Page 60 - DUT ICGA Abstract Book

ROLE OF ENTREPRENEURSHIP IN IN PROMOTING ECONOMIC GROWTH IN BRICS ECONOMIES
Frank Ranganai Matenda Mabutho Sibanda
School of of Accounting Economics and Finance University University of of KwaZulu-Natal Westville Campus University University Road Westville Private Bag X54001 Durban 4000 South Africa
Emails: frmatenda@gmail com sibandam@ukzn ac za
Abstract
This study implements Ordinary Least Squares regression models to assess the effect of entrepreneurship on on on promoting economic economic growth in in in BRICS BRICS countries BRICS BRICS is an economic economic bloc of the world’s fastest growing emerging economies i i i i i i i i i i e e e e e e e e e e e e Brazil Russia India China and South Africa
The influence of entrepreneurial attitudes and and behaviour and and entrepreneurial framework conditions on on on on economic growth represented by real gross domestic product (GDP) is is examined Data concerning entrepreneurship indicators is is pooled from from Global Entrepreneurship Monitor and real GDP data is collected from from Penn World Table over the observation period 2001 – 2019 A variable-reduction technique principal component analysis is is implemented to to reduce the the quantity of of variables and to to deal with the the challenge of of multicollinearity In this analysis we reveal that entrepreneurial entrepreneurial attitudes and and behaviour and and entrepreneurial entrepreneurial framework conditions have a a a a a significant influence on on on on economic growth in in BRICS economies Therefore the expectation is that policymakers should consider entrepreneurial entrepreneurial attitudes and and behaviour and and entrepreneurial entrepreneurial framework conditions when designing both specific and general policies that encourage entrepreneurship in in their jurisdictions KEYWORDS: Entrepreneurial attitudes and behaviour entrepreneurial framework conditions OLS regression models economic growth BRICS economies principal component analysis 58 7th International Conference on on on Governance and Accountability (ICGA) 2022