Table of contents
Abstract ................................................................................................................. 3
I Introduction To Study ..................................................................................... 4
1.1 Introduction of the Problem ........................................................................ 4
1.2 Background of the Problem ........................................................................ 4
1.3 Statement of the Problem ............................................................................ 5
1.4 Statement of Purpose................................................................................... 5
1.5 Rationale...................................................................................................... 5
II Review of The Literature............................................................................... 8
2.1 Features environmental development ......................................................... 8
2.2 Development of favorable conditions ......................................................... 9
2.3 Development of Entrepreneurship ............................................................ 11
2.4 Economic Conditions ................................................................................ 14
2.5 Entrepreneurship ....................................................................................... 16
III Methodology .............................................................................................. 18
3.1 Introduction ............................................................................................... 18
3.2 Research Methodology.............................................................................. 19
3.3 Instruments ................................................................................................ 21
3.4 Research Approach ................................................................................... 21
3.5 Purpose of Study ....................................................................................... 22
3.5.1 Research Question................................................................................ 23
3.5.2 Hypothesis ............................................................................................ 23
3.5.3 Research Problem, assumptions and limitations.................................. 24
3.5.4 Summary .............................................................................................. 26
IV Finding And Analysis ................................................................................ 28
4.1 Introduction ............................................................................................... 28
4.2 Analysis of Data for Doing Business in Pakistan .................................... 28
4.3 Analysis of Data for Competitiveness in Pakistan ................................... 39
4.4 Analysis of Important Factor for Business from 1990-2016 ................... 49
V Conclusion ................................................................................................... 57
References ........................................................................................................... 59
Appendix A ......................................................................................................... 69
Appendix B ......................................................................................................... 73
Abstract
Economy is the main factor which has made the differences between
development and underdeveloped countries. The thesis representing the
modern economic conditions around the world that causing changes in every
country. As the economic is the backbone of the country if the economy is
strong then the country is financial strong and has the capabilities to compete
the world. This century is the technological century every thinking is globally
connected so its makes lots of opportunities for everyone around the world
making the economy of the country better with the help of investment in other
countries. In modern economic conditions made possibilities for the people to
invest money while sitting at their country and make contribution for
development of the country. In the thesis providing some favorable conditions
for the entrepreneurs to interact them to invest in the Pakistan. Many
researchers indicate the problems regarding entrepreneurship and economic
development in Pakistan but does not identified that the Pakistan also consist of
some favorable conditions for entrepreneurs to invest. The thesis will help the
entrepreneurs to overview of advantages as well as disadvantages for investing
in Pakistan. This thesis will help the foreign investment to come in the country.
Through the investment lots of issues regarding unemployment, education,
health, infrastructure and most important the economy of the country will
become stronger. This entrepreneurship development in modern economic
conditions in Pakistan will help to develop the country faster and to become in
the list of developed countries in the future. The dissertation will overview the
economic conditions required for the development of entrepreneurship around
the world, then identifying the conditions regarding economy and
entrepreneurship development in Pakistan and the end making some analyzing
with the help of the data which is collected. The better economic condition in
Pakistan will help the entrepreneurs around the world to invest and through the
country will move towards the development.
I
Introduction to Study
The thesis presents findings from a qualitative and quantitative data
analysis of different factors that used for effecting the entrepreneurship
development and the economy of Pakistan. The research will show how the
Pakistan’s economic factors and conditions are favorable or not for
entrepreneurship development in modern economic conditions.
In this introduction chapter, the logic of this study is explained and a
review. The chapter starts off by presenting the context within which the study
was conducted as well as the background of researcher. The study start with the
common used definitions of terms used in research and then move towards
explaining the justification and objectives of the study. After this the study
show an overview of the why in which the study was conducted is provided.
1.1
Introduction of the Problem
Pakistan Being an underdeveloped country there are lots of problem
which does not make the country to be move towards the list of developed
countries. Being the researcher in the field of management I decide to make
research on Pakistan business, economy and entrepreneurship development.
The economy plays an important role in the development of country so it the
important part to be discuss if want to develop the country and to become in
the list of developed countries.
1.2
Background of the Problem
Entrepreneurship development in a country plays an important role for
the development of the country, but according to the economic conditions of
the Pakistan the entrepreneurship development is not the important think for
the people living in the country but if we look around the world in every
country entrepreneurship plays an important role for the development of the
country. From the last few years due to the stability in the country the foreign
4
investment increased in the country, so people should also now think of
development in the country so that which help in boosting the economy of the
country an as result there will be new possibilities will take place for other
people of the country and country will develop.
1.3
Statement of the Problem
Economic development is the key for developing the country but the
economy of Pakistan is not developing as fast as it should be. The problems to
analyze in the research consist of analyze of challenging facing by Pakistan for
the development of economy, factors which are effecting the economy and the
problems which comes between for the entrepreneurship development in the
country in modern economic conditions.
1.4
Statement of Purpose
The statement of the purpose is to study and examine the effect of
favorable economic conditions for entrepreneurship development in Pakistan.
The study of the research has some specific purpose which consist of analyzing
the factors which effect entrepreneurship development in Pakistan in modern
economic conditions, analyzing the overall favorable conditions for
entrepreneurship development in Pakistan and at end making some
implementations conclusion that can help in making the economy of the
Pakistan strong for developing entrepreneurship.
1.5
Rationale
There are many things which can be used to justify that entrepreneurship
development is important for the development of the economy and also for the
development of the country. According to author David Friel Entrepreneurship
refers to the concept of developing and managing a business venture in order to
gain profit by taking several risks in the corporate world. Simply put,
5
entrepreneurship is the willingness to start a new business. Entrepreneurship
has played a vital role in the economic development of the expanding global
marketplace. [9, p.60]
One excellent aspect of entrepreneurship by Ryan Allis is that all
entrepreneurs enjoy the advantage of coming up with diverse ideas that may
also be unique in the global marketplace. Having a diverse range of ideas to
choose from, according to your entrepreneurial vision, you can gain maximum
benefit from the ideas you come up with. The search for quality leadership is
an on-going process that is in practice since past few centuries. The need of a
good leader is one of the factors that led to the evolution of entrepreneurship.
Aside from this, there are several other factors that led to the beginning and
increasing importance of entrepreneurship. With the advancement in
communication amongst the countries and improvement in transportation,
began the process of trading. This was when people became more and more
independent which led to success in trade. It is also believed that the merchants
and the traders were the first entrepreneurs. [30, p.62]
Relivingmbadays describe that Entrepreneurship is influenced by four
distinct factors: economic development, culture, technological development
and education. In areas where these factors are present, you can expect to see
strong and consistent entrepreneurial growth.
These conditions may have both positive and negative influences on the
emergence of entrepreneurship. Positive influences constitute facilitative and
conducive conditions for the emergence of entrepreneurship, whereas negative
influences create inhibiting milieu to the emergence of entrepreneurship. [27,
p.62]
Belgrade Serbia explain that Small and medium-sized businesses and
entrepreneurs are the most efficient segment of the economy in almost all
countries of the world. Individually, these enterprises make the largest
contribution to the increase in employment, gross value added and turnover
6
therefore considered to be the backbone of the growth and development of the
national economy. Their role is particularly important in countries in transition
that are faced with problems of high unemployment, low level of economic
activity, lack of competition and lack of investment, and with still present large
and inefficient state-owned enterprises. As a reliable source of job creation,
small and medium enterprises make an important social function by absorbing
surplus labor incurred in the process of transition and transformation of state
and socially-owned enterprises (Group of authors, 2012). Small and Medium
Enterprises (SMEs) are also a key factor in the economic development and
innovation. The core of the political and economic transformation of any
country is the creation of the private sector, the development of
entrepreneurship and creation of SMEs. They are considered to be one of the
principal driving forces in economic development. SMEs stimulate private
ownership and entrepreneurial skills, they are flexible and can adapt quickly to
changing market demand and supply situations, they generate employment,
help diversify economic activity and make a significant contribution to exports
and trade. SMEs also play an important role in innovation and the high-tech
business, due to their flexibility and creativity many of them became large
businesses (Stikić, 2008). These enterprises have a very important role in local
and regional development in a country. They are often the main source of new
employment. Small businesses can also have a significant role in the foreign
trade of a country, as subcontractors of multinational enterprises and
companies (Group of authors, 2014). [4, p.59
7
II
2.1
Review of the Literature
Features environmental development
According to authors Stefan Schaltegger, Erik G. Hansen and Florian
Lüdeke-Freund in 2016 while analyzing relationship between organization and
environment describes that we propose the following definition of a business
model for sustainability “A business model for sustainability helps describing,
analyzing, managing, and communicating. A company’s sustainable value
proposition to its customers, and all other stakeholders, how it creates and
delivers this value, and how it captures economic value while maintaining or
regenerating natural, social, and economic capital beyond its organizational
boundaries” Extending the conventional view of a business model designed
around a value proposition for customers, we acknowledge that no sustainable
value can be created for customers without creating value to a broader range of
stakeholders. A business is carried by a stakeholder network and in spite of the
fact that a business model is a market-oriented approach particularly a business
that contributes to sustainable development needs to create value to the whole
range of stakeholders and the natural environment, beyond customers and
shareholders. For making future business model we have to make focus on
interrelations between business models and the natural environment, new
ontologies and in depth empirical examinations of practical cases are
conducted in an organization. [3, p.59]
Christoph Zott and Raphael Amit in 2016 while discussing of business
development strategy for future showed some important point’s about business
strategy and business model that how they are effective. Discuss the interaction
between differentiation strategy and novelty-centered business model design
focus on innovation in multiple domains like business model, product market
strategy, consider cost leadership and timing of market entry. [7, p.59]
Another paper which was written by Christian Seelos and Johanna Mair
in 2004 has found that social entrepreneurs are also an important part for the
8
sustainable development of economy. The paper found how the social
entrepreneurs effects the society and the economy of the country. [6, p.59]
For the environment development of economy the corporate social
responsibility (CSR) has also played an important role, the CSR include factors
(green) environment, ethics rights, responsibilities and poverty are major issues
to be control for sustainable development. [2, p.59]
2.2
Development of favorable conditions
To develop a favorable conditions for the development of economy of
country and Foreign Direct Investment (FDI) for the entrepreneurship some
factors are consider to be an important part for the development. The paper
written by Xingwang Qian, Jesus Sandoval-Hernandez and Jinzhuo Z. Garrett
in 2012 shows The effects of corruption distance on bilateral FDI flows
according to research paper there is no statistically significant evidence that
corruption distance influences FDI’s decision on whether to invest or not,
further research find that corruption distance adversely affects the amount
value of FDI from the source country. Developing countries have relatively
higher corruption levels than industrial countries. This result may indicate that
investors from developing countries are more likely to invest in industrial
countries with relatively high corruption. In paper analysis separate corruption
distance according to its direction, namely positive and negative corruption
distance, to study the possible unequal effects of corruption distance on FDI.
While a positive corruption distance implies that a host country has better
institutional environment and less corruption, a negative corruption distance
means a source country is relatively less corrupt. We identify the asymmetric
effect of corruption distance and find that the positive corruption distance is the
noticeable one to affect the behavior of bilateral FDI. [20, p.61]
The business article written by Dima Jamali, Peter Lund-Thomsen, and
Søren Jeppesen in 2015 in which they have had made an literature review of
9
articles the relationship between corporate Social Responsibilities (CSR) and
Small and Medium Enterprises (SMEs). Various aspects of the relationship of
small and medium enterprises (SMEs) to corporate social responsibility (CSR)
in developing countries were discussed. The result of the research was that
CSR and SMEs are engaged with each other, the paper examine that social
responsibilities with in the business are important while doing business in
developing countries. [12, p.60]
Paper written by Dmitry Medvedev in 2016 discussed about the country
like Russia is also facing some economy crises according to the author Dmitry
Medvedev in its research article about business condition in Russia explain
some drawbacks of Russian economy and give ideas for the development and
improvement in the economy of Russia in the future. The analysis focuses on
external and domestic challenges as well as the anti-crisis policy of the Russian
government. The paper discusses economic policy priorities for sustainable
growth that include budget efficiency, structural reforms and import
substitution, the encouragement of entrepreneurship, the efficiency of public
administration, and the modernization of the welfare state. Author suggested
that it is important not only to restore economic growth but to ensure its longterm sustainable rate. If the business community trusts the government, it will
work not only for itself but for the entire economy as well. [13, p.60]
Lucas Bretschger in 2013 discussed the model of comparison in which
non-exponential population growth, nonrenewable natural resources, and
endogenous knowledge creation to analyses economic development in the
medium and long run author suggested that poor substitution between primary
inputs and an essential use of resources in the innovation sectors, which is
generally considered as most unfavorable for growth. An increasing labor force
is positive for growth because it fosters knowledge capital substituting for
natural resources. It is also shown that increasing resource prices cause
structural change, which helps innovation. The lower the elasticity of
10
substitution between inputs is, the faster the sectoral change and labor inflow
into research. This effect can be so strong as to overcome the negative effect of
the essential use of resources in R&D. Thus even a combination of several
seemingly unfavorable conditions is not necessarily detrimental for long-run
growth. The model suggests that labor and backstop technologies rather than
natural inputs are the ultimate resources for an economy. [22, p.62]
2.3
Development of Entrepreneurship
For the development of entrepreneurship the research paper written by
Sorin-George Toma, Ana-Maria Grigore and Paul Marinescu in 2013 which
describes
the
relationship
between
economic
development
and
entrepreneurship have become strongly interconnected, the relationship
between economic development and entrepreneurship has gained a growing
interest in explaining economic performance from one historical period to
another. Today entrepreneurship is widely recognized both by academics and
practitioners as a fundamental factor of economic development throughout the
world. However, entrepreneurship may influence economic development
positively as well as negatively. Paper theoretical model shows, the emergence
of a critical mass of possible ventures may lead to economic development. On
the one hand, entrepreneurial tradition and education are engines of the
entrepreneurial potential. On the other hand, the institutions, the governmental
policies and the legal framework can encourage or block entrepreneurial
initiatives. [46, p.64]
According
to
author
Wim
Naudé
in
2013
explained
that
Entrepreneurship has growing availability of more and better data from
emerging and developing economies, the increasing adoption of difficult
evaluation methods in policy assessments, and likelihood and interest of closer
collaboration across disciplines, are all promising well for on the intersection
of
development
and
entrepreneurship.
