scholarly journals Entrepreneurs with high expectations of growth and economic growth

2018 ◽  
Vol 16 (2) ◽  
pp. 85-98
Author(s):  
Jairo Alonso Orozco Triana ◽  
Luis Carlos Arraut Camargo
Keyword(s):  
Economic Growth ◽  
Descriptive Analysis ◽  
Ordinary Least Squares ◽  
World Economic Forum ◽  
Global Entrepreneurship Monitor ◽  
High Expectations ◽  
Politica Publica ◽  
World Economic ◽  
Global Entrepreneurship ◽  
The Impact

This article explains the impact of entrepreneurs’ expectations on countries economic growth, considering the public policies that foster the development. Using data from Global Entrepreneurship Monitor and the World Economic Forum a descriptive analysis is done, then with the application of ordinary least squares (OLS) the effects are explained by groups of countries: efficiency-driven and innovation-driven. Ultimately in innovation-driven countries is clear the relationship between expectations of entrepreneurs and economic growth, while, with some exceptions, in efficiency-driven countries public policy should be focused on break the barrier that halt the momentum of entrepreneurs with high expectations.ResumenEste artículo explica el impacto de las expectativas que tienen los emprendedores en etapas tempranas sobre el crecimiento económico de los países, teniendo en cuenta las políticas públicas que ambientan el desarrollo. Esta investigación utiliza variables del Global Entrepreneurship Monitor y del World Economic Forum para realizar un análisis descriptivo. Luego utilizando del método de mínimos cuadrados ordinarios se explican los efectos por grupos de países: impulsados por la eficiencia e impulsados por la innovación. En definitiva, en los países impulsados por la innovación es clara la relación expectativa de los emprendedores y crecimiento, salvo algunas excepciones, en los países impulsados por la eficiencia se debe trabajar la política pública para que las instituciones no sean la barrera que frene el ímpetu de los emprendedores con altas expectativas.ResumoEste artigo explica o impacto das expectativas dos empresários no crescimento econômico dos países, considerando as políticas públicas que fomentam o desenvolvimento. Usando dados do Global Entrepreneurship Monitor e do Fórum Econômico Mundial, uma análise descritiva é feita, depois, com a aplicação de mínimos quadrados ordinários (OLS), os efeitos são explicados por grupos de países: impulsionados pela eficiência e orientados pela inovação. Em última análise, nos países impulsionados pela inovação está clara a relação entre as expectativas dos empresários e crescimento econômico, enquanto, com algumas exceções, em países orientados para a eficiência política pública deve ser focada em romper a barreira que parar o ímpeto de empresários com expectativas elevadas.

scholarly journals Evidências adicionais da relação entre empreendedorismo e crescimento econômico

2017 ◽  
pp. 127
Author(s):  
Silvio Da Rosa Paula ◽  
Daniel De Abreu Pereira Uhr ◽  
Júlia Gallego Ziero Uhr
Keyword(s):  
World Economic Forum ◽  
Global Entrepreneurship Monitor ◽  
World Economic ◽  
Global Entrepreneurship

O objetivo deste artigo é investigar a influência do empreendedorismo no crescimento econômico. Utiliza-se três variáveis de empreendedorismo extraídas do Global Entrepreneurship Monitor juntamente com o índice de competitividade global elaborado pelo World Economic Forum, um indicador que captura o conjunto de instituições, políticas e fatores que definem o níveis atuais e médio prazo sustentáveis de prosperidade econômica. Para o modelo empírico utiliza-se o método de dados em painel com controle para efeitos fixos, para o período entre 2006 a 2014. Os resultados demonstram que o empreendedorismo é um fator importante para explicar o crescimento econômico, todavia seu impacto depende do estágio do desenvolvimento econômico dos países.

Conditions Supporting Entrepreneurship and Sustainable Growth

2017 ◽  
Vol 8 (3) ◽  
pp. 67-86 ◽  
Author(s):  
Luís Farinha ◽  
Joao J. Ferreira ◽  
Sara Nunes ◽  
Vanessa Ratten
Keyword(s):  
Structural Equation ◽  
Sustainable Growth ◽  
World Economic Forum ◽  
Global Entrepreneurship Monitor ◽  
Equation Modelling ◽  
The World ◽  
World Economic ◽  
The Caribbean ◽  
Global Entrepreneurship ◽  
Geographic Regions

There are a variety of different conditions that support entrepreneurship and affect sustainable development. The aim of this paper is to focus on the issue of territorial advantage, based on the dimensions analysed by the World Economic Forum (WEF). This helps to assess the sustainable competitiveness of different geographic regions in the world based on the variables of the Global Entrepreneurship Monitor (GEM). The geographic regions the authors focus on in the analysis are 1) Asia and Oceania, 2) Europe and 3) Latin America and the Caribbean. From the analysis they analyse which variables best explain the socio-economic development of these geographic regions and whether there are any major differences. The results based on partial least squares structural equation modelling (PLS-SEM) show the variables within each group of countries, which best explain the regional development. This helps to understand the association between competitiveness and entrepreneurship variables with sustainable growth in order to help explain best interventionist priorities to use in order to foster entrepreneurship.

