The Evolution of U.K. Self-Employment: A Study of Government Policy and the Role of the Macroeconomy.
This paper reports the findings of a time-series analysis exploring the fundamental determinants of the substantial rise in UK self-employment over the period 1972-92. The key findings are that the self-employed/wage employed income differential has a high and positive effect upon the proportion of the workforce in self-employment, supporting alternative wage theories of labor market status, as does housing wealth, supporting credit rationing theories. Perhaps the most interesting feature concerns the relationship between unemployment and self-employment. On this the authors find that it is the duration structure of unemployment that matters not simply the stock of unemployed people. This evidence may imply that self-employment is a last resort for certain individuals marginalized in the employed sector and facing lengthy spells of unemployment. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester
Year of publication: |
1997
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Authors: | Cowling, Marc ; Mitchell, Peter |
Published in: |
The Manchester School of Economic & Social Studies. - School of Economics. - Vol. 65.1997, 4, p. 427-42
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Publisher: |
School of Economics |
Saved in:
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