11
According
to
researcher
Entrepreneurship provides fresh perspective outstanding ideas in development
economics, entrepreneurship influences development outcomes positively as
well as negatively, entrepreneurship is in turn significantly determined by the
dynamics of development. [72, p.66]
Government is the important factor in providing the entrepreneurs for the
developing economy of the country according to the author David Smallbone
and Friederike Welter in 2001 analysis some data from the central and eastern
European countries in which authors found that the development of SMEs can
also contribute to an adjustment from highly concentrated structures, based on
mass- production methods, to more flexible production systems. Moreover the
author suggested that many enterprises are set up, survive and sometimes even
grow despite government, because of the entrepreneurship of individuals,
reflected in their creativity in mobilizing resources and their flexibility in
adapting to hostile external environments. The problem is that in these
situations the number of firms remains small and their contribution to
economic development in terms of jobs, innovation and external income
generation rather limited. In such a context, government still has to create the
framework conditions for private sector development to become embedded and
sustained.
The current priorities for government differ according to the stage of
market reform reached. In countries that are still in the early stages the priority
need is for a recognition on the part of the state (at all levels) of the role of
SMEs in the development of the economy and society, and a commitment to
creating the necessary institutional, legal and cultural conditions for this to be
achieved. [10, p.60]
In 2010 Jeremy K. Hall, Gregory A. Daneke and Michael J. Lenox in
their research analysis importance of entrepreneurship and sustainable
development. Entrepreneurship has been recognized as a major conduit for
sustainable products and processes, and new ventures are being held up as a
12
solution for many social and environmental concerns. Sustainable development
remains confusingly defined and controversial, it has emerged as an influential
concept for entrepreneurship policy, practice, and theory. However, while
entrepreneurship has been cited as a significant conduit for a more sustainable
society, there remains considerable uncertainty regarding the nature of this role
and how it will explain. [18, p.61]
Emerging
market
has
also
create
many
challenges
for
the
entrepreneurship development in the modern economy. The authors David
Smallbone, Friederike Welter and Jovo Ateljevic in 2013 shows the issues and
future of the entrepreneurs in the emerging market. The articles stress the
challenges for entrepreneurship and small business that stop from institutional
change which leaves related vacuums. In article show critical importance of
relative entrepreneurship policies at both national and regional level. [11, p.60]
Finance have also a great impact on entrepreneurship and for the
development of the economy of the country, In 1993 Robert G. King and Ross
Levine found evidence in the paper regarding finance, entrepreneurship and
economic development. In the paper model was create by which financial
systems influence long-run economic growth. According to model, financial
systems affect the entrepreneurial activities that lead to productivity
improvements in four ways. First, financial systems evaluate prospective
entrepreneurs and choose the most promising projects. Second, financial
systems mobilize resources to finance promising projects. Third, financial
systems allow investors to diversify the risk associated with uncertain
innovative activities. Fourth, financial systems reveal the potential rewards to
engaging in innovation, relative to continuing to make existing products with
existing techniques. Author suggest that government policies toward financial
systems may have an important causal effect on long-run growth. [28, p.62]
13
2.4 Economic Conditions
Change of economic conditions is also an important part for the
development of entrepreneurship in the country. According to the authors
Vally Koubi, Thomas Bernauer, Anna Kalbhenn and Gabriele Spilker in 2012
discuss the change of climate and its effect on the economy growth of the
country, according to the papers the author found that that climate
changeability, measured as deviations in temperature and rainfall from their
past, long-run levels (a 30-year moving average), does not affect violent
intrastate conflict through economic growth. This finding is important because
the causal pathway leading from climate variability via (deteriorating)
economic growth to conflict is a key part of most theoretical models of the
climate–conflict. Results offer only very weak support for a mediating effect of
political system characteristics whereas some of our empirical models suggest
that deteriorating economic growth can increase the likelihood of violent
conflict in autocratic countries, this finding is breakable with regard to model
specification. [71, p.66]
Climate change and economy have also a relation with each other if
there are lot of disasters in the country then it may have negative effect on
economy growth for this relation between climate change Natural disaster
factor and economy growth a paper was written by Drago Bergholt and Päivi
Lujala in 2012, paper Analyzing implement for the change in GDP growth by
climatic disasters. Panel dataset covers the period 1980–2007 and includes 171
independent countries and 4,455 country-year observations, and in the results
they show that climate-related natural disasters have a negative effect on
growth and that the impact is huge. Results suggest based on historical data
that more frequent and severe climate-related disasters will not lead to more
armed conflicts through their effects on GDP growth. [15, p.61]
Now a days Terrorism is also an important factor for changing economic
conditions. Efraim Benmelech, Claude Berrebi and Esteban F. Klor in 2012
discuss the negative effect on economic development in the country, Paper
14
uncovered a strong correlation between economic conditions and the
characteristics of suicide terrorists and targets they attack. Paper also
demonstrated that high unemployment and poor economic conditions allow
terror organizations to recruit more educated, mature, and experienced suicide
terrorists who, in turn, attack more important targets. Terrorism is cause of
negative effect for economic development. [16, p.61]
Relationship between Foreign Direct Investment (FDI), Economic
growth and terrorism discussed by the authors Syed Jawad Hussain Shahzad,
Muhammad Zakaria, Mobeen Ur Rehman, Tanveer Ahmed, and Bashir Ahmed
Fida in which they discuss about these three factors regarding to the Pakistan
before and after the incident of 9/11. In paper they explain that long run cointe¬gration holds between FDI, terrorism and economic growth. Results
indicate that there is bidirectional short and long run causality between
economic growth and FDI for both sub-samples. These findings are supported
by variance breakdown and impulse response analysis. The findings suggest
applicability of modernization theory to explain FDI and economic growth
relationship. The results also reveal that terrorism has a weakening impact on
FDI. Further authors suggested that to attract foreign investment government
should create the soft image of the country inter-nationally and should increase
public investment. Further, diversification opportunities may be provided to
foreign investors with less terrorism risk. [50, p.64]
Another paper written by author Luca Stanca in 2010 A large sample of
individuals from 94 countries worldwide that the effect of income on wellbeing and the effect of being unemployed. The paper discussed the effect of
being employment or unemployment on GDP of the country economy. Culture
and institutions plays a key role for the effects of unemployment on well-being,
beyond aggregate socioeconomic conditions. Overall paper explained that in
order to understand the links between economics and happiness, geography
matters. The spatial dimension of culture and institutions must be explicitly
15
taken into account when investigating the relationship between economic
conditions and well-being. [21, p.61]
Authors Serfraz and Ayesha in 2017 explained about what is the effect
of foreign direct investment inflows on economic growth in Pakistan. Paper
brings up with the good conclusion study time series data of Pakistan covering
a period of 1989 – 2016 has been used for conducting an empirical analysis to
determine the relationship between FDI inflows and economic growth of
Pakistan in light of sectarian terrorism. Therefore it can be concluded that
whether the action runs from FDI to growth or from growth rate to FDI in
presence of sectarian terrorism, there exists two way connection, for first case
it is for both in short run and long run and for second case, it is only in short
run. FDI inflows lead to an increase in economic growth but this relationship is
affected by sectarian terrorism in Pakistan. According to Paper growth rate
increases as a result of increase in FDI inflows but sectarian terrorism acts as
an obstacle. Nonetheless presently terrorist activities have been controlled in
Pakistan after the Military Operation. This is evident from CPEC which is one
of the biggest investment in Pakistan carried out by China. [45, p.64на стр. 64]
2.5
Entrepreneurship
Entrepreneurship plays an important role in economy development of the
country according to the researchers Paul Tracey and Nelson Phillips in 2011
while explaining about entrepreneurship and emerging markets relationship in
the literature explained that the high degree of institutional uncertainty that
characterizes emerging markets often acts as a barrier to entrepreneurship it
can also provide important opportunities for entrepreneurs. Authors suggested
that we can exploit this uncertainty of institution by Managing institutional
uncertainty, spanning institutional voids, and bridging institutional distance.
[26, p.62]
16
Entrepreneurs are the people who usually has an affective idea that
can attract the people fast. So according to the author Siri Terjesen, Jolanda
Hessels and Dan Li in 2013 explained about Comparative International
Entrepreneurship (CIE) after studying 256 articles from 1989 to 2010
suggested that in some areas CIE is an increasing body of evidence, for
example, the value of country-level business activities affects strong
performance in terms of financial and export measures and country-level
economic development, as well. Country-level restrictions are ensured. Despite
this, our review also shows that the large part of the CIE literature is very
different, and there are a lot of academic differences in content, principles, and
procedures that make the basis for future investigative instructions described
above. [46, p.64]
Another paper written by Helene Ahl, Colette Henry and Lene Foss
in 2015 discuss the relationship between the gender and entrepreneurship
development. According to the paper identifies methodological trends in the
field of gender and entrepreneurship and determines the type of methodological
innovations needed in future scholarship. To address these objectives, we
conducted a Systematic Literature Review of 335 empirically based research
papers published in 18 journals between 1983 and 2012. We conclude that
research on female entrepreneurship continues to be considered by explaining
differences between male and female entrepreneurs. Indeed, our study shows a
crushing trend towards large-scale, quantitatively based/analyzed male–female
comparative research that avoids adopting sector-specific focus and withingroup comparative analysis. We believe that this is due to the fact that few
entrepreneurship researchers are interested in feminist epistemology. Poorly,
the more advanced understanding of feminism witnessed in sociology and the
political science literature is not reflected in the field of entrepreneurship. We
suggest that the time has come to take a more critical view of how
methodology in gender research needs to expand in the future. [8, p.60]
17
III
Methodology
3.1 Introduction
Research will analyze the modern economic conditions in Pakistan for
entrepreneurship development. Research will focus on factors which are
necessary used in business and entrepreneurship development for providing the
possibilities for the business investors for investing in Pakistan. Another reason
for this research is to provide some real factors and figures that the other
countries can view for making business relationship with Pakistan more
frequently.
This chapter of methodology will present the research design, collection
of data and analysis procedures that were decided to be more appropriate for
addressing the expressed research question. In this chapter the practical work
as well as the theoretical fundamentals will also be discussed.
The overall purpose of the research is to analyzing the business
conditions and environment changing in Pakistan. The reason to analyze this
research also based on the South Asia pacific region where the world most
powerful economic country is focusing to develop and finding new possible
ways for trading and business development in continent Asia as well as to all
over the world. Many new project related to business development are
launched in recently years such as One Belt One Road and Pak Economic
China Corridor are such example of business development in Pakistan.
Methodology in research paper include the statically representation and
analyze of factors used for business and entrepreneurship development. The
research papers studied related to topic includes method using surveys,
analyzing literature of past papers, using of questionnaire, report analysis and
observation of periodical analysis of business conditions. These all method are
found in the research papers and these are the methods which can be used to
work but due to the huge amount of work it is not possible to focus in all the
methods. Research paper will focus on methodology of observation of factors
18
necessary for business and entrepreneurship development in Pakistan then
collecting the data for the factors which are chosen and at the end making the
suggestion and conclusion for the factor that how they are effecting and how
can they affect the Pakistan business and economic development.
3.2
Research Methodology
A research methodology explains the research purposes, activities,
procedures, measurements and applications. The contextual of research
methodology refers to philosophy of research considered as the way in which is
formulated the research strategy and the way in which research is conducted.
The research methodology determines the edging of explanations arisen from
the analysis of data and observations.
