Identifying the Obstacles to High-Impact Entrepreneurship in Latin America and the Caribbean

Correa, Paulo Guilherme; Ács, Zoltán J.

doi:10.2139/ssrn.2534412

Cited by 11 publications

(14 citation statements)

References 24 publications

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“…The extent to which the financial system supports entrepreneurial activity in terms of providing resources to start and grow the business varies substantially across countries (Levie and Autio, 2008;Korosteleva and Mickiewicz, 2011;Chowdhury et al, 2015). In the context of emerging economies, the availability of financial resources is limited due to the lack of development in the financial institution (Aidis et al, 2008;Acs and Correa, 2014). In this regard, prior research suggested that higher levels of corruption and bribery adversely impact the development of a country's financial infrastructure (La Porta et al, 1999), and this uncertainty caused by corruption could generate distrust among entrepreneurs in the financial system, preventing its maturity (Aparicio et al, 2016).…”

Section: Control Of Corruption Access To Credit and Entrepreneurshipmentioning

confidence: 99%

The moderating effect of corruption on the relationship between formal institutions and entrepreneurial activity

Ghura¹,

Harraf²,

et al. 2019

JEEE

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Purpose Corruption has been shown to discourage entrepreneurship in both developed and developing countries. However, it is less clear to what extent corruption affects the development of institutions’ impact on entrepreneurial activity in the context of emerging economies, such as those in the post-communist countries. The purpose of this study is to use institutional economics as a conceptual framework to analyse the moderating effect of control of corruption (informal institution) on the relationship between formal institutions (such as the number of procedures, education and training [TEDU], access to finance and technology absorption) and entrepreneurial activity. Design/methodology/approach The study used panel data of 14 post-communist countries and different secondary databases from the years 2006-2016. Findings The main findings showed the importance of the institutional environment (formal and informal) on encouraging the rates of entrepreneurial activity. Overall, corruption showed that it behaves as a moderator between formal institutions and entrepreneurship. In particular, the evidence from this study showed that formal institutions, such as the number of procedures and TEDU, are more likely to encourage individual’s choice to become an entrepreneur and start a new business activity in post-communist economies that have a perception of lower levels of corruption. Originality/value This study has several implications from both theoretical perspectives (advancing the application of institutional economics for the study of entrepreneurship) and from the practical point of view (providing insights for governmental policies interested in fostering higher levels of entrepreneurial activity).

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Section: Control Of Corruption Access To Credit and Entrepreneurshipmentioning

confidence: 99%

The moderating effect of corruption on the relationship between formal institutions and entrepreneurial activity

Ghura¹,

Harraf²,

et al. 2019

JEEE

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“…The role of government is highly visible as it acts as a catalyst for the promotion of entrepreneurship and innovation through new financing programs, and through providing facilities and connectivity of the industry and the entrepreneurs. Acs and Correa (2014), developed a case-study based research of companies in Latin America and the Caribbean to identify the barriers to their development and creation of an entrepreneurial ecosystem system in the region. The regional entrepreneurial performance was evaluated based on the Global Entrepreneurship and Development Index (GEDI) as this index can measure the capacity of the region in terms of entrepreneurship as a part of the ecosystem (Acs and Correa).…”

Section: Business Incubation Sponsorsmentioning

confidence: 99%

“…The regional entrepreneurial performance was evaluated based on the Global Entrepreneurship and Development Index (GEDI) as this index can measure the capacity of the region in terms of entrepreneurship as a part of the ecosystem (Acs and Correa). Acs and Correa (2014), developed six main criteria to determine the success of highly entrepreneurial ventures in the region. These factors included access to finance, access to global markets, networking, product or service innovation, access to human capital and cultural support (Acs and Correa).…”

Section: Business Incubation Sponsorsmentioning

confidence: 99%

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The Entrepreneurial Ecosystem in the Caribbean

Meahjohn¹,

Tobago²

2020

jeb

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“…Development can be defined within social, environmental and social parameters; many high-impact entrepreneurs are achieving not only economic goals but are also combining those with social and environmental achievements. As noted by Schoar (2009 as cited in Acs and Correa, 2014, p. 1) high-growth entrepreneurship in a developing world context sees “companies grow far beyond the scope of an individual’s subsistence needs and generates a positive effect at the community level”. For this fundamental reason, encouraging high-impact entrepreneurship in the developing world takes on special resonance.…”

Section: High-impact Entrepreneurship In the Developing Worldmentioning

confidence: 99%

How can the entrepreneurship ecosystem in Guyana impact the tourism industry by 2025?

Connelly

2018

WHATT

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Purpose The purpose of this conceptual paper is to discuss the entrepreneurship ecosystem in Guyana with particular emphasis on the role of cultural support and its possible impact on the tourism industry in the country by 2025. Design/methodology/approach The paper is based on a literature review of entrepreneurship ecosystems, document analysis of key reports on Guyana and interviews with relevant authorities. Findings The paper observes that Guyana can focus entrepreneurial efforts on areas of natural comparative advantage, including nature-based tourism and agriculture. However, achieving high-impact entrepreneurship in developing world economies like Guyana requires a strategic approach that is process oriented and which addresses cultural impediments to entrepreneurship. Practical implications Encouraging wealth creation and addressing issues of poverty and inequality are but a few of the concerns governments grapple with. Guyana is no different to its geo-political counterparts who are pushing entrepreneurship as a viable means of addressing these concerns. Driven by factors such as setbacks experienced by those with a socialist agenda, the onset of globalisation, the removal of preferential agreements, the opening of trade routes and an emphasis on local economic development, much has been made of entrepreneurship as a panacea of development issues. Originality/value This paper seeks to contribute to a better understanding of entrepreneurship in a developing world context with particular significance for the tourism industry.

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Identifying the Obstacles to High-Impact Entrepreneurship in Latin America and the Caribbean

Cited by 11 publications

References 24 publications

The moderating effect of corruption on the relationship between formal institutions and entrepreneurial activity

The moderating effect of corruption on the relationship between formal institutions and entrepreneurial activity

The Entrepreneurial Ecosystem in the Caribbean

How can the entrepreneurship ecosystem in Guyana impact the tourism industry by 2025?

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