Entrepreneurial Framework Conditions and Economic Growth: Insights from Middle-Income Economies

Authors

DOI:

https://doi.org/10.7251/ACE2440055M

Keywords:

entrepreneurship, economic growth, entrepreneurial framework conditions, middle-income economies, correlation analysis, fixed effects model

Abstract

This article implements correlation analysis and a fixed effects model to assess the influence of entrepreneurial framework conditions (EFCs) on economic growth in middle-income countries. The implemented panel data set for EFCs is unearthed from the Global Entrepreneurship Monitor website and that for gross domestic product (GDP) per capita, a surrogate for economic growth, is extracted from the World Bank website over the observation period 2001 – 2021. We have discovered that there are statistically significant positive correlations between GDP per capita and ‘entrepreneurial finance’ and ‘post-school entrepreneurial education and training’, and statistically significant negative correlations between GDP per capita and ‘taxes and bureaucracy’, ‘internal market openness’, and ‘physical and service infrastructure’. Moreover, we have exposed that EFCs positively and significantly impact economic growth in middle-income countries. This article contributes to the discourse on the connection between economic growth and conditions for entrepreneurship in middle-income economies. As a recommendation, policymakers should consider EFCs when developing policies to kindle economic growth in middle-income economies. Further, the study results could assist policymakers in selecting and applying suitable measures to eradicate the impediments in the businesses where entrepreneurs operate.

References

Acs, Z., & Amoros. J. E. (2008). Entrepreneurship and competitiveness dynamics in Latin America. Small Business Economics, 31, 305-322. https://doi.org/10.1007/s11187-008-9133-y.

Acs, Z. J., & Szerb, L. (2010). Global entrepreneurship and the United States. DTIC Document.

Acs, Z. J., Autio, E., & Szerb, L. (2014). National systems of entrepreneurship: measurement issues and policy implications. Research Policy, 43, 476-494. https://doi.org/10.1016/j.respol.2013.08.016.

Ács Z. J., Desai, S., & Hessels, J. (2008). Entrepreneurship, economic development and institutions. Small Business Economics, 31(3), 219-234. https://doi.org/10.1007/s11187-008-9135-9.

Acs, Z., Estrin, S., Mickiewicz, T., & Szerb, L. (2018). Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective. Small Business Economics, 51, 501-14. https://doi.org/10.1007/s11187-018-0013-9.

Acs, Z. J., Stam, E., Audretsch, D. B., & O’Connor, A. (2017). The lineages of the entrepreneurial ecosystem approach. Small Business Economics, 49, 1–10. https://doi.org/10.1007/s11187-017-9864-8.

Adusei, M., 2016. Does entrepreneurship promote economic growth in Africa? African Development Review, 28(2), 201-214. https://doi.org/10.1111/1467-8268.12190.

Ajose, K., & Oyedokun, G. E. (2018). Capital formation and economic growth in Nigeria. Accounting and taxation review, 2(2), 131-142. http://hdl.handle.net/11159/4394.

Alaassar, A., Mention, A.-L., & Aas, T. H. (2022). Ecosystem dynamics: exploring the interplay within fintech entrepreneurial ecosystems. Small Business Economics, 58(4), 2157-2182. https://doi.org/10.1007/s11187-021-00505-5.

Amorós, J. E., & Bosma, N. (2014). Global entrepreneurship monitor 2013 global report: Fifteen years of assessing entrepreneurship across the globe. https://www.gemconsortium.org/file/open?fileId=48772.

Amoros, J. E., Felzensztein, C., & Gimmon, E. (2013). Entrepreneurial opportunities in peripheral versus core regions in Chile. Small Business Economics, 40, 119-139. https://doi.org/10.1007/s11187-011-9349-0.

Anokhin, S., & Schulze, W. S. (2009). Entrepreneurship, innovation, and corruption. Journal of Business Venturing, 24, 465-476. https://doi.org/10.1016/j.jbusvent.2008.06.001.