Authors José G. Vargas Hernández, Osmar E. Arandia Pérez, Arturo
Cordova Rangel (2016) used the author Rumelt (1991) concept of sharing
methodological expertise involves knowledge dissemination of techniques and
practices. Changes of research methodology practices may involve some
convenience in the use of research methods.
According to the paper which describes that many researchers used
Quantitative methods with mathematical models such as structural equations or
multiple regression models, even the purely qualitative methods such as
ethnography, or direct observation.
The author Authors José G. Vargas Hernández,
Osmar E. Arandia
Pérez, Arturo Cordova Rangel (2016) also used Author Anshen and Guth
(1973) theory which state that research methodology is the rationale behind a
technique of collecting and analyzing data systematically. [19, p.61]
The author Sonali K. Shah and Kevin G. Corley (2006) discussion on the
qualitative analytical technique of grounded theory building, the ground theory
building is technique used structures of your area of interest through the
19
process of constant comparison. The paper also explains qualitative data
collection that used for providing deductive and inductive data analysis.
The author Sonali K. Shah and Kevin G. Corley (2006) explained in
there research paper about researcher Mintzberg in (1979, page 584) which
states that data don’t generate theory only researcher do that. Data describe the
empirical patterns observed, while theory explains why empirical patterns are
observed or expected. Theory building often requires the rich knowledge that
only qualitative data are provide. Mintzberg theory in which it says building
seems to require rich description, the richness that comes from narrative. We
uncover all kinds of relationships in our ‘hard’ data, but it is only through the
use of this ‘soft’ data that we are able to ‘explain’ them, and explanation is of
course the purpose of research. I believe that the researcher who never goes
near the water, who collects quantitative data from a distance without anecdote
to support them, will always have difficulty explaining interesting
relationships.[48, p.64]
According to authors Rosalie L. Tung and Julian Birkinshaw (2011)
there are clear merits associated with measureable methods includes the multicultural, multi-dimensional and dynamic nature of the field of international
business lends itself to many research methodologies including qualitative
methods. [29, p.62]
Another paper in which author focus on comparable model for ensuring
trustworthiness is followed by students undertaking a qualitative inquiry so that
trustworthiness of qualitative research cannot question, Though several writers
on research methods, especially Andrew K. Shenton (2004), have demonstrated
how can make the qualitative research more effective. According to paper by
analyzing the research papers written in last twenty years and found that by
focusing on four different parts in qualitative research the credibility,
transferability, dependability and confirmability may make the qualitative
research more trustworthiness and effective. Addressed four criteria that may
20
be addressed by qualitative researchers demanding to present a conclusive case
that their work is academically complete. [1, p.59]
3.3
Instruments
The research is based on showing some conclusion or analysis which
indicates the features of business for entrepreneurship development in Pakistan
and its future. The instruments in my research which include collection of data
from analyzing literature review, survey data, comparing the data through
collecting the data periodically that is available with in the country and that are
used by country for any official used. So research will use qualitative data
which includes the main or important factors such as competitiveness,
environmental conditions of doing business, small and medium enterprises
working in Pakistan and other factors related to economy of Pakistan which are
necessary for the business development and for entrepreneurship development
conditions in the country and quantitative data instruments which includes the
collection of numeric data from the year 1990 to the year 2016. These
instruments will help for finding some result and conclusion. Research use the
qualitative data to select and collect important factors that are necessary for
analyzing for the business and collecting the data which are link with business
that has impact on business. After selecting the factors quantitative data used to
find out the statically analyzing of data of the required factors during the
periods of time research is analyzed for comparing it with each other.
3.4
Research Approach
Data for the research paper consists of research articles, review of books,
literatures and statistical data which are collected through internet websites
which includes Scopus, web of science, google scholar, international
organizations websites which includes (World Bank Group, global indicators,
Doing Business, World Trade Organization, Trading Economics, The Global
21
Economy, World Economic Forum, Organization for Economic Corporation
and development (OECD)) and government of Pakistan official websites which
includes (Ministry of Planning, Development and Reforms, Pakistan Bureau of
Statistic Government of Pakistan, Small and Medium Enterprises Development
Authority (SEMDA), Board of Investment, Security and Exchange
Commission of Pakistan (SECP)). Analyzing the data using the graphs through
which it is easy to conclude the overall statistical situation, moreover the data
is analyzed by collection of data from the year of 1990 to the year 2016.
Research includes 40 literature review papers, articles include books. The
research approach of collecting and analyzing the data is the better approach
for helping the entrepreneurs to study the business condition through which
currently the country is going. [17, p.61] [23, p.62] [24, p.62] [25, p.62] [31,
p.63] [47, p.64] [54, p.65] [63, p.65] [64, p.66] [65, p.66] [73, p.66] [87, p.67]
[88, p.67]
3.5
Purpose of Study
The basic purpose of study is to find facts and figures for the economic
conditions in Pakistan. In the paper Economic conditions are establishing by
focusing the business conditions in Pakistan. The economic situation of
Pakistan will describe the possibilities for entrepreneurs and business
development in Pakistan. Using the information from focusing on types of
favorable conditions for entrepreneurship and economic development which
will help us to understand the past and current position of the country and will
through this past and current position research will be able to guess future for
entrepreneurship and economic development in Pakistan.
Study of the paper is to analyze what steps should be done for the
number of entrepreneurs in the country to make them easy of doing business,
how to make the development of business in the country and what initiative
22
should be taken to make the foreigner investors or companies to invest in
Pakistan.
Study will show some real factors that are used for contributing in the
business sector. These factor are chosen according to the overall requirement
need for the foreigner investors to be viewed before investing in any country.
Study will help to analysis the factors that are good for entrepreneurs and also
analysis these factors that should have to be worked more to improve it so that
it become Pakistan more better place for the entrepreneurs to invest.
3.5.1
Research Question
As investment from entrepreneur’s whether from foreigner or with in
country plays an important role for building the country’s economy. Economy
when gets towards the improvement the country also move towards the
development to compete with the entire world. The research questions about
thesis is
i. What are the factors that affect entrepreneurship in Pakistan?
ii. What are the implementations that can be used in Pakistan to make
improvement in business situation?
3.5.2
Hypothesis
To investigating the research paper assuming factors which effects
business in Pakistan focusing on Population, Employment rate, Gross
Domestic Product (GDP), Gross National Income, Death and Birth rate,
Number of Small and Medium companies working in the country, Foreign
Direct Investment ratio, Import and Export ratio, Corruption ranking,
Terrorism Ranking, Easy of Doing Business and Competitiveness ranking.
Research paper is about the entrepreneur’s in modern economic
development for doing business in Pakistan my first hypothesis is the lack of
investment that can be result of unstable conditions in the country. If
23
investment will increase the numbers of companies in Pakistan will also
increases. If Investment in the country is more than it will be considered that
more companies will be created and number of import will increase and
economy of the country will be become powerful due to which Pakistan will
develop more fast and efficient way. Finding limitation for the number of
possibilities for domestic companies and the factor which prevents the
development of entrepreneurs in Pakistan.
Furthermore second hypothesis assuming that the conditions for
entrepreneurship development are very poor and the lack of government’s
actions had led to this situation and the low level of companies in Pakistan is
the result of poor entrepreneurship environment. This is an important thing
which entrepreneurs has to view when it comes to invest in any other countries.
Low level of companies can be cause of many different reasons most
commonly is the government policies because government policies if suitable
for foreigner investors then it has positive effect for entrepreneurs. If
government policies are in the favor of entrepreneurs then it will be easier for
any foreigner investor to invest their money in the country. Second hypothesis
will emphases on low level of companies in Pakistan factors that are
responsible for it and how it effect entrepreneurs.
So assuming that the conditions of entrepreneurship development are
very poor due to the lack of government actions that lead to this situation.
Therefore, action taken by our government can lead to the change in economic
conditions in Pakistan. Which increase Foreign Direct Investment and as well
as entrepreneurship development.
3.5.3 Research Problem, assumptions and limitations
Every research has problem while working, so it is not true to say that
research topic of my thesis does not exist any problem. So, there are some
research problem which are to be discussed so that the thesis can be make more
24
clearly with its uniqueness. The initial problem in this research come when we
used to think of getting data from resources through internet, literature, books,
articles or from any other verified sources.
As Pakistan from the past history is not a stable country for its political
aspect because before 2008 there is a change in the country regarding
government. From the independence of Pakistan 1947 to 2008 there is mixture
of democracy and dictatorship. And before the year 2000 it is very difficult to
find data in Pakistan regarding research topic. It is not impossible but it need
lot of time to be search from authentic resources. Another problem in research
arise when we want to find the most important issues to be found in Pakistan
when we talk about qualitative data because every time the level of needs for
business investors is changed after some year in Pakistan. So focus on main
issues which is lack of information which may cause problem.
The assumption in the paper will focus on the entrepreneurship
development in Pakistan for about last 20 years. Collection of data from the
year between 1990 to year 2016 on different factors regarding the business,
economy, entrepreneurship development and foreign investment in Pakistan.
Then these data are used to make analysis the facts and figures and to make
some conclusion and suggestion for the entrepreneurship development in
Pakistan in modern economic conditions. Using different small and medium
company’s data working in Pakistan and for how long they are working in
Pakistan. Are foreign investment and companies ratio is increasing or
decreasing from the year 1990 to the year 2016. Data will be analyzed by the
collection of qualitative as well as quantitative data.
As this is master degree thesis so it has limitation regarding research as
well as data result analysis. If we look commonly about research of my thesis
there is the limitation of data to be found which are within the access such
which are to be collect through payments and by requesting to any organization
or people personally which may not possible. The research will be based on
25
Pakistan so the data and all the result will be focused in Pakistan business
environment for entrepreneurs. Literature review is also limited because my
research has not such large number of papers written in Pakistan because
business was not the main focus of the Pakistan government in the past for the
entrepreneurship development. Time is also limited in my research which
means that the research will be not such wide it will be focus on some main
points. Result of the thesis will also be limited, after the collection of data
using qualitative and quantitative data may be view whether the assumption
was correct or not. The research has the limitation of analyzing of the data and
using the data which is collected making the suggestion which the data is
showing it may provide some future prediction which can be true in the future.
So limitation can be consider that change of economic conditions region may
change more fast then according to what will be predicted from the research
done by the analysis of data.
3.5.4
Summary
There are number of methods including literature review, case studies,
and surveys, interviews empirical data analysis for analyzing the research topic
for my thesis, but according to my point of view the best way through which
my thesis done in better way is by using the combination of qualitative and
quantitative methodology. Research methodology includes the collection of
data and analyzing of data. So it is cleared that the methodology which will be
used in research thesis will help in finding some facts and collection of some
real numerical data and designing the data in such a way that it can be analysis
that the data is showing the results in positive or negatively and using these
results making some conclusion and suggestion for the feature business
development in the Pakistan.
Purpose of this study is to show the real position of Pakistan for the
entrepreneurs who want to invest in the country but they are not getting the
26
information for the modern economic business environment change in
Pakistan. Through this research it will be easy for the investors or
entrepreneurs to view the changes taking place with in the region and how it is
effecting and benefit the people who want to invest in business in Pakistan.
Research will help to provide some data that how is entrepreneurship
development is important for the under development country like Pakistan and
how will it effects the country economic situation. Research will be a step for
providing the positive and negative parts for the people to analysis while also
help the government to view the negative side of business for investors to make
the business conditions more effective and suitable for the entrepreneur’s
development in modern economic conditions.
27
IV
Finding and Analysis
4.1
Introduction
In the findings the factors that are effecting the business and
entrepreneurship development in the country will be analysis. Problems
regarding the entrepreneurship in Pakistan will be analysis and then some
suggestion will be conclude through which the situation of the entrepreneurship
in the country can be make better.
For analyzing the business conditions in Pakistan it is necessary to know
the overall business conditions that can affect the business in the country. So
research findings will collect the data of doing business in Pakistan. Doing
Business will show how much it is easy or difficult for the entrepreneurs and
investor to invest in Pakistan as compare to the other countries of the world.
The next findings will focus on competitiveness in Pakistan. This data
will analysis the development level in different sector which are linked with the
business
and
economy
development
in
Pakistan,
comparing
the
competitiveness with the other countries in the world.
Then the finding will focus on some other important factors which
should be known before investing in the country. These factors includes
political, economic, cultural, environmental conditions of the Pakistan.
4.2
Analysis of Data for Doing Business in Pakistan
Research will be used to analyze two things first to analyze the
environment for the entrepreneurship development in Pakistan and second
thing to analyze the factors that influence the development of entrepreneurship
while doing business in Pakistan.
To analyzing the data for doing business in Pakistan considering the
global indicators which are necessary for the people to view before thinking to
28
invest in the country. It is used to show the economy conditions of the country
going towards good or bad conditions.
