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International Political Economy, Business Ecosystems, Entrepreneurship, and Sustainability: A Synthesis on the Case of the Energy Sector

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  • Dimos Chatzinikolaou

    (Department of Economics, Democritus University of Thrace, 69100 Komotini, Greece
    Knowledge Management, Innovation and Strategy Center (KISC), University of Nicosia, P.O. Box 24005, Nicosia CY-2417, Cyprus)

  • Charis Michael Vlados

    (Department of Economics, Democritus University of Thrace, 69100 Komotini, Greece
    Knowledge Management, Innovation and Strategy Center (KISC), University of Nicosia, P.O. Box 24005, Nicosia CY-2417, Cyprus
    School of Business, University of Nicosia, P.O. Box 24005, Nicosia CY-2417, Cyprus)

Abstract

This paper explores the intricate relationships among the evolution of the international political economy, the dynamics of business ecosystems, and the transformations in entrepreneurship within the European energy sector, with a specific emphasis on Greece, particularly the less developed region of Eastern Macedonia and Thrace. The aim is to understand how geopolitical, economic, and technological dynamics interact across macro-, meso-, and microlevels, especially within the context of the ongoing global energy transition. A multi-method approach is employed, including interviews with 16 experts, a survey of 89 energy firms, and eight in-depth interviews with microfirm owners. A key finding is that an integrated and evolutionary macro–meso–micro framework is essential for understanding and addressing the complex dynamics across various sectors, especially in the energy sector. The study highlights the need for targeted support for smaller firms through a restructured energy policy to foster local entrepreneurship and innovation. It further emphasizes that understanding the evolution of the global energy system and its components is crucial for addressing sustainability in environmental and socioeconomic terms, as the emerging model of energy production and consumption is directly tied to the reshaping of socioeconomic development models in the new globalization.

Suggested Citation

  • Dimos Chatzinikolaou & Charis Michael Vlados, 2024. "International Political Economy, Business Ecosystems, Entrepreneurship, and Sustainability: A Synthesis on the Case of the Energy Sector," Sustainability, MDPI, vol. 16(22), pages 1-24, November.
  • Handle: RePEc:gam:jsusta:v:16:y:2024:i:22:p:10092-:d:1524424
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    References listed on IDEAS

    as
    1. Caroline Kuzemko & Andrew Lawrence & Matthew Watson, 2019. "New directions in the international political economy of energy," Review of International Political Economy, Taylor & Francis Journals, vol. 26(1), pages 1-24, January.
    2. Dimos Chatzinikolaou & Charis Michael Vlados, 2024. "New Globalization and Energy Transition: Insights from Recent Global Developments," Societies, MDPI, vol. 14(9), pages 1-21, August.
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    5. Dimos Chatzinikolaou & Charis Vlados, 2023. "Evolution of Business Physiology in the Wine Industry: Insights From the Stra.Tech.Man Scorecard in the Cephalonian Robola Sector," DUTH Research Papers in Economics 2-2023, Democritus University of Thrace, Department of Economics.
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    1. Dimos Chatzinikolaou & Charis Michael Vlados, 2025. "Energy Entrepreneurship in the Emerging New Globalization: A Macro–Meso–Micro Perspective with Evidence from a Less-Developed Regional Ecosystem," Energies, MDPI, vol. 18(6), pages 1-30, March.
    2. Olena Ivashko & Anastasiia Simakhova & Vladyslav Soliakov & Jerzy Choroszczak, 2025. "Clustering EU Member States by Energy Security Level Using Kohonen Maps," Energies, MDPI, vol. 18(17), pages 1-15, September.
    3. Dimos Chatzinikolaou, 2025. "Integrating Sustainable Energy Development with Energy Ecosystems: Trends and Future Prospects in Greece," Sustainability, MDPI, vol. 17(4), pages 1-40, February.
    4. Dimos Chatzinikolaou & Renata Kubus, 2025. "Macro–Meso–Micro: An Integrative Framework for Evolutionary Economics and Sustainable Transitions," Sustainability, MDPI, vol. 17(21), pages 1-19, October.

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