The process of sustainable entrepreneurship: a multi-country analysis

Sara Proença () and Elias Soukiazis ()
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Sara Proença: Polytechnic Institute of Coimbra/ESAC, CERNAS, Bencanta, 3045-601
Elias Soukiazis: University of Coimbra

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2023, vol. 25, issue 10, No 19, 10995-11010

Abstract: Abstract Sustainable entrepreneurship links entrepreneurial activities to the achievement of sustainable development in its three dimensions: economic prosperity, social equity, and environmental protection. This paper aims to explain the process of sustainable entrepreneurship, by providing empirical evidence on the interconnections between entrepreneurial activity, economic development measured by the human development index, and greenhouse gas emissions as a proxy for environmental quality. The interrelationship between these core variables is described by a cyclical process with feedback effects that makes the system self-sustaining. A simultaneous equation system is estimated based on the 3sls approach that takes into control the endogeneity of regressors and the error correlation across equations. The empirical findings support the cyclical process involving entrepreneurial activity, human development level, and environmental quality. From a policy perspective, results highlight the central role of entrepreneurship as a driving force for change and sustainable development. Decision makers should engage in supporting innovative and sustainable entrepreneurial activities, but also reducing the barriers in the macroeconomic environment and improving human capital skills, including entrepreneurial competencies.

Keywords: Sustainable entrepreneurship; Human development index; Environmental quality; Simultaneous equation system; Panel data (search for similar items in EconPapers)
JEL-codes: C33 O11 Q01 Q56 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10668-022-02515-z

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