Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. Integrating administrative data on firms, workers, and owners, we study startups systematically in the U.S. and find that successfull entrepreneurs are middle-aged, not young. The mean age at founding for the 1-in-1,000 fastest growing new ventures is 45.0. The findings are similar when considering high-technology sectors, entrepreneurial hubs, and successful firm exits. Prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.
Speaker:
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Javier Miranda, Principal Economist, Economy-Wide Statistics Division, US Census Bureau
Bio:
Javier Miranda is Principal Economist at the U.S. Census Bureau where he began his career in 1998. Javier received his Ph.D. in Economics from American University in 2004. Previous to joining the Census Javier was a research consultant at the World Bank and the Urban Institute. Javier has published papers in the areas of industrial organization, technological change, job creation, entrepreneurship and firm financing. Among his publications are articles in the American Economic Review, Journal of Economic Literature, American Economic Journal Macroeconomics, Review of Economic and Statistics, IMF Review, World Bank Economic Review, Journal of Business Valuation and Economic Loss, NBER Macroeconomics Annual, and multiple books and chapters. Javier received the Director's Award for Innovation (2007) and the U.S. Department of Commerce Bronze Medal (2011). His contributions to data infrastructure are notable. Javier Miranda is responsible for the development of the Longitudinal Business Database and the Business Dynamics Statistics and is the Synthetic Longitudinal Business Database v3. Together with the USPTO Javier has led the development the Business Dynamics Statistics of Innovative Firms a longitudinal database of firms, patents, and inventors. Javier Miranda is also President of the Board of SEM an adult education and job readiness program designed to address the root causes of poverty, illiteracy, and violence in Washington DC.
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Javier Miranda, Principal Economist, Economy-Wide Statistics Division, US Census Bureau
China's future will be determined by how its leaders manage its myriad interconnected challenges. In Fateful Decisions, leading experts from a wide range of disciplines eschew broad predictions of success or failure in favor of close analyses of today's most critical demographic, economic, social, political, and foreign policy challenges. They expertly outline the options and opportunity costs entailed, providing a cutting-edge analytic framework for understanding the decisions that will determine China's trajectory.
Xi Jinping has articulated ambitious goals, such as the Belt and Road Initiative and massive urbanization projects, but few priorities or policies to achieve them. These goals have thrown into relief the crises facing China as the economy slows and the population ages while the demand for and costs of education, healthcare, elder care, and other social benefits are increasing. Global ambitions and a more assertive military also compete for funding and policy priority. These challenges are compounded by the size of China's population, outdated institutions, and the reluctance of powerful elites to make reforms that might threaten their positions, prerogatives, and Communist Party legitimacy. In this volume, individual chapters provide in-depth analyses of key policies relating to these challenges. Contributors illuminate what is at stake, possible choices, and subsequent outcomes. This volume equips readers with everything they need to understand these complex developments in context.
Southeast Asia, home to over 640 million people across 10 countries, is one of the world’s most dynamic and fastest growing regions. APARC just concluded the year 2019 with a Center delegation visit to two Southeast Asian capital cities, Hanoi and Bangkok, where we spent an engaging week with stakeholders in the academic, policy, business, and Stanford alumni communities.
Led by APARC Director Gi-Wook Shin, the delegation included APARC Deputy Director and Asia Health Policy Program Director Karen Eggleston, Southeast Asia Program Director Donald Emmerson, and APARC Associate Director for Communications and External Relations Noa Ronkin. Visiting Scholar Andrew Kim joined the delegation in Bangkok.
Karen Eggleston and participants at the roundtable held at Hanoi Medical University, December 9, 2019.
Throughout the day, Eggleston presented some of her collaborative research that is part of two projects involving international research teams: one that assesses public-private roles and institutional innovation for healthy aging and another that examines the economics of caring for patients with chronic diseases across diverse health systems in Asia and other parts of the world. We appreciated learning from our counterparts about the health care system and health care delivery in Vietnam.
