Влияние предпринимательства на экономическое развитие в развитых и развивающихся странах G-20 / The Impact of Entrepreneurship on Economic Development in Developed and Developing G-20 Countries
Аннотация
Entrepreneurship is an important component of a market economy, it has a direct impact on economic growth rates and GDP structure, saturates the market with goods and services, and fills economic niches that large enterprises cannot fill. Every year economists focus their attention on identifying factors that contribute to economic development. And recent studies have viewed entrepreneurship as one of the key variables contributing to economic growth, since entrepreneurship can increase the welfare of a country because more goods and services are produced, which increases employment. For this reason, various measures have been developed to increase entrepreneurial activity.
This research is relevant because at present, the problem of accelerating economic development is at the top of the political and economic agenda of the major world powers. For states, this problem is especially pronounced in conditions of aggravation of global challenges, detection of fundamental contradictions in the interests of major world powers. On whether a certain country can generate a sufficient mass of material goods and scientific product, develop the most advanced technology, depends entirely on the defense capability and solvency of the state, striving to preserve its sovereignty. Under these conditions, the problem of ensuring a country's economic growth is characterized in terms of national security.
The diploma deals with the impact of entrepreneurship on economic development: a comparative analysis in developed and developing G-20 countries. The aim of this thesis is to compare the impact of entrepreneurship on the economic development of developed and developing G20 countries. Object of the research is the nexus between economic development and entrepreneurship. Subject is a comparative analysis of the impact of entrepreneurship on economic development in developed and developing G-20 countries.
The hypothesis is that entrepreneurship cannot be regarded as a universal tool for economic development, it is important to first assess how different motivations for entrepreneurship (necessity-driven, improvement-driven opportunity) and different types of entrepreneurship (nascent, new, established) in general affect the economy of countries at different stages of economic development.
The study is based on statistical data from World Bank's World Development Indicators (WDI) database and GEM (Global Entrepreneurship Monitoring) reports.
For this research data from nineteen (19) countries for the period 2012-2021were collected and analyzed using econometric techniques for panel data (fixed effect, random effect) and the Chow test.
The methodological basis consisted of the works of scientists on the topics of economic development and entrepreneurship. Considered the meanings attributed to the term "entrepreneurship" and given specific understanding of this term, which will be used in this study. One of the results of the analysis is that the author concluded that entrepreneurship in general does not play a key role for economic development in developing countries, regardless of what stage this entrepreneurship is at (nascent, new or established) or what motivates it (need or improved opportunities).
This thesis also includes an analysis of Sustainable Development Goal (SDG) 8, "Decent Work and Economic Growth," which is directly related to the topic of this study. This study will also details are described the relationships between SDG 8 and the other Sustainable Development Goals. The main conclusions from this analysis will be that countries have room to grow and develop within the framework of the SDGs and the relationship of the Sustainable Development Goals is almost always ambiguous, as subgoals of one SDG may negatively affect another and vice versa, but it is important to remember the long-term perspective and the true ultimate goal.
The main conclusion of the study is that developing countries need to start not from the current strategy of developed countries, but from how they arrived at it in the previous stage of development and adapt this strategy to modern realities. Therefore, it would be more correct for developing countries to stimulate other determinants of economic development that always have a positive impact, such as research and development spending, as this would stimulate their economic development much better. Then people will not grasp entrepreneurship out of necessity or because of vague ideas about success, they will become more educated, living standards will improve, and they themselves will be able to go and recognize these opportunities for entrepreneurial activity, then entrepreneurship will already be motivated to improve opportunities in these countries, and together with the development of other listed determinants, will promote economic development.
We can suggest to macroeconomic policymakers in developing countries that the development of entrepreneurship in general should not be seen as a universal solution to economic development. In other words, in this case they should work on at least all the aspects that make up the NECI indicator, which in parallel will itself improve the entrepreneurial environment, develop knowledge about entrepreneurship so that people can recognize market opportunities.
This research is relevant because at present, the problem of accelerating economic development is at the top of the political and economic agenda of the major world powers. For states, this problem is especially pronounced in conditions of aggravation of global challenges, detection of fundamental contradictions in the interests of major world powers. On whether a certain country can generate a sufficient mass of material goods and scientific product, develop the most advanced technology, depends entirely on the defense capability and solvency of the state, striving to preserve its sovereignty. Under these conditions, the problem of ensuring a country's economic growth is characterized in terms of national security.
The diploma deals with the impact of entrepreneurship on economic development: a comparative analysis in developed and developing G-20 countries. The aim of this thesis is to compare the impact of entrepreneurship on the economic development of developed and developing G20 countries. Object of the research is the nexus between economic development and entrepreneurship. Subject is a comparative analysis of the impact of entrepreneurship on economic development in developed and developing G-20 countries.
The hypothesis is that entrepreneurship cannot be regarded as a universal tool for economic development, it is important to first assess how different motivations for entrepreneurship (necessity-driven, improvement-driven opportunity) and different types of entrepreneurship (nascent, new, established) in general affect the economy of countries at different stages of economic development.
The study is based on statistical data from World Bank's World Development Indicators (WDI) database and GEM (Global Entrepreneurship Monitoring) reports.
For this research data from nineteen (19) countries for the period 2012-2021were collected and analyzed using econometric techniques for panel data (fixed effect, random effect) and the Chow test.
The methodological basis consisted of the works of scientists on the topics of economic development and entrepreneurship. Considered the meanings attributed to the term "entrepreneurship" and given specific understanding of this term, which will be used in this study. One of the results of the analysis is that the author concluded that entrepreneurship in general does not play a key role for economic development in developing countries, regardless of what stage this entrepreneurship is at (nascent, new or established) or what motivates it (need or improved opportunities).
This thesis also includes an analysis of Sustainable Development Goal (SDG) 8, "Decent Work and Economic Growth," which is directly related to the topic of this study. This study will also details are described the relationships between SDG 8 and the other Sustainable Development Goals. The main conclusions from this analysis will be that countries have room to grow and develop within the framework of the SDGs and the relationship of the Sustainable Development Goals is almost always ambiguous, as subgoals of one SDG may negatively affect another and vice versa, but it is important to remember the long-term perspective and the true ultimate goal.
The main conclusion of the study is that developing countries need to start not from the current strategy of developed countries, but from how they arrived at it in the previous stage of development and adapt this strategy to modern realities. Therefore, it would be more correct for developing countries to stimulate other determinants of economic development that always have a positive impact, such as research and development spending, as this would stimulate their economic development much better. Then people will not grasp entrepreneurship out of necessity or because of vague ideas about success, they will become more educated, living standards will improve, and they themselves will be able to go and recognize these opportunities for entrepreneurial activity, then entrepreneurship will already be motivated to improve opportunities in these countries, and together with the development of other listed determinants, will promote economic development.
We can suggest to macroeconomic policymakers in developing countries that the development of entrepreneurship in general should not be seen as a universal solution to economic development. In other words, in this case they should work on at least all the aspects that make up the NECI indicator, which in parallel will itself improve the entrepreneurial environment, develop knowledge about entrepreneurship so that people can recognize market opportunities.