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The Impact of Entrepreneurship on Economic Growth in 95 Developing and Emerging Countries

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  • Mohamed Salah Zouita

Abstract

This paper examines the effects of entrepreneurship on economic growth in 95 developing and emerging countries during the period 2006-2018. It develops aggregate and disaggregate empirical analyses by decomposing the full sample according to income level and geographic distribution. Moreover, it controls for the role of institutions when assessing the effects of entrepreneurship on economic growth. The empirical study consists of estimating a growth model using the fixed effects, random effects and system GMM estimators. The findings show that entrepreneurial activity exerts a positive and robust effect on economic growth in the full sample. The highest impact is reported in Asia, followed by the Middle East and North Africa, Latin America and Caribbean countries, and Sub-Saharan Africa. Furthermore, the impact of entrepreneurship on growth is higher in low-income economies than in high-income economies. Finally, the regulatory quality enhances the positive effects of entrepreneurship on economic growth. JEL Codes - L26; O43; O47

Suggested Citation

  • Mohamed Salah Zouita, 2021. "The Impact of Entrepreneurship on Economic Growth in 95 Developing and Emerging Countries," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 68(2), pages 145-162, June.
    • Handle: RePEc:aic:saebjn:v:68:y:2021:i:2:p:145-162:n:213
    DOI: 10.47743/saeb-2021-0014
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    More about this item

    Keywords

    economic growth; entrepreneurship; institutions; emerging countries;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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