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Entrepreneurial Activity and Economic Growth of BRICS Countries: Retrospect and Prospects

Author

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  • Ashok K. Gaba
  • Nitika Gaba

Abstract

Entrepreneurial activity is generally considered to be an important tool for improving economic growth through innovation and employment. The objective of the study was to determine the relationship among economic growth (GDP), entrepreneurial intention (EI), total early-stage entrepreneurial activity (TEA), established business ownership (EBO) rate and high job creation expectation (HJCE) rate. The research design followed a quantitative approach to annual secondary data from 2014 to 2018 for the BRICS countries (Brazil, Russia, India, China and South Africa). The dynamic ordinary least squares model was used to test the relationship among variables. Results indicated that EI is a significant determinant for economic growth. The study added to the prior literature by confirming that EI drives economic growth which can be useful for the policymakers.

Suggested Citation

  • Ashok K. Gaba & Nitika Gaba, 2022. "Entrepreneurial Activity and Economic Growth of BRICS Countries: Retrospect and Prospects," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 31(2), pages 402-424, July.
    • Handle: RePEc:sae:jouent:v:31:y:2022:i:2:p:402-424
    DOI: 10.1177/09713557221097160
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