نوع مقاله : مقالات پژوهشی
نویسندگان
1 کارشناسی ارشد مدیریت کارآفرینی، دانشگاه گنبدکاووس
2 استادیار اقتصاد، دانشگاه گنبدکاووس
چکیده
چکیده
در این پژوهش، تأثیر متقابل شاخصهای آزادی اقتصادی (حاکمیت قانون، اندازه دولت، کارایی قوانین و مقررات و بازارهای باز) و کارآفرینی بر رشد اقتصادی در نمونهای شامل 66 کشور منتخب درحال‌توسعه و توسعهیافته برای دوره زمانی 2018-2010 بررسی میشود. هدف، ارزیابی چگونگی و میزان تأثیرگذاری شاخصهای آزادی بر رشد اقتصادی کشورهای منتخب از کانال فعالیتهای کارآفرینانه است. مدل تحقیق با استفاده از دادههای تابلویی و با رویکرد گشتاورهای تعمیم‌یافته (GMM) برآورد گردید. یافتهها حاکی از آن است که تأثیر متقابل کارآفرینی و شاخصهای آزادی اقتصادی کل، حاکمیت قانون، کارایی قوانین و مقررات و بازارهای باز بر رشد اقتصادی در هر دو گروه از کشورهای منتخب مثبت و معنادار بوده است. این نتایج گویای آن است که درجه بالاتر آزادی اقتصادی از طریق افزایش فعالیتهای کارآفرینانه میتواند به رشد اقتصادی بالاتر بینجامد. همچنین، تأثیر متقابل کارآفرینی و اندازه دولت در کشورهای توسعهیافته مثبت و در کشورهای درحال‌توسعه معنادار نشده است که بیانگر تأثیر متفاوت هزینههای مختلف دولت بر رشد اقتصادی است. علاوهبراین، نتایج نشان داد که تأثیر کارآفرینی بر رشد اقتصادی در کشورهای توسعهیافته مثبت و معنادار و در کشورهای درحال‌توسعه منفی و معنادار بوده است. درنتیجه، بهمنظور ایجاد محیط کسبوکار مناسب برای توسعة فعالیتهای کارآفرینانه، سیاست‌گذاری دولتها باید در جهت بهبود آزادی اقتصادی از طریق تدوین قوانین مناسب جهت تسهیل سرمایهگذاری، تشویق سرمایهگذاری خارجی، کاهش تعرفهها و رفع موانع غیرتعرفهای باشد. کاهش دخالت دولت در سیستم بانکی، کاهش نرخ مالیات بر درآمد افراد و شرکتها، انعطاف در قوانین در بازار کار، استقلال دستگاه قضایی و نهایتاً کاهش میزان فساد از دیگر اقدامات ضروری است تا زمینه رشد کسبوکارها و فعالیتهای کارآفرینی فراهم شده و متعاقباً موجب بهبود و ارتقای رشد اقتصادی شود.
کلیدواژه‌ها
عنوان مقاله [English]
The Interaction of Economic Freedom and Entrepreneurship on Economic Growth in Selected Countries
نویسندگان [English]
- Marjan Zamani 1
- Mohsen Mohammadi Khyareh 2
- Reza Mazhari 2
1 MA Student of Entrepreneurship Management, Gonbad Kavous University
2 Asistant Professor of Economics, Gonbad Kavous University
چکیده [English]
Extended abstract
1- INTRODUCTION
The recent global crisis and the emergence of widespread unemployment and declining economic growth in many economies have increased the importance of self-employment and entrepreneurial activities. in addition, in order to alleviate the government's responsibility in elimination of unemployment and developing entrepreneurship, various measures and policies have been considered to ensure the success of entrepreneurs, the most important of which is to establish an appropriate institutional framework to ensure the success of entrepreneurs. when formulating institutional policies support entrepreneurship then entrepreneurship can play an important role in national economic growth and development (Bjørnskov & Foss, 2013; Baumol & Strom, 2007; Levie et al., 2014). it should be noted, that in order for entrepreneurial activity to lead to economic growth, entrepreneurs must operate freely without worrying about government or others violating private property rights. entrepreneurs in a free market react to market incentives and price signals, and this leads to an efficient market trend. thus, just as countries provide more economic freedom by protecting private property, reducing regulations and taxes, and limiting rent-seeking opportunities. this leads to better institutional quality, which in turn promotes productive entrepreneurship and enhances economic growth and development (Gwartney & Lawson, 2009; Wiseman & Young; 2013). in fact, it can be concluded that the decision for entrepreneurial activity depends to some extent on whether the institutions support economic freedom or not. in other words, where there is no rigid government control, the conditions are right for an entrepreneurial business culture to emerge. however, this is not the case in many economies because the institutions that are supposed to promote entrepreneurial activities, on the contrary, restrict entrepreneurial activities. therefore, the main purpose of this study is to investigate the impact of economic freedom and entrepreneurial activities on economic growth in selected developing and developed countries.
