The impact of entrepreneurship on economic development through government policies and citizens’ attitudes

Abstract

This research aims to investigate the field of entrepreneurship in the context of public sector governance in eight of the largest economies in the world (the G7 countries and Russia). To analyse the composition and evolution of entrepreneurship, data from the Global Entrepreneurship Monitor was collected, while the economic stability was based on GDP data from the World Bank. To understand the relationships between the public sector governance policies and attitudes towards entrepreneurship in terms of economic development, the 2001-2018 period was considered. The relationships studied were observed through correlation and regression analyses, based on indexes obtained through principal component analysis. Results indicate that there are strong positive correlations between GDP and cultural and social norms promoted in society, total early-stage entrepreneurial activity, physical and services infrastructure, and tax and bureaucracy, while the fear of failure affects the GDP. Besides, this research emphasises the fact that individuals' entrepreneurial attitudes and behaviour may reduce the level of GDP, while the entrepreneurial framework developed by the public sector would have an important role in increasing economic stability.

Comparative Study on Selected Models of Entrepreneurship Education

“…It is desirable that the domains of entrepreneurship and education increase their collaboration with each other in the future, both within research and practice. Therefore, entrepreneurship education is most essential for the growth and development of economic sector (Vatavu et al, 2021). Many efforts have been taking place for economic growth with promotion of entrepreneurship development.…”

An international study of early-stage entrepreneurship using global entrepreneurship monitor data

“…The contribution of different forms of entrepreneurial activity, including those in the early stages, to economic change and renewal as well as employment creation, is recognised in socio-economics research (Stoica et al, 2020;Vatavu et al, 2022;Doran et al, 2018). Notably, Ressin's (2022) study confirmed a strong and favourable relationship between the upsurge in JSBED 30,7 business start-ups and the accomplishment of sustainable development goals in the institutional, social, environmental and economic spheres.…”

“…The contribution of different forms of entrepreneurial activity, including those in the early stages, to economic change and renewal as well as employment creation, is recognised in socio-economics research (Stoica et al. , 2020; Vatavu et al. , 2022; Doran et al.…”

Indigenious Entrepreneurship Behaviourand and Local Economic Development of Otuke Community

“…For decades, entrepreneurship has been part of the key drivers for economic development through public policy frameworks and entrepreneurial behaviour across the globe (Harper, 2003;Vatavu et al, 2022). The difference in economic development among the first, second and third-world countries is, to some extent, due to the level of entrepreneurial culture and behaviour of nations Accordingly, nations seeking sustainable socioeconomic development must engage in entrepreneurial behaviour.…”