The Role of Trust in New SME Creation

2010 ◽  
Vol 11 (2) ◽  
pp. 129-139 ◽  
Author(s):  
Michael Troilo
Keyword(s):  
Economic Growth ◽  
Entrepreneurial Activity ◽  
Global Entrepreneurship Monitor ◽  
Firm Formation ◽  
New Firm Formation ◽  
New Firm ◽  
Global Entrepreneurship ◽  
The Impact ◽  
The Relationship

Small and medium-sized enterprises (SMEs) are key to economic growth, and yet comparatively little research has examined the relationship between the level of societal trust and the motivations and opportunities of entrepreneurs starting new SMEs. The author tests the impact of trust on new firm formation using the Global Entrepreneurship Monitor (GEM) survey data for 2001–2003. Trust is found to be significant for starting SMEs that pursue Schumpeterian opportunities. Trust is also significant for overall levels of entrepreneurship and for opportunity entrepreneurs in developing countries. These findings add nuance to previous literature suggesting that trust is significant for all forms of entrepreneurial activity.

Gender Impact on the Enterprise Performance

2020 ◽  
pp. 54-62
Author(s):  
Oleksii V. Lyulyov ◽  
Oleksandra I. Karintseva ◽  
Andrii V. Yevdokymov ◽  
Hanna S. Ponomarova ◽  
Oleksandr O. Ivanov
Keyword(s):  
Gender Equality ◽  
Gender Gap ◽  
Gender Representation ◽  
Board Members ◽  
Enterprise Performance ◽  
World Economic Forum ◽  
Return On Assets ◽  
The World ◽  
World Economic ◽  
The Impact

The article describes the situation of gender equality in Ukraine and in the world during the last 5 years, identifies the leading countries in moving towards gender equality in various fields of life by analyzing the indicators of the Global Gender Gap Report of the World Economic Forum. These indicators include: Economic Participation and Opportunity, Educational Attainment, Health and Survival, Political Empowerment, which are the part of a single index that determines the position of countries in the overall ranking. Based on the results of this analysis, Ukraine has improved value of gender equality index, although in the overall ranking of countries Ukraine has lost its position and dropped 11 ranks lower than in 2014. This means that, among all the countries surveyed by the World Economic Forum, there are countries that are moving much faster towards gender equality than Ukraine. In addition, the article includes the investigation of the gender representation among the board members of 5 enterprises of Ukraine for 2014-2017, which represent the leading sectors of the Ukrainian economy. The dynamics of changes in the level of performance of these enterprises using the return on assets (ROA) indicator is analyzed, the relationship between the leadership of the enterprises and the value of the ROA indicator is graphically presented. The obtained results do not give a clear answer about the gender impact on the enterprise performance. The reason for this is a number of factors, such as: insufficient statistical sampling of enterprises; the selected performance indicator of enterprise activities does not fully reflect the impact of the gender factor on enterprise activities; the methodology used in the work needs improvements, or it is necessary to choose a totally new approach to the analysis of the investigated issue under study. Gender representation among board members and its impact on enterprise performance should be investigated further. Key words: gender, gender equality, enterprise board members, return on assets.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

scholarly journals Foreign Experience of State Management of Raw Materials Industries and the Possibility of its Implementation in the Russian Federation in the Post-Covid Period

2021 ◽  
Vol 93 ◽  
pp. 05004
Author(s):  
Dmitry Rodnyansky ◽  
Ivan Makarov ◽  
Evgeniya Korotayeva ◽  
Vadim Kovrigin ◽  
Vladislav Nazarenko
Keyword(s):  
Climate Change ◽  
Raw Materials ◽  
Oil Industry ◽  
State Regulation ◽  
World Economic Forum ◽  
State Management ◽  
The World ◽  
World Economic ◽  
The Russian Federation ◽  
The Impact

In modern conditions, issues related to the effectiveness of the regulation of the oil industry by the state are becoming increasingly important. In January 2018, the World Economic Forum was held in Davos, which, in particular, noted the impact of the growth of protectionist trends in the global trade in hydrocarbons, and the impact of climate change on the planet on the export of hydrocarbons. As a result of the forum, the key ways of adjusting the policy of states in the relevant area were identified. At the same time, a significant number of states are already seeing the process of changing state regulation of the industry. In this article, the authors analyzed the systems of state regulation of the oil industry in different countries, and also gave assessments of the possibility of integrating new mechanisms into the system of sectoral management in Russia in the conditions of post-covid reality

scholarly journals The Impact of Industrialization, Trade Openness, Financial Development, and Energy Consumption on Economic Growth in Indonesia

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 174
Author(s):  
Khalid Eltayeb Elfaki ◽  
Rossanto Dwi Handoyo ◽  
Kabiru Hannafi Ibrahim
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Least Squares ◽  
Financial Development ◽  
Correction Term ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact

