THE IMPACT OF FEMALE ENTREPRENEURSHIP ON ECONOMIC GROWTH IN DEVELOPING AND DEVELOPED ECONOMIES
DOI:
https://doi.org/10.2478/eoik-2024-0016Keywords:
women’s entrepreneurship, entrepreneurial approach, human capital, economic growth, economic potentialAbstract
Significance. The development of women’s entrepreneurship is still a largely untapped potential for growth and prosperity. The economic role of women is crucial for growth and a more equitable distribution of wealth. Economic opportunities are much more important for women today than for the previous generation, especially for developing countries. In this regard, the impact of women’s entrepreneurship on economic growth is an important area of research reflecting broader interests in gender equality, economic development and human resource optimization. Objectives. Analysis of the impact of women’s entrepreneurship on the economies of developed and developing countries and the development of some recommendations for the development of women’s entrepreneurship. Methods. For this study, the method of ordinary least squares (OLS) was used, which analyses the impact of women’s entrepreneurship on economic growth in developed and developing countries in the period 2012-2022. Results. The under-development of women’s entrepreneurship represents untapped potential for growth and prosperity in many countries. In this regard, there is an urgent need to create more favourable conditions for the development and strengthening of women’s entrepreneurship, more thoughtful policies and decisive measures aimed at empowering women are crucial. The results obtained in the course of this study are important for the development of theoretical and methodological foundations for the study of women’s entrepreneurship. The results of the study may be useful for women entrepreneurs, NGOs/NGOs, development institutions and government agencies.
References
Al-Ansi, N., Uddin, B., & Alhrabi, A. (2022). Factors of Identity Loss in Buraydah City Saudi Arabia. Journal of Urban Development and Management, 1(2), 102-114. https://doi.org/10.56578/judm010203
Al-Qahtani, M., Zguir, M., Ari, I., & Koç, M. (2022). Female entrepreneurship for sustainable economy and development – challenges, drivers, and suggested policies for resource-rich countries. Sustainability, 14(20). https://doi.org/10.3390/su142013412
Andrejić, M. & Pajić, V. (2023). Optimizing Personnel Selection in Transportation: An Application of the BWM-CoCoSo Decision-Support Model. Journal of Organizations, Technology and Entrepreneurship, 1(1), 35-46. https://doi.org/10.56578/jote010103
Bandur, M. (2016). Significance and Role of Small and Middle Entreprises in Economic Development. ECONOMICS - Innovative and Economics Research Journal, 4(1), 89-106. https://doi.org/10.1515/eoik-2015-0025
Barro, R. D. (1990) Government Expenditure in a Simple Model of Endogenous Growth. Journal of Political Economy, 98 (5), S103-S125. https://dash.harvard.edu/bitstream/handle/1/3451296/Barro_GovernmentSpending.pdf
Burga, L., Gimelli, N., Muradyan, S., Robakowski, A., Miller, M., Rawlins, M., & Snyder, G. (2021). Using digital solutions to address barriers to female entrepreneurship: A toolkit. Washington: The World Bank. https://doi.org/10.1596/35993
Chatterjee, N., Das, N., & Srivastava, N. K. (2019). A structural model assessing key factors affecting women’s entrepreneurial success: Evidence from India. Journal of Entrepreneurship in Emerging Economies, 11(1), 122–151. https://doi.org/10.1108/JEEE-08-2016-0030
Chikh-Amnache, Sabrina & Mekhzoumi, Lotfi. (2023). The Impact of Female Entrepreneurship on Economic Growth in the Asean Countries: A Panel MM-QR Approach. Economics and Business. 37, 37-49. http://dx.doi.org/10.2478/eb-2023-0003
Deepa, B., Sunita Rani, Y., & Radhika, P. (2022). Role of women entrepreneurs in economic development of a country. Journal of Positive School Psychology, 6(3), 9831–9835. https://journalppw.com/index.php/jpsp/article/view/5509
Elam, A., Hughes, K. D., Guerrero, M., Hill, S., Nawangpalupi, C., Fuentes, M., González, J. P. D., Laviada, A. F., Martinez, C. N., Banon, A. C., Chabrak, N., Brush, C., Baumer, B., & Heavlow, R. (2021). Women’s entrepreneurship 2020/21: Thriving through crisis. London: Global Entrepreneurship Research Association. https://www.gemconsortium.org/file/open?fileId=50841
Franzke, S., Wu, J., Froese, F. J., & Chan, Z. X. (2022). Female entrepreneurship in Asia: A critical review and future directions. Asian Business & Management, 21(3), 343–372. https://doi.org/10.1057/s41291-022-00186-2
Haque Mukit, M. M., Jahan Nabila, N., Safqul Islam, M., & Abdel-Razzaq, A. I. (2020). Valuing Women Entrepreneurship in the Informal Economy in Bangladesh. ECONOMICS - Innovative and Economics Research Journal, 8(2), 37–54. https://doi.org/10.2478/eoik-2020-0020
Hagemann, Harald. (2009). Solow’s 1956 Contribution in the Context of the Harrod-Domar Model. History of Political Economy, 41, 67-87. http://dx.doi.org/10.1215/00182702-2009-017