2- THEORETICAL FRAMEWORK
The importance of the role of institutions in the relationship between entrepreneurship and economic growth has been studied in many studies (Acs et al., 2018; Bjørnskov & Foss, 2016). The findings of these studies indicate that the quality of institutions is a factor in encouraging productive entrepreneurship and a barrier to unproductive entrepreneurship; this, in turn, leads to higher economic growth. Market-supporting institutions (such as economic freedom and competitiveness) lead to higher rates of entrepreneurial activity, and increased entrepreneurial activity leads to greater economic growth (Urbano & Alvarez, 2014). Furthermore, the results of the research indicate that some of these differences are due to the diversity of types of entrepreneurships, the characteristics of the macroeconomic environment or the different institutional conditions in which entrepreneurs operate. On the one hand, in an economy with higher levels of institutional quality, the rate of entrepreneurship as one of the main factors increases economic growth. But on the other hand, in economies with low institutional quality, unproductive entrepreneurial activities take shape. That will have little or no negative impact on economic growth. Therefore, this insight can be used to understand and explain why entrepreneurial activities in some countries have strengthened economic growth but in some other countries have not encouraged economic growth.
3- METHODOLOGY
The purpose of this study is to investigate the interaction between entrepreneurial activities and indicators of economic freedom on economic growth in selected developing countries for the period 2010-2018. the statistical population consists of 33 developed countries and 33 developing countries. the selection of countries is based on the availability of data.
One of the main challenges in the empirical test of the impact of institutions on economic growth is the endogenous nature of institutional variables. one of the suitable econometric methods to solve or reduce the problem of endogeniety of institutional indicators and correlations between institutional variables and other explanatory variables is model estimation using gmm approach of dynamic panel data. therefore, in the present study, GMM modeling has been used to examine the relationship between entrepreneurship, economic freedom and economic growth.
4- RESULTS & DISCUSSION
The results generally indicate that the interaction between entrepreneurship and indicators of total economic freedom, rule of law, efficiency of laws and regulations and open markets on economic growth in both groups of selected countries has been positive and significant. also, the interaction between government size and entrepreneurship in developed countries has been positive and significant, but has not been significant in developing countries. also, according to the model results, economic freedom in developing countries has had a greater impact on economic growth, but this effect has been weaker in the group of developed countries. because in developing countries with less economic freedom and more unemployment potential, improving freedom indicators will increase people's motivation for entrepreneurial activities and thus higher economic growth. in addition, the results indicate that the impact of entrepreneurship on economic growth has been positive in developed countries and negative in developing countries.
5- CONCLUSIONS & SUGGESTIONS
In this study, the interaction effect of economic freedom entrepreneurship on economic growth in two selected groups of developing and developed countries was investigated. according to results, the following suggestions are presented:
Government policy should be taken to improve the index of economic freedom by enacting appropriate laws to facilitate investment, encourage foreign direct investment, remove restrictions on access to foreign currency, reduce tariffs appropriately, and remove non-tariff barriers.
Given the different impact of entrepreneurial activities in the two groups of countries under study, in expressing the belief that entrepreneurship always encourages economic growth, the aspect of caution should be considered. in fact, since most of the entrepreneurial activities in developing countries are of the necessity type, entrepreneurship has a negative relationship with economic growth in these countries. as a result, policymakers need to promote opportunity-based entrepreneurial activities by implementing policies such as improving institutional quality, providing the right business environment, and increasing the convenience of businesses.
کلیدواژه‌ها [English]
- Economic Freedom
- Rule of Law
- Government Size
- Regulatory Efficiency
- Open Markets
Acs, Z. J., & Varga, A. (2005). Entrepreneurship, agglomeration, and technological change. Small business economics, 24(3), 323-334.