Shifting focus to international relations and regional security, day 2 in Hanoi opened with a roundtable, “The Rise of the Indo-Pacific and Vietnam-U.S. Relations,” held jointly with the East Sea Institute (ESI) of the Diplomatic Academy of Vietnam (DAV). Following a welcome by ESI Director General Nguyen Hung Son, the program continued with remarks by Shin, Emmerson, ESI Deputy Director General To Anh Tuan, and Assistant Director General Do Thanh Hai.
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Roundtable at the Diplomatic Academy of Vietnam, December 10, 2019.
The long-ranging conversation with DAV members included issues such as the future of the international order in Asia; the U.S. withdrawal from multilateralism; the concern about a lack of U.S. engagement in Southeast Asia, sparked by President Trump’s absence from the November 2019 summit of the Association of Southeast Asian Nations (ASEAN) at a time when China is bolstering its influence in the region and when ASEAN hopes to set a code of conduct with China regarding disputed waters in the South China Sea; the priorities for Vietnam as it assumes the role of ASEAN chair in 2020; and the challenges for the Vietnam-U.S. bilateral relationship amid the changing strategic environment in Southeast Asia.
In the afternoon we were joined by members of the American Chamber of Commerce in Hanoi at an AmCham-hosted Lunch ‘n’ Learn session on Vietnam's challenges and opportunities amid the U.S.-China rivalry. The event featured Emmerson in conversation with AmCham Hanoi Executive Director Adam Sitkoff.
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(Left) Donald Emmerson in conversation with Adam Sitkoff; (right) Gi-Wook Shin welcomes AmCham Hanoi members; December 10, 2019.
Moving to Bangkok, delegation members Shin, Eggleston, Emmerson, and Kim spoke on a panel for executives of the Charoen Pokphand Group (C.P. Group), one of Thailand’s largest private conglomerates, addressing some of the core issues that lie ahead for Southeast Asia in 2020 and beyond in the areas of geopolitics, innovation, and health.
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Top, from left to right: Gi-Wook Shin, Karen Eggleston, Andrew Kim; bottom: C.P. Group executive listening to the panel, December 12, 2019.
We also enjoyed a tour at True Digital Park, Thailand’s first startup and tech entrepreneur’s campus. Developed by the C.P. Group, True Digital Park aspires to be an open startup ecosystem that powers Thailand to become a global hub for digital innovation.
The following day, Shin and Emmerson participated in a public forum hosted by Chulalongkorn University’s Institute of Security and International Studies (ISIS Thailand), "Where Northeast Asia Meets Southeast Asia: The Great Powers, Global Disorder and Asia’s Future.” They were joined by ISIS Thailand Director Thitinan Pongsudhirak and Chulalongkorn University Faculty of Political Science Associate Dean for International Affairs and Graduate Studies Kasira Cheeppensook. The panel was moderated by Ms. Gwen Robinson, ISIS Thailand senior fellow and editor-at-large of the Nikkei Asian Review.
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ISIS Thailand forum participants and panelists, from left: Pngsukdhirak, Shin, Robinson, Emmerson, Cheeppensook; December 13, 2019.
As part of that discussion, Emmerson speculated that – driven by deepening Chinese economic and migrational involvement in Southeast Asia’s northern tier – Cambodia and Laos, less conceivably Myanmar, and still less conceivably Thailand could become incorporated de facto into an economically integrated “greater China” that could eventually reduce ASEAN to a more-or-less maritime membership in the region’s southern tier. Emmerson’s speculation was made in the context of his critique of ASEAN’s emphasis on its own “centrality” to the neglect of its lack of the proactivity that would serve as evidence of centrality and of a desire not to be rendered peripheral by the growing centrality-cum-proactivity of China. The event was covered by the Bangkok Post (although that report’s headline and quote of Emmerson are inaccurate, as neither the panel nor Emmerson predicted the “break-up of ASEAN.”)
Stanford and IvyPlus alumni listening to the panel, December 13, 2019.
Moderated by Mr. Suthichai Yoon, a veteran journalist and founder of digital media outlet Kafedam Group, the conversation focused on the changing geopolitics of Southeast Asia, innovation and health in the region, and the opportunities and challenges facing Thailand-U.S. relations. It was a pleasure to meet many new and old friends from the Stanford and IvyPlus alumni communities.