Economies are ranked on their easy of doing business, from 1-190
countries.[14, p.61]. A high ease of doing business ranking means the
controlling environment is more favorable to the starting and operation of a
local firm. The rankings are determined by sorting the collective distance to
limit scores on 10 topics, each consisting of several indicators, giving equal
weight to each topic. As Pakistan is located in South Asia region with having
low income group and English as legal origin. Paper analysis the data from
period 2009 to 2016. My data include the 10 basic factors through which it can
be easily analysis that what factors difficulties or disadvantages a company can
face while doing business in the Pakistan and also can analysis the factors
easiness or advantages a company can get while doing business in Pakistan.
The factor in paper discuss are the International ranking of Easy of doing
business in Pakistan, Starting a business, Enforcing a contract, Getting credit,
closing a business, Registering a property, Protecting investors, Paying taxes,
Trading across borders, Dealing with construction permits. [14, p.61] Each
factor include sub factors through which analysis of ranking is made. Starting a
business consist of Procedures, time, cost and minimum capital to open a new
business, Dealing with construction permits consist of Procedures, time and
cost to build a warehouse, Registering property consist of Procedures, time and
cost to register commercial real estate, Getting credit consist of Strength of
legal rights index, depth of credit information index, Protecting investors
consist of Indices on the extent of disclosure, extent of director liability and
ease of shareholder suits, Paying taxes consist of Number of taxes paid, hours
per year spent preparing tax returns and total tax payable as share of gross
profit, Trading across borders consist of Number of documents, cost and time
necessary to export and import, Enforcing contracts consist of Procedures,
time and cost to enforce a debt contract, Resolving insolvency consist of The
29
time, cost and recovery rate (%) under bankruptcy proceeding. Easy of doing
business consist of all nine factors comparing with the overall countries.[14,
p.61; 74, p.66; 75, p.66; 76, p.67; 77, p.67; 78, p.67; 79, p.67; 80, p.67; 81,
p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
The start of business in Pakistan was better in 2009 [79, p.67] as
compare to 2017 [14, p.61] this condition becoming worse due to several issues
in starting business in Pakistan. These problems are in the form of
communication delay, main decision making, lack of loyalty and slow labor
force. They all take part in the high cost of doing business in this country.[79,
p.67; 14, p.61]
Describe the overall factors that are causing difficulty starting business,
the first and most important way to operate a successful business is a good
communication due to the lack of communication. In terms of starting a
business, it will expect that local companies will communicate and respond to
questions and interactions with investors so that businesses can easily run.
Most Pakistani businesses do not even have the appropriate procedure to
answer such questions. They do not respond to emails and do not allow their
foreign counterparts to be informed about some changes in the decisions. If
emails are sent to business representatives of Pakistan, they need to follow up
with phone calls to make sure they open and respond to their emails. Thus it
delays the entire decision making process which increases the cost of starting a
business. The main decision making is one of the most difficult things to run in
your business in Pakistan, which is present in every business, its main decision
making culture is they do not want to control nor do they want to represent
their decisive powers in middle-level managers. Consequently, every decision
is required to go to the top authority, which is taking longer and can obstruct
your daily operation. Another problem in starting business in Pakistan is
compact corporate law, if someone has to decide to start their own business in
Pakistan and run the way you want it, you still have to bend on some roads.
30
Companies Ordinance 1984, which is mainly organizing private limited
companies in Pakistan. This is full of complex complicated rules, all of which
require paper and other documents. All companies will have to mention their
statements on their financial accounts, all the names of their directors, and their
annual general meetings and submit it to Securities and Exchange Commission
of Pakistan (SECP). This whole-ended new entrepreneurship is facing big
tension for most time, other countries are seen to invest foreign traders. Taxes
in the trading business cause problems because your business in Pakistan
makes merely a property or partnership business, you will not take any
advantage of tax in this country. Single owners and partnering companies do
not have to pay income taxes when they have four million Pakistani taxable
income. When you exceed this limit, you are entitled to Tax. However, if you
plan to start a private limited company or other types of limited companies in
Pakistan, then you have to pay tax, how much profit will you get, You are
eligible for tax, although the profit is of a one Pakistani rupee. For companies,
you must essentially describe your all financial statements including your
balance sheet, income statement, and cash flow of the Federal Board of
Revenue. When you want to make these financial statements anyway for your
company, there is an extra burden to fill them and send to the Federal Board of
Revenue that you do not want to take. Many other inadequate labor force losses
and other problems in starting a business in Pakistan are faced with foreign and
local entrepreneurs. Although there is no problem of labor in Pakistan, it has
been said that during the business of Pakistan, many powerful people have said
that they are very powerful. Labor force in Pakistan is not very educated nor is
it true. There is no sense of loyalty for their employers or representing them.
And often those times will be lost in time and will not completely fit their
everyday routine. This leads to a lot of time loss, which can increase the cost of
doing business in Pakistan. [14, p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83,
p.67; 84, p.67; 85, p.67; 86, p.67]
31
77
2009
63
2010
85
90
98
105
2011
2012
2013
2014
116
122
2015
2016
141
2017
Figure 1- Starting a Business (Rank 1-190)
According to the statistics of the business in Pakistan and the State Bank
of Pakistan (STP) also told that investment is getting out of the country. This is
mainly due to an inefficient contract enforcement mechanism; an essential
factor in attracting foreign and local investment. Over 70 categories are ranked
generally in large-scale hosting countries from private enterprises, while
Pakistan maintains 151 status for implementation of the contract. Quick cases
are needed for small organizations, which cannot be able to wait for the longterm results of resources to stay in resources, "the World Bank said on
enforcing the agreement. In Pakistan, the agreement The duration is extremely
unexpected and so unbearable that it is best, it can take about 3 years and in
worst, it can be forever, and as a result coming years the inefficient control
mechanism affecting the ranking in Pakistan. It was at its worst position of
169 in 2017. [14, p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67;
85, p.67; 86, p.67]
154
158
155
154
2009
2010
2011
2012
169
155
158
161
151
2013
2014
2015
2016
2017
Figure 2- Enforcing a Contract (Rank 1-190)
By 2014 the credit situation was improving, but due to lack of
government interest in this area in 2015, the position worsens. Getting a credit
in 2015 and 2016, if the government can be blamed for overall malicious
performance, it is a financial ministry, therefore the country's rating is
unwanted on getting credit. Due to the financial needs of the government's
budgetary budget, little investments were left to increase business.
32
The 2016 reforms were made to get credits that Pakistan had access to
credit information guaranteeing the law lenders' rights to inspect their data. The
Credit Bureau also expanded the coverage of its lender. In order to inspect their
own data, Pakistan legally increased access to credit through the rights of the
lenders. The credit bureau has doubled the coverage of its lender more than
this, thus increasing the lender information and more financial information is
provided to potential lenders. Pakistan now runs 82 runs in the field of credit.
[14, p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86,
p.67]
131
59
61
65
67
70
73
2009
2010
2011
2012
2013
2014
133
82
2015
2016
2017
Figure 3- Getting Credit (Rank 1-190)
According to data collected by Doing Business, dealing with
construction permits there requires 10.00 procedures, takes 250 days and costs
3.20% of the warehouse value for getting construction permit in Pakistan
according to 2016 report. The control in corruption makes the construction
ranking better in Pakistan 2016 strong action taking by government through
which the ranking becomes better to 61. But in 2017 the index of dealing with
construction permits, the country decreased its ranking to 150. There are 15
types of procedures that require 252 days for an investor to get a construction
permit. The worse become rank of construction in 2017 cause of procedures
that increased from 10 to 15 procedures and days increased from 250 to 252
days. [14, p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67; 85,
p.67; 86, p.67]
146
93
2009
2010
98
104
105
109
125
2011
2012
2013
2014
2015
33
150
61
2016
2017
Figure 4- Dealing with Construction Permits (Rank 1-190)
The overall registered property rating is falling in 2008. The reforms
made by government according to reform Pakistan made registering property
more expensive by increasing the capital value tax. Due to this reform the
effect starting becoming towards decreasing in registering property ranking. In
2011 the government reform in terms of making property transfer more
affordable by reducing the stamp duty rate. But the reform does not increased
the ranking towards betterment. And another correction by improving land
management by digitalizing the ownership and country records in 2017. But it
also made the registration property rating worse. There are 12 types of
procedures that require 18 days to meet them. Similarly, property registration
was required within 155 days, which is also a long term, which lacks the
interest of property registration in Pakistan. [14, p.61; 79, p.67; 80, p.67; 81,
p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
169
97
2009
119
126
125
126
125
114
2010
2011
2012
2013
2014
2015
137
2016
2017
Figure 5- Registering Property (Rank 1-190)
The protecting investors according to Doing Business report from 2009
to 2017 no such laws were reform to make the protection of investor more
better but the ranking of Pakistan overall is in better position out of 190
countries. The ranking was 2013 and 2014 was worse because of less
investment in the country which was the result of change of government. But
after 2015 the Protecting Investor rank again become better because of
government stability which help the investor protection for investing in
Pakistan. If we look up ranking of protecting investors according to doing
business report it can be easily judge that Pakistan is better place for the
34
investors to invest. [14, p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67;
84, p.67; 85, p.67; 86, p.67]
24
27
28
29
2009
2010
2011
2012
34
32
21
2013
2014
2015
25
27
2016
2017
Figure 6 - Protecting of Investors (Rank 1-190)
Paying taxes in Pakistan is very difficult because of laws make by the
government and are not implemented in ground reality. The Process of
collection of tax is very slow and the government corruption and bribes help
the people not for paying taxes. In 2009 the tax paying ranking was 124 and it
was become worse till 2015 between these years government try to make
reform in tax collection. In 2012 government increased profit rate for small
firms but it does not produce any contribution in collection tax and as a result
the ranking get worse. But in 2015 government focus more on how to collect
tax from Pakistan and government implemented different laws for collecting
tax. The Laws include the benefits to the people who come in tax circle. The
benefits to the tax payer works as a result the ranking of the Pakistan in paying
taxes improve till the year 2017 it become to 156. [14, p.61; 79, p.67; 80, p.67;
81, p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
124
2009
143
145
158
162
166
172
171
2010
2011
2012
2013
2014
2015
2016
156
2017
Figure 7- Paying Taxes (Rank 1-190)
The trading across the border from 2009 was better than in 2017 the
trading across border in 2016 and 2017 become worse because of the reforms
made by the government of Pakistan. As reform was made trading across
borders easier by introducing a fully automated, computerized system (the
Web-Based One Customs system) for the submission and processing of export
35
and import documents but the result becomes negative because before the
reforms the people have easy of moving and trading between the borders. The
strict security checks between the borders after 2015 was also a reason of
trading across the border to be worse. [14, p.61; 79, p.67; 80, p.67; 81, p.67;
82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
71
78
81
75
85
91
2009
2010
2011
2012
2013
2014
169
172
2016
2017
108
2015
Figure 8 -Trading Across Boarder (Rank 1-190)
Closing a business in Pakistan between worse 2012, 2013 and 2016 but
in 2017 it was again gets better the reason behind the worse position in 2012
and 2013 was the change of government in Pakistan and many investor stop
there business with in that period due to which the ranking become worse. The
changing of government and normal condition in the country makes the closing
a business rank better in Pakistan. In 2016 the government political situation
again make the close of business worse but in 2017 the government making
stability in country makes the condition of closing a business better. [14, p.61;
79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
74
78
71
78
53
56
67
2009
2010
2011
2012
2013
2014
2015
94
85
2016
2017
Figure 9- Closing a Business (Rank 1-190)
Easy of doing business in Pakistan become worse after 2009 the worse
ranking of Pakistan is because of government policies and corruption. The year
2009 to 2017 was the democratic period and the comfortability of doing
business decreases instead of increase. The government corruption, poor
policies regarding business and lack of interest made the investor more difficult
36
in these years and the ranking of the Pakistan becomes worse. [14, p.61; 79,
p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86, p.67]
77
85
83
2009
2010
2011
105
107
110
2012
2013
2014
128
138
144
2015
2016
2017
Figure 10- Easy of Doing Business (Rank 1-190)
Now using Figure (11) analyzing global arrangement of using all the
factors involved in the overall approach to business and the globalization of the
completion of business in Pakistan is to be analyzed. According to the Doing
Business Report, Pakistan implemented four business reforms in 2017. It's easy
to make a new registration easy to transfer commercial property and cross
border trade. Pakistan is among the South Asian economies who have made 20
business reforms in the past year, which cause 127 number of reforms
implemented in the region in the past 15 years. For small and medium of the
world. One of the four business reforms implemented by Pakistan, was a matter
of ease of starting a business easily by changing the need to get a digital
signature to incorporate a company with a low cost personal identification
number.Pakistan has improved transparency in the land registration process by
publishing fee schedule online and to complete the registration of any property.
Third, the country facilitates the prosecutors in cases of prejudice transactions
with interested parties by increasing the protection of minority investment.
Lastly, Pakistan imported and exported easy through the development of a
container terminal and its traditional platform for collecting electronic
documents.Last year, a major center of reforms in South Asia was in the
security sector of the minority investors, with which eight economies of halfthe-region implement the steps to strengthen security for the minority capital
minorities.
