Description
Title: Evidence from OECD Countries on the Effects of Entrepreneurial Conditions on Economic Growth
Abstract: Based on the degree of economic development in transition-driven economies and innovation-driven economies, this study seeks to evaluate the effects of entrepreneurial framework conditions on economic growth. Data from the National Expert Survey (NES), the Global Monitor Entrepreneurship (GEM), and the World Bank were compiled into a panel covering the years 2000 through 2019. Applying the generalized method of moments (GMM) estimation, we discovered that R&D transfer has a favorable effect on transition-driven economies but a detrimental effect on economic growth that is innovation-driven. The findings further demonstrated that business and professional infrastructure have no positive effects on economic growth, regardless of the level of development of the nation. Taxes, regulations, and physical and service infrastructure, on the other hand, were found to have negative effects on economic growth in transition-driven economies while having positive effects in economies driven by innovation. The current study helps to clarify the relationship between economic growth and the prerequisites for entrepreneurship in countries with various rates of economic growth. The findings of this study can be used as a foundation for new or modified policies that aim to boost economic growth.
Keywords: entrepreneurship; framework conditions; Global Entrepreneurship Monitor (GEM); transition economies; transition-driven economies; innovation-driven economies; economic growth
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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