Aparicio S, Urbano, D., & Audretsch, D. (2016). Institutional factors, opportunity entrepreneurship and economic growth: panel data evidence. Technological Forecasting and Social Change, 102, 45–61. https://doi.org/10.1016/j.techfore.2015.04.006.

Aralica, Z., Svilokos, T., & Bacic, K. (2018). Institutions and firms’ performance in transition countries: the case of selected CESEE countries. South East European Journal of Economics and Business, 13, 68–80. https://doi.org/10.2478/jeb-2018-0005.

Aslan, A., & Altinoz, B. (2021). The impact of natural resources and gross capital formation on economic growth in the context of globalization: evidence from developing countries on the continent of Europe, Asia, Africa, and America. Environmental Science and Pollution Research, 28, 33794-33805. https://doi.org/10.1007/s11356-021-12979-7.

Audretsch, D. B., Cunningham, J. A., Kuratko, D. F., Lehmann, E. E., & Menter, M. (2019). Entrepreneurial ecosystems: economic, technological, and societal impacts. The Journal of technology transfer, 44, 313-325. https://doi.org/10.1007/s10961-018-9690-4.

Audretsch, D. B., & Lehmann, E. E. (2005). Does the knowledge spillover theory of entrepreneurship hold for regions? Research Policy, 34(8), 1191-1202. https://doi.org/10.1016/j.respol.2005.03.012.

Baliamoune-Lutz, M. (2015). Taxes and entrepreneurship in OECD countries. Contemporary Economic Policy, 33(2), 369-380. https://doi.org/10.1111/coep.12079.

Bakar, R., Islam, M. A., & Lee, J. (2015). Entrepreneurship education: experiences in selected countries. International Education Studies, 8(1), 88–99. http://dx.doi.org/10.5539/ies.v8n1p88.

Bosma, N., Content, J., Sanders, M., & Stam, E. (2018). Institutions, entrepreneurship, and economic growth in Europe. Small Business Economics, 51, 483-499. https://doi.org/10.1007/s11187-018-0012-x.

Bosma, N. S., Jones, K., Autio, E., & Levie, J. (2008). Global entrepreneurship monitor 2007 executive report. Global Entrepreneurship Research Association.

Brown, J. D., & Earle, J. S. (2017). Finance and growth at the firm level: evidence from SBA loans. Journal of Finance, 72(3), 1039-1080. https://doi.org/10.1111/jofi.12492.

Bruton, G. D., Ahlstrom, D., & Obloj, K. (2008). Entrepreneurship in emerging economies: Where are we today and where should the research go in the future. Entrepreneurship theory and practice, 32(1), 1-14. https://doi.org/10.1111/j.1540-6520.2007.0021.

Candiya Bongomin, G. O., Munene, J. C., Ntayi, J. M., & Malinga, C. A. (2018). Determinants of SMMEs growth in post-war communities in developing countries: testing the interaction effect of government support. World journal of entrepreneurship, management and sustainable development, 14(1), 50-73. https://doi.org/10.1108/WJEMSD-06-2017-0026.

Cao, Z., & Shi, X. (2021). A systematic literature review of entrepreneurial ecosystems in advanced and emerging economies. Small Business Economics, 57(1), 75–110. https://doi.org/10.1007/s11187-020-00326-y.

Carree, M. A., & Thurik, A. R. (2007). The lag structure of the impact of business ownership on economic performance in OECD countries. Small Business Economics, 30(1), 101–110. https://doi.org/10.1007/s11187-006-9007-0.

Cheng, H., Hu, D., Xu, C., Zhang, K., & Fan, H. (2017). Does government paternalistic care promote entrepreneurship in China? Evidence from the China employer-employee survey. China Economic Journal, 10 (1), 61-75. https://doi.org/10.1080/17538963.2016.1274004.

Chhabra, M., Hassan, R., Shah, M. A., & Sharma, R. (2023). A bibliometric review of research on entrepreneurial capacity for the period 1979 to 2022: Current status, development, and future research directions. Cogent Business and Management, 10(1), 2178338. https://doi.org/10.1080/23311975.2023.2178338.

