Entrepreneurship, Innovation, and Economic Development
Entrepreneurship and innovation are two of the most pervasive concepts of our times, yet there are still gaps in our understanding of the interactions between entrepreneurship and innovation, particularly in developing countries. This book is an attempt to fill this gap. It focuses on the entrepreneurship-innovation-development nexus, drawing heavily on empirical evidence from developing countries. Cross-country and individual country experiences cover nations as diverse as Ethiopia, India, Turkey, Vietnam, and also examine lessons from advanced economies such as Finland. Three sets of questions are addressed. What is the impact of entrepreneurship and innovation on growth and development? What determines the innovative performance of entrepreneurs in developing countries? What role does the institutional environment play in shaping the extent and impact of innovative activities? A key message is that entrepreneurial innovation, whether through small firms, large national firms, or multinational firms, is often vibrant in developing countries, but does not always realise its full potential. This is due to institutional constraints, the absence of the appropriate mix of different types of small and large and domestic and foreign firms, and insufficiently developed firm capabilities. The contributions provide a better understanding of the determinants and impacts of innovation in developing countries and the policies and institutions that support or hinder innovation.
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'I learnt a lot from this book. Innumerable books discuss innovation and entrepreneurship, on the one hand, and specific problems of developing countries, on the other, but connecting them in Schumpeter's and Gerschenkron's spirit is rare. The volume edited by Szirmai, Naudé, and Goedhuys stands above the literature with its thorough research, clarity of discussion, and relevance of conclusions for society.' - János Kornai, Professor of Economics, Emeritus, Harvard University and Collegium Budapest
'This volume brings together contributions from leading scholars from the three fields: innovation, entrepreneurship, and development research. The outcome shows the value of combining different perspectives and it is worthwhile reading for policy makers, scholars, and students both for the responses given and the new questions raised.' - Bengt-Åke Lundvall, Professor at the Department of Business Studies, University of Aalborg