2014

The International Mobility of Billionaires

Reprint No. 2014:8

Author(s): Tino SanandajiYear: 2014 Title: Small Business Economics Volume (No.): 42 (2) Pages: 329–338
Online article (restrictions may apply)
Preliminary version


This paper uses data from Forbes Magazine’s list of billionaires, supplemented with other publicly available information, to study the migratory behavior of the very rich. Billionaires are more likely to move to countries that share a language and a culture with their country of birth and to countries with larger markets, higher incomes, and lower capital taxes. In total, only 15 % of self-made billionaires— almost all of whom are entrepreneurs—migrated to another country. One explanation for the modest rate of migration may be the country-specificity of entrepreneurs’ human capital. Eight out of ten migrants select a destination country with higher per capita income than that of their birth country, and seven out of ten move to a country with lower capital taxes.


Reference:
Sanandaji, Tino (2014), "The International Mobility of Billionaires". Small Business Economics 42(2), 329–338.

An Agenda for Europe

Institutional Reform for Innovation and Entrepreneurship

Omslag 2017 Institutional Reform for Innovation and Entrepreneurship.jpg

The authors of this book, Niklas Elert, Magnus Henrekson and Mikael Stenkula, advise the economies of the European Union to become more entrepreneurial in promoting innovation and economic growth. The authors propose a reform strategy with respect to several aspects to achieve this goal.

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