Worldwide role of women entrepreneurs in economic development

Abstract

Purpose The contribution of women entrepreneurs is still invisible and needs to be properly investigated. The purpose of this paper is to investigate this relationship by measuring women entrepreneurship and economic development at global level. Design/methodology/approach Secondary data has been retrieved from Female Entrepreneurship Index Report 2015, Human Development Report 2015 and KOF Index of Globalization 2015. Cross-sectional data is used from 69 countries of the world. Multiple regression is applied to estimate the data. Findings The results explained the significant impact of women entrepreneurship on the economies of the world. It was observed that women participation in entrepreneurial activities not only supports to their family income but also plays a significant role in economic development and social well-being of the society. Research limitations/implications There is no information about total output of women entrepreneurs in terms of new enterprises setups and established businesses of women except for year 2015. So, to measure the real contribution of women entrepreneurs around the globe is still a challenge. Practical implications It is reality that when women would be empowered as entrepreneurs then whole society gets benefits from it, as women entrepreneurs are beneficial for not only economic development but also social development of society. Originality/value This study uniquely addresses the contribution of women entrepreneurs in the world economy which is still an unseen but a powerful benefactor of development.