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The relationships among institutions, entrepreneurship, and economic growth are hotly contested topics. The objective of this present study is to conduct a systematic literature review aimed at comprehensively assessing the relationships between institutional pillars, entrepreneurship and economic growth.

Specifically, a comprehensive analysis of 141 empirical publications was carried out using the PRISMA protocol. The reviewed publications were taken from the Web of Science, Scopus and Google Scholar databases. Thirty-three articles that met the eligibility criteria of quality, relevance and timeliness of the publications were included in the the study.

Three key lessons emerged from the review. First, it was discovered that entrepreneurship and economic growth are influenced by three institutional pillars at various levels, including the regulatory, cognitive and normative pillars. Second, according to the type of institutional quality, the institutional pillars in a causal framework have a good or negative impact on entrepreneurship. Third, novel enterprise creation, self-employment, citizen employment, poverty alleviation, radical innovation, formalization of the informal sector, promotion of competition in existing and new markets, Gross Domestic Product (GDP) growth and the emergence of new business models that significantly improve quality of life.

The study proposes a conceptual framework for further exploring this important relationship based on solid empirical evidence. By providing a theoretically grounded framework, the paper fills the gaps in the literature and helps to clarify the relationship between institutional foundations, entrepreneurship and economic progress.

The aim of the research is to examine in depth the relationship between financial support, entrepreneurship and economic growth in emerging African economies.

The study adopts the system-generalized methods of moments (sys-GMM) technique for data analysis and hypothesis testing on a sample of 34 African emerging economies (340 observations) from 2010 to 2019.

The results show that there is significant positive correlation between financial support, entrepreneurship, and economic growth. Moreover, entrepreneurship served as a partial mediator between financial support and economic growth in African emerging economies.

This research suggests that African governments should focus on entrepreneurial systems, which are essentially networks driven by the pursuit of individual opportunities and the promotion of new business creation; and introduce other forms of financial assistance, such as loans, loan guarantees, interest subsidies, technical assistance, insurance, etc.

The main novelty of the paper is that the authors empirically investigate the mediating role of entrepreneurship in the association between financial support and economic growth in 34 African emerging economies.

In the study of entrepreneurial behavior types, “ambitious entrepreneurship” recently emerged as a new research concept. Unfortunately, a systematic overview of what is known (and not known) about this topic is missing. In particular, insights into the various definitions, measures, and antecedents of ambitious entrepreneurship are lacking. In this chapter, we offer a state-of-the-art review and analysis of extant research on ambitious entrepreneurship. We structure the literature review by providing insights into antecedents of ambitious entrepreneurship, and extensively discuss the conceptualization and operationalization of this research concept. We clarify the differences between related concepts such as growth intention, expectation, and aspiration, and argue how all these concepts fit into a unifying framework of ambitious entrepreneurship. We summarize promising future research avenues for the study of ambitious entrepreneurship, both from a methodological and a conceptual point of view.

The purpose of this paper is to find out the extent to which governments of the Gulf Cooperation Council (GCC) countries play a moderating role in the relationship between entrepreneurship and economic growth.

The study uses a 10-year time series (2006-2015) for six GCC countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. Secondary sources of data were collected from The World Bank database, general available statistics on the GCC, the Global Entrepreneurship Index from the Global Entrepreneurship and Development Institute (GEDI) and the Global Entrepreneurship Monitor (GEM) database.

Results indicate that governmental support has a significant moderating effect on the relationship between entrepreneurship and economic growth in the GCC. Furthermore, the strongest indicators of entrepreneurial investments in the Gulf have been found to be risk capital and high growth, which indicate a rapid growth in entrepreneurial investments. The lowest scoring indicators were found to be technology absorption and innovation process.

Despite the necessary measures taken to assure standard results such as testing data validity, care should be taken when generalizing the research results mainly because the time series of the study (2006-2015) could have been affected by the International and Financial Crisis, though the study has taken this into consideration.

