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The primary driver of this study is to find out key indicators of Entrepreneurial Capability milieu and test these components empirically in the Association with South East Asian Nations-05 economies. The purpose of this study is twofold. Firstly, it attempts to understand the determinants of Entrepreneurial Capability which identifies and endeavor commercial opportunities in the Association of South East Asian Nations 05 economies, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand. Secondly, using the theory and determinants of entrepreneurial capability in general, this study empirically tests the efficiency imperative coefficients of variables that have an impact on entrepreneurial perceived capabilities. This research applies recent consistent estimation of log linear transformation stochastic frontier model to find out time-variant changes of variables in the panel sample. Data and variables have collected from Global Entrepreneurship Monitor-2016 and World Competitiveness Yearbook-2016 during the years 2010-2016. The results suggest that Entrepreneurship as a Good Career Choice and Perceived Opportunities are two significant variables which can improve and have a positive influence on entrepreneurial capability while Fear of failure rate has a negative impact on the efficiency of entrepreneurial capability in the Association of South East Asian Nations-05 countries. Other important variables such as Intellectual Property Rights, University Education and Knowledge Transfer rate have a positive stimulus to the entrepreneurial capability environment in these economies. The findings of this study are important contributions to the entrepreneurship literature and help policymakers to rethink entrepreneurial capability settings of the Association of South East Asian Nations-05 countries to pursue an innovation-driven region in future.

The entrepreneurial capability (EC) environment of a given local or regional system refers to a set of social and economic factors that exert influence on entrepreneurial processes occurring within said system. To this end, the goal of the currently presented work is to determine and empirically validate the said EC factors in relation to the entrepreneurial environments of the Association of South East Asian Nations (ASEAN)-5, namely Indonesia, Thailand, Singapore, Malaysia, and the Philippines, both at the regional and national levels. For this purpose, the presented research adapted the entrepreneurial perceived capabilities framework to first investigate the key determinants of EC that affect key entrepreneurial processes, such as the seeking of new opportunities and the decision to venture into new commercial opportunities, within the context of ASEAN-5 economies. Next, the identified variables were empirically tested via an examination of their coefficients in relation to their impact on entrepreneurial perceived capabilities. Succinctly, the current work applied recent consistent estimation of panel bootstrap random-effects model to determine time variant changes with respect to the studied variables in the panel sample. The data used in the current work was obtained from the Global Entrepreneurship

PurposeThe purpose of this study is to look at the United Arab Emirates’ (UAE's) progress toward economic diversification and becoming a knowledge-based economy.Design/methodology/approachThe World Development Indicators (WDI) and GlobalEconomy websites provided all secondary data for this paper. The data are largely used to highlight the UAE's current level of diversification and, consequently, the atmosphere for a knowledge economy transition necessary for sustainable development. Additionally, the study conducts a nonparametric estimation using DEA to identify the condition of four variables pertaining to the UAE's knowledge economy. The Herfindahl-Hirschman index (HHI) was utilized empirically in this study to determine the current state of diversity.FindingsAccording to this research, the UAE economy was reasonably diverse until recently. The number of patents and journal papers published per resident both add to the UAE's GDP. Furthermore, the UAE's information and communication technology (ICT) exports are inconsistent; a declining trend in the number of researchers and the education sector's continuous struggles are major concerns. Furthermore, Figure 1 in the introduction reinforces this conclusion by noting that construction and building remained the greatest employer of labor throughout the time period. This is a significant finding because, as illustrated in this research, low labor force participation in the education sector, combined with lower citizen participation in advanced education in the UAE, results in low scientific research and publications, with low knowledge output as patent applications. In general, the majority of the UAE's population is expat, and the extent to which locals and expats contribute to the overall advancement of education remains an open question. According to the data envelopment analysis (DEA) model, three variables in the knowledge economy are productive, and they are economic incentive and institutional regime, innovation systems and ICT. The findings of this article will aid policymakers in the UAE, and more generally in the Gulf Cooperation Council (GCC) region, in developing more successful policies that help in the growth of a knowledge- and innovation-based economy.Practical implicationsThis study is appropriate for UAE economic policymakers to monitor the state and policies required for the UAE's transition to a knowledge economy.Originality/valueThis issue has rarely been addressed by the use of robust parametric and nonparametric processes, as well as robust data visualization tools.

Since its independence in 1984, the government of Brunei Darussalam has made economic diversification as its prime economic agenda to decrease its heavy dependence on oil and gas industry. The oil and gas industry has significantly contributed in the present level of economic prosperity of this small nation of 0.4 million people. However, being a very capital intensive industry it offers few job opportunities. The majority of the local population relies on better paid government jobs in the non-oil sector. As the rate of growth of new employment opportunities created in the public sectors remains far lower than the rate of growth of local labor force, more and more people must be employed by the private sector. However, a small private sector largely consisting of small service enterprises paying lower wages fails to attract local labor force. The result is a continuous increase in the rate of unemployment among locals now standing at over 12%. This paper will review government's efforts in diversifying its economy to reduce its vulnerability in revenue generation and create jobs for its increasing labor force. Based on a review the paper will suggest some possible solutions that could be considered by the government and the civil society of Brunei Darussalam.