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Article
Publication date: 18 April 2022

Folorunsho M. Ajide and Titus Ayobami Ojeyinka

One of the main obstacles to the flourishment of African entrepreneurship is financial constraint. Existing studies on the nexus between entrepreneurship and financial…

Abstract

Purpose

One of the main obstacles to the flourishment of African entrepreneurship is financial constraint. Existing studies on the nexus between entrepreneurship and financial development are inconclusive, while the position of African economies remains unknown. The purpose of this paper is to empirically study the impact of financial development on entrepreneurship in Africa.

Design/methodology/approach

This study utilizes data of 20 selected countries in Africa over a period of 2006–2017. International Monetary Fund (IMF) data on broad-based financial development were combined with World Bank Entrepreneurship database. This study uses system generalized methods of moments (system GMM) technique and the recently developed dynamic panel threshold based on dynamic panel GMM.

Findings

The following findings emerged: financial development does not spur entrepreneurship in Africa; there is a threshold at which financial development improves the level of African entrepreneurship; and the tendency of financial development to improve the level of entrepreneurship is conditioned on conducive business regulation and strong institutional quality at a specific threshold value.

Originality/value

This is one of the few studies that examines the impact of financial development on entrepreneurship in Africa. This study shows that the financial development relies on the effectiveness of regulatory environment to extend loan and other financial services to new firm entrants. In addition, the results of this study reveal that the assumption of linearity in the nexus between finance and entrepreneurship is not tenable for the case of Africa. Therefore, policymakers should keep on developing African financial system to accelerate the pace of entrepreneurship development.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

Keywords

Book part
Publication date: 19 November 2018

Akilu Aliyu Shinkafi and Nor Aini Ali

PurposeEntrepreneurship development has become a goal of many countries to achieve economic development. Islamic economics is concerned with marketing, trading…

Abstract

PurposeEntrepreneurship development has become a goal of many countries to achieve economic development. Islamic economics is concerned with marketing, trading, business and entrepreneurship activities. This chapter examines the role of entrepreneurship development in Islamic economics.

Methodology/approach – This chapter is purely theoretical in nature. Thus, the Glorious Qur’an, Hadith and other related documents are its major sources.

Findings – The discussion reveals that entrepreneurship development has the potential to promote economic growth and development, employment, self-reliance and national growth. The discussion identifies a lack of capital and financial support as a principal obstacle to the development of entrepreneurship and entrepreneurs. This chapter further reveals that the success of entrepreneurship development and other commercial activities requires organisation in terms of coordination, networking and sharing of resources, as well as cooperation between government, public sector, private sector and enterprise.

Originality/value –The chapter is original in its form and arrangement having emerged as a novel attempt and the first of its kind. The chapter has a pearl of value to the Islamic economists, entrepreneurs, academic circle, and all those who may consider it relevant for application in their desirable business and cherish the value of its standing.

Details

New Developments in Islamic Economics
Type: Book
ISBN: 978-1-78756-283-7

Keywords

Article
Publication date: 12 November 2021

Shabir Ahmad and Ishtiaq Ahmad Bajwa

This study aims to present the first meta-analysis of the research on social entrepreneurship and socio-economic development (SESED). Nation-states, researchers and…

303

Abstract

Purpose

This study aims to present the first meta-analysis of the research on social entrepreneurship and socio-economic development (SESED). Nation-states, researchers and organizations realized the pivotal role of social entrepreneurship in socio-economic development in the recent two decades. The body of knowledge in this domain witnessed consistent research growth, but it still lacks a critical review to map the scholarly literature and to guide future researchers.

Design/methodology/approach

This study used meta-analysis that combines bibliometric and content analyzes of 83 most relevant articles from 910 initially retrieved articles from the Web of Science, published in 75 different journals and 45 countries during 2005 and 2020. The analysis was performed using Histcite, VOSviewer and Biblioshiny software to identify the most influential aspects and to conduct citation and content analyze of selected publications.

Findings

The findings showed an overall consistent growth in research publications during the past 16 years with “Social Entrepreneurship and Enterprise: International and Innovation Perspectives” as the most influential article, “Entrepreneurship and Regional Development” as the most influential journal, and the USA and the UK as the most productive countries. The keyword co-occurrence analysis exposed five thematic clusters and content analysis revealed five streams within the selected publications.

Practical implications

This study provides 10 research questions that urge future researchers to conduct a thorough investigation on how social entrepreneurship while solving social, cultural, environmental and community issues, contributes to socio-economic development.

Originality/value

This study identifies prominent trends, intellectual structure, leading research streams and specific future research directions in the field of SESED.

Details

Journal of Entrepreneurship in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 3 July 2020

Nahla G.A. Arabi and Abdelgadir M.A. Abdalla

The components of the ecosystems differ from one ecosystem to another. The purpose of this paper is to identify the components of entrepreneurial ecosystem and investigate…

Abstract

Purpose

The components of the ecosystems differ from one ecosystem to another. The purpose of this paper is to identify the components of entrepreneurial ecosystem and investigate its role in entrepreneurship development in the Sudanese manufacturing sector.

