The Intersection of the Fields of Entrepreneurship and Development Economics: A Review Towards a New View

J. Hessels, W. Naudé

Research output: Contribution to journalReview articleAcademicpeer-review

Abstract

Despite the popularity of promoting entrepreneurship and small and medium enterprises (SMEs) for economic development, there is little scientific basis on which policy makers can lean. The scholarly fields of entrepreneurship economics and development economics have been elaborated in isolation and only recently started to intersect. This growing intersection is, however, still fragmented, ad hoc, not based on a unifying theoretical approach and suffering from lack of proper measurement. Better policy making will hence benefit from the extension and deepening of the intersection of these fields. We contribute in this regard by providing a conceptual basis for the eventual elaboration of such a unified theoretical approach. We do so by providing an up-to-date review of the intersection of the two fields by noting the progress and gaps; by delineating the externalities associated with entrepreneurship in development and by proposing a synthesis definition of entrepreneurship.

Original languageEnglish
Pages (from-to)389-403
Number of pages15
JournalJournal of Economic Surveys
Volume33
Issue number2
DOIs
Publication statusPublished - Apr 2019

JEL classifications

  • o00 - Economic Development, Technological Change, and Growth
  • l26 - Entrepreneurship
  • o29 - Development Planning and Policy: Other

Keywords

  • Development
  • Entrepreneurship
  • Growth
  • Occupational Choice
  • conceptual framework
  • economic development
  • economic growth
  • economic policy
  • entrepreneur
  • literature review
  • small and medium-sized enterprise
  • SELF-EMPLOYMENT
  • F23
  • BUSINESS
  • L25
  • L26
  • CHOICE
  • TECHNOLOGICAL-CHANGE
  • GROWTH
  • INDIGENOUS INNOVATION
  • FIRMS
  • O57
  • POLICY
  • EVOLUTION
  • O38
  • SELECTION

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