Acs, Z. J., Audretsch, D. B., Braunerhjelm, P., & Carlsson, B. (2012). Growth and entrepreneurship. Small Business Economics, 39(2), 289-300.
Acs, Z. J., Braunerhjelm, P., Audretsch, D. B., & Carlsson, B. (2009). The knowledge spillover theory of entrepreneurship. Small business economics, 32(1), 15-30.
Acs, Z. J., Desai, S., & Hessels, J. (2008). Entrepreneurship, economic development, and institutions. Small business economics, 31(3), 219-234.
Acs, Z. J., Estrin, S., Mickiewicz, T., & Szerb, L. (2017). Institutions, entrepreneurship, and growth: the role of national entrepreneurial ecosystems. Available at SSRN 2912453.
Acs, Z. J., Estrin, S., Mickiewicz, T., & Szerb, L. (2018). Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective. Small Business Economics, 51(2), 501-514.
Al-Gasaymeh, A., Almahadin, A., Alshurideh, M., Al-Zoubid, N., & Alzoubi, H. (2020). The role of economic freedom in economic growth: evidence from the MENA region. International Journal of Innovation, Creativity and Change, 13(10), 759-774.
Aparicio, S., Urbano, D., & Audretsch, D. (2016). Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence. Technological forecasting and social change, 102, 45-61.
Asongu, S. A. (2014). Law, finance and investment: does legal origin matter in Africa? The Review of Black Political Economy, 41(2), 145-175.
Baltagi, B. (2008). Econometric analysis of panel data. John Wiley & Sons.
Baumol, W. J., & Strom, R. J. (2007). Entrepreneurship and economic growth. Strategic entrepreneurship journal, 1(3‐4), 233-237.
Behvar, S., Naderi, N., Fattahi, S. (2019). Economic Freedom and Innovative Entrepreneurial Activity. Innovation Management Journal, 8(2), 1-20. (In Persian)
Bennett, D. L., & Nikolaev, B. (2019). Economic Freedom. Economic Freedom of the World, 199.
Besley, T., & Ghatak, M. (2010). Property rights and economic development. In Handbook of development economics (Vol. 5, pp. 4525-4595). Elsevier.
Bjørnskov, C., & Foss, N. (2013). How strategic entrepreneurship and the institutional context drive economic growth. Strategic Entrepreneurship Journal, 7(1), 50-69.
Bjørnskov, C., & Foss, N. J. (2008). Economic freedom and entrepreneurial activity: Some cross-country evidence. Public Choice, 134(3-4), 307-328.
Bjørnskov, C., & Foss, N. J. (2016). Institutions, entrepreneurship, and economic growth: what do we know and what do we still need to know? Academy of Management Perspectives, 30(3), 292-315.
Blanchflower, D. G., & Oswald, A. J. (1998). What makes an entrepreneur? Journal of labor Economics, 16(1), 26-60.
Bosma, N., Sanders, M., & Stam, E. (2018). Institutions, entrepreneurship, and economic growth in Europe. Small Business Economics, 51(2), 483-499.
Boudreaux, C. J. (2014). Jumping off the Great Gatsby curve: how institutions facilitate entrepreneurship and intergenerational mobility. Journal of Institutional Economics, 10(2), 231-255.
Boudreaux, C. J., & Nikolaev, B. (2019). Capital is not enough: opportunity entrepreneurship and formal institutions. Small Business Economics, 53(3), 709-738.
Boudreaux, C., & Nikolaev, B. (2017). Entrepreneurial traits, institutions, and the motivation to engage in entrepreneurship. In Academy of Management Proceedings (Vol. 2017, No. 1, p. 16427). Briarcliff Manor, NY 10510: Academy of Management.
Bowen, H. P., & De Clercq, D. (2008). Institutional context and the allocation of entrepreneurial effort. Journal of International Business Studies, 39(4), 747-767.
Bradley, S. W., & Klein, P. (2016). Institutions, economic freedom, and entrepreneurship: The contribution of management scholarship. Academy of Management Perspectives, 30(3), 211-221.
Braunerhjelm, P., Acs, Z. J., Audretsch, D. B., & Carlsson, B. (2010). The missing link: knowledge diffusion and entrepreneurship in endogenous growth. Small Business Economics, 34(2), 105-125.