From the Figure (11) we the construction permit in 2016 was improved
because of the possibilities provided by the government for investors to invest.
37
Getting construction permit made by the government easy so that more
investor can do new business and new opportunities to be come for country.
Trading across boarder before 2016 was easy because of no security checks but
due to effect of terrorism in the country the trading across boarder also become
difficult and in the period of 2015 and 2016 was made difficult for the illegal
business purposes. Getting credit was easy in Pakistan till 2014 but due to the
increase in the foreign loans the getting credit made by the government
difficult and in 2015, 2016 was become very difficult as shown in Figure (11).
Paying of taxes in Pakistan due to reforms has made easy for the investors to
start their business easy because from 2015 it start decreasing from 172 rank
and in 2017 it was at 156 rank. Pakistan Providing big advantage to the
investors as in Figure (11) the 2014 for protecting investors was not good time
but after that the rank become better from 34 to 27 in 2017. Due to slow
reforms and implementation in business factors the easiness of the business is
still becoming worse till 2017 Easy of doing business was at 144 rank. [14,
p.61; 79, p.67; 80, p.67; 81, p.67; 82, p.67; 83, p.67; 84, p.67; 85, p.67; 86,
p.67]
200
180
160
154
158
146
143
124
119
140
120
100
80
60
97
93
155
145
162
155
166
158
172
161
171
169
158
154
126
125
126
98
85
83
81
67
65
107
105
98
85
78
70
131
128
125
116
114
108
122
105
104
90
75
74
67
125
110
109
105
29
32
77
71
59
53
85
78
63
61
56
24
27
28
2009
2010
2011
40
20
0
2008
94
91
73
71
151
138
137
133
78
172
169
156
150
144
141
85
82
61
34
21
2012
2013
2014
2015
Easy of doing business
Starting a Business
Enforcing a Contract
Getting Credit
Dealing with construction permits
25
27
2016
2017
Figure 11- Doing Business in Pakistan Indicators (Rank 1-190)
38
2018
4.3
Analysis of Data for Competitiveness in Pakistan
If we analyzed the competitiveness level of Pakistan around the world
we can easy understand the prosperity of the country regarding to the business.
The report will used to compare the development level of Pakistan with respect
the other 137 countries in the competitiveness list. The competitiveness report
will analysis the global ranking of Pakistan and then analyzing the 12 main
pillars of competitiveness which includes (Basic Requirements consist of
Institutions, Infrastructure, Macroeconomics, Health and Primary Education,
Efficiency Enhancers consist of Higher Education and training, Goods market
efficiency,
Labor
market
efficiency,
Financial
market
development,
Technological readiness, Market size, Innovation and Sophistication Factors
consist of Business Sophistication and Innovation) all these pillars will be
analyzed one by one to find out the problems and issues facing by the Pakistan
in the Competitiveness in the world.[88, p.67]
Now if we look at the Global Ranking of Pakistan from 2006 to 2016 we
can make analysis that in 2006 the ranking was 91 and after onwards the
ranking becomes 92, 101,101, 123, 118, 124,133, 129, 126 and 122 in the years
2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 respectively.
From this ranking we can say that the ranking in the years after 2007 was
getting to worst situation till 2013 and after 2013 the situation getting better
again towards increased in development of Pakistan. This situation worst from
2007 to 2013 was because of changing of government from dictatorship to
democracy and democracy was not such powerful to handle or make
development in all 12 pillars of competitiveness and because of the increased
of corruption, terrorism and short of electricity in these years have badly
affected the competitiveness of Pakistan globally. After the second tenure of
democratic process the global competitiveness of Pakistan has start increased
towards betterment from year 2013 to year 2016, so it’s easy to say that with in
second tenure of democratic period its start controlling the problems such as
39
corruption, terrorism and shortage of electricity which were the major issues of
the Pakistan. 12 pillars of competitiveness were also focused in the second
tenure of the democracy in the Pakistan through which the ranking becoming
towards improvement every year. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92,
p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
The global competitiveness report from the year 2013 shows that the
arrangement made by the government in the policies, institutions and factors
determining the output level has been increasing yearly. International
competitiveness report shows Pakistan is moving to provide free and fair
market conditions for the business. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92,
p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
91
92
2006
(125)
2007
(131)
101
101
2008
(134)
2009
(133)
123
118
124
2010
(139)
2011
(142)
2012
(144)
133
129
126
122
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 12- Global Competitiveness
Talking about the basic needs, people have not succeeded in improving
the basic needs of the government, including institutions, infrastructure,
economic economics, health and primary education since 2006, and in 2013 it
started the biggest problem. But due to its stability, the political situation in the
country will increase towards the development of basic needs in Pakistan. The
government's change in 2013 will create better policies for essential basic
needs in Pakistan and will make Pakistan a better position in the world 126.
[88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96,
p.68; 97, p.68] [Table 2]
40
93
101
2006
(125)
2007
(131)
110
114
2008
(134)
2009
(133)
132
130
134
142
134
131
126
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 13- Basic Requirements
Institutions played an important role in competing countries and in 2006,
at 79 in the construction of the institutions in 2006, but due to political and
terrorism, the development of the developing institution has stopped and the
basic element of basic needs of 2013. After the new government's new work,
they make better poles for corruption and they are starting to improve it from
2013 to enforce strict rules for development agencies and are becoming better
by 2016. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95,
p.68; 96, p.68; 97, p.68] [Table 2]
79
77
2006
(125)
2007
(131)
112
107
115
123
123
119
95
104
111
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 14- Institutions
Infrastructure is an impartial part of the country's economic development
as well as the basic needs of the people to compete with the world.
Government has a key role in planning the infrastructure and according to the
government's rating of the infrastructure, it cannot be focused on the years
since 2006 but can be concluded if the rating graph is analyzed. The
infrastructure may be better than the last few years. It's a good indication for
the future of Pakistan. In Pakistan, there has been massive investment in the
construction of Pakistan's infrastructure for the last 5 years. Basically the end
of the crisis in Pakistan in the energy sector resulted in increasing globalization
41
and the resulting infrastructure is growing globally. [88, p.67; 89, p.67; 90,
p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table
2]
67
69
2006
(125)
2007
(131)
85
89
2008
(134)
2009
(133)
110
115
116
121
119
117
116
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 15- Infrastructure
In 2013, macroeconomic commitment in Pakistan has developed to
overcome unemployment, government performance, structural behavior and
government's decision. The Government of Pakistan is implementing the
emerging measures for promoting the developing sector every year. Macro
Economy is an element that is used to describe the performance of the
country's economy, including unemployment, growth rate, overall household
products and inflation. If the economic factor is reduced, the country is moving
towards development in the country and the economy of the country is
increasing. Now the rankings worse than the rating ranked from the year 2006
to 2016, due to economic stability over the past four years, the government has
improved due to the stability and investment in the countries. [88, p.67; 89,
p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97,
p.68] [Table 2]
86
84
2006
(125)
2007
(131)
116
114
2008
(134)
2009
(133)
133
138
139
145
2010
(139)
2011
(142)
2012
(144)
2013
(148)
137
128
2014
(144)
2015
(140)
Figure 16- Macroeconomic environment
42
116
2016
(138)
Health and Primary education is the basic problem in Pakistan for not
developing. The primary education and health was better in 2006 than 2016.
The government in 2006 and 2007 was the not democratic and education focus
was much more but in 2008 the democratic government come the start focusing
on other issues not focusing in the health and primary education sector similar
things done by the new government in 2013. The Problems in the Health and
Primary sector consist of quality of education and health facilities provided are
not sufficient. Access to health is very difficult for poor people and primary
education is not such advance or improve that can benefit and inequality of
opportunities and infrastructure are also the barrier for getting better health and
primary education facilities. Basic requirement such as health and primary
education is not provide by the government then means that the country is not
developing and level of poverty is increasing. This sector is still in worse
position because of lack of interest by the country and which is effecting badly
to the country economy as well as competitiveness with the other countries
around the world. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94,
p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
108
109
2006
(125)
2007
(131)
116
113
2008
(134)
2009
(133)
123
121
2010
(139)
2011
(142)
128
129
127
128
2013
(148)
2014
(144)
2015
(140)
2016
(138)
117
2012
(144)
Figure 17 -Health and Primary Education
These include sub-index such as higher education and training,
equipment market performance, labor market performance, financial market
development, technology preparation and market size and efficiency for these
countries is important in the dynamic phase. Factory executives have explained
the development of fast-growth or rapid performance in countries. Statistics of
performance for Pakistan are not good and are going towards bad position.
Focus during the time from 2000 to 2016 shows that the government has not
43
played an important role in improving the performance factor. [88, p.67; 89,
p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97,
p.68] [Table 2]
91
90
92
95
100
98
104
101
107
113
89
2006
(125)
2007
(131)
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 18- Efficiency Enhancers
Higher education and training is not in good position as it should be. The
problems which faced by the higher education and training in Pakistan are
people have less access to universities this is because of expensive higher
studies. Quality is very low in the fields of academic, administration, research
and equipment, there is no linkage between university and industry for training
, examination system was faulty, good governance was nonexistent.
Higher education is necessary element for making development in
Pakistan and unfortunately no such steps taken for improvement in the sector
of higher education and training and is getting bad at its ranking from last ten
years. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95,
p.68; 96, p.68; 97, p.68] [Table 2]
104
113
123
118
123
122
124
129
127
124
123
2006
(125)
2007
(131)
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 19- Higher Education and Training
Mistakes, Accidents, Panic Sales, Suspicious Behavior and Conspiracy
of the Institute with internal information, there is not enough reason to increase
market relevant performance in the performance of a strong shape. If Pakistan
has good market efficiency then more investor will come for business and more
country will develop but for last ten years same result with good market
44
efficiency moving towards bad ranking but can be handle by making better
policies. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95,
p.68; 96, p.68; 97, p.68] [Table 2]
100
54
59
2006
(125)
2007
(131)
2008
(134)
83
91
93
97
103
100
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
116
117
2015
(140)
2016
(138)
Figure 20- Goods Market Efficiency
The lack of education in the country cause of unemployment and the
labor market efficiency in Pakistan in decreasing. Government policies are not
such strong to implement for educating people so that the labor market
efficiency in country increase. Labor market efficiency is till 2013 was getting
worse but after that it get improve and till 2016 is improving and in the future it
will be a good for labor market if more action taken by the government for
searching more resources for labor market efficiency. [88, p.67; 89, p.67; 90,
p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table
2]
91
2006
(125)
107
2007
(131)
121
124
131
136
130
138
132
132
129
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 21- Labor Market Efficiency
The financial market was better before 2015 but after that the ranking
show that the financial market development is getting worse this can be
because of lack of interest by the government so there should be such action
taken to maintain the financial market development continues in Pakistan.
Financial market development ranking in Pakistan is due to Debt issue
borrowing money from different international organization, national exports
and taxation increased the financial market development ranking. [88, p.67; 89,
45
p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97,
p.68] [Table 2]
129
99
73
55
2006
(125)
2007
(131)
71
64
73
70
73
67
72
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 22- Financial Market Development
Before the reforms made in 2014 in technology readiness the culture of
innovation and making research and development institution was not in the
priority of government. But due to the change of condition of the world in
technology advancement reforms were made in 2015 for providing research
and development center and finding new innovations for future of Pakistan.
Measuring the technology measurement in Pakistan for last 4 years from 2013
to 2016 shows that Pakistan is improving in the technological readiness and in
the future it will be better if taken more effective steps by the government. [88,
p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96,
p.68; 97, p.68; [Table 2]
77
85
2006
(125)
2007
(131)
100
104
109
115
118
118
114
113
107
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 23- Technological Readiness
Market size of Pakistan was effected badly in year 2008 to 2014 because
there was energy crises at its peak no initiatives were taken before to overcome
energy crises problems but after the new government come in 2013 urgent
steps were taken by the government to overcome energy crises in the country
and as a result of this the market size was again become stable. Market size in
Pakistan is in good ranking and the data show that it is improving continuously
and in the future it will be huge market size for the investors and the country
46
competitiveness level will become better. [88, p.67; 89, p.67; 90, p.68; 91,
p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
29
28
29
2006
(125)
2007
(131)
2008
(134)
30
2009
(133)
31
2010
(139)
30
30
30
30
2011
(142)
2012
(144)
2013
(148)
2014
(144)
28
29
2015
(140)
2016
(138)
Figure 24- Market Size
A decent rating in innovation and correction offers a way to the country.
Key made reforms that take advantage of innovation and psychology can help
promote the modern industrial base. The primary industry where Pakistan can
get competitive edge, it should be recognized and it has to be resolved for long
term reforms to ensure their development. Issues like education and health care
have been born, the government will have to get political consensus so that
today the enforced reforms will not be returned by the next administration.
