Framework for Sustainable Rural Development through Entrepreneurial Initiatives in Emerging Economies

Shahjahan Sarfraz Raja (), Valliappan Raju, Muhammad Husnain (), Sania Sarfraz, Fozia Malik and Shahnawaz Sarfraz Raja
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Shahjahan Sarfraz Raja: Post Graduate Centre, Limkokwing University of Creative Technology, Cyberjaya 63000, Malaysia
Valliappan Raju: Post Graduate Centre, Limkokwing University of Creative Technology, Cyberjaya 63000, Malaysia
Muhammad Husnain: Department of Business Administration, University of Sahiwal, Sahiwal 57000, Pakistan
Sania Sarfraz: Department of Management Sciences, Faisalabad Campus, National University of Modern Languages, Islamabad 44000, Pakistan
Fozia Malik: Department of Business Administration, Fatima Jinnah Women University, Rawalpindi 46000, Pakistan
Shahnawaz Sarfraz Raja: Department of Management Sciences, Capital University of Sciences and Technology, Islamabad 44000, Pakistan

Sustainability, 2022, vol. 14, issue 19, 1-32

Abstract: Sustainable rural development and higher income levels of a rural community can be achieved through indigenously owned resource-based corporations. The study aims to evolve the new economic model for the sustainable socio-economic development of rural areas by considering the entrepreneurial initiatives in emerging economies. It is an attempt to restore the pride of artificers and workmanship such as ‘mochi’ (cobbler), the lohar (ironsmith) the kumhar (potter) through interventions to rehabilitate their active role in creating a flexible, vibrant and responsive society. Therefore, it suggests a complete process to carry out the intervention in village communities of rural areas for their sustainable development. The entire model can be tested by collecting data from respondents; however, for this manuscript, the authors propose a solid framework with rationale. This study also proposes a model for the relevant literature named the ‘common prosperity model’. Furthermore, it has a variety of research dimensions that can be traced by the researchers, policymakers, interventionists, economists and sustainable rural development institutions.

Keywords: rural entrepreneurship; sustainable rural development; common prosperity; village entrepreneurial environment (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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