Braunerhjelm, P., Ding, D., & Thulin, P. (2018). The knowledge spillover theory of intrapreneurship. Small business economics, 51(1), 1-30.
Bryman, A., & Cramer, D. (2012). Quantitative data analysis with IBM SPSS 17, 18 & 19: A guide for social scientists. Routledge.
Carlsson, F., & Lundström, S. (2002). Economic freedom and growth: Decomposing the effects. Public choice, 112(3), 335-344.
Carree, M. A., & Thurik, A. R. (2008). The lag structure of the impact of business ownership on economic performance in OECD countries. Small Business Economics, 30(1), 101-110.
Carree, M. A., & Thurik, A. R. (2010). The impact of entrepreneurship on economic growth. In Handbook of entrepreneurship research (pp. 557-594). Springer, New York, NY.
Chowdhury, F., Terjesen, S., & Audretsch, D. (2015). Varieties of entrepreneurship: institutional drivers across entrepreneurial activity and country. European Journal of Law and Economics, 40(1), 121-148.
Coleman, J. S. (1990). Foundations of Social Theory. Cambridge, MA: Belknap Press of Harvard University Press.
Dean, T. J., & McMullen, J. S. (2007). Toward a theory of sustainable entrepreneurship: Reducing environmental degradation through entrepreneurial action. Journal of business venturing, 22(1), 50-76.
Doran, J., McCarthy, N., & O’Connor, M. (2018). The role of entrepreneurship in stimulating economic growth in developed and developing countries. Cogent Economics & Finance, 6(1), 1442093.
Dvouletý, O., Gordievskaya, A., & Procházka, D. A. (2018). Investigating the relationship between entrepreneurship and regional development: Case of developing countries. Journal of Global Entrepreneurship Research, 8(1), 16.
Grilo, I., & Thurik, R. (2005). Latent and actual entrepreneurship in Europe and the US: some recent developments. The International Entrepreneurship and Management Journal, 1(4), 441-459.
Gwartney, J., & Lawson, R. (2009). Economic Freedom Dataset, published in Economic Freedom of the World: 2009 Annual Report.
Gwartney, J., Lawson, R., & Norton, S. (2008). Economic freedom of the world: 2008 annual report. The Fraser Institute.
Hall, J. C., & Sobel, R. S. (2008). Institutions, entrepreneurship, and regional differences in economic growth. Southern Journal of Entrepreneurship, 1(1).
Heckelman, J. C. (2000). Economic freedom and economic growth: A short-run causal investigation. Journal of Applied Economics, 3(1), 71-91.
Iamsiraroj, S. (2016). The foreign direct investment–economic growth nexus. International Review of Economics & Finance, 42, 116-133.
Kacprzyk, A. (2016). Economic freedom–growth nexus in European Union countries. Applied Economics Letters, 23(7), 494-497.
Klapper, L., Amit, R., & Guillén, M. F. (2010). Entrepreneurship and firm formation across countries. In International differences in entrepreneurship (pp. 129-158). University of Chicago Press.
Klapper, L., Laeven, L., & Rajan, R. (2006). Entry regulation as a barrier to entrepreneurship. Journal of financial economics, 82(3), 591-629.
Krasniqi, B. A., & Desai, S. (2016). Institutional drivers of high-growth firms: country-level evidence from 26 transition economies. Small Business Economics, 47(4), 1075-1094.
Lepojevic, V., Djukic, M. I., & Mladenovic, J. (2016). Entrepreneurship and economic development: A comparative analysis of developed and developing countries. Facta Universitatis, Series: Economics and Organization, 17-29.
Levie, J., & Autio, E. (2011). Regulatory burden, rule of law, and entry of strategic entrepreneurs: An international panel study. Journal of Management Studies, 48(6), 1392-1419.
Levie, J., Autio, E., Acs, Z., & Hart, M. (2014). Global entrepreneurship and institutions: an introduction. Small business economics, 42(3), 437-444.
Mankiw, N. G., Romer, D., & Weil, D. N. (1992). A contribution to the empirics of economic growth. The quarterly journal of economics, 107(2), 407-437.
McMullen, J. S., Bagby, D. R., & Palich, L. E. (2008). Economic freedom and the motivation to engage in entrepreneurial action. Entrepreneurship Theory and Practice, 32(5), 875-895.
Minniti, M. (2008). The role of government policy on entrepreneurial activity: productive, unproductive, or destructive? Entrepreneurship theory and Practice, 32(5), 779-790.
