Conditions Supporting Entrepreneurship and Sustainable Growth

Abstract

There are a variety of different conditions that support entrepreneurship and affect sustainable development. The aim of this paper is to focus on the issue of territorial advantage, based on the dimensions analysed by the World Economic Forum (WEF). This helps to assess the sustainable competitiveness of different geographic regions in the world based on the variables of the Global Entrepreneurship Monitor (GEM). The geographic regions the authors focus on in the analysis are 1) Asia and Oceania, 2) Europe and 3) Latin America and the Caribbean. From the analysis they analyse which variables best explain the socio-economic development of these geographic regions and whether there are any major differences. The results based on partial least squares structural equation modelling (PLS-SEM) show the variables within each group of countries, which best explain the regional development. This helps to understand the association between competitiveness and entrepreneurship variables with sustainable growth in order to help explain best interventionist priorities to use in order to foster entrepreneurship.