Entrepreneurship & Economic Development

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Research Paper On:
“ENTREPRENEURSHIP & ECONOMIC DEVELOPMENT”

Submitted To: Mr. Niaz Patwary (NzP)
Faculty, North South University Submission Date: 3th April, 2013
Course Name: MGT 368 (Entrepreneurship)
Section: 09
Submitted by:
Kazi Jubair Radin- 1020191030

Table of Content
Details| Page Number|
Abstract| 03|
Introduction| 04-05|
Literature review| 06-08|
Methodology| 08|
Objective of the Research & Hypotheses| 09|
Findings| 10-21|
Final result & Assumption| 22|
Conclusion| 22|
Reference| 23|
ABSTRACT

This paper gives an overview of the state of the art of the intersection of Economic development and Entrepreneurship. It deals with recent theoretical insights from the intersection of entrepreneurship and development studies, the empirical evidence on that relationship between entrepreneurship and development and fresh insights for entrepreneurship policy for development that emerges from developed to developing countries, including female entrepreneurship. All the factors that relating with this study analyzed from secondary data to study correlations of the importance of increasing entrepreneurship in economic development.

Key words: Entrepreneurship, development, small business, private sector development

INTRODUCTION

Entrepreneurship
Entrepreneurship is the act and art of being an entrepreneur or one who undertakes innovations or introducing new things, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. Adam Smith, founding father of modern economics ‘detested business men’ (Lewis, 1988: 35).Development scholars and development economists in particular have, if not detesting businessmen or entrepreneurs, (benignly) neglected them. Following Leff (1979:51) many development scholars took the position that ‘entrepreneurship is no longer a problem’ or a ‘relevant constraint on the pace of development’ in developing countries. Entrepreneurship scholars on other hand have been more concerned with the who, why and how of entrepreneurship rather than with the impact of entrepreneurship on development or developing countries (Shane, 1997; Bruton et al.2008); a situation described as a ‘scholarly disconnect’ (Audretsch et al., 2007: 1-2). Why does this matter? First, it is widely believed that entrepreneurship is beneficial for Economic growth and development (Audretsch et al., 2006). Second, entrepreneurship has been remarkably resurgent over the past three decades in countries that achieved substantial poverty reduction – e.g. in China (Mohapatra et al., 2007). Third, donors and international development agencies have been turning to entrepreneurship to improve the effectiveness and sustainability of aid (Pronk, 2003; Hubbard and Duggan, 2009).

However, the theoretical and empirical cases for understanding the role of entrepreneurship are not yet solid. Evidence on whether entrepreneurship matters for economic growth is not straightforward; how entrepreneurship has been promoted and how it contributed to development in countries like China and the East Asian Tigers is still a matter of contention; and whether and why private sector development initiatives may be effective is not well understood. Closer study of the relationship between entrepreneurship and economic development is therefore needed. In order to excite the development-entrepreneurship discourse it may be necessary to first attempt to formalize or merge the role of entrepreneurship in the“grand ideas” of development economics, and to consider how this resonates with available evidence and what this means for policy.

There are at least three “grand” ideas in development economics. The first is that development...
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