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Entrepreneurship, Structural Change and a Global Economic Crisis

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  • Gries Thomas
  • Naude Wim

Abstract

Building on a Lewis-type model of structural change and entrepreneurship we illustrate how a global economic crisis consisting of a financial and a trade shock can undermine structural change in developing countries via the start-up and innovation activities of entrepreneurs. The model analytics identifies a number of challenges for structural change in a post-crisis world, including dealing with greater bank concentration, higher costs of bank monitoring and stricter regulations and collateral requirements, flights-to-safety in global finance and reduced incentives for innovation and job-creating start-up activities.

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  • Gries Thomas & Naude Wim, 2011. "Entrepreneurship, Structural Change and a Global Economic Crisis," Entrepreneurship Research Journal, De Gruyter, vol. 1(3), pages 1-43, July.
    • Handle: RePEc:bpj:erjour:v:1:y:2011:i:3:n:4
    DOI: 10.2202/2157-5665.1029
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    1. Thomas Gries & Wim Naudé, 2021. "Extreme Events, Entrepreneurial Start-Ups, and Innovation: Theoretical Conjectures," Economics of Disasters and Climate Change, Springer, vol. 5(3), pages 329-353, October.
    2. Antonia Mercedes García-Cabrera & María Gracia García-Soto & Juan José Durán-Herrera, 2016. "Opportunity motivation and SME internationalisation in emerging countries: Evidence from entrepreneurs’ perception of institutions," International Entrepreneurship and Management Journal, Springer, vol. 12(3), pages 879-910, September.
    3. Martínez Mateo, Jesús & Mira Solves, Ignacio & Gómez Gras, José M.ª, 2013. "Influence of the economic cycle on the determinants of nascent entrepreneurial activity. An empirical analysis of the Spanish case," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 26, pages 19-45.
    4. Zuzana Brixiova, 2013. "Modeling productive entrepreneurship in developing countries," Small Business Economics, Springer, vol. 41(1), pages 183-194, June.
    5. Antonia Mercedes García-Cabrera & María Gracia García-Soto, 2023. "Subnational institutional configurations and international expansion of SMEs in emerging economies," Journal of International Entrepreneurship, Springer, vol. 21(1), pages 31-59, March.

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