Chikh-Amnache, S., & Mekhzoumi, L. (2023). The impact of female entrepreneurship on economic growth in the Asean countries: a panel MM-QR approach. Economics and Business, 37(1), 37-49. https://doi.org/10.2478/eb-2023-0003.

Chowdhury, F., Audretsch, D. B., and Belitski, M. (2019). Institutions and entrepreneurship quality. Entrepreneurship Theory and Practice, 43(1), 51–81. https://doi.org/:10.1177/1042258718780431.

Crowley, F., & McCann, P. (2018). Firm innovation and productivity in Europe: evidence from innovation-driven and transition-driven economies. Applied Economics, 50, 1203–21. https://doi.org/10.1080/00036846.2017.1355543.

De Vasconcelos Gomes, L. A., Facin, A. L. F., Salerno, M. S., & Ikenami, R. K. (2018). Unpacking the innovation ecosystem construct: Evolution, gaps and trends. Technological Forecasting and Social Change, 136, 30-48. https://doi.org/10.1016/j.techfore.2016.11.009.

Domanska, A., & Zajkowski, R. (2018). Influence of state participation on business conditions and entrepreneurship in the EU countries of the former eastern bloc. e-Finance 14, 9-17. https://doi.org/10.2478/fiqf-2018-0008.

Doran, J., McCarthy, N., & O’Connor, M. (2018). The role of entrepreneurship in stimulating economic growth in developed and developing countries. Cogent Economics & Finance, 6(1), 1442093. https://doi.org/10.1080/23322039.2018.1442093.

Dutta, N., & Meierrieks, D. (2021). Financial development and entrepreneurship. International Review of Economics & Finance, 73, 114-126. https://doi.org/10.1016/j.iref.2021.01.002.

Dvoulety, O., Gordievskaya, A., & Prochazka, D. A. (2018). Investigating the relationship between entrepreneurship and regional development: the case of developing countries. Journal of Global Entrepreneurship Research, 8, 16. https://doi.org/10.1186/s40497-018-0103-9.

Estrin, S., & Mickiewicz, T. (2010). Entrepreneurship in transition economies: the role of institutions and generational change. Institute for the Study of Labor Working Paper N°4805.

Ewubare, D. B., & Ogbuagu, A. R. (2015). Capital accumulation and economic growth in Nigeria “endogenous growth approach”. IOSR Journal of Economics and Finance, 6(6), 49-64. https://doi.org/10.9790/5933-06614964.

Farinha, L., Ferreira, J., & Nunes, S. (2018). Linking innovation and entrepreneurship to economic growth. Competitiveness Review, 28, 451-475. https://doi.org/10.1108/CR-07-2016-0045.

Farinha, L., Lopes, J., Bagchi-Sen, S., Sebastiao, J. R., & Oliveira. J. (2020). Entrepreneurial dynamics and government policies to boost entrepreneurship performance. Socio-Economic Planning Sciences, 72, 100950. https://doi.org/10.1016/j.seps.2020.100950.

Ferreira, J. J., Fayolle, A., Fernandes, C., & Raposo, M. (2017). Effects of Schumpeterian and Kirznerian entrepreneurship on economic growth: Panel data evidence. Entrepreneurship and Regional Development, 29(1-2), 27–50. https://doi.org/10.1080/08985626.2016.1255431.

Fuentelsaz, L., González, C., Maícas, J. P., & Montero, J. (2015). How different formal institutions affect opportunity and necessity entrepreneurship. BRQ Business Research Quarterly, 18(4), 246-258. https://doi.org/10.1016/j.brq.2015.02.001.

GEM. (2023). Global Entrepreneurship Monitor. https://www.gemconsortium.org/data.

Gaba, A. K., & Gaba, N. (2022). Entrepreneurial activity and economic growth of BRICS countries: Retrospect and prospects. The Journal of Entrepreneurship, 31(2), 402-424. https://doi.org/10.1177/09713557221097160.

Galindo, M. A., & Mendez, M. T. (2014). Entrepreneurship, economic growth, and innovation: Are feedback effects at work? Journal of Business Research, 67(5), 825–829. https://doi.org/10.1016/j.jbusres.2013.11.052.

