Transforming South Asia's Economic Growth: Empowering Entrepreneurship through Technological Innovation, Financial Development, and Institutional Quality

Abstract

The focus of this study is to analyze the key elements that have a significant impact on the economic growth in South Asia, specifically the development of entrepreneurship, technological innovation, and the quality of institutions. Through meticulous analysis of annual data from 2010 to 2022, encompassing all South Asian countries except Afghanistan, a compelling correlation between entrepreneurship development, technological innovation, and the coveted economic prosperity is unveiled. These findings ignite a spark of inspiration, highlighting the pivotal roles of nurturing entrepreneurship and fostering technological advancements in driving sustainable economic growth in this vibrant region. However, the pressing need to address the barriers hindering progress cannot be overlooked. It becomes evident that enhancing financial development and institutional quality is crucial for unlocking South Asia's boundless potential. Equipped with practical policy formulations, governments and institutions can seize the opportunity to elevate these responsible factors and propel South Asia towards a future of unparalleled economic progress. JEL: O15; 033; P48; H55; G28