
[3298]
6.408
(0.984)
[4323]
6.325
(1.060)
[8133]
6.283
(0.944)
[55798]
6.168
(1.086)
[64674]
Immigrants 6.146
(0.547)
[863]
6.097
(0.740)
[1338]
6.417
(0.933)
[1392]
6.312
(1.070)
[2361]
6.361
(0.958)
[10347]
6.196
(1.087)
[17831]
Cohort Pre 1961
6.472
(0.899)
[649]
6.375
(0.945)
[440]
6.462
(0.894)
[3446]
6.402
(1.034)
[2466]
61-65
6.301
(1.068)
[175]
6.348
(1.035)
[213]
6.440
(0.970)
[1630]
6.364
(1.020)
[1747]
66-70 6.138
(0.529)
[708]
6.075
(0.778)
[712]
6.388
(0.905)
[288]
6.415
(1.013)
[440]
6.351
(0.965)
[1922]
6.281
(1.142)
[2178]
71-75 6.177
(0.504)
[84]
6.126
(0.680)
[166]
6.422
(0.977)
[191]
6.317
(1.174)
[473]
6.294
(0.964)
[1951]
6.300
(1.076)
[2875]
76-80 6.184
(0.739)
[71]
6.081
(0.772)
[174]
6.332
(0.885)
[89]
6.217
(1.054)
[325]
5.124
(1.027)
[1398]
6.206
(1.112)
[3219]
81-85
6.161
(0.604)
[126]
6.285
(1.050)
[258]
6.018
(1.034)
[3341]
86-91
6.134
(0.693)
[160]
6.094
(1.232)
[212]
5.836
(1.080)
[2005]
Notes: • Samples in all years are restricted to men aged 18-54 (20-54 in Australia). • Earnings values inflated to each countries 1990/91 level using CPI. • Standard deviations in parentheses. • Number of observations in brackets.
46
Table 5. Earnings Regressions Assimilation, Cohort and Period Effects
Australia Canada U.S. Cross- Unadjusted Adjusted Unadjusted Adjusted Unadjusted Adjusted Section Within Across Within Across
Cross-Section Within Across Within Across
Cross-Section Within Across Within Across
51-61 -0.024
(0.750)
0.441
(0.000)
-0.422
(0.00)
0.006
(0.917)
0.012
(0.697)
0.057
(0.086)
0.476
(0.000)
-0.506
(0.000)
0.058
(0.022)
-0.001
(0.971)
61-71 0.122
(0.594)
0.667
(0.000)
-0.545
(0.000)
0.232
(0.023)
-0.110
(0.230)
0.059
(0.053)
0.486
(0.000)
-0.484
(0.000)
0.068
(0.041)
-0.009
(0.775)
66-76 -0.010
(0.873)
0.671
(0.000)
-0.681
(0.000)
-0.008
(0.834)
-0.002
(0.974)
0.165
(0.219)
0.595
(0.000)
-0.430
(0.000)
0.160
(0.029)
0.005
(0.951)
0.066
(0.059)
0.488
(0.000)
-0.456
(0.000)
0.070
(0.000)
-0.003
(0.905)
71-81 0.001
(0.994)
0.669
(0.000)
-0.668
(0.000)
-0.010
(0.900)
0.011
(0.890)
0.024
(0.232)
0.503
(0.000)
-0.479
(0.000)
0.068
(0.416)
-0.043
(0.642)
0.198
(0.000)
0.567
(0.000)
-0.417
(0.000)
0.149
(0.000)
0.048
(0.087)
76-86 0.072
(0.392)
0.674
(0.000)
-0.602
(0.000)
-0.005
(0.961)
0.077
(0.474)
0.176
(0.098)
0.432
(0.000)
-0.256
(0.036)
-0.003
(0.973)
0.179
(0.147)
0.246
(0.000)
0.605
(0.000)
-0.389
(0.000)
0.186
(0.000)
0.059
(0.134)
Note: P-values are reported in parentheses.
47
Figure 1:
Business Immigration to Australia and Canada: 1980-1990