Gomes, S., & Ferreira, P. (2022). Entrepreneurial activity and economic growth: a dynamic data panel analysis of European countries. Entrepreneurial Business and Economics Review, 10(2), 7–20. https://doi.org/10.15678/EBER.2022.100201.

Gomes, S., Ferreira, J. J., & Lopes, J. M. (2023). Entrepreneurial conditions and economic growth in entrepreneurial ecosystems: Evidence from OECD countries. The International Journal of Entrepreneurship and Innovation, 146575032311563. https://doi.org/10.1177/14657503231156340.

Gomes, S., Ferreira, J., Lopes, J. M., & Farinha, L (2022). The impacts of the entrepreneurial conditions on economic growth: evidence from OECD countries. Economies, 10, 163. https://doi.org/10.3390/economies10070163.

Gries, T., & Naude, W. (2010). Entrepreneurship and structural economic transformation. Small Business Economics, 34(1), 13-29. https://doi.org/10.1007/s11187-009-9192-8.

Gu, W., Wang, J., Hua, X., & Liu, Z. (2021). Entrepreneurship and high-quality economic development: Based on the triple bottom line of sustainable development. International Entrepreneurship and Management Journal, 17(1), 1-27. https://doi.org/10.1007/s11365-020-00684-9.

Guerrero, M., Liñán, F., and Cáceres-Carrasco, F. R. (2021). The influence of ecosystems on the entrepreneurship process: A comparison across developed and developing economies. Small Business Economics, 57(4), 1733-1759. https://doi.org/10.1007/s11187-020-00392-2.

Hamdan, A., Ghura, H., Alareeni, B., & Hamdan, R. K. (2022). Entrepreneurship growth in emerging economies: New insights and approaches. Journal of Sustainable Finance & Investment, 12(1), 1-12. https://doi.org/10.1080/20430795.2021.1944750.

Hechavarría, D. M., & Ingram, A. E. (2019). Entrepreneurial ecosystem conditions and gendered national-level entrepreneurial activity: a 14-year panel study of GEM. Small Business Economics, 53, 431-458. https://doi.org/10.1007/s11187-018-9994-7.

Hjazeen, H., Seraj, M., & Ozdeser, H. (2021). The nexus between the economic growth and unemployment in Jordan. Future Business Journal, 7(1), 1-8. https://doi.org/10.1186/s43093-021-00088-3.

International Monetary Fund. (2022). World Economic Outlook: countering the cost-of-living crisis. Washington, DC.

Isaacs, E., Visser, K., Friedrich, C., & Brijlal, P. (2007). Entrepreneurship education and training at the Further Education and Training (FET) level in South Africa. South African Journal of Education, 27(4), 613-629. https://hdl.handle.net/10520/EJC32145.

Ivanović-Djukić, M., Lepojević, V., Stefanović, S., van Stel, A., & Petrović, J. (2018). Contribution of entrepreneurship to economic growth: a comparative analysis of South-East transition and developed European countries. International Review of Entrepreneurship, 16(2), 257-276.

Keuschnigg, C., & Nielsen, S. B. (2004). Start-ups, venture capitalists, and the capital gains tax. Journal of Public Economics, 88(5), 1011-1042. https://doi.org/10.1016/S0047-2727(03)00046-X.

Kaiser, H. F. (1970). A second-generation little jiffy. Psychometrika, 35(4), 401-415. https://doi.org/10.1007/BF02291817.

Kim, K., Jung, J.-K., & Choi, J. Y. (2016). Impact of the smart city industry on the Korean national economy: input-output analysis. Sustainability, 8, 649. https://doi.org/10.3390/su8070649.

Kim, J., Castillejos-Petalcorin, C., Park, D., Jinjarak, Y., Quising, P., & Tian, S. (2022). Entrepreneurship and economic growth: a cross-section empirical analysis. ADB Background Paper.

Khyareh, M. M. (2023). Entrepreneurship and economic growth: the moderating role of governance quality. FIIB Business Review. https://doi.org/10.1177/23197145231154767.

