Original scientific paper
https://doi.org/10.1080/1331677X.2023.2275582
The influence of entrepreneurship on economic growth in BRICS economies
Frank Ranganai Matenda
Mabutho Sibanda
Abstract
This study employs correlation analysis and a fixed effects model
premised on indexes extracted through principal component analysis
to assess the effects of entrepreneurial attitudes and behaviour,
and entrepreneurial framework conditions (EFCs) on
economic growth in BRICS economies. For purposes of effectiveness,
a panel dataset for entrepreneurial attitudes and behaviour,
and EFCs indicators is pooled from the Global Entrepreneurship
Monitor website, and one for gross domestic product (GDP) per
capita, a proxy for economic growth, is sourced from the World
Bank website over the period 2001-2021. The study reveals that
there are statistically significant negative correlations between
GDP per capita and ‘entrepreneurial intentions rate’, ‘perceived
capabilities rate’, ‘perceived opportunities rate’, ‘governmental
support and policies’, ‘taxes and bureaucracy’, ‘governmental programmes’,
‘internal market openness’, ‘physical and services infrastructure’
and ‘cultural and social norms’. Furthermore,
entrepreneurial attitudes and behaviour positively impact GDP
per capita, whereas EFCs have no significant influence on GDP
per capita in BRICS economies.
Keywords
Entrepreneurial attitudes and behaviour; entrepreneurial framework conditions; correlation analysis; fixed effects model; economic growth; BRICS economies
Hrčak ID:
315163
URI
Publication date:
8.11.2023.
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