Entrepreneurship Factors Among Developed Countries and Emerging Regions

Potts Mark D (), Affholter Joseph A () and Harless Sydney ()
Additional contact information
Potts Mark D: Director of Personal Financial Planning Program College of Business Administration Central Michigan University
Affholter Joseph A: PhD AgBio Innovation Hub Director MSU Technologies, Michigan State University
Harless Sydney: BSBA Honors Student College of Business Administration, Central Michigan University

South East European Journal of Economics and Business, 2021, vol. 16, issue 2, 82-100

Abstract: The paper contributes to the understanding of entrepreneurial activity by assessing the relative importance of eight entrepreneurial readiness factors across countries in different regions and stages of economic development. Drawing on the literature, this paper identifies eight principle national entrepreneurial readiness factors (NERFs) as (1) business freedom; (2) investment freedom; (3) investor protection; (4) property rights protection; (5) technological readiness; (6) innovation; (7) freedom from corruption; and (8) access to risk capital. NERF country data is subjected to a linear regression analysis for each factor’s influence on the sum of all eight factors which is called a country’s National Entrepreneurial Readiness Value (NERV). Six South East European countries, eight South American countries, ten South East Asian countries, and six West African countries are compared against one another and the benchmark of the four largest G7 economies. Results of this analysis are presented and show that investor protection, property rights protection, and freedom from corruption are the most impactful entrepreneurial readiness factors. These findings present future research implications of how these results link to endowments and relate to improving entrepreneurial readiness.

Keywords: entrepreneurship; emerging markets; developing countries; developed countries (search for similar items in EconPapers)
JEL-codes: O57 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/jeb-2021-0016 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:16:y:2021:i:2:p:82-100:n:10

DOI: 10.2478/jeb-2021-0016

Access Statistics for this article

South East European Journal of Economics and Business is currently edited by Adnan Efendic, Vesna Babić-Hodović and Aziz Šunje

More articles in South East European Journal of Economics and Business from Sciendo
Bibliographic data for series maintained by Peter Golla ().