Innovative Entrepreneurial Activity and the Level of Economic Development

Entrepreneurs are considered as the driving force of any economy. They play a significant role in the development of these countries, contributing to their growth, renewal and employment, competitiveness and they improve the quality of life. However, it must be highlighted that entrepreneurs differ in the degree and type of novelty that they introduce to the economy. This study provides theoretical insights and empirical evidence on the emergence of entrepreneurial innovativeness. Within the theoretical framework the paper deals with different types of innovative entrepreneurs, classification of entrepreneurs by degree of innovativeness and the theory that investigates the interaction of different macroeconomic mechanisms which influence the probability to be an entrepreneur. The main aim of the study is to analyze the factors that determine the propensity to innovate entrepreneur, depending on the level of economic development. Regression analysis, which was used in the course of empirical research was based on binary equation with the usage of individual characteristics and macroeconomic indicators of the country among the explanatory variables, allows to identify which factors are the most important in making the decision of becoming an innovative entrepreneur of different types. Data used in the empirical analysis originate from the 2012 adult population surveys of the Global Entrepreneurship Monitor in 59 different countries. The results suggest that entrepreneurial innovativeness depends both on individual factors and on the environment in which the individual acts.