scholarly journals Macroeconomic Determinants of Entrepreneurship in Emerging and Developing Countries

2019 ◽  
Vol 9 (4) ◽  
pp. 79
Author(s):  
Kamilia Loukil
Keyword(s):  
Developing Countries ◽  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Autoregressive Process ◽  
Institutional Framework ◽  
Entrepreneurial Activity ◽  
New Business ◽  
Emerging And Developing Countries ◽  
Macroeconomic Determinants ◽  
Macroeconomic Environment

This study examines which factors in macroeconomic environment can stimulate entrepreneurial activity in emerging and developing countries. We employ a System Generalized Method of Moments (System GMM) technique to examine determinants of entrepreneurial activity for a panel of 30 countries during the period 2004-2012. Findings show the importance of demand and institutional framework for new business entry. Moreover, we find that entrepreneurship is an autoregressive process.

scholarly journals DYNAMIC PANEL DATA ANALYSIS OF THE IMPACT OF INTELLECTUAL PROPERTY RIGHTS ON ENTREPRENEURSHIP IN EMERGING AND DEVELOPING COUNTRIES

2020 ◽  
Vol 5 (1) ◽  
pp. 40-48
Author(s):  
Kamilia Loukil
Keyword(s):  
Developing Countries ◽  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
Dynamic Panel Data ◽  
New Business ◽  
Emerging And Developing Countries ◽  
The Impact

Entrepreneurship is considered as a key driver of economic growth and development. That is why, scholarly contributions have set out to identify its national determinants. In the present study, we aim to shed some light on to how the institutional framework affects the entrepreneurship levels, by focusing on emerging and developing countries. More specifically, this study examines the impact of intellectual property rights (IPR) on entrepreneurship in emerging and developing countries. This issue is becoming increasingly important, especially in the context of developing countries which adhere to the Trade Related Intellectual Property Rights Agreement (TRIPS). Further to this agreement, all member countries of the world trade organization are required to achieve high standards of IPR. From the theoretical analysis, it appears that the impact of IPR on innovative entrepreneurs is positive, while their impact on imitators is more ambiguous. To empirically test these hypotheses, we apply a System Generalized Method of Moments (System GMM) technique on a panel of 28 countries during the period 2005-2012. The entrepreneurship level is measured by the new business entry density while the protection degree of intellectual property rights is measured by the IPR index of World Economic Forum. The findings show a non-significant effect of IPR on new business entry. We conclude that the intellectual property rights are not an effective tool of industrial policy in emerging and developing countries. Governments should rely on other factors in order to spur entrepreneurship.

scholarly journals The Development of Corporate Bond Markets: A Cross-Country Analysis

2015 ◽  
Vol 8 (1) ◽  
pp. 50 ◽  
Author(s):  
Dung P. Le ◽  
Quang T. T. Nguyen ◽  
Toan M. Nguyen
Keyword(s):  
Developing Countries ◽  
Exchange Rates ◽  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Corporate Bonds ◽  
Corporate Bond ◽  
Bond Markets ◽  
Exchange Rate Variability ◽  
Country Analysis ◽  
Cross Country

<p>This study examines how macro-determinants influence corporate bonds by firms in 90 developed and developing countries over the period of 1970-2013. Employing Generalized Method of Moments (GMM) model, the study explores whether exchange rate variability and the openess of the economy have a significant impact on corporate bonds of firms. Specifically, it examines whether increased variability of exchange rates, increases the issuing of corporate bonds by the firms in these countries, or whether corporate bonds are used less by firms in countries where there is greater openness.<strong></strong></p>

scholarly journals The impact of taxes effects on the economic growth of developing countries in ASIA

2020 ◽  
Author(s):  
Văn Thuận Nguyễn ◽  
Xuân Hằng Trần ◽  
Minh Hằng Nguyễn ◽  
Thị Kim Chi Ng
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Method Of Moments ◽  
Positive Impact ◽  
Trade Openness ◽  
Generalized Method Of Moments ◽  
Negative Relationship ◽  
Estimation Methods ◽  
Policy Suggestions ◽  
The Impact

The objective of the study is to examine the impact of taxes on economic growth in developing countries in Asia during 18-year period (2000-2017). Using the estimation methods of OLS, FEM, REM, GLS and two-step system generalized method of moments (S-GMM) for panel data. Empirical results show that taxation has a positive impact on economic growth at level of 1%, while the most studies consider this to be a negative relationship. Besides, factors such as government spending, trade openness, inflation also have a significant impact on economic growth. On that basis, the study provides some policy suggestions for tax policies in these countries.

scholarly journals Does international patent collaboration have an effect on entrepreneurship?

2021 ◽  
Author(s):  
Daniel Alonso-Martínez ◽  
Nuria González-Álvarez ◽  
Mariano Nieto
Keyword(s):  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
High Rate ◽  
Entrepreneurial Activity ◽  
Firm Creation ◽  
Country Level ◽  
Positive Externalities ◽  
International Patent ◽  
New Firm ◽  
Shed Light

AbstractEntrepreneurship is one of the main pillars of growth in any economy. Achieving a high rate of entrepreneurship in a region has become the priority objective of governments and firms. However, in many cases, new firm creation is conditioned by relations or collaboration in innovation with agents from other countries. Previous literature has analyzed the mechanisms that foster entrepreneurship. This paper attempts to shed light on the influence of international patent collaboration (IPC) on entrepreneurial activity at country level taking into account the timing of this relationship. An empirical study is proposed to verify whether IPC leads to greater entrepreneurship and to analyze the gestation period between international patenting actions and firm creation. Using the Generalized Method of Moments, the two hypotheses proposed were tested in a data panel of 30 countries for the period 2005–2017. Results show the influence of IPC in promoting entrepreneurship in the same year, but especially in the following year. The study offers implications for entrepreneurs and public agents. IPC affects the integration and interaction of international agents in a country, favors the production of new knowledge, and increases positive externalities in a territory. All this facilitates the creation of new companies with a high innovative component.