Khyareh, M. M., & Amini, H. (2021). Governance Quality, Entrepreneurship and Economic Growth. Journal of Competitiveness, 13(2), 41-64. https://doi.org/10.7441/joc.2021.02.03.

Khyareh, M. M., Khairandish, M., & Torabi, H. (2019). Macroeconomic effects of entrepreneurship: evidences from factor, efficiency and innovation driven countries. International Journal of Entrepreneurship, 23, 1-21.

Kumar, G., & Borbora, S. (2016). Facilitation of entrepreneurship: the role of institutions and the institutional environment. South Asian Journal of Management, 23(3), 57.

Levie, J., & Autio, E. (2008). A theoretical grounding and test of the GEM model. Small Business Economics, 31(3), 235-263. https://doi.org/10.1007/s11187-008-9136-8.

Liu, Y., Luan, L., Wu, W., Zhang, Z., & Hsu, Y. (2021). Can digital financial inclusion promote China’s economic growth?. International Review of Financial Analysis, 78, 101889. https://doi.org/10.1016/j.irfa.2021.101889.

Lopes, J., & Franco, M. (2019). Review about regional development networks: An ecosystem model proposal. Journal of the Knowledge Economy, 10(1), 275-297. https://doi.org/10.1007/s13132-017-0464-2.

Lopes, J., Antunes, H. & Rodrigues, R. (2018). Comparative entrepreneurship between Western Europe and Latin America. Entrepreneurship Research Journal, 8, 1-20. https://doi.org/10.1515/erj-2017-0058.

Lopes, J., Oliveira, M., Silveira, P., Farinha, L., & Oliveira, J. (2021a). Business dynamism and innovation capacity, an entrepreneurship worldwide perspective. Journal of Open Innovation: Technology, Market, and Complexity, 7, 94. https://doi.org/10.3390/joitmc7010094.

Lopes, J. M., Gomes, S., Oliveira, J., & Oliveira, M., (2021b). The role of open innovation and the performance of European Union regions. Journal of Open Innovation: Technology, Market, and Complexity, 7, 120. https://doi.org/10.3390/joitmc7020120.

Lux, A. A., Macau, F. R., & Brown, K. A. (2020). Putting the entrepreneur back into entrepreneurial ecosystems. International Journal of Entrepreneurial Behaviour and Research, 26(5), 1011–1041. https://doi.org/10.1108/IJEBR-01-2020-0031.

Magnani, G., and Zucchella, A. (2018). Uncertainty in entrepreneurship and management studies: a systematic literature review. International Journal of Business and Management, 13(3), 98. https://doi.org/10.5539/ijbm.v13n3p98.

Malecki, E. J. (2018). Entrepreneurship and entrepreneurial ecosystems. Geography Compass, 12(3), e12359. https://doi.org/10.1111/gec3.12359.

Martinez-Fierro, S., Biedma-Ferrer, J. M., & Biedma-Ferrer, J. M. (2015). Entrepreneurial framework conditions and economic development: an analysis of GEM countries. Revista de Economía Mundial, 181-212.

Matenda, F. R., & Sibanda, M. (2023a). The influence of entrepreneurship on economic growth in BRICS economies. Economic Research-Ekonomska Istraživanja, 36, 3. https://doi.org/10.1080/1331677X.2023.2275582.

Matenda, F. R., & Sibanda, M. (2023). The effect of entrepreneurship on South Africa’s economic growth through entrepreneurial attitudes and behavior and entrepreneurial framework conditions (EFCs). Interdisciplinary Journal of Economics and Business Law, 12(2), 40-64.

Matenda, F. R., & Sibanda, M. (2022). The influence of entrepreneurial framework conditions (EFCs) on economic growth in South Africa. Interdisciplinary Journal of Economics and Business Law, 11(4), 57-74.

Méndez-Picazo, M., Galindo-Martín, M., & Ribeiro-Soriano, D. (2012). Governance, entrepreneurship and economic growth. Entrepreneurship and Regional Development, 24(9/10), 865-877. https://doi.org/10.1080/08985626.2012.742323.