This study aimed to scrutinize the impact of financial development, energy consumption, industrialization, and trade openness on economic growth in Indonesia over the period 1984–2018. To do so, the study employed the autoregressive distributed lag (ARDL) model to estimate the long-run and short-run nexus among the variables. Furthermore, fully modified ordinary least squares (FMOLS), dynamic least squares (DOLS), and canonical cointegrating regression (CCR) were used for a more robust examination of the empirical findings. The result of cointegration confirms the presence of cointegration among the variables. Findings from the ARDL indicate that industrialization, energy consumption, and financial development (measured by domestic credit) positively influence economic growth in the long run. However, financial development (measured by money supply) and trade openness demonstrate a negative effect on economic growth. The positive nexus among industrialization, financial development, energy consumption, and economic growth explains that these variables were stimulating growth in Indonesia. The error correction term indicates a 68% annual adjustment from any deviation in the previous period’s long-run equilibrium economic growth. These findings provide a strong testimony that industrialization and financial development are key to sustained long-run economic growth in Indonesia.

scholarly journals The Impact of Government Debt on the Economic Growth of Ghana: A Time Series Analysis from 1990-2015

2015 ◽  
Vol 2 (5) ◽  
pp. 31-39 ◽  
Author(s):  
Lucy Anning ◽  
Collins Frimpong Ofori ◽  
Ernest Kwame Affum
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Negative Relationship ◽  
Secondary Data ◽  
Government Debt ◽  
Ordinary Least Squares ◽  
Poor Countries ◽  
High Dependency ◽  
Heavily Indebted Poor Countries ◽  
The Impact

In this study we investigate the impact of government debt on the economic growth of Ghana adopting the methodology of the simple Ordinary Least Squares with data spanning from 1990 to 2015. Ghana has unfortunately found itself in the tragic situation of high external government debt which has led to high dependency on aid and other loans to support its development. These aids and loans have seen the debt of Ghana rise steadily over the years. As a result of the Heavily-Indebted Poor Countries (HIPC) which was presented by the IMF and World Bank in 1999, Ghana was judged to be a HIPC with unsustainable debt enabling the country to benefit from debt relief. We investigate the impact of government debt (both external and domestic) by testing three related models at the domestic and external levels including the general growth of the Ghanaian economy. In constructing our dataset, we build on the study of many scholars including a substantial amount of new materials from both primary and secondary data sources being Ministry of Finance (MOF) or Treasury Latest actual data: Government Finance Statistics Manual (GFSM), Ghana and World Bank. The research findings revealed that there is a negative relationship between debt (domestic and external) and growth in the economy of Ghana and recommend among others that government debt borrowing should be discouraged while increasing the revenue base through tax reform programs is encouraged.

Impact of Cultural Factors on Entrepreneurship

2019 ◽  
pp. 433-454
Author(s):  
Jose Ramón Gutierrez Martin
Keyword(s):  
Cultural Factors ◽  
Extensive Literature ◽  
Global Entrepreneurship Monitor ◽  
Country Analysis ◽  
Main Factors ◽  
Global Entrepreneurship ◽  
Cross Country ◽  
Entrepreneurship Ecosystems ◽  
Hapax Legomenon ◽  
The Impact

Since the 1990s there has been extensive literature about the main factors impacting on entrepreneurship activity, and therefore on the genesis and development of entrepreneurship ecosystems. Among these factors, cultural ones are of the most interest because they are specific to every community and may become essential to boost or break the entrepreneurship activity. A lot has been written about these cultural factors, especially at reaching conclusions from specific cases. However, any kind of cross-country analysis of these cultural factors has been much less widely published, with some rare exceptions. Indeed, this chapter aims to fill this gap, enhancing knowledge about entrepreneurship with a cross-country analysis on the impact of cultural factors, using models and data from Global Entrepreneurship Monitor (GEM). Moreover, particular focus has been done on Japan because of its nature as an hapax legomenon country that lets us better appreciate the impact of these factors.

scholarly journals The human capital–economic growth nexus in SSA countries: what can strengthen the relationship?

2020 ◽  
Vol 47 (9) ◽  
pp. 1143-1159
Author(s):  
Roseline Tapuwa Karambakuwa ◽  
Ronney Ncwadi ◽  
Andrew Phiri
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Least Squares ◽  
Ordinary Least Squares ◽  
African Countries ◽  
Content Type ◽  
Econometric Approach ◽  
The Impact ◽  
The Relationship ◽  
Ssa Countries

PurposeThe purpose of this study is to examine the impact of human capital on economic growth for a selected sample of nine SSA countries between 1980 and 2014 using a panel econometric approach.Design/methodology/approachThe authors estimate a log-linearized endogenous using the fully modified ordinary least squares (FMOLS) and the dynamic ordinary least squares (POLS) applied to our panel data time series.FindingsThe empirical analysis shows an insignificant effect of human capital on economic growth for our selected sample. These findings remain unchanged even after adding interactive terms to human capital, which are representatives of government spending as well as foreign direct investment. Nevertheless, the authors establish a positive and significant effect of the interactive term between urbanization and human capital on economic growth.Practical implicationsThe results emphasize the need for African policymakers to develop urbanized, “smart”, technologically driven cities within the SSA region as a platform toward strengthening the impact of human capital-economic growth relationship.Originality/valueThis study becomes the first in the literature to validate the human capital–urbanization–growth relationship for African countries.

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