{"title":"ECONOMIC FREEDOM, ENTREPRENEURSHIP AND ECONOMIC GROWTH: EVIDENCE FROM PANEL DATA","authors":"M. M. Khyareh, M. Zamani","doi":"10.1142/s1084946722500273","DOIUrl":null,"url":null,"abstract":"The existing literature is filled with mixed findings on the effect of entrepreneurship on economic growth. In particular, previous literature treats the effect of entrepreneurship on economic growth in isolation, while we emphasize the institutional environment, and especially, economic freedom. Using data from the Global Entrepreneurship Monitor, we re-explore the relationship between entrepreneurship and growth and attempt to clarify the mixed findings. The systemic link between economic freedom, entrepreneurship and economic growth is investigated by examining a panel of 54 countries (2008-2018). The results validate that overall economic freedom and its subcomponents, such as the rule of law, limited government size, regulatory efficiency and market openness promote the positive effects of entrepreneurial activity on economic growth. The results suggest that economic freedom not only directs individual efforts to entrepreneurial activity, but also affects the extent to which entrepreneurial activity encourages higher growth rates. The findings contradict policy recommendations that some measures of economic freedom are not significantly associated with entrepreneurship.","PeriodicalId":46653,"journal":{"name":"Journal of Developmental Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.3000,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Developmental Entrepreneurship","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1142/s1084946722500273","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 2
Abstract
The existing literature is filled with mixed findings on the effect of entrepreneurship on economic growth. In particular, previous literature treats the effect of entrepreneurship on economic growth in isolation, while we emphasize the institutional environment, and especially, economic freedom. Using data from the Global Entrepreneurship Monitor, we re-explore the relationship between entrepreneurship and growth and attempt to clarify the mixed findings. The systemic link between economic freedom, entrepreneurship and economic growth is investigated by examining a panel of 54 countries (2008-2018). The results validate that overall economic freedom and its subcomponents, such as the rule of law, limited government size, regulatory efficiency and market openness promote the positive effects of entrepreneurial activity on economic growth. The results suggest that economic freedom not only directs individual efforts to entrepreneurial activity, but also affects the extent to which entrepreneurial activity encourages higher growth rates. The findings contradict policy recommendations that some measures of economic freedom are not significantly associated with entrepreneurship.
期刊介绍：
The Journal of Developmental Entrepreneurship (JDE) provides a forum for the dissemination of descriptive, empirical, and theoretical research that focuses on issues concerning microenterprise and small business development, especially under conditions of adversity. The intended audiences for JDE are scholars who study issues of developmental entrepreneurship and professionals involved in governmental and non-governmental efforts to facilitate entrepreneurship in economic and community development programs around the world. Articles will cover a broad range of topics, including: -Entrepreneurship and self-employment in developing contexts -Challenges and opportunities unique to minority and women entrepreneurs -Microenterprise funds and private-sector small business lending practices -Legislation, regulation, and tax policy that impact entrepreneurship and economic development -Processes that facilitate growth and development within emerging enterprises -Networks within and among entrepreneurial ventures -Marketing patterns and approaches in venture growth and development -International developmental entrepreneurship programs -Entrepreneurship in the informal economic sector -Education and training for aspiring entrepreneurs -Industry practices that adversely affect microenterprise development -Economic and social impacts of microenterprise activity
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