Design/methodology/approach

The current study is explanatory in nature and designed to be cross-sectional, using a quantitative approach. Questionnaires were used to collect data from a stratified sample, ten industrial subsectors drawn from the total population of the study. It includes 106 manufacturing firms, all located in Khartoum State. Data are analyzed with help of exploratory factor analysis and multiple regression model. .

Findings

Among the major findings is that the relationship between the entrepreneurial ecosystem and entrepreneurship development was found to be significant in six factors, namely: finance, government policy, human capital, infrastructure, research and development and innovation and regulatory framework, whereas it was insignificant in three factors, namely; culture, market and support services. These former factors explain 65.8% of the variation in entrepreneurship development.

Research limitations/implications

The cross-sectional nature of the study entails that its conclusions be limited to relevant parties.

Practical implications

In conclusion, a broad process to develop entrepreneurship ecosystem initiatives is proposed alongside the crucial roles that governments and other stakeholders should play.

Originality/value

This paper provides the most influential factors in the entrepreneurial ecosystem in Sudan. The study will be among the first studies that focuses on evaluating the existing entrepreneurial ecosystem in Sudan, given that relatively little systematic efforts have been devoted to examine the relationship between ecosystem and entrepreneurship development in Sudan.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 16 no. 4
Type: Research Article
ISSN: 2042-5961

Keywords

Article
Publication date: 8 June 2015

Felix Moses Edoho

The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in…

9562

Abstract

Purpose

The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in Nigeria. Gaps in policies and factors that impede entrepreneurship and MSME development are identified and proposals are offered to address the impediments.

Design/methodology/approach

A thorough review of the mainstream literature on entrepreneurship and MSME development is undertaken. This constitutes the reference point for identifying and reviewing specific public policies formulated and programs designed to stimulate entrepreneurial activities and facilitate MSME development. Data were obtained from federal government agencies. This paper contends that for public policies to accomplish their designed objectives of engendering entrepreneurship and MSME development, strategic realignments of various policy dimensions and programs are imperative.

Findings

Misalignments occur when existing public policies in other domains are in conflict with policies to promote entrepreneurship and MSME development. Policy misalignments negate the profit motive of entrepreneurship; stifle business innovation and expansion; and contribute to survivalist mode of entrepreneurship in the country. This thwarts the public policy goals of creating jobs and alleviating poverty.

Practical implications

Government needs to streamline current regulatory requirements and revamp tax policies to encourage entrepreneurs and MSMEs. Improvements in infrastructure (road networks, highways, power supply, and telecommunications) will significantly reduce overhead costs for entrepreneurs and help MSMEs to grow.

Originality/value

The paper demonstrates that without strategic realignments of public policies to ensure consistency and coherency in various dimensions, efforts to promote entrepreneurship and MSME development will not yield positive results. Existing public policies and programs need to be brought into tight realignment with policies and regulations in other domains to galvanize entrepreneurial efforts.

Details

African Journal of Economic and Management Studies, vol. 6 no. 2
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 18 April 2008

Hans Landström

A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that…

3848

Abstract

Purpose

A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that investments in knowledge and human capital generate economic growth through spillover of knowledge, and the policy implication is that investments in knowledge and human capital are the best way to stimulate growth. However, there is a couple of missing links in the “spillover argument” in that the theory seems to disregard the role of the entrepreneur. The paper aims to answer the question: Why haven't entrepreneurship researchers become a strong voice regarding the understanding of the development of the knowledge economy?

Design/methodology/approach

The author argues that a dynamic and innovative research field is characterized by a balance between the pursuit of new issues and knowledge in research, for example, by being sensitive for changes in society, and the development of existing knowledge, by integrating and validating the knowledge base already existing within the field.

Findings

The paper shows that one important reason for the lack of visibility of entrepreneurship research can be found in an internal scientific development of the research field – entrepreneurship research has become more and more theory‐driven and shows less sensitivity and openness for changes in society.

Originality/value

The article gives a critical reflection on the development of entrepreneurship as a research field. In this sense the article provides an increased understanding of the knowledge that is within the field, and gives also suggestions for the future development of the research field.

Details

Journal of Intellectual Capital, vol. 9 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 21 August 2017

Lori Dickes, Elizabeth Crouch and Thomas C. Walker

Entrepreneurship is argued to be a critical driver of economic growth for both individual communities and the nation. Regional scientists, economists, and policy makers…

Abstract

Purpose

Entrepreneurship is argued to be a critical driver of economic growth for both individual communities and the nation. Regional scientists, economists, and policy makers underscore the importance of a diverse economy that supports recruitment of new firms, existing firms, and entrepreneurship efforts. However, there remains evidence that many states and localities prefer traditional industrial recruitment efforts and that local and state entrepreneurial efforts may be less coordinated. The paper aims to discuss these issues.

Design/methodology/approach

This research explores the commitment and priorities of local and regional developers to entrepreneurial policy and other economic development policy efforts. This study uses a statewide survey to local economic developers and logistic regression to determine the likelihood of local entrepreneurial program efforts across South Carolina.