McMullen, J. S., Bagby, D., & Palich, L. E. (2008). Economic freedom and the motivation to engage in entrepreneurial action. Entrepreneurship Theory and Practice, 32(5), 875-895. https://doi.org/10.1111/j.1540-6520.2008.00260.x.

Mullins, J. W., & Forlani, D. (2005). Missing the boat or sinking the boat: A study of new venture decision making. Journal of Business Venturing, 20(1), 47-69. https://doi.org/10.1016/j.jbusvent.2003.08.001.

Munyo, I., & Veiga, L. (2022). Entrepreneurship and economic growth. Journal of the Knowledge Economy, 1–18. https://doi.org/10.1007/s13132-022-01032-8.

Naudé, W. (2013). Entrepreneurship and economic development: theory, evidence and policy. IZA Discussion Paper, 7507, Bonn, IZA. http://dx.doi.org/10.2139/ssrn.2314802.

Naudé, W. (2011). Entrepreneurship is not a binding constraint on growth and development in the poorest countries. World Development, 39(1), 33-44. https://doi.org/10.1016/j.worlddev.2010.05.005.

Nwagu, N. B., & Enofe, E. E. (2021). The impact of entrepreneurship on the economic growth of an economy: an overview. Journal of Emerging Trends in Economics and Management Sciences, 12(4), 143-149.

Onyinye N. G., Idenyi O. S, & Ifeyinwa A. C. (2017). Effect of capital formation on economic growth in Nigeria. Asian Journal of Economics, Business and Accounting, 5(1), 1-16. https://doi.org/10.9734/AJEBA/2017/36075.

Peprah, A. A., & Adekoya, A. F. (2020). Entrepreneurship and economic growth in developing countries: evidence from Africa. Business Strategy and Development, 3(3), 388-394. https://doi.org/10.1002/bsd2.104.

Pickernell, D., Senyard, J., Jones, P., Packham, G., & Ramsey, R. (2013). New and young firms: entrepreneurship policy and the role of government - evidence from the Federation of Small Businesses survey. Journal of Small Business and Enterprise Development, 20 (2), 358-382. https://doi.org/10.1108/14626001311326770.

Pita, M., Costa, J., & Moreira, A. C. (2021). Unveiling entrepreneurial ecosystems’ transformation: a GEM based portrait. Economies, 9(4), 186. https://doi.org/10.3390/economies9040186.

Pita, M., Costa, J., & Moreira, A. C. (2021a). Entrepreneurial ecosystems and entrepreneurial initiative: Building a multi-country taxonomy. Sustainability, 13(7), 4065. https://doi.org/10.3390/su13074065.

Raoofi, A., Afghah, M., & Hoshyar, S. (2014). A study on the effect of entrepreneurship on economic growth. In 1st International congress Jean-Baptiste say Summer School research network on innovation, París, Francia. Recuperado el (Vol. 2).

Reynolds, P., Bygrave, W. D., & Autio, E. (2003). Global Entrepreneurship Monitor 2003 Executive Report: Babson College. Ewing Marion Kauffman Foundation: London Business School.

Rijal, S., Idrus, M. I., & Ahmad, M. I. S. (2023). Public sector development strategy as a driver of economic growth: an endogenous growth theory perspective. Student Research Journal, 1(3), 411-420. https://doi.org/10.55606/srjyappi.v1i3.427.

Roundy, P. T. (2017). “Small town” entrepreneurial ecosystems: implications for developed and emerging economies. Journal of Entrepreneurship in Emerging Economies, 9, 238-262. https://doi.org/10.1108/JEEE-09-2016-0040.

Roundy, P. T., & Lyons, T. S. (2023). Where are the entrepreneurs? A call to theorize the micro-foundations and strategic organization of entrepreneurial ecosystems. Strategic Organization, 21(2), 447-459. https://doi.org/10.1177/14761270211056240.

Sabella, A. R., Farraj, W. A., Burbar, M., & Qaimary, D. (2014). Entrepreneurship and economic growth in West Bank, Palestine. Journal of Developmental Entrepreneurship, 19(01), 1450003. https://doi.org/10.1142/S1084946714500034.