APARC would like to thank our partners and hosts in Hanoi and Bangkok for their hospitality, collaboration, and the stimulating discussions throughout our visit. We look forward to keeping in touch!
The demographics of Japan’s aging society has galvanized a wide range of corporate efforts, supported both directly and indirectly by the government, to aggressively develop artificial intelligence-driven technologies and IT systems to perform work for which labor shortages are accelerating. We are beginning to see concrete corporate offerings to address shortages of specific types of skilled and unskilled labor, as well as numerous efforts underway to develop systems to cope with sparsely populated, elderly geographic regions and the logistics surrounding eldercare more generally.
In this talk, based on a forthcoming book chapter, Kushida examines specific corporate cases and government strategies suggesting how Japan’s population aging and shrinking has led to three primary interrelated drivers of significance to shaping technological trajectories: 1) Demographics as market opportunity of an entirely unprecedented scale to serve the needs of a rapidly aging society; 2) demographic change creating an acute labor shortage; and 3) favorable political and regulatory dynamics for pursuing the development and diffusion of new technological trajectories to solve social and economic challenges caused by demographic change. A critical implication is that if technologies developed or deployed within Japan to solve domestic demographic problems are applicable elsewhere, then Japan’s demographic challenge can be an opportunity to cultivate competitive products and services in global markets.
SPEAKER
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Kenji E. Kushida is a Japan Program Research Scholar at the Walter H. Shorenstein Asia-Pacific Research Center and an affiliated researcher at the Berkeley Roundtable on the International Economy. Kushida’s research interests are in the fields of comparative politics, political economy, and information technology. He has four streams of academic research and publication: political economy issues surrounding information technology such as Cloud Computing; institutional and governance structures of Japan’s Fukushima nuclear disaster; political strategies of foreign multinational corporations in Japan; and Japan’s political economic transformation since the 1990s. Kushida has written two general audience books in Japanese, entitled Biculturalism and the Japanese: Beyond English Linguistic Capabilities (Chuko Shinsho, 2006) and International Schools, an Introduction (Fusosha, 2008). Kushida holds a PhD in political science from the University of California, Berkeley. He received his MA in East Asian studies and BAs in economics and East Asian studies, all from Stanford University.
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Kenji E. Kushida was a research scholar with the Japan Program at the Walter H. Shorenstein Asia-Pacific Research Center from 2014 through January 2022. Prior to that at APARC, he was a Takahashi Research Associate in Japanese Studies (2011-14) and a Shorenstein Postdoctoral Fellow (2010-11).
Kushida’s research and projects are focused on the following streams: 1) how politics and regulations shape the development and diffusion of Information Technology such as AI; 2) institutional underpinnings of the Silicon Valley ecosystem, 2) Japan's transforming political economy, 3) Japan's startup ecosystem, 4) the role of foreign multinational firms in Japan, 4) Japan's Fukushima nuclear disaster. He spearheaded the Silicon Valley - New Japan project that brought together large Japanese firms and the Silicon Valley ecosystem.
He has published several books and numerous articles in each of these streams, including “The Politics of Commoditization in Global ICT Industries,” “Japan’s Startup Ecosystem,” "How Politics and Market Dynamics Trapped Innovations in Japan’s Domestic 'Galapagos' Telecommunications Sector," “Cloud Computing: From Scarcity to Abundance,” and others. His latest business book in Japanese is “The Algorithmic Revolution’s Disruption: a Silicon Valley Vantage on IoT, Fintech, Cloud, and AI” (Asahi Shimbun Shuppan 2016).
Kushida has appeared in media including The New York Times, Washington Post, Nihon Keizai Shimbun, Nikkei Business, Diamond Harvard Business Review, NHK, PBS NewsHour, and NPR. He is also a trustee of the Japan ICU Foundation, alumni of the Trilateral Commission David Rockefeller Fellows, and a member of the Mansfield Foundation Network for the Future. Kushida has written two general audience books in Japanese, entitled Biculturalism and the Japanese: Beyond English Linguistic Capabilities (Chuko Shinsho, 2006) and International Schools, an Introduction (Fusosha, 2008).
