Journal of International Business Research (Print ISSN: 1544-0222; Online ISSN: 1544-0230 )


Does Green Entrepreneurship Ecosystem have Causal Association with Economic Development? Evidence from Country-wise Panel Data Investigation

Author(s): Ajay Kumar Singh, Sanjeev Kumar, Aditya Kumar Sharma

Scientific research community reported that sustainable development cannot be achieve without adopting extensive practices of green entrepreneurship in production activities. Green entrepreneurship is crucial to increase green growth and environmental sustainability which generate a conducive path for sustainable development. Green entrepreneurship is also valuable to increase social, economic and environmental development. Though, the measurements of green entrepreneurship ecosystem and to determine its indicators are difficult and controversial. Existing studies introduced hypothetical outline to examine the association of green entrepreneurship ecosystem with economic development. Inadequate studies could provide the comparative performance of green entrepreneurship ecosystem and assess its determinants across countries. Few studies could examine the casualty between green entrepreneurship ecosystem and economic development using robust empirical model. Thus, this study was considered to address some relevant research questions and achieve specific objectives to fill aforementioned research gap. It creates green entrepreneurship ecosystem index (GEEI) as an integrated-index of 43 indicators linked with environmental sustainability development, entrepreneurship ecosystem and green entrepreneurship ecosystem for certain 34 countries during 2000–2019. Composite Z-score and principal component analysis were applied to create GEEI. Subsequently, log-linear regression model was used to examine cause-and-effect relationship between GEEI and economic development including certain independent variables through a country-wise panel data.

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