scholarly journals Bank Profitability and Efficiency in Portugal and Spain: A Non-Linearity Approach

2020 ◽  
Vol 13 (11) ◽  
pp. 284
Author(s):  
Maria Elisabete Neves ◽  
Catarina Proença ◽  
António Dias
Keyword(s):  
Panel Data ◽  
Literature Review ◽  
Iberian Peninsula ◽  
Method Of Moments ◽  
Banking Sector ◽  
Generalized Method Of Moments ◽  
System Model ◽  
Bank Efficiency ◽  
Bank Profitability ◽  
Macroeconomic Environment

This paper aims to analyze the determinants of profitability and bank efficiency in the Iberian Peninsula. To achieve the proposed objective, a sample of 66 Portuguese and Spanish banks was analyzed. To test the hypotheses formulated according to the proposed literature review, the panel data methodology was used; specifically, the Generalized Method of Moments (GMM) system model proposed by and the Tobit model. The results point out that the banking performance, measured in terms of profitability and efficiency, in the Iberian Peninsula, is influenced by internal management variables, but also by the macroeconomic environment. More interestingly, and new in the Iberian banking sector literature, the results prove a positive and negative non-linear relationship between bank size and their levels of profitability and efficiency, respectively.

scholarly journals Macroeconomic Factors and Birth of New Businesses in Developing Countries: Evidence from a Dynamic System GMM Approach

2021 ◽  
Vol 6 (1) ◽  
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Method Of Moments ◽  
Population Growth Rate ◽  
Generalized Method Of Moments ◽  
Negative Effects ◽  
Macroeconomic Factors ◽  
Per Capita ◽  
The Creation ◽  
Determining Factor

This paper aims to discuss and determine the nature of relationship between the birth of new enterprises and macroeconomic factors in using a panel data of 73 developing countries for the period of 2006-2018. The study used panel corrected standard error approach (PCSE) and system generalized method of moments (GMM) approach. The main conclusions revealed that foremost economic growth, translated in terms of real gross domestic product per capita, and in terms of variation in demand, has proved to be a positive determining factor in the creation of enterprises. Furthermore, the population growth rate and inflation, while contributing positively to the creation of new enterprises, did not produce the effect that would have been expected, given the relatively low elasticity. Addition, the results also indicate that unemployment rate and employment vulnerability have small negative effects on new firms’ creation.

scholarly journals Effect of Productive Capacities on Economic Complexity: Do Aid for Trade Flows Matter?

2021 ◽  
Vol 36 (4) ◽  
pp. 626-688
Author(s):  
Sèna Kimm Gnangnon
Keyword(s):  
Developing Countries ◽  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Scaling Up ◽  
Development Aid ◽  
Trade Flows ◽  
Poor Countries ◽  
Economic Complexity ◽  
Aid For Trade

This is the first study to examine the effect of productive capacities on economic complexity and understand whether the Aid for Trade (AfT) flows is important for this effect in recipient countries. The analysis uses a sample of 126 developed and developing countries for 2002-2018 and adopts the two-step system Generalized Method of Moments approach. Results show that strengthening productive capacities enhances economic complexity. Furthermore, productive capacities and total AfT flows are strongly complementary in positively affecting economic complexity, and the degree of complementarity is higher for poor countries than for other AfT-recipient countries. Similarly, productive capacities are strongly complementary with total Non-AfT flows, as well as for total development aid. These findings highlight the need for scaling-up development aid flows, notably AfT flows, in favor of developing countries and poor countries having the lowest levels of productive capacities.

The effect of corruption on bank profitability

2019 ◽  
Vol 26 (3) ◽  
pp. 753-773 ◽  
Author(s):  
Segun Thompson Bolarinwa ◽  
Funmi Soetan
Keyword(s):  
Developing Countries ◽  
Method Of Moments ◽  
Design Methodology ◽  
Generalized Method Of Moments ◽  
Panel Cointegration ◽  
Developed Countries ◽  
Emerging Countries ◽  
Bank Profitability ◽  
Content Type ◽  
Positive Effect

Purpose This paper aims to investigate the effect of corruption on bank profitability. Design/methodology/approach The paper adopts panel cointegration, differenced generalized method of moments (GMM) and system GMM. Findings The empirical results show that corruption is important in explaining the profitability of commercial banks in both developed and emerging countries. While it has mixed effects in emerging countries, only positive effect is validated in developed countries. Research limitations/implications Macroeconomic measures of corruption are adopted in the study. Originality/value The paper contributes to the literature on corruption and bank profitability by reporting evidence from both developed and developing countries. Existing papers have only concentrated on developing countries.

scholarly journals Real Exchange Rate and Competitiveness of National Economy

2019 ◽  
Vol 11 (2) ◽  
pp. 91-106
Author(s):  
A. V. Bozhechkova ◽  
D. V. Petrova
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Exchange Rate ◽  
Real Exchange Rate ◽  
Method Of Moments ◽  
Empirical Investigation ◽  
Raw Materials ◽  
Generalized Method Of Moments ◽  
Factor Productivity ◽  
Cis Countries

The article presents the results of empirical investigation devoted to assessing the degree of impact of real exchange rate on economic growth and the dynamics of total factor productivity for various groups of countries, including the CIS countries, countries exporting raw materials, developing countries targeting inflation, in the period 1990-2017 years, using the system generalized method of moments.

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