Entrepreneurial Behaviour on the New Silk Road: Space for Improvement?

Abstract

Abstract A number of studies point out a positive influence of entrepreneurship on economic growth. This is due to the role that entrepreneurs play in the economy by utilizing new knowledge, shaping markets, and pushing out unproductive incumbents. The ambitious One Belt One Road Initiative, which recently includes sixty Asian, African and European countries, aims at stimulating global economic development and prosperity. From the theoretical point of view, entrepreneurship is crucial for achieving the aim. Consequently, the intent of this paper is to analyze entrepreneurial behavior of the countries participated in the One Belt One Road Initiative, using the data from the Global Entrepreneurship Monitor (GEM). Distinct country clusters are identified and their entrepreneurial characteristics are interpreted.