Kushida holds a PhD in political science from the University of California, Berkeley. He received his MA in East Asian Studies and BAs in economics and East Asian Studies with Honors, all from Stanford University.
South Korea faces a shortage of highly skilled labor, but with a low tolerance for diversity, it lags behind in its global competitiveness to retain mobile skilled talent. Using data on foreign students and professionals, the authors demonstrate the potential of skilled migrants as both human and social capital for Korea and suggest that the country is poised to adopt a study-bridge-work framework to compensate for its competitive weaknesses.
Korea’s migrants have diversified in recent decades. A special section of the journal Asian Survey gathers articles that address this development by examining issues of class as an analytical lens in addition to ethnicity and citizenship, and also by considering the contributions of migrants from both human and social capital perspectives. By doing so, the authors aim to provide a better understanding of the varied experiences, realities, and complexities of Korea’s increasingly diverse migrant groups.
In this introduction to the special section, coeditors Gi-Wook Shin and Rennie Moon explain the growing diversity of Korea's migrants, outline current literature on the country's migrant groups, and review the four articles in the special section and their contributions to the understanding of the growing heterogeneity and complexity of Korea's migrants.
A special section in the latest issue of the journal Asian Survey, coedited by APARC and the Korea Program Director Gi-Wook Shin, suggests a new framework in both social discourse and policy that reflects the varied complexities of Korea’s increasingly diverse migrants and that charts a course forward for a nation that is staring into a demographic abyss.
South Korea (hereafter Korea) is widely regarded as among the world’s most ethnically and linguistically homogeneous countries. In 1990, Korea counted only 49,000 foreigners amongst its population. But over the last two decades, the number of migrants in the country has grown dramatically, reaching 2.3 million (or 4.5% of the population) in 2018. Just as important is the growing diversity of migrants coming to Korea. In addition to unskilled workers and marriage migrants from developing countries, they increasingly include skilled migrant workers and marriage migrants from a range of developed Western countries.
These more recent migrant groups, however, do not fit into the dominant framework of Korean multiculturalism, and often remain invisible in Korean society, facing discrimination and largely left out of social discourse and government policy. For a nation that is aging faster than any other developed country and that struggles with weak global talent competitiveness, it is crucial to better understand the growing heterogeneity and complexity of migrants beyond their dichotomized depictions as Korean versus non-Korean in ethnicity and citizenship.
This is the focus of a special section in the July/August 2019 issue of the journal Asian Survey, titled Korea’s Migrants: From Homogeneity to Diversity. Coedited by APARC and the Korea Program Director Gi-Wook Shin and former Koret Fellow in Korean Studies Rennie J. Moon (now associate professor at Yonsei University’s Underwood International College), the special section collects articles that examine issues of class and highlight the contributions of migrants from both human and social capital perspectives, with an eye to a better appreciation of the values of diversity and transnationalism. “By doing so,” write Shin and Moon, “we aim to provide a better understanding of the varied experiences, realities, and complexities of Korea’s increasingly diverse migrant groups” and to “suggest a new framework in both social discourse and policy that reflects these complexities.” The articles in the special collections were originally presented and discussed at the Korea Program’s ninth annual Koret Workshop.
Diversity within Korea’s Migrant Groups
To capture the diversity and complexity of Korea’s migrants, Shin and Moon say, scholars need to examine within-group variation. The papers in the special section do so with respect to three migrant groups—marriage migrants, return migrants, and skilled labor—by focusing on nontraditional, relatively under-researched, highly skilled populations, mostly from developed countries, within those groups:
University of Sheffield scholar Sarah A. Son studies cross-border marriages between Korean men and Anglophone women, and shows that these Western women have very different experiences and social expectations compared with Asian female marriage migrants from developing countries. Western women bring greater perceived socioeconomic equality to the relationship by virtue of their economic position, education, and cultural background, and do not fit the common description of Asian female marriage migrants as representative of hypergamy (marrying a partner of higher social status). They also do not conform to the Korean state’s vision of social integration and resist its policy provisions to a greater degree than Asian marriage migrants. In fact, multiculturalism policy has failed to engage this Western migrant group.