Saberi, M., & Hamdan, A. (2019). The moderating role of governmental support in the relationship between entrepreneurship and economic growth. Journal of Entrepreneurship in Emerging Economies, 11(2), 200-216. https://doi.org/10.1108/JEEE-10-2017-0072.

Salgado-Banda, H. (2005). Entrepreneurship and economic growth: An empirical analysis. DEGIT Conference Papers. Dirección General de Investigación Económica. Banco de México.

Sagar, G., Anand, B., Varalaxmi, P., Singh, A., & Raj, S. (2023). The role of entrepreneurship in economic growth and development. Journal of Survey in Fisheries Sciences, 10(1S), 5940–5955.

Sautet, F. (2013). Local and systemic entrepreneurship: Solving the puzzle of entrepreneurship and economic development. Entrepreneurship Theory and Practice, 37(2), 387–402. https://doi.org/10.1111/j.1540-6520.2011.00469.x.

Savrul, M. (2017). The impact of entrepreneurship on economic growth: GEM data analysis. Journal of Management, Marketing and Logistics, 4(3), 320-326. https://doi.org/10.17261/Pressacademia.2017.494.

Sendra-Pons, P., Comeig, I., & Mas-Tur, A. (2022). Institutional factors affecting entrepreneurship: a QCA analysis. European Research on Management and Business Economics, 28(3), 100187. https://doi.org/10.1016/j.iedeen.2021.100187.

Srholec, M. (2010). A multilevel approach to geography of innovation. Regional Studies, 44, 1207–1220. https://doi.org/10.1080/00343400903365094.

Schumpeter, J. A. (1911). The theory of economic development. Harvard University Press.

Shaikh, E., Tunio, M. N., & Qureshi, F. (2021). Finance and women’s entrepreneurship in DETEs: a literature review. In Ngo, V. D., Duc Nguyen, D. K., and Nguyen, N. T. (Eds.), Entrepreneurial Finance, Innovation and Development: A Research Companion (1st Ed.) (pp. 191-209). Routledge. https://doi.org/10.4324/9781003134282.

Sitaridis, I., & Kitsios, F. (2020). Competitiveness analysis and evaluation of entrepreneurial ecosystems: a multi-criteria approach. Annals of Operations Research, 294(1), 377-399. https://doi.org/10.1007/s10479-019-03404-x.

Solow, R. M. (1999). Neoclassical growth theory. Handbook of Macroeconomics, 1, 637–667. https://doi.org/10.1016/S1574-0048(99)01012-5.

Stam, E. (2015). Entrepreneurial ecosystems and regional policy: a sympathetic critique. European Planning Studies, 23(9), 1759-1769. https://doi.org/10.1080/09654313.2015.1061484.

Stam, F. C., and Spigel, B (2016). Entrepreneurial ecosystems. Working Papers 16-13, Utrecht School of Economics.

Stam, E., & Van Stel, A. (2011). Types of entrepreneurship and economic growth. In Entrepreneurship, Innovation, and Economic Development. Edited by Adam Szirmai,Wim Naudé and Micheline Goedhuys. New York: Oxford University Press, pp. 78-95.

Stam, E., & Van Stel, A. (2009). Types of entrepreneurship and economic growth. Working Paper Series, UNU-WIDER, Maastricht, Netherlands.

Stefanescu, D. (2012). Entrepreneurship in international perspective. Procedia Economics and Finance, 3, 193-198. https://doi.org/10.1016/S2212-5671(12)00139-6.

Steigertahl, L., & Mauer, R. (2023). Investigating the success factors of the Nordic entrepreneurial ecosystem–talent transformation as a key process. The International Journal of Entrepreneurship and Innovation, 24(1), 7-18. https://doi.org/10.1177/14657503211051217.

Stenholm, P., Acs, Z. J., & Wuebker, R. (2013). Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity. Journal of Business Venturing, 28(1), 176–193. https://doi.org/10.4337/9781784718053.00030.

Stern, L. (2010). A visual approach to SPSS for Windows: A Guide to SPSS17.0, 2nd ed., Allyn and Bacon, Boston, MA.

