Entrepreneurship prompts institutional change in developing economies

Elert, Niklas; Henrekson, Magnus

doi:10.1007/s11138-020-00501-0

Cited by 19 publications

(23 citation statements)

References 123 publications

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“…As an analytical tool, it can be applied by academics and practitioners to criticize the field of social entrepreneurship (Agrawal, 2013). Entrepreneurial theory, social entrepreneurship, in particular, facilitated new institutional changes and transitions in economic development (Elert & Henreksona, 2020). This approach is also a resource factor that fills deficiencies that institutions cannot perform (Prasetyo, 2020a).…”

Section: Literature Reviewmentioning

confidence: 99%

The role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness

Prasetyo¹,

Setyadharma²,

Kistanti³

2022

10.5267/j.uscm

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Institutional potential plays a key role in creating business opportunities. However, past studies did not emphasize on the consistency and the interaction between institutional and entrepreneurial potential-shaping factors. This research aimed to explore the role of these two aspects in spotting market gaps and encouraging competitiveness. Mixed methods were used, with basic concepts focusing on new institutional economic theory. The results showed that standardization, commercialization, technology, productivity, invention, social capital, and human capital strengthened institutional potential and social entrepreneurship. This created more ventures and encouraged competition. However, there is a need to eliminate institutional barriers to improve the efficiency and productivity of the socio-cultural-economic systems.

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Section: Literature Reviewmentioning

confidence: 99%

The role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness

Prasetyo¹,

Setyadharma²,

Kistanti³

2022

10.5267/j.uscm

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“…Entrepreneurship in Uganda is further negatively affected by the intertwined political and economic institutions monopolized by individual with political networks and information (Elert and Henrekson, 2020). Political institutions and the market do not function independently to create a free market as Knight theorized.…”

Section: L2: the Rules Of The Gamementioning

confidence: 99%

Knight, financial institutions, and entrepreneurship in developing economies

Nabisaalu

Bylund

2021

Journal of Institutional Economics

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Financial institutions in developing economies fail to provide entrepreneurs with access to finance to grow their businesses. This severely hampers economic development in these countries. We seek to explain why and develop an argument and model based on Knight's theory, which we augment in two ways. First, by describing problems embedded in financial institutions of developing economies, for which we use the Schumpeterian view that creative destruction requires new credit to fund entrepreneurial disruption and de Soto's finding that undocumented assets possessed by entrepreneurs in developing economies cannot be leveraged as collateral to access finance. Second, we use Williamson's hierarchical institutional model to distinguish vertical interactions. The model is illustrated using the case of Uganda, a developing country in Eastern Africa. Our analysis finds that Uganda suffers from intertwined and misaligned formal and informal institutions, limited extent of codified property, and sparse access to finance. The findings prompt policymakers in developing economies to consider problems with and within financial institutions.

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“…Safaricom has created thousands of jobs to the jobless youths and has been engaging in innovations through entrepreneurship to expand its annual financial turnover. Through Safaricom products, many people use its products as a business, including partnering with SMEs to improve their business capacities, and consequently their welfare and livelihoods (Jelassi & Martínez-López, 2020;Elert & Henrekson, 2020& Elsner, 2021. The leading service within SME is agent banking that has partnered with Safaricom for money transfer.…”

Section: Safaricom Success Story Of M-pesa and Smesmentioning

confidence: 99%

Green Innovation Enterprises and Environmental Entrepreneurship for Poverty Alleviation in Kenya

Ngare¹

2021

Preprint

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World Economy today depends on business investments that are propelled by Green technology, innovations and entrepreneurial activities. In recent years, developing economies in Asia, Africa and Latin America have embarked on easy capital access to Small Medium Enterprises (SMEs) to facilitate their economic growth. Kenya is among the Middle Level Income Countries that have gained global recognition through entrepreneurial innovations. In this study we assess the role of entrepreneurship towards poverty alleviation in Kenya. The objectives of the study were: to evaluate the role of entrepreneurship in poverty alleviation in Kenya; to identify entrepreneurship innovations and their economic contribution in Kenya and to determine the significance of entrepreneurship to Kenyan economy. Methodology of study took a parametric approach through pure desktop studies on entrepreneurship cases in Kenya. Success case studies of entrepreneurial innovations like M-pesa, M-soko and Uwezo Fund initiatives were assessed. The paper notes that activities undertaken in each of these case studies have made great contributions to poverty alleviation and economic development in both urban and rural areas of Kenya.

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Entrepreneurship prompts institutional change in developing economies

Cited by 19 publications

References 123 publications

The role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness

The role of institutional potential and social entrepreneurship as the main drivers of business opportunity and competitiveness

Knight, financial institutions, and entrepreneurship in developing economies

Green Innovation Enterprises and Environmental Entrepreneurship for Poverty Alleviation in Kenya

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