Innovation and sophistication factors shows how much Pakistan is expert in
business and innovation. According to the data the level of sophistication in
business and innovation is poor and government has not taken an action for the
betterment of this and for the last ten years from 2006 to 2016 the position is
getting bad. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92, p.68; 93, p.68; 94, p.68;
95, p.68; 96, p.68; 97, p.68] [Table 2]
73
60
2006
(125)
2007
(131)
85
84
76
72
75
78
83
89
85
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 25 -Innovation and Sophistication Factors
Technology is playing a major role in business psychology, but people
should be increasingly accustomed to increasing technology due to low
education, but time is to improve the better business location. Pakistan's
business skills are not improving and in the country's development and
competitive capabilities. Making rules and implementing them can be made
47
and improve government favors. [88, p.67, 89, p.67; 90, p.68; 91, p.68; 92,
p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
66
2006
(125)
82
87
81
79
76
78
85
81
86
95
2007
(131)
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 26- Business Sophistication
Government initiative of providing facilities in different laboratories are
getting success in producing new innovations.
Innovation in Pakistan is
improving since last three years and it can be hope that in the future more
innovation are to be come. So the innovation factor is providing good image
for the competitiveness globally. [88, p.67; 89, p.67; 90, p.68; 91, p.68; 92,
p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
60
59
2006
(125)
2007
(131)
82
79
75
75
77
77
88
89
75
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
Figure 27- Innovation
Now if overview all three factors of competitiveness and there sub
index. It is easy to say that the stability of government has make the positive
effect on the competitiveness ranking globally for Pakistan and is moving
towards the improvement in the competitiveness globally. The reports from
year 2006 to year 2016 used different number of countries for competitiveness.
So it’s easy to describe the statistics rather than by using the graphically. In
2006 the competitiveness was 91 out of 125 countries and every year it
decrease and in 2016 there were 138 countries for competitiveness. Since 2013
due to the speedy actions taken by the government many factors are improving
in the factors but some are still to be improved and the improvement speed is
not such fast as it should be. There are many reasons such as corruption,
political conflicts, and violation of laws. So if the Pakistan wants to compete
the world the government should focus on competitiveness factors
48
improvement. This can only be done by putting all the competitiveness factors
in emergency position in the country for developing and Pakistan will be able
to obtain the trust of the investors around the world by making their
competitiveness level better around the world. [88, p.67; 89, p.67; 90, p.68; 91,
p.68; 92, p.68; 93, p.68; 94, p.68; 95, p.68; 96, p.68; 97, p.68] [Table 2]
4.4
Analysis of Important Factor for Business from 1990-2016
Studying the literature review from author’s paper analysis some
important factors are chosen to review to know the business development in the
country. These factors describing the environmental conditions of the country
regarding the economic and business development in the country. Factors
discuss are Population, Employment, Economic growth, Gross Domestic
Product (GDP), Birth and Death rate, Gross National Product, Foreign Direct
Investment (FDI), Corruption, Terrorism, Easy of Doing Business,
Competitiveness. All these factors are used to analyzing the overall economic
conditions in Pakistan from the year 1990 to the year 2016. [25, p.62; 51, p.65;
52, p.65; 53, p.65; 54, p.65; 55, p.65; 56, p.65; 57, p.65; 58, p.65; 59, p.65; 60,
p.65; 61, p.65; 62, p.65; 64, p.66; 65, p.66; 66, p.66; 67, p.66; 68, p.66; 69,
p.66; 70, p.66; 73, p.66; 87, p.67; 98, p.68] [Table 3]
According to the Figure (28) the growth in Economy of the country from
the year 1991 to the year 2016 is shown. The economy growth in 2016 is much
better from the previous years. The economy growth of the country is
increasing from the last five year as shown in figure (28) this is due to the
stability of democracy and control in terrorism activities make stability in
Figure 28- Economic Growth (%)
49
5,74
4,71
4,67
4,4
3,51
2,75
1,61
2,83
4,24
4,89
3,92
business sector of Pakistan. [Table 3] [53, p.65; 54, p.65; 68, p.66; 73, p.66]
The Gross Domestic Product of the Pakistan from the year 1991 to the
year 2016 is shown in Figure (29). The overall GDP growth percentage is not
strong and in 2009 it was it worst position due to the political situation in the
country but after that from the year 2010 the GDP growth becoming better but
is not moving as fast as other countries and government had not taken any
emergency steps to improve the GDP of the country. [Table 3] [69, p.66]
6
4
4,6
5,17
5,43
3,7
4,4
2,6
2
3,6
4,1
4
4,5
0,4
0
Figure 29- Gross Domestic Product (%)
Foreign Direct Investment (FDI) was best in the year 2008 but after that
the growth in FDI is not increased and was not at good position at its growth at
it should be this is because of the last 6 years were democratic government
period and government was not able to attract the Foreign Investment. But
from last two years government is making their efforts to attract foreign
investment and as a result FDI is increasing but very slow as shown in Figure
(30). [Table 3] [57, p.65]
6
5,1
4
2,34
2
0
0,53
0,9
2,02
1,33
0,86
1,33
1,87
0,98
1,51
Figure 30- Foreign Direct Investment (%)
Terrorism is now a days main factor that can damage the economy of
any country since 2004 to 2015 Pakistan face extreme terrorism in country
before 2015 no strong actions were taken against terrorist group. But after 2015
government changes it policies and taken a strong actions against terrorism
because it has effect the economy of the Pakistan very badly. In Figure (31) it
50
shows that actions taken by government reduce the terrorism in the country and
as a result economy is also moving towards stability. [Table 3] [70, p.66]
9,5
9
8,5
8,52
8,61
2009
2010
8,67
8,86
9,07
9,07
8,61
8,3
8
7,5
2011
2012
2013
2014
2015
2016
Figure 31- Terrorism Index (1-10)
According to economic analysts, the main element of the population
discussing close contact between population and economic development. If the
population of the country is more than its GDP, it will become a problem.
Quality and quality of life will reduce if its population is more than economic
growth. Growth of population growth and poverty of Pakistan's environmental
resources will harm its economy, reduce its social relations and will strengthen
the political system. Pakistan has negative Impact of increase in population in
society and admitting that the population is problem of Pakistan. Population
depending on its available Resource and use by the people of these resources.
Due to increase of population in Pakistan the resources are becoming less as
compare to people using that resources as a result majority of citizens in
Pakistan do not meet their basic needs. About two-thirds of the population is
less than $ 2 a day; and one third of our population lives below the poverty
line. Currently, Pakistan's population was more than 194 million, from 1990 to
124 million. Pakistan's GDP was $ 56.56 billion and it reached $ 283.66 billion
by fiscal year 2016. Pakistan is a serious challenge of population development
with a growth rate of 1.9 percent per year. It is estimated that after 37 years,
Pakistan's population will double. It is incredible that economic growth keeps
growing from this annual growth. Economic growth in Pakistan is very slow,
due to its large and growing population. This growing growth is not just
worried but it's dangerous.
51
The blast will destroy Pakistan. Half of Pakistan's population is less than
15% and is less than a third. The cities of Pakistan extend faster than the
population, because during our independence, many refugees from India are
settled in urban areas. Urban population expanded between 1951 and 1981.
Pakistan's growing population has a huge impact on its society. Due to rising
population of unemployment, pollution, low quality standards, poverty, no
agricultural development, failure of health and education facilities, lack of
resources, inflation, such as riots, violence and drug addiction there are some
issues. As a result of increasing unemployment rate in Pakistan, the difference
between the rich and the poor will expand. Population growth also affects the
country's resources, there will be no lack of resources for any person.
Infrastructure is also affected by the underlying population. It is very
influenced by the growth of environmental populations. Another serious
problem is the highest rate of unemployment in our country, in rural areas
prefer families to work for labor and to protect the ages. It leads to an
increasing population, as long as they do not make their children a son, they
will give birth to the pair. Many families believe that family planning is nonIslamic. [61, p.65, 87, p.67, 51, p.65, 52, p.65] [Table 3]
300
200
100
0
175,9 173,5 177,1 180,7 184,3
124,6 147,2 158,2
188
191,7 194,6
Figure 32- Population (In Millions)
Figure (33) shows the difference in Birth and Death Rate in the country
birth of the country is increase largely as compare to the death rate in the
country. This difference in the ratio also effecting on the economy of the
country. Government should take some strong steps to control the difference in
birth and death rate so that in future population cannot effect to the economy.
[Table 3] [51, p.65, 52, p.65]
52
6,7
6,8
25,6
26,1
26,4
6,9
7
7,2
26,8
27,2
27,5
Death Rate (%)
7,3
7,4
7,6
28
28,4
25,53
7,57
8,33
9,34
34,09
36,04
Birth Rate (%)
Figure 33- Birth and Death Rate percentage
According to the Figure (34) Pakistan is contributing very little part in
world FDI this is because of not utilizing of the country resources properly.
Pakistan is agricultural country but every year agriculture deficit which is the
failure of every government. Now if we see FDI per GDP is also not better but
GNI of the country is better more focus can make them better. [Table 3] [57,
p.65, 62, p.65, 69, p.66]
5
4
3
2
1
0
World FDI
FDI investment per GDP (%)
Gross National Income (%)
Figure 34- Comparison of World FDI, FDI per GDP and GDP
Employment ratio in Figure (35) shows that it is not increasing as fast as
population is increasing due to which unemployment ratio is also becoming
problem. Economic Growth is not increasing so fast before 2018 because of
unstable political situation, terrorism,
corruption problem faced by
government. Foreign Direct Investment was also decreased in that period, the
export of the country decreased while increasing in import cause a huge lose in
economy and still not in control, Easy of Doing business and competitiveness
also was effected in that period of time. [87, p.67; 87, p.67] [Table 3]
53
70
60
50
40
30
20
10
0
33,22
40,09
48,32
56,92 56,52 57,42 54,09
52,71 54,04 55,17 55,8
Figure 35- Employment percentage
Small and medium companies ratio is not affected in period from 1990
to 2016 it come slow but the number are still increasing. Before 1990 there
were 775 small and medium companies were working in Pakistan out of which
53 were only foreigner companies recorded officially but in 2016 the ratio of
small and medium companies 2492 out of which 927 are foreigner companies
if analyzing this data we can conclude that foreign investment or investment
with in country is not causing any serious problem for the investor for doing
business in Pakistan and closing the business. According to the result all the
developed foreigner countries like USA, UK, France, China, Japan, Australia,
Middle East, far eastern and other countries have invested huge amount in
Pakistan this proves that Pakistan is a good place for the investors to invest.
Overall government policies, decision Making, and implementing the laws in
the country can make the economy of Pakistan strong. [31, p.63; 32, p.63; 33,
p.63; 34, p.63; 35, p.63; 36, p.63; 37, p.63; 38, p.63; 39, p.63; 40, p.63; 41,
p.63; 42, p.63; 43, p.64; 44, p.64; 47, p.64] [Table 1]
Table 1- Small and Medium Companies in Pakistan
Companies
1947-2005
2006
2007
2008
Small and Medium Companies (SMCs)
242
436
38 (610)
168(648)
Foreign companies
606
653
710
725
USA
109
124
133
138
UK
90
98
102
101
54
France
24
26
23
23
Germany
24
20
24
22
China
18
20
21
24
Japan
24
26
34
35
Australia
12
13
12
17
Middle East Countries
30
39
48
45
Far Eastern Countries
12
46
72
59
Other European Countries
61
111
122
97
Other Asian Countries
91
65
55
58
Other Countries
72
65
64
106
Companies
SMCs
2009
127
(775)
2010-2011 2012
214
238
(1225)
(1438)
2013
210
(1623)
2014
253
(1792)
2015
310
(2079)
2016
431
(2492)
Foreign companies
53 (769)
22 (798)
31 (807)
35 (838)
22 (847)
42 (881)
54 (927)
USA
145
4 (154)
4 (154)
5 (158)
1 (156)
1 (156)
2 (158)
UK
112
4 (132)
4 (115)
4 (119)
2 (119)
1 (120)
3 (119)
France
23
0 (24)
1 (25)
0 (25)
1 (26)
2 (28)
1 (28)
Germany
23
0 (22)
0 (22)
2 (23)
2 (25)
2 (27)
2 (29)
China
29
1 (33)
2 (35)
3 (38)
7 (45)
17 (62)
31 (93)
Japan
36
1 (36)
0 (36)
1 (37)
1 (38)
1 (39)
0 (37)
Australia
Middle East
Countries
Far Eastern
Countries
Other European
Countries
Other Asian
Countries
18
0 (20)
0 (20)
1 (21)
0 (20)
2 (22)
1 (21)
70
4 (63)
4 (57)
7 (63)
2 (62)
4 (64)
5 (69)
107
5 (114)
5 (112)
4 (116)
4 (119)
6 (125)
2 (125)
101
1 (81)
8 (124)
6 (129)
2 (130)
6 (135)
6 (141)
19
1 (34)
1 (15)
0 (15)
0 (14)
0 (13)
0 (14)
Other Countries
86
0 (56)
2 (92)
2 (94)
0 (93)
0(90)
1 (93)
In Figure (36) shows the comparison of Pakistan overall small and
medium companies with the foreign companies invested in the country from be
2006 to 2015 and Foreign companies contributes large part in investing in
Pakistan and every year the small and medium companies increasing this
55
shows that Pakistan for investor for small and medium companies is a better
place. [Table 1] [31, p.63]
2500
2000
1500
1000
500
0
Small and Medium Companies (SMCs)
Foreign companies
Figure 36- Comparison of S&M with Foreign Companies
Import and Export of the Pakistan is shown in Figure (37) and according
to data Pakistan import was till 2013 but due to the strong tax reforms made by
the government and new production unit with in country created has controlled
the imports growth in the country by export growth is still decreasing and not
such strong initiatives taken by government so that export could increase which
will make the country economy strong. [Table 3] [59, p.65; 56, p.65]
Figure 37- Import and Export comparison
56
15,8
8,6
17
10,5
18,6
12,2
20
13,2
20,4
12,4
Export /GDP (%)
18,9
13,9
19,3
13,5
19,6
12,4
21,5
13,24
16
15,23
19,6
16,5
Import/ GDP (%)
V Conclusion
The purpose of this research is to review modern economic conditions
for the development of business development in Pakistan. We examine the
economic condition factors that play an important role in making the country's
economy. Then we will analyze the factors that affect Pakistan's economy and
eventually implement those factors that can help improve the economy of
Pakistan for the development of entrepreneurship.