This study has clarified the significant role of GCC governments in moderating the relationship between entrepreneurship and economic growth. Thus, the findings of this study are important because they help the GCC governments recognize their significant role and hence to utilize this role by supporting new and existing entrepreneurs particularly through regulatory quality, risk capital, technology absorption and process innovation. Furthermore, this study proves the extent to which entrepreneurship can help enhance the GCC economic growth, hence elaborating the importance of the sustainable resource, such as the human capital, in achieving diversification of sources to move from an oil-based to a more diversified economy.

Entrepreneurship in the sport sector has become an important discussion topic amongst public policymakers in Finland, and the interface between entrepreneurial sport companies and the public sector is crucial in the development of sport entrepreneurship. The purpose of this paper is to discuss the entrepreneurial growth of two elite team sport companies in Finland by describing the entrepreneurial characteristics and organizational development affecting their growth. This paper aims at giving new insights into the discussion of growth entrepreneurship in small- and medium-sized enterprises (SME’s) in the team sport context.

A qualitative case study approach was chosen to best describe the phenomenon of entrepreneurial growth in top sport team SME’s.

The results indicate that the entrepreneurial growth in these two cases comes from entrepreneurial opportunities, growth orientation and growth ability. Industry-specific issues, organizational characteristics, a favorable operating environment, entrepreneurially oriented owner-entrepreneurs and the policymakers’ capability of supporting the growth have affected the success of these team sport enterprises.

This study is limited to the Finnish sport context and these studied cases.

This paper explains the entrepreneurial growth of two successful Finnish team sport enterprises and offers interesting insights for sport management and similar entrepreneurial sport enterprises in the industry.

This paper contributes to the discussion of sport entrepreneurship, and, especially, offers further understanding of growth entrepreneurship in SME.

The purpose of this paper is to investigate the mediation role of public governance in the relationship between entrepreneurship and economic growth in the United Arab Emirates (UAE).

To achieve this aim, the study uses a 20-year time series analysis (1996–2015) and tests the effect of entrepreneurship on economic growth, through public governance, via a mediator model.

The study has determined that public governance buoys the positive effect that entrepreneurship activities exert on economic growth in the UAE. Based on this determination, the study posits a set of recommendations that focus on supporting entrepreneurship activities that play a significant role in economic growth.

The study adds to the literature on the impact of entrepreneurship on economies dependent on oil revenues vis-à-vis a public policy perspective. The study provides insights into the type of entrepreneurship that most efficaciously suits the Emirati social and cultural milieu in terms of fostering national economic growth. In addition, the study limns a vision of the role of public governance in creating an enabling environment that stimulates entrepreneurial activity and, in turn, increases economic growth in the Emirates.

Entrepreneurial ecosystems have quickly become one of the most popular topics in entrepreneurship research. Ecosystems are the characteristics and factors of a place that support high-growth entrepreneurship. This provides the ability for the field to provide important policy insights about how to aid the development of high growth, innovative ventures, as well as generate new insights into the relationship between the entrepreneurship phenomenon and the contexts it takes place within. However, work in the field remains undertheorized, with a little understanding of how the entrepreneur benefits from being in a strong ecosystem. This chapter argues that it is helpful to return to Ed Malecki’s work in a previous volume of this series, which explored the importance of networks. His work has contributed to a very broad stream of work on entrepreneurial environment. Using this as a starting point, this chapter distinguishes between “top-down” approaches to study ecosystems, which focus on the actors and factors that make up an ecosystem, and a “bottom-up” approach, which instead examines the ways in which entrepreneurs use their ecosystem to get the resources, knowledge, and support they need. The chapter concludes by suggesting how a research agenda for a bottom-up study of ecosystems can be informed by Malecki’s work.

Three studies aimed to investigate the role of perceived value of entrepreneurial identity (i.e. one's evaluation of the worthiness of one's entrepreneurial role) in the relationship between motives for entrepreneurship and business growth motivation among small-business owners.

Two studies were conducted online (Studies 1 and 2) and one study in the field in Indonesia (Study 3); both employed a cross-sectional design with a mixed correlational and experimental approach.

