The Impacts of the Entrepreneurial Conditions on Economic Growth: Evidence from OECD Countries

Abstract

This study aims to assess the impacts of entrepreneurial framework conditions on economic growth based on the level of economic development in transition-driven economies and innovation-driven economies. The data were organised into a panel (2000–2019) and obtained from the National Expert Survey (NES), the Global Monitor Entrepreneurship (GEM), and the World Bank. By applying the generalised method of moments (GMM) estimation, we found that R&D transfer has a negative impact on economic growth that is innovation-driven, but positively impacts transition-driven economies. The results further highlighted that regardless of the level of development of the country, business and professional infrastructure do not positively impact economic growth. However, taxes and bureaucracy and physical and service infrastructure were shown to positively impact only innovation-driven economies, as in transition-driven economies, they were shown to have negative impacts on economic growth. The present study contributes to a better understanding of the link between economic growth and the conditions for entrepreneurship in economies with different degrees of economic growth. This study can serve as a basis for policy makers to adjust or develop new policies to accelerate economic growth.

The level of implementing sustainable development goal "Industry, innovation and infrastructure" of Agenda 2030 in the European Union countries: Application of MCDM methods

“…Nowadays, industrial development, its modernization as well as sustainable development are considered solutions to ensure the dynamic development of society as a whole (Gomes et al, 2022;Verdugo & Wright, 2020). Therefore, it can be said that technological innovation, science, investment in infrastructure are the basis for achieving sustainable industrial development.…”

Assessment of the Impact of Active Entrepreneurial Activity on the Level of Economic Well-Being of the Country

“…Крім того, підприємці комерціалізують інновації і, отже, виводять на ринок нові та вдосконалені продукти та послуги. Це може мати трансформаційний вплив на економічні та соціальні умови, можливо, на краще [5]. Незважаючи на очевидну важливість підприємництва для національних економік, все ще існує потреба у розумінні впливу підприємницької діяльності на суб'єктивне благополуччя націй.…”

Comparative Machine Learning Models for Predicting Loan Fructification in a Semi-Urban Area

“…The authentic foundations of entrepreneurship derive from the economic sciences, whose functional approaches focus a priori on the effects of entrepreneurship and the role of the entrepreneur in the development of the economic system, aiming to understand the personality traits, behavior, origins, motivation and trajectory of the entrepreneur from a social point of view (Gomes et al, 2022). Entrepreneurship is also the ability of starting up and developing an activity that gives life to a project, of which the individual him/herself is the initiator.…”

“…As a result, some of the loan received by entrepreneurs does not bear fruit. Many researchers in the existing literature have tried to predict whether or not a person can be granted loan based on certain criteria and characteristics of the person using machine learning (ML) (Guan et al, 2023;Noriega et al, 2023;. Unfortunately, the literature review revealed that there is a lack of research based on the prediction of loan fructification by entrepreneurs.…”