Sternberg, R., & Wennekers, S. (2005). Determinants and effects of new business creation using global entrepreneurship monitor data. Small Business Economics, 24(3), 193-203. https://doi.org/10.1007/s11187-005-1974-z.

Stoica, O., Roman, A., & Rusu, V. D. (2020). The nexus between entrepreneurship and economic growth: a comparative analysis on groups of countries. Sustainability, 12, 1186. https://doi.org/10.3390/su12031186.

Tahir, M., & Burki, U. (2023). Entrepreneurship and economic growth: Evidence from the emerging BRICS economies. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 100088. https://doi.org/10.1016/j.joitmc.2023.100088.

Xie, Z., Wang, X., Xie, L., & Duan, K. (2021). Entrepreneurial ecosystem and the quality and quantity of regional entrepreneurship: a configurational approach. Journal of Business Research, 128, 499-509. https://doi.org/10.1016/j.jbusres.2021.02.015.

Urbano, D., & Aparicio, S. (2016). Entrepreneurship capital types and economic growth: International evidence. Technological Forecasting and Social Change, 102(C), 34-44. https://doi.org/10.1016/j.techfore.2015.02.018.

Valliere, D., & Peterson, R. (2009). Entrepreneurship and economic growth: evidence from emerging and developed countries. Entrepreneurship & Regional Development, 21(5-6), 459-80. https://doi.org/10.1080/08985620802332723.

Van Stel, A., Carree, M., & Thurik, R. (2005). The effect of entrepreneurial activity on national economic growth. Small Business Economics, 23, 311-321. https://doi.org/10.1007/s11187-005-1996-6.

Vatavu, S., Dogaru, M., Moldovan, N.-C., & Lobont, O. R. (2021). The impact of entrepreneurship on economic development through government policies and citizens’ attitudes. Economic Research-Ekonomska Istrazivanja, 35(1), 1604-1617. https://doi.org/10.1080/1331677X.2021.1985566.

Walsh, J., & Winsor, B. (2019). Socio-cultural barriers to developing a regional entrepreneurial ecosystem. Journal of Enterprising Communities: People and Places in the Global Economy, 13(3), 263-282. https://doi.org/10.1108/JEC-11-2018-0088.

Wang, L., & Shao, J. (2023). Digital economy, entrepreneurship and energy efficiency. Energy, 269, 126801. https://doi.org/10.1016/j.energy.2023.126801.

Wennekers, S., & Thurik, R. (1999). Linking entrepreneurship and economic growth. Small Business Economics, 13, 27–55. https://doi.org/10.1023/A:1008063200484.

Wong, P. K., Ho, Y. P., & Autio, E. (2005). Entrepreneurship, innovation and economic growth: Evidence from GEM data. Small Business Economics, 24(3), 335–350. https://doi.org/10.1007/s11187-005-2000-1.

World Bank (2023). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators.

Yan, Y., & Guan, J. (2019). Entrepreneurial ecosystem, entrepreneurial rate and innovation: the moderating role of internet attention. International Entrepreneurship and Management Journal, 15(2), 625-650. https://doi.org/10.1007/s11365-018-0493-8.

Xu, B., Yu, H., & Li, L. (2021). The impact of entrepreneurship on regional economic growth: a perspective of spatial heterogeneity. Entrepreneurship and Regional Development, 33, 309-331. https://doi.org/10.1080/08985626.2021.1872940.

Zaki, I. M., & Rashid, N. H. (2016). Entrepreneurship impact on economic growth in emerging countries. The Business and Management Review, 7(2), 31-39.

Downloads

Published

2024-07-02

Issue

Section

Review Scientific Paper

How to Cite

Entrepreneurial Framework Conditions and Economic Growth: Insights from Middle-Income Economies. (2024). Acta Economica, 22(40), 55-96. https://doi.org/10.7251/ACE2440055M

Similar Articles

1-10 of 367

You may also start an advanced similarity search for this article.

Most read articles by the same author(s)

1 2 3 4 5 6 7 8 9 10 > >>