Opportunity-based entrepreneurship, but not necessity-based entrepreneurship, was positively associated with perceived value of entrepreneurial identity. Perceived value of entrepreneurial identity was a positive predictor of future time perspective and growth-pursuit intentions. Study 2 further showed the potential of increasing the salience of both personal and others' positive views of one's business for increasing one's perceived value of their entrepreneurial identity.

The investigation of perceived value of entrepreneurial identity in this paper extends current knowledge regarding the mechanism through which motives for entrepreneurship predict business growth motivation.

The paper provides practitioners and policy-makers with useful insights into the importance of small-business owners' perceived value of entrepreneurial identity for business growth motivation, and offers suggestions on how to increase it.

The paper sheds light on the important role of perceived value of entrepreneurial identity in explaining the association between motives for entrepreneurship and business growth motivation.

The purpose of this paper revisits the effect of entrepreneurship on economic growth.

Using a cross-country panel data set of 61 countries in the period 2002–2014, this paper empirically analyzes the differences in contribution to economic growth. Particularly, using an extension of the Cobb–Douglas production function, the authors show the role of entrepreneurship in developed and developing economies. Global entrepreneurship monitor data were used to estimate the proposed types of entrepreneurship.

Results indicate that economic growth can be explained by growth-oriented entrepreneurship, including developing economies. These results remain robust to a variety of specifications that include economic, social and cultural controls, and two ways of sorting countries by stage of development.

The authors split the total entrepreneurial activity (TEA) according to job expectations, in order to isolate the effect of entrepreneurial activity that is growth oriented (dynamic) and not (regular). Lastly, the empirical application presented comprises a more adequate timeframe to analyze the proposed relationship, determining possible differences for developed and developing economies.

El presente documento analiza el efecto de la actividad emprendedora sobre el crecimiento económico.

Mediante el uso de un panel de 61 países durante el periodo 2002–2014, se analizan las diferencias en contribución del emprendimiento hacia el crecimiento económico. Particularmente, con el uso de una función de producción extendida al estilo Cobb–Douglas, se muestra el rol del emprendimiento en países desarrollados y en vías de desarrollo. Por último, para la generación de las diversas medidas de emprendimiento propuestas se utilizó datos del Global Entrepreneurship Monitor (GEM).

La evidencia proporcionada indica que el crecimiento económico podría ser explicado por el emprendimiento orientado al crecimiento. Los resultados han permanecido robustos ante varias especificaciones que incluyen variables de control de corte económico, social y cultural, así como dos maneras de dividir la muestra de países según su etapa de desarrollo.

Los autores separan la TEA según expectativas de empleo futuro, aislando el efecto de la actividad emprendedora que está orientada hacia el alto crecimiento (dinámico) y la que no (regular). Finalmente, La aplicación empírica presentada comprende un periodo de estudio más adecuado para el análisis planteado, y a su vez permite encontrar diferencias para países desarrollados y en vías.

The purpose of this paper is to investigate the link between Islamic finance for entrepreneurship activities and economic growth in Malaysia within the model of endogenous growth.

This study applied a parametric analysis represented by vector autoregression (VAR) Granger causality and a non-parametric analysis represented in the bootstrapped quantile regression to examine the effect of Islamic finance for entrepreneurship activities on economic growth within the model of endogenous growth. This paper used a sample of all Islamic banks working in Malaysia covering a period from 2014 first quarter until 2019 third quarter (2014Q1–2019Q3).

The findings demonstrated that Islamic finance for entrepreneurship activities are promoting economic growth in Malaysia which indicates that Islamic finance is a vital contributor to economic growth through financing entrepreneurial domains small and medium-sized enterprises.

The analysis in this paper would fill the literature gap by investigating the link between Islamic finance for entrepreneurship activities and economic growth within the model of endogenous growth in Malaysia as this study serves as a guide for the researchers and decision-makers to the necessity of merging Islamic finance as a major player in the economy to finance the entrepreneurial domain which contributes to economic growth.

This study is the first that investigates the relationship between Islamic finance for entrepreneurship activities and economic growth empirically using the causality and quantile regression within a new theoretical approach over the model of endogenous growth to provide a proven valuable experiment from Malaysia concerning Islamic finance for the entrepreneurial domain which promotes economic growth.