In this study time series data of Pakistan covering a period of 1990 –
2016 has been used for conducting a qualitative and quantitative analysis to
determine the relationship between entrepreneurship development and
economic conditions in Pakistan. The study is unique because it uses most
update data of Pakistan in examine and confirming the economic conditions of
the Pakistan and the favorable conditions for entrepreneurship development in
Pakistan.
The
first
hypothesis
used
factors
which
are
important
for
entrepreneurship and economic development in Pakistan, factors were used in
research after study of different literatures. These factors includes Population,
Employment, Economic Growth, Gross Domestic Product (GDP), Birth and
Death Rate, Gross National Income (GNI), Foreign Direct Investment (FDI),
Import and Export Rate, Corruption, Terrorism, Easy of Doing Business,
Competitiveness and number of Small and Medium companies in Pakistan.
The result found after analyzing the factors was not depending on any one
factors for entrepreneurship development and economic conditions. The results
shows that in different year’s different factors involved in effecting the
entrepreneurship and economic development. According to the results the time
period between 1990 to the period 1998 the factor involved in effecting
economic and entrepreneurship development was the increase of population,
government instability, corruption. But after 1999 to 2008 the factors were
changed and the effect caused by non-democratic government, population
increase, terrorism. Now after 2008 the new democratic system take placed and
57
till to 2016 Pakistan is under control of democratic governments during this
period of 2008 to 2016 the factors for the entrepreneurship and economic
conditions analyzes it is easy to say that factors such as terrorism, increased in
economic growth, GDP, FDI, import and export, competitiveness ranking. But
still problem in controlling of Population, Corruption and Easy of doing
business factors. According to the results and study it can be conclude that the
conditions of economic development in Pakistan for entrepreneurship are not
such bad but due to lack of interest by the government and less implementation
of laws made for the authority for country economy cause the problems in
economic and entrepreneurship development in Pakistan. If overview the
results for the easy of doing business and competitiveness report of the
Pakistan it can be suggest easily that those factors which have made the laws
reforms and make them implement in the country showed improvement as
compare to the other factors. The results of the research shows that Pakistan as
the South Asia country is better than many other countries in South Asia region
but the improvement of the economic and entrepreneurship development is not
as fast and better as other countries have in the region who are going better
than Pakistan. China being a neighbor is great advantage for Pakistan in
according to business prospective because it is moving towards world top
economy and is being investing in Pakistan so that both countries can get
advantage of this investment. So there is a need of more reforms in laws and
their implementation in frequent need for the improvement of business
economic conditions and entrepreneurship development in Pakistan. Results
shows to make the strict law reforms for the control of Population, Corruption
and Easy of doing business factors. If it is achieved with in the few years then
the future of Pakistan will be bright because of FDI increase and the large
investment made by the country like China in Pakistan and In future Pakistan
will be in the list of fast growing economy of world and for the better place for
entrepreneurship development.
58
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http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_201314.pdf
98.World Trade Organization (WTO) Report Available at: Link: www.wtopakistan.org/
68
Appendix A
Table 2- Competitiveness Report
Years
(Number Of
Countries)
Global
Competitiveness
Basic
Requirments
2006
(125)
2007
(131)
2008
(134)
2009
(133)
2010
(139)
2011
(142)
2012
(144)
2013
(148)
2014
(144)
2015
(140)
2016
(138)
91
92
101
101
123
118
124
133
129
126
122
93
101
110
114
132
130
134
142
134
131
126
Institutions
79
77
95
104
112
107
115
123
123
119
111
Infrastructure
Macroeconomic
Environment
Health And
Primary Education
Efficiency
Enhancers
Higher Education
And Training
Goods Market
Efficiency
Labor Market
Efficiency
Financial Market
Development
Technological
Readiness
67
69
85
89
110
115
116
121
119
117
116
86
84
116
114
133
138
139
145
137
128
116
108
109
116
113
123
121
117
128
129
127
128
91
90
89
92
95
100
98
104
101
107
113
104
113
123
118
123
122
124
129
127
124
123
54
59
100
83
91
93
97
103
100
116
117
91
107
121
124
131
136
130
138
132
132
129
73
55
71
64
73
70
73
67
72
99
129
77
85
100
104
109
115
118
118
114
113
107
Market Size
Innovation And
Sophistication
Factors
Business
Sophistication
29
28
29
30
31
30
30
30
30
28
29
60
73
85
84
76
72
75
78
83
89
85
66
82
87
81
79
76
78
85
81
86
95
Innovation
60
59
82
79
75
75
77
77
88
89
75
69
Table 3-Factors for Economic Development
List of Factors
1991-1999
2000-2005
2006-2008
Population (In millions)
124.6
147.2
158.2
Employment (%)
33.22
40.09
48.32
Economic Growth (%)
3.92
4.89
4.24
GDP (%)
4.6
5.17
5.43
GDP (USD Billions)
56.56
101.85
153.24
Birth Rate (%)
36.04
34.09
25.53
Death Rate (%)
9.34
8.33
7.57
Gross National Income (%)
0.72
3.19
2.16
SMEs Companies Number
648
World FDI
0.16
0.09
0.2
FDI (USD Billions)
0.53
0.9
5.1
FDI investment per GDP (%)
0.89
0.98
3.33
Import/ GDP (%)
19.6
16
21.5
Import /GDP (USD Billions)
7.58
10.96
17.49
China (USD Billions)
-
-
-
UAE (USD Billions)
-
-
-
Indonesia (USD Billions)
-
-
-
USA (USD Billions)
-
-
-
Japan(USD Billions)
-
-
-
Saudi Arab (USD Billions))
-
-
-
Russia (USD Billions)
-
-
-
Export /GDP (%)
16.5
15.23
13.24
Export /GDP (USD Billions)
9.31
13
20.2
USA(USD Billions)
-
-
-
China (USD Billions)
-
-
-
UK (USD Billions)
-
-
-
Japan (USD Billions)
-
-
-
Saudi Arab (USD Billions)
-
-
-
Indonesia (USD Billions)
-
-
-
Russia (USD Billions)
-
-
-
87 (1999)
144 (2005)
134 (2008)
Import and Export / GDP
Corruption Ranking number
70
Terrorism Index (10)
7.6
(2006-2008)
Easy of Doing Business
85
(2008)
Competitiveness Ranking
92
(2008)
List of Factors
Population
(In millions)
Employment (%)
Economic
Growth (%)
GDP (%)
GDP
(USD Billions)
Birth Rate (%)
2009
2010
2011
2012
2013
2014
2015
2016
175.9
52.71
173.5
54.04
177.1
55.17
180.7
55.8
184.3
56.92
188
56.52
191.7
57.42
194.6
54.09
2.83
0.4
1.61
2.6
2.75
3.7
3.51
4.4
4.4
3.6
4.67
4.1
4.71
4
5.74
4.5
152.39
177.41
213.6
224.4
231.2
244.36
271.04
283.66
28.4
28
27.5
27.2
26.8
26.4
26.1
25.6
7.6
7.4
7.3
7.2
7
6.9
6.8
6.7
1.38
0.64
1.27
1.91
2.22
2.99
3
3.93
127
0.17
188
0.11
214
0.06
238
0.04
210
0.06
253
0.1
310
0.04
431
0.07
2.34
2.02
1.33
0.86
1.33
1.87
0.98
1.51
2.1
2.7
3
2.7
2.5
2.2
2.8
2.6
19.6
19.3
18.9
20.4
20
18.6
17
15.8
33.09
34.33
40.52
45.79
46.37
45.59
46.13
44.8
3.8
5.2
6.4
6.6
6.4
9.2
10.8
13.6
3.4
5.2
6.8
7.4
7.6
7.2
5.6
6.4
0.6
0.64
0.86
1.36
1.2
2.1
2.4
2.9
1.8
1.63
1.75
1.51
1.65
1.8
1.92
2.1
1.28
1.58
1.86
1.87
1.95
1.71
1.6
1.96
3.5
3.7
4.8
4.3
3.8
4.4
3
1.84
0.32
0.16
0.17
0.24
0.28
0.23
0.16
0.258
12.4
13.5
13.9
12.4
13.2
12.2
10.5
8.6
17.68
19.29
24.81
23.62
24.46
25.11
23.67
20.79
Death Rate (%)
Gross National
Income (%)
SMEs
Companies
Number
World FDI (%)
FDI (USD
Billions)
FDI investment
per GDP (%)
Import/ GDP (%)
Import /GDP
(USD Billions)
China (USD
Billions)
UAE (USD
Billions)
Indonesia (USD
Billions)
USA (USD
Billions)
Japan(USD
Billions)
Saudi Arab (USD
Billions))
Russia (USD
Billions)
Export /GDP (%)
Export /GDP
(USD Billions)
71
USA(USD
Billions)
China (USD
Billions)
UK (USD
Billions)
Japan (USD
Billions)
Saudi Arab (USD
Billions)
Indonesia (USD
Billions)
Russia (USD
Billions)
Corruption
Ranking number
Terrorism Index
(10)
Easy of Doing
Business
Competitiveness
Ranking
3.24
3.68
3.85
3.66
3.71
3.65
3.67
3.43
0.9
1.3
1.65
2.6
2.65
2.25
1.9
1.59
0.91
1.1
1.25
1.23
1.44
1.66
1.55
1.56
0.098
0.125
0.26
0.19
0.186
0.195
0.183
0.171
0.428
0.408
0.418
0.456
0.492
0.511
0.43
0.38
0.065
0.07
0.175
0.235
0.145
0.135
0.14
0.1276
0.087
0.144
0.19
0.185
0.208
0.186
0.16
0.1447
139
143
134
139
127
126
117
116
8.52
8.61
8.67
8.86
9.07
9.07
8.61
8.3
85
96
105
106
110
136
148
144
101
101
123
118
124
133
129
126
72
Appendix B
Table 4- Analysis of Papers
Article
No.
Issue
No
Year
Author
Journal
Research
Questions
Hypothesis
Data
Collectio
n
Methods
Method
Of Data
Analysis
Result of the
Study
1
Vol
.
37,
No.
3
2006
Cic
mil,
Svet
lana
And
Hod
gson
,
Dam
ian
New
Possi
bilitie
s for
Proje
ct
Mana
geme
nt
theor
y (a
critic
al
engag
ement
)
How
project
are to
be
handle,
manage
from
failure,
New
appraisa
l of core
tents of
project
manage
ment
New
trajecto
ries
related
to
projects
, project
perform
ance
and
project
manage
ment
Empiri
cal
Data
collect
ion
Revie
w of
Paper
s and
Work
shop
Analy
sis
2
Vol
um
e
13,
Iss
ue
1
2004
Alan
Bev
an,
Saul
Estri
n,
Klau
s
Mey
er
Forei
gn
invest
ment
locati
on
and
instit
ution
al
devel
opme
nt in
transi
tion
econo
mies
Analysi
s impact
of
differen
t
dimensi
ons of
newly
created
instituti
on
framew
ork in
EU
econom
ics of
FDI.
Instituti
on
which
one
better,
focus
on
private
sector
develop
ment,
country
with
more
financia
l market
sector,
liberati
on,
more
develop
ment
regulati
on and
competi
tion
receive
more
FDI,
Empiri
cal
Data
collect
ion
Base
mode
l
Analy
sis of
26
count
ries.
Pressuriz
ed
environ
ment in
most
projects,
Reexamine
of
necessar
y of
performa
nce in
projects,
research
of all
field of
hierarchy
in
projects
Comprisi
ng the
aggregat
e
institutio
n index
and
control
variables
.
73
3
vol.
