Entrepreneurship is the primary factor in the growth of economies. endobj 0000011793 00000 n
The current, research follows this approach by exploring the role of entrepreneurship, in growth, after controlling for capital, labour and disembodied factor productivity, due to the effects of the three growth theories discussed above. Further, the results declared that the impact of DL is significant and positive in countries that have a high score of DL, but this impact is statistically negative in countries that have a low score of DL. 25 0 obj
/Type /JobTicketContents Entrepreneurial activities are considered the backbone of any economy and play a significant role in helping to create jobs and grow the economy, ... D. Valliere and R. Peterson recognized that entrepreneurship influences the development of regions through the efficient use of available resources, innovative activities, as well as growing competition. Wong, Ho, and Autio (2005) have prepared an extensive literature review outlining, the theoretical linkages between entrepreneurship and economic growth, as well as, empirical evidence linking new business creation and growth.
entrepreneurial contributions act through informal mechanisms.
2007). /JTM (Distiller) h�bbd``b`�$k@D"�`��n .H��D���e B�XH�|���Ƞd100C�g��` "�
The countries are divided into emerging and developed, groups based on per-capita GDP (at a breakpoint of US $20,000). Section 4 discusses the methodology used. 1994).
scale, foster FDI, and promote education (Wennekers, van Stel, and Thurik 2005). /MediaBox [0 0 612 792] This paper seeks to contribute to the literature in three ways. m�k���N�� presented at the international conference on entrepreneurship in emerging regions. 2005. solutions for governmental institutions. /Count 7 0000001924 00000 n
Policy-makers should also be aware that entrepreneurial history of, a region, and its existing infrastructure and knowledge levels, may determine the, effectiveness of a policy. The review of 102 publications reveals that the literature generally lacks research which (a) goes beyond the common measures of economic welfare, (b) examines the long-term impact of entrepreneurship and (c) focuses on emerging and developing countries. /CreationDate (D:20010516104845) Endogenous growth theory suggests that entrepreneurship is an important determinant of growth. /Rotate 0
This endogenous growth arises from local, investments in the creation of new knowledge on the part of profit-motivated, private agents. All coefficients, (an investment), were expected to be positive. endobj PDF | The present chapter deals with the consequences of entrepreneurship for macro-economic growth. /Parent 8 0 R A network-based approach on opportunity recognition. 0000006679 00000 n
For example, in Egypt there are at least 77 bureaucratic procedures and, 31 different agencies, taking 5 to 14 years to establish property ownership (De, As De Soto (1989) has pointed out, in many developing countries the lack of, well-developed property rights systems has led to informal ownership and, exploitation of land and goods.
<< 5–6, September–November 2009, 459–480, Entrepreneurship and economic growth: Evidence from emerging. These effects are characterized by long-term duration, which is why they are noticeable after a certain period of time. endobj /Annots [65 0 R 66 0 R] /Kids [7 0 R 8 0 R 9 0 R] /Title (Introduction)
/Contents 58 0 R /F5 42 0 R H�b```f``����� ,� �� �@Q��H3U����cHb,f6g͛�T3Zh�d���q% �L$�R��b�^W��DM����R!����H�pXj��Ķ.����nf2�e�""��K�:d�̟O���0 influence of entrepreneurship can vary between emerging and developed countries. Accordingly this component has been labelled the knowledge development, infrastructure (KD). An. and to mitigate multicollinearity; three components are thereby identified.
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