What does it mean to be a skilled migrant returnee in Korea? Singapore Management University Research Fellow and former APARC Visiting Scholar Jane Yeonjae Lee provides an answer to this question by looking at the varying experiences and coping strategies of Korean returnees from New Zealand. She finds that, thanks to their educational and economic status, they fare better than traditional ethnic Korean return migrants, who experience hardships due to their status as unskilled labor. However, the process of skill transfer is not easy, and most of the skilled returnees are not fully accepted as Korean, experiencing some degree of alienation and disconnection based on their “overseas Korean” identities. In addition to greater social acceptance of skilled returnees, Lee argues, Korea needs a better policy mechanism for sustaining return migration.
Lastly, Shin, Moon, and former Koret Fellow in Korean Studies Joon Nak Choi (now an adjunct assistant professor at Hong Kong University of Science and Technology’s School of Business Management) focus on elite groups of skilled labor migrants, particularly foreign students studying in Korea and foreign professionals the country imports as skilled labor. The three authors aruge that Korea has largely failed to leverage the potential of these migrant groups, and that it must pay close attention paticularly to their human and social capital potential.
Migrants’ human capital stems from their specialized skills acquired through education, training, and work experience, which can benefit especially Korea’s small- and medium-sized firms. Their social capital is the value they can provide through their social ties that spread information and innovations and that form “transnational bridges” between Korea and their home countries. Social capital is especially advantageous for Korea’s large firms that compete in global markets.
The authors stress the need for Korea to develop a new policy framework, known as study-work framework, for cultivating social capital for skilled foreigners while in Korea. If Korea is to meet the challenges associated with its aging, depopulation, shrinking workforce, and weak position in the global war for mobile skilled talent, then it must “better appreciate the value of the cultural diversity [migrants] bring to its society and economy, as well as their human and social capital contributions.”
Shorenstein APARC's annual overview for academic year 2017-18 is now available.
Download it for information on the wide variety of Center research from the the past academic year, Shorenstein APARC's educational activities, and major Center events like the Shorenstein Journalism Award.
In Beijing’s bustling Chaoyang District stands a multi-story building known as the Gonghe Senior Apartments: a 400-bed nursing home for middle-income seniors who are disabled or suffer from dementia. Why is Gonghe unique and why is it worth considering? Because Gonghe is a public-private partnership (PPP), a collaborative organizational structure supported by the District Civil Affairs Bureau Welfare Division that donated the land and building and the nonprofit Yuecheng Senior Living that operates the facility. And because PPPs like Gonghe might just be the right model to address the challenges surrounding elderly care in China as well as in other nations that face a looming burden of population aging.
This was a core message shared by Alan Trager, founder and president of the PPP Initiative Ltd., who spoke at a special workshop organized by Shorenstein APARC’s Asia Health Policy Program (AHPP). Focused on PPPs in health and long-term care in China, the workshop was part of a two-day convening related to the Innovation for Healthy Aging project, a collaborative research project led by APARC Deputy Director and AHPP Director Karen Eggleston that identifies and analyzes productive public-private partnerships advancing healthy aging solutions in East Asia and other regions.
The Innovation for Healthy Aging project is driven by the imperative to respond to a world that is aging rapidly. This demographic transition, reminded Trager at the opening of his talk, is a defining issue of our time, as aging is a multisectoral issue that increases the demand for health care, long-term care, and a large number of other social services. The aging challenge is exacerbated by its convergence with the rising prevalence of non-communicable diseases (NCDs), also known as chronic diseases. For while NCDs affect all age groups, they account for the highest burden among the elderly.
China: Ground Zero for Global Aging
Alan Trager discusses health and long-term care in China in the GSB's Highly Immersive Classroom (Photo: Noa Ronkin)
The need to advance healthy aging and NCD prevention is a matter of grave concern in China, whose older population is larger than in any other country. Moreover, the aging challenge in China is interwoven with unique social trends. In particular, filial piety—which, for thousands of years, has been a fundamental family value and a mainstay of health and elder care—is under pressure, as young people strive to balance the demands of careers, fewer children per family, and migrating to cities for school and work, without affordable housing or long-term care financing support for their parents and other elderly relatives, who often stay in rural areas.
