Export-Oriented Entrepreneurial Activity and GDP Dynamics

The following thesis presents a study of the impact that export-oriented early-stage entrepreneurial activity has on GDP dynamics in developed and developing countries. The object of the research is the average annual GDP dynamics for the sample of countries. The subject of the research is the relationship between the growth of export-oriented early-stage entrepreneurial activity and the average annual GDP dynamics for the sample of countries. In the theoretical part of the paper we introduce the concept of export-oriented early-stage entrepreneurship and explore the relevant literature and most recent empirical investigations on the topic. The empirical part of the research is performed using the econometric analysis. The paper puts forward the following hypotheses: • There is a positive relationship between a country’s early-stage entrepreneurial activity and the dynamics of its GDP. • The positive relationship between a country’s early-stage entrepreneurial activity and the dynamics of its GDP increases if these ventures are export-oriented from inception. • The contribution of export-oriented early-stage ventures in developed countries will turn out to be incomparably more significant than in developing countries. The sources of empirical data were the following: Global Entrepreneurship Monitor (GEM), World Bank, World Economic Forum (specifically, the Global Competitiveness Report). As the econometric analysis tool we used EViews 8.