Title: Effects of entrepreneurial opportunity on socio-economic development and economic competitiveness

Authors: Chien-Chi Tseng; Siang Tseng

Addresses: Morgan State University, 1700 East Cold Spring Lane, Baltimore, Maryland 21251, USA; Centennial High School, 4300 Centennial Lane, Ellicott City, Maryland 21042, USA ' Morgan State University, 1700 East Cold Spring Lane, Baltimore, Maryland 21251, USA; Centennial High School, 4300 Centennial Lane, Ellicott City, Maryland 21042, USA

Abstract: This study examines the relationships among entrepreneurial opportunity, socio-economic development, and economic competitiveness in the 33 upper-middle-income economies. An empirical framework and three hypotheses are developed to test the relationships. Results indicate that entrepreneurial opportunity has substantial influence on socio-economic development and economic competitiveness. In addition, socio-economic development has a strong impact on economic growth and plays a mediating role to link entrepreneurial opportunity and economic growth. From the research results, the study finds that strengthening entrepreneurial opportunity is an effective way in boosting socio-economic development and economic competitiveness; and economic competitiveness and socio-economic development are integral for fostering significant entrepreneurial opportunities in the developing markets.

Keywords: entrepreneurial opportunity; socio-economic development; economic competitiveness.

DOI: 10.1504/IJBEM.2017.087822

International Journal of Business and Emerging Markets, 2017 Vol.9 No.4, pp.375 - 392

Available online: 30 Oct 2017

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