Drivers of Entrepreneurship: Linking With Economic Growth and Employment Generation (A Panel Data Analysis)

Abstract

The need for entrepreneurs for economic development has always been crucial in history because they are the leaders who invent innovative ideas that give spark to economic activities. They are responsible for the combination of factors of production by capital formation, creating employment opportunities, wealth distribution that facilitates development and growth. A well explained definition of entrepreneurship in the words of Wennekers and Thurik (1999) that successfully makes the functional roles of entrepreneurs is: “…the manifest ability and willingness of individuals, on their own, in teams within and outside existing organisations, to perceive and create new economic opportunities (new products, new production methods, new organisational schemes and new product-market combinations) and to introduce their ideas in the market, in the face of uncertainty and other obstacles, by making decisions on location, form and the use of resources and institutions.” (46–47) High and sustained economic growth is the fundamental objective of every developed or developing country’s governmental policy. Economic growth is a long term expansion of the productive potential of the economy. It generates employment in the economy and raises the living standards of the nation. Economic growth promotes business activities in private sector, increases company profits and enhances investor confidence.

Socio-economic causals for entrepreneurial transformation

“…Results also show that institutional quality/governance restricts opportunity-driven entrepreneurship, which opposes the study (Rasool et al, 2012). But Arshed et al (2022a) and Ho and Wang (2007) had shown that better institutions also increase the regulatory compliance cost to the new businesses and innovators.…”

“…Higher education increases the capacity of entrepreneurs to take decisions confidently in a period of uncertainty (Martinez et al, 2010;Jimenez et al, 2015). Rasool et al (2012) used data from 8 Asian countries from 2005 to 2011. They affirmed that higher education leads to improvement-driven entrepreneurship and necessity-driven entrepreneurship.…”

Lock-In Effects on the Energy Sector: Evidence from Hydrogen Patenting Activities

“…What is not certain, though, is whether these policies should disband fossil fuel installations. Recent policies at European and international levels have brought the spotlight on energy transition, but in reality, it represents only a small part of the entire energy system: the share of electricity in the final consumption of energy from RES is only 20% [55]. Most of the investments so far have been addressed to photovoltaic and eolic power generation, which were not able to eradicate fossil fuel production due to scarcity of energy efficiency capacity in power supply.…”

Kwantyfikacja przedsiębiorczości kraju z wykorzystaniem narzędzi taksonomii relatywnej: przykład państw Unii Europejskiej

“…Inicjatywa GEM przyczyniła się do prowadzenia badań związków i zależności pomiędzy przedsiębiorczością a różnymi ważnymi aspektami gospodarczymi. Zdaniem autorów zdynamizowało to zwłaszcza prowadzenie badań nad korelacją przedsiębiorczości kraju z rozwojem gospodarczym i dobrobytem (Amorós & Cristi, 2011;Rasool, Gulzar, & Naseer, 2012;Wong, Ho, & Autio, 2005).…”