Koshulko, O. (2018). Violence Against Female Citizens and Female Immigrants in some Countries Worldwide: Challenges And Solutions. ECONOMICS - Innovative and Economics Research Journal, 6(2), 71-77. https://doi.org/10.2478/eoik-2018-0026
Marsan, G. A., & Sey, A. (2021). Women’s participation in the digital economy: Improving access to skills, entrepreneurship, and leadership across ASEAN. Senayan: Economic Research Institute for ASEAN and East Asia. https://www.eria.org/publications/womens-participation-inthe-digital-economy-improvingaccess-to-skills-entrepreneurship-and-leadership-across-asean/
Noor, S., Isa, F. M., & Shafiq, A. (2022). Women’s entrepreneurial success models: A review of the literature. World Journal of Entrepreneurship, Management and Sustainable Development, 18(1), 137–162. https://doi.org/10.47556/J.WJEMSD.18.1.2022.7
Noori, Mahboobeh & Rezaei, Mohammad & Asgari, Ebrahim. (2020). Structural-Interpretive Modeling Factors Affecting the Physical and Social Resilience of Shiraz to Natural Disasters (Flood). 7. http://dx.doi.org/10.22103/JUSG.2020.2024
OECD. (2021). SIGI 2021 regional report for Southeast Asia. Social institutions and gender index. Paris: OECD Publishing. https://doi.org/10.1787/236f41d0-en
Ojediran, F. O., & Anderson, A. (2020). Women’s entrepreneurship in the global South: Empowering and emancipating? Administrative Sciences, 10(4). https://doi.org/10.3390/admsci10040087
Protsenko, I. (2023). Legal Status and Peculiarities of Taxation of E-Residents in Ukraine. Collection of Papers New Economy, 1(1), 244-255. https://doi.org/10.61432/CPNE0101244p
Puška, A., Kozarević, S., & Okičić, J. (2020). Investigating and analyzing the supply chain practices and performance in agro-food industry. International Journal of Management Science and Engineering Management, 15(1), 9-16. https://doi.org/10.1080/17509653.2019.1582367
Radukic, S., Mastilo, Z., Kostic, Z., & Vladusic, L. (2019). Measuring of the Goods and Labor Markets Efficiency: Comparative Study of Western Balkan Countries. Montenegrin Journal of Economics, 15(2), 95-109. https://doi.org/10.14254/1800-5845/2019.15-2.8
Sajjad, M., N. Kaleem, M.I. Chani, and M. Ahmed. (2020). Worldwide Role of Women Entrepreneurs in Economic Development. Asia Pacific Journal of Innovation and Entrepreneurship, 14 (2), 151–160. https://doi.org/10.1108/APJIE-06-2019-0041
Sallah, C. A., & Caesar, L. D. (2020). Intangible resources and the growth of women businesses: Empirical evidence from an emerging market economy. Journal of Entrepreneurship in Emerging Economies, 12(3), 329–355. https://doi.org/10.1108/JEEE-05-2019-0070
Satpayeva, Z., A. Kireyeva, & G. Kenzhegulova. (2020). Gender Equality and Women Business of Framework 5Ms in Kazakhstan: Analysis and Basic Directions. The Journal of Asian Finance, Economics and Business, 7(3), 253–263. https://doi.org/10.13106/jafeb.2020.vol7.no3.253
Tambunan, T. (2019). Women entrepreneurship in Asian developing countries: Their development and main constraints. African Journal of Gender and Women Studies, 4(5), 1–14. https://www.internationalscholarsjournals.com/articles/women-entrepreneurship-in-asiandeveloping-countries-their-development-and-main-constraints.pdf
UN Women. (2022). Women’s leadership in the ASEAN region. United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). https://asiapacific.unwomen.org/en/digital-library/publications/2022/10/womens-leadershipin-the-asean-region
UNEP. (2020). Powering Equality: Women’s Entrepreneurship Transforming Asia’s Energy Sector. https://www.unep.org/resources/report/powering-equality-womens-entrepreneurship-transforming-asias-energy-sector
Vial, Virginie & Richomme-Huet, Katia. (2017). Women entrepreneurs in France. International Journal of Entrepreneurship and Small Business, 30, 80-97. http://dx.doi.org/10.1504/IJESB.2017.081034
Vlasenko, T. (2023). Dimensions of the Analysis of the Organizational Culture of Multinational Companies. Collection of Papers New Economy, 1(1), 110-125. https://doi.org/10.61432/CPNE0101110v
Vracheva, V. & I. Stoyneva. (2020). Does Gender Equality Bridge or Buffer the Entrepreneurship Gender Gap? A Cross-Country Investigation. International Journal of Entrepreneurial Behavior & Research, 26(8), 1827–1844. https://doi.org/10.1108/IJEBR-03-2020-0144.
Wang, L. & Hu, T. (2024). A Method for Creative Scheme Generation for Brand Design of Plush Toys Based on Extension Theory. International Journal of Knowledge and Innovation Studies, 2(1), 1-10. https://doi.org/10.56578/ijkis020101
World Bank Group. (2020). Women, business and the law 2020. Washington: International Bank for Reconstruction and Development. https://openknowledge.worldbank.org/handle/10986/32639
World Development Indicators (2023) World Development Indicators database provided by the World Bank Online https://databank.worldbank.org/source/world-development-indicators/preview/on
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