China’s health system is yet to adapt to the shift in the disease burden and health care needs driven by the aging population. Its existing health insurance programs are insufficient for outpatient management and care of chronic conditions, and as Trager emphasized, there is a lack of investment in training geriatric medicine professionals and incorporating geriatric principles into clinical practice.
How can China meet the high demand for elder care, increase workforce capacity, and promote healthy aging?
The answer, claims Trager, lies in developing multisector, integrated solutions to the challenges posed by population aging. While system-level efforts, such as building the social protection system and sustaining universal health coverage, continue to be led by the government, PPPs can play a major role in capacity building to ensure the sustainability of such systems through the advancement of technology, human resources, and innovation. Trager shared PPP Initiative Ltd.’s recent efforts to develop PPP solutions for aging populations in China and elsewhere. The workshop was held on October 10 at the Stanford GSB’s Highly Immersive Classroom, which is equipped with advanced video conferencing technology that allows participants in Palo Alto and at the Stanford Center at Peking University to collaborate in real-time. Experts from Beijing joined the discussion and followed Trager’s presentation with comments on how to move from awareness to action.
Private Efforts, Public Value
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From left to right: John Donahue, Karen Eggleston, Richard Zeckhauser. (Photo: Thom Holme)
Public-private collaborations—or rather collaborative governance–in China as well as in the United States is the subject of an upcoming volume co-authored by Eggleston with Harvard scholars Richard Zeckhauser and John Donahue. Both Zeckhauser and Donahue joined Eggleston the following day, October 11, at an AHPP-hosted seminar to discuss this upcoming publication, titled Private Roles for Public Goals in China and the United States: Contracting, Collaboration, and Delegation.
Eggleston, Donahue, and Zeckhauser define collaborative governance as private engagement in public tasks on terms of shared discretion, where each partner bears responsibilities for certain areas. Their upcoming book explores public-private collaborations in China and the United States, two countries where public needs require solutions that far outstrip the capacities of their governments alone. Beyond considering merely health and elderly care, the book features research into public and private roles in the governance of multiple other sectors, including education, transport infrastructure, affordable housing, social services, and civil society.
At the seminar, the three scholars reviewed different models of private efforts providing public value, outlined the justifications for collaborative governance, and explained some of the conditions that make such collaborative partnerships productive and valuable. They emphasized the need to account for the unique contexts in China and the United States and to steer clear of one-size-fits-all solutions.
Imperative for the Young Generation
One thing, they all agree, applies to both countries: government collaboration with private entities is inevitable if China and the United States are to achieve their articulated goals and meet rapidly increasing demand for high-end public services.
This sentiment echoed a claim Trager made the preceding day: a tidal wave of noncommunicable diseases in an aging world is approaching us quickly and governments cannot handle it alone. Young people must care about advancing creative solutions to this pressing problem because they will be the ones who will pay for the consequences if we get it wrong.
The Korea Program invites junior faculty, post-doctoral fellows, and graduate students to apply for travel awards to attend an upcoming two-day conference organized by the Korea Program at Stanford' Asia-Pacific Research Center. The workshop titled "Future Visions: Challanges and Possibilities of Korean Studies in North America" will be held on November 1st and 2nd, 2018 at Stanford University.
The awards will cover accepted applicants' lodging, domestic airfares, and/or ground transportation. To apply for the travel awards, please submit your CV and 2-page statement as a single file by July 15here.
About the conference:
“Future Visions: Challenges and Possibilities of Korean Studies in North America,” is designed to bring together leading scholars in the fields of language education, literature, history, social sciences, and library studies. Each panel will consist of three-four scholars who will be tasked with presenting a report on the state of the field. The purpose of the panels is to generate discussion around some of the following questions:
What are the research trends in each field?
What kinds of directions can we expect in the near future?
What are some of the disciplinary or other challenges in each field?
How does each field interact with related fields?
What are some of the limitations and possibilities around graduate student training?
How can faculty with graduate students cultivate supportive and critical scholarly communities?
How are junior faculty encouraged, and what institutional structures may offer better support?
Accepted applicants are expected to actively participate in discussion sessions and to engage in networking with other scholars during the 2-day conference.