Findings

The model results reveal that the probability of local or regional entrepreneurial development programming is complex and dependent on the type of organization involved in economic development along with other community and state characteristics. However, results further confirm that barriers to entrepreneurship, like access to seed capital, and the influence of perceived alternative policies affect local and regional support of entrepreneurship.

Originality/value

The policy priorities of local economic developers appear to play a significant role in the probability of having local entrepreneurship policy and programs. This confirms that the signals local policymakers receive from the state may impact the programming choices and policy emphasis at the local and regional level. In conclusion, if states want entrepreneurial efforts to be a critical driver of economic growth and development, there must be a coordinated and focused state driver supporting these efforts.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 2
Type: Research Article
ISSN: 2045-2101

Keywords

Article
Publication date: 28 June 2011

Jay Mitra, Y.A. Abubakar and M. Sagagi

Tackling structural and emergent problems in the labour market, valorising skilled human capital (HC) for opportunity creation, economic development and growth, are some…

5241

Abstract

Purpose

Tackling structural and emergent problems in the labour market, valorising skilled human capital (HC) for opportunity creation, economic development and growth, are some of the key drivers for graduate entrepreneurship. This paper aims to examine developments in Africa, focusing on the significance of improving human capital through graduate entrepreneurship to meet the Millennium Development Goals (MDGs) in Nigeria.

Design/methodology/approach

Based on a unique Education Partnerships in Africa (EPA) project the paper adopts a conceptual and exploratory approach to understand the institutional, cultural and economic dimensions of change and the specific role of graduate entrepreneurship education and training in enabling productive outcomes, using an illustrative case study of the project to develop the arguments.

Findings

Knowledge creation lies at the heart of entrepreneurship development in developing economies such as Nigeria. Knowledge creation (KC) for entrepreneurship (E) is based on human capital (HC) development. In circumstances of uneven growth in developing economies HC development is the only constant. Harnessing HC for entrepreneurship can be based on three sets of propositions derived from an examination of the relationship between KC, HC and E, which locate graduate entrepreneurship's role within a holistic, institutional framework.

Originality/value

The paper's originality lies in the development of a model for promoting and evaluating a holistic approach to graduate entrepreneurship in developing countries based on the targeting of MDGs. It offers new insights into the role of graduate entrepreneurship in economic and social development.

Article
Publication date: 10 September 2017

Hasan Ghura, Xiaoqing Li and Arezou Harraf

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their…

Abstract

Purpose

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their economies towards a more sustainable diversified model, through creating and fostering institutions that are conducive for opportunity entrepreneurship.

Design/methodology/approach

Several key variables pertaining to formal and informal institutions which impact opportunity entrepreneurship are presented in a conceptual framework based on a comprehensive, non-systematic literature review.

Findings

Findings from the comprehensive literature review suggest that institutions play a moderating role between opportunity entrepreneurship and economic development. Institutions can stimulate entrepreneur’s behaviour leading to economic growth and subsequently development. Proposals worth pursuing in empirical studies in the future are presented based on the review of the literature.

Practical implications

This framework offers a model for oil-based countries in resolving structural problems in fostering entrepreneurship when responding to economic challenges.

Originality/value

The proposed framework in this study takes into consideration a comprehensive set of formal and informal institutional factors, rarely discussed in the existing literature, that link opportunity entrepreneurship and economic growth and development. Insights offered by this study have implications for government policy changes in developing effective institutions.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 13 no. 4
Type: Research Article
ISSN: 2042-5961

Keywords

Book part
Publication date: 9 June 2022

Shabir Ahmad and Ishtiaq Bajwa

Nation-states, researchers, and organizations realized the pivotal role of social entrepreneurship in economic development in the recent two decades. The body of knowledge…

Abstract

Nation-states, researchers, and organizations realized the pivotal role of social entrepreneurship in economic development in the recent two decades. The body of knowledge in this domain witnessed consistent research growth but it still lacks a critical review to guide future researchers. This chapter contributes to the body of knowledge by presenting the first bibliometric analysis (using software such as HistCite, VOSviewer, and Biblioshiny). The relevant articles were searched in the Web of Science (WOS) database to ensure the inclusion of high-quality research. Among 910 initially retrieved publications 86 most relevant publications were included in the final dataset. The analysis included various bibliometrics and visualization maps such as the publication trends, most influential articles and journals, most productive countries and organizations, co-citation analysis, and thematic clustering of the research. The findings showed an overall consistent growth in research publications during the last 16 years (2005–2020) with Social entrepreneurship and enterprise: international and innovation perspectives' as the most influential article, Entrepreneurship and Regional Development as the most influential journal, and the United States and the United Kingdom as the most productive countries. The keyword co-occurrence analysis exposed five thematic clusters within the selected dataset indicating a relatively less focus on economic development aspects. Thus, future research should explore how social entrepreneurship, while solving social, cultural, environmental, and community issues, contributes to economic development. The research implications and limitations are discussed in the end.

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