Minniti, M., & Lévesque, M. (2008). Recent developments in the economics of entrepreneurship. Journal of Business Venturing, 23(6), 603-612.
Mohammadzadeh, Y., Hekmati Farid, S., Miraliashrafi, K. (2016). The effect of economic freedom on entrepreneurship development in selected countries. Journal of Entrepreneurship Development, 9(2), 357-376. )In Persian(
Nadiri, M., mohammadi, T. (2011), Estimating an Institutional Structure in Economic Growth Using GMM Dynamic Panel Data Method, Economic Modeling, 5(15), 1-24. (In Persian)
North, D. C. (1990). Institutions, institutional change, and economic performance. Cambridge university press.
North, D. C. (1994). Economic performance through time. The American economic review, 84(3), 359-368.
Nyström, K. (2008). The institutions of economic freedom and entrepreneurship: evidence from panel data. Public choice, 136(3-4), 269-282.
Román, C., Congregado, E., & Millán, J. M. (2013). Start-up incentives: Entrepreneurship policy or active labour market programme? Journal of Business Venturing, 28(1), 151-175.
Romer, D. (2018). Advanced macroeconomics. Mcgraw-hill.
Saunoris, J. W., & Sajny, A. (2017). Entrepreneurship and economic freedom: cross-country evidence from formal and informal sectors. Entrepreneurship & Regional Development, 29(3-4), 292-316.
Sautet, F. (2013). Local and systemic entrepreneurship: Solving the puzzle of entrepreneurship and economic development. Entrepreneurship Theory and Practice, 37(2), 387-402.
Schumpeter, J. A. (1934). The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle (1912/1934). Transaction Publishers. –1982.–January, 1, 244.
Schwab, K., & Sala-i-Martín, X. (2016). The global competitiveness report 2013–2014: Full data edition. World Economic Forum.
Sergi, B. S., Popkova, E. G., Bogoviz, A. V., & Ragulina, J. V. (2019). Entrepreneurship and economic growth: the experience of developed and developing countries. In Entrepreneurship and Development in the 21st Century. Emerald publishing limited.
Simón-Moya, V., Revuelto-Taboada, L., & Guerrero, R. F. (2014). Institutional and economic drivers of entrepreneurship: An international perspective. Journal of Business Research, 67(5), 715-721.
Stam, E., & Van Stel, A. (2011). Types of entrepreneurships and economic growth. Entrepreneurship, innovation, and economic development, 78-95.
Stam, E., Hartog, C., Van Stel, A., & Thurik, R. (2011). Ambitious entrepreneurship, high-growth firms and macroeconomic growth. The dynamics of entrepreneurship: Evidence from global entrepreneurship monitor data, 231-249.
Urbano, D., & Alvarez, C. (2014). Institutional dimensions and entrepreneurial activity: an international study. Small business economics, 42(4), 703-716.
Urbano, D., Aparicio, S., & Audretsch, D. (2019). Twenty-five years of research on institutions, entrepreneurship, and economic growth: what has been learned? Small Business Economics, 53(1), 21-49.
Valliere, D., & Peterson, R. (2009). Entrepreneurship and economic growth: Evidence from emerging and developed countries. Entrepreneurship & Regional Development, 21(5-6), 459-480.
Van Stel, A., Carree, M., & Thurik, R. (2005). The effect of entrepreneurial activity on national economic growth. Small business economics, 24(3), 311-321.
Van Stel, A., Storey, D. J., & Thurik, A. R. (2007). The effect of business regulations on nascent and young business entrepreneurship. Small business economics, 28(2-3), 171-186.
Venkataraman, S. (2019). The distinctive domain of entrepreneurship research. In Seminal ideas for the next twenty-five years of advances. Emerald Publishing Limited.
Wennekers, S., & Thurik, R. (1999). Linking entrepreneurship and economic growth. Small business economics, 13(1), 27-56.
Wennekers, S., Van Wennekers, A., Thurik, R., & Reynolds, P. (2005). Nascent entrepreneurship and the level of economic development. Small business economics, 24(3), 293-309.
Wiseman, T., & Young, A. T. (2013). Economic freedom, entrepreneurship, & income levels: some US state-level empirics. American Journal of Entrepreneurship, 6(1), 104-125.
)
ارسال نظر در مورد این مقاله