31,
no.
2
2017
Hasa
n
Engi
n
Dura
na
and
Alex
andr
a
Ferr
eiraLop
esb
Deter
mina
nts of
comove
ment
and
of
lead
and
lag
behav
ior of
busin
ess
cycle
s in
the
Euroz
one
Analysi
s is the
lead and
lag
behavio
r of
busines
s cycle
in Euro
zone.
4
Equatio
n model
by
ordinar
y least
square
and
three
stages
least
squares
for
investig
ate
mention
ed
busines
s cycle
colorati
on.
Empiri
cal
data
collect
ion,
Revie
w of
literatu
re,
Data
analy
sis by
mode
ls 4
equati
on
mode
l and
3
stage
least
squar
e
mode
l to
analy
sis
the
data
of 17
EU
count
ries
4
Vol
.
40,
No.
6
2016
Igor
A.
Mak
arov
Russi
a’s
Partic
ipatio
n in
Intern
ationa
l
Envir
onme
ntal
Coop
eratio
n
Future
of the
Russian
for
foreign
investm
ent
Climate
environ
mental
change
in the
world
effectin
g the
Russia
for
Foreign
investm
ent.
reports
,
Literat
ure
By
using
the
report
s
from
UNF
CCC,
gover
nmen
t
envir
onme
ntal
19992014,
CO2
emiss
ion
from
energ
y use
and
ceme
nt
produ
ction
report
s
74
Eurozon
e that
usually
lead the
cycle are
the one
that are
wealthier
with
strict
employm
ent
legislatio
n, trade
relation
has
positive
influence
on
business
cycle and
labor
market
has
negative
effect.
The
country’s
natural
capital is
strengthe
ning
among
Russian
political
and
business
elites and
in future
Russia
will have
more
involvem
ent in
internati
onal
environ
ment.
5
Pol
icy
Res
ear
ch
Wo
rki
ng
Pap
er
525
5
2010
Davi
d
Tarr
Nata
lya
Volc
hkov
a
Russi
an
Trade
and
Forei
gn
Direc
t
Invest
ment
Polic
y at
the
Cross
roads
what
Russia
will get
from
World
Trade
Organiz
ation
accessio
n and
why
an
assessm
ent of
the
impact
of the
2008
law on
strategi
c
sectors
and the
increase
d role
of the
state in
the
econom
y
Empiri
cal
Data
Forei
gn
Data
analy
sis of
Russi
a
From
literat
ure
6
Vol
.
25:
195
–
224
2016
Mor
shed
Man
nan
Are
Bangl
adesh
,
India
and
Pakist
an
Read
y to
Adop
t the
UNCI
TRA
L
Mode
l Law
on
Cross
Borde
r
Insol
vency
?
whether
the
UNCIT
RAL
Model
Law
can
adequat
ely
plug,
what
Steven
Kargma
n calls,
‘the
glaring
gap in
the
internati
onal
insolve
ncy
architec
ture’
whether
its
adoptio
n will
improv
e the
ability
of these
jurisdict
ions to
handle
the
challen
ges of
crossborder
insolve
ncies
Empiri
cal and
Literat
ure
review
UNIC
ITRA
L
mode
l
revie
w of
other
count
ries
comp
arison
to
India,
Bangl
adesh
and
Pakist
an
75
Russia
the
largest
trade
surplus
in the
world in
some of
those
years.
Institutio
nal
reform to
improve
the
business
climate
is
necessar
y. Russia
rates
badly on
measures
of
institutio
nal
develop
ment
The
construct
ion of
such
architect
ure has
not yet
materiali
zed and
the
crossborder
insolven
cy
regime
of many
countries
remains
inadequa
te.
7
Vol
.
10,
No.
2
2013
MU
HA
MM
AD
ZA
KA
RIA
OPE
NNE
SS
AND
FDI
IN
PAKI
STA
N:
WHA
T
DOE
S
THE
DAT
A
TELL
US?
the
impact
of trade
opennes
s on
foreign
direct
investm
ent
(FDI) in
Pakista
n
Using
nine
variable
s to find
as
potentia
l
determi
nants of
FDI in
Pakista
n
Empiri
cal,
statical
ly and
literatu
re
review
Comp
aring
the
data
throu
gh
mode
l
analy
sis
and
static
ally
analy
zing.
8
19 :
SE
2014
Khal
il
Ham
dani
How
Govern
ment
can
motivat
es for
industri
al
investm
ent and
Foreign
Direct
Investm
ent.
The
Need
For a
Broader
FDI
Strateg
y,
Bolsteri
ng
Investor
Confide
nce
Literat
ure
review
,
Empiri
cal
Data
Analys
is
9
pp.
225
–
240
2015
Khal
il
Ham
dani
Forei
gn
Direc
t
Invest
ment
and
Tech
nolog
ical
Capa
bilitie
s:
The
Relev
ance
of the
East
Asian
Exper
ience
for
Pakist
an
Globa
lizati
on:
The
Chall
enge
for
Pakist
an
How
can
Pakista
n
overco
me the
problem
s from
globaliz
ation?
three
halftruths
together
yields
an
intracta
ble
predica
ment
for
Pakista
n
Literat
ure
Revie
w,
Empiri
cal
Data
Analys
is
Comp
aring
FDI
report
s of
intern
ationa
l
organ
izatio
n
relate
d to
Pakist
an,
comp
aring
follo
ws
the
privat
e
sector
,
Comp
aring
Differ
ent
intern
ationa
l
Forei
gn
Direc
t
Invest
ment
report
s,
PCE
C
analy
sis.
76
FDI is
more
than an
external
resource
inflow. It
can also,
and more
importan
tly,
moderniz
e
industry
and
better
integrate
Pakistan
with
internati
onal
producti
on.
Pakistan
is a
latecome
r to
globaliza
tion, but
the
nature of
the
process
is such
that rapid
advance
is
possible
with
smart
policyma
king and
determin
ed
collectiv
e effort
10
19 :
SE
2014
Man
zoor
Ahm
ad
Impro
ving
Regio
nal
Trade
to
Supp
ort
Pakist
an’s
Econ
omic
Grow
th
Things
need to
improve
which
are
effectin
g the
econom
y of
Pakista
n?
77
Pakista
n needs
to
benchm
ark its
tariffs
or trade
policies
with
those of
its
competi
tors and
rely less
on taxes
derived
from
internat
ional
trade.
Empiri
cal
data
analysi
s
Comp
aring
and
analy
zing
differ
ent
trade
agree
ments
Pakistan
must
allow
domestic
industrie
s and
infrastru
cture to
operate
in an
environ
ment that
maximiz
es its
potential.
Pakistan
must
restructu
re its
taxation
policies
and look
for ways
to
integrate
its
comparat
ive
advantag
es within
global
supply
chains
11
Vol
.(2)
,
2015
Elen
a
Yu.
Litsa
reva
“Pivo
t”
Towa
rd
Asia:
The
Strate
gic
Direc
tion
of
Russi
a’s
Forei
gn
Polic
y
Conc
ept
in a
Chan
ging
Balan
ce of
Powe
rs
What is
the
reason
for
Russia
Pivot
towards
Asia
specific
region
and its
effect?
The
AsiaPacific
region
shows
that
there
are
signific
ant
changes
here
and
these
changes
are
largely
connect
ed with
signific
ant
changes
in the
global
balance
of
powers.
Empiri
cal
Data
analysi
s
Litera
ture,
resear
ch
paper
and
revie
w of
report
s
12
Vol
29(
!)310
2016
Stef
an
Scha
ltegg
er,
Erik
G.
Han
sen
and
Flori
an
Lüd
ekeFreu
nd
Busin
ess
Mode
ls for
Sustai
nabili
ty:
Origi
ns,
Prese
nt
Resea
rch,
and
Futur
e
Aven
ues
Busines
s model
traits
and
normati
ve for
an ideal
type of
a
sustaina
bilityoriented
busines
s model
Three
questio
ns
analyzi
ng
interrel
ations
betwee
n
busines
s
models
and the
natural
environ
ment,
new
ontolog
ies and
in depth
empiric
Literat
ure
and
Empiri
cal
data
analysi
s
Revie
w of
literat
ure
and
analy
sis of
empir
ical
cases
of
organ
izatio
ns for
new
busin
ess
mode
ls
78
Russia
and
China
and
developi
ng the
most
effective
mechanis
ms for
the
multilate
ral
system
of
internati
onal
security,
not only
in the
AsiaPacific
region,
but
througho
ut the
world,
incorpor
ating the
principle
s, which
would
suitable
for all
parties,
but not
just
America
n or
Europea
n.
Research
provides
an
explanati
on of
theories
in an
organizat
ional,
individua
l or in
both
level for
the
future
research
for the
sustainab
le
business
model.
al
examin
ations
of
practica
l cases
are
conduct
ed in an
organiz
ation
13
Vol
(34
)
2006
Chri
stop
h
Zott
and
Rap
hael
Ami
t
Explo
ring
the
Fit
Betw
een
Busin
ess
Strate
gy
and
Busin
ess
Mode
l:
Impli
cation
s for
Firm
Perfo
rman
ce
we
explore
the fit
between
a firm’s
product
market
strategy
, and its
busines
s
model
79
analysis
of
novelty
centere
d
busines
s model
suggest
s that
couplin
ga
novelty
centere
d
busines
s model
with a
product
market
strategy
of
differen
tiation,
cost
leaders
hip, or
early
market
entry
results
in good
fit
Report
s,
theoret
ical
and
empiri
cal
data
Analy
sis of
data
tables
were
create
d to
comp
aring
the
differ
ent
types
used
in
busin
ess
mode
l and
to
analy
zing
the
data
using
that
tables
.
Main
result in
this
paper
was
explore
the fit
between
a focal
firm’s
businesslevel
competiti
ve
Strategy
and the
design
themes
of its
business
model.
14
WP
(55
3)
2004
Chri
stian
Seel
os
and
Joha
nna
Mair
Socia
l
Entre
prene
urshi
p:
The
contri
butio
n of
indivi
dual
entre
prene
urs to
sustai
nable
devel
opme
nt
Social
impact
of
entrepre
neurs in
efficient
ly
contribu
tion in
the
achieve
ment of
sustaina
ble
develop
ment
goals.
Analyzi
ng
Social
entrepre
neurs
and its
benefits
for the
econom
y and
social
develop
ment
Revie
w of
literatu
re
15
Vol
(
51)
2015
Ans
Kolk
The
social
respo
nsibil
ity of
intern
ationa
l
busin
ess:
From
ethics
and
the
envir
onme
nt to
CSR
and
sustai
nable
devel
opme
nt.
The 50
year
review
of data
of
Internat
ional
Busines
s (IB)
and
Journal
of
World
Busines
s
(JWB).
Effect
of
corporat
e social
responsi
bility
(CSR)
in the
sustaina
ble
develop
ment.
Analyzi
ng
differen
t
features
of CSR
while
compari
ng with
internat
ional
busines
s and
Journal
of
world
busines
s.
Revie
w of
literatu
re and
reports
.
80
Comp
aring
the
relati
onshi
p of
Socia
l
entre
prene
urs
with
differ
ent
aspec
ts for
sustai
nable
devel
opme
nt
and
the
impor
tance
of
social
entre
prene
urs.
Analy
zing
and
comp
aring
the
impor
tant
factor
s
effect
ing
CSR
in the
sustai
nable
devel
opme
nt
Paper
discussio
n found
the
importan
ce of
social
entrepren
eurs in
sustainab
le
develop
ment of
economy
and
society
and
shows
some
future
aspects
of social
entrepren
eurs.
Review
shows
three
subthem
es: the
(green)
environ
ment;
ethics,
rights
and
responsi
bilities;
poverty
and
(sustaina
ble)
develop
ment.
These
are
discusse
d
consecuti
vely,
including
main
contribut
ions and
promisin
g areas
to further
the field
16
Vol
(0)
2012
Xing
wan
g
Qian
,
Jesu
s
Sand
oval
Hern
ande
z
and
Jinz
huo
Z.
Garr
ett
Corru
ption
Dista
nce
and
Forei
gn
Direc
t
Invest
ment
Find
that
corrupti
on
distance
adversel
y
affects
the
volume
of FDI
to be
invested
in a
Host
country.
Positive
and
negativ
e effects
of
corrupti
on for
the
investor
s.
81
Differe
nce in
corrupti
on
Levels
betwee
n
country
pairs,
on
bilateral
foreign
direct
investm
ent
(FDI).
Using a
“gravity
”
model
and the
Heckm
an
(1979)
twostage
framew
ork on a
data set
of 45
countrie
s from
1997 to
2007
Revie
w of
literatu
re and
empiri
cal
data.
Analy
zing
the
level
of
corru
ption
using
gravit
y
mode
l on
FDI.
Review
of
samples
no such
evidence
have
been
found
which
show
that
corruptio
n effect
foreigner
s to
invest or
not to
host
country
but it
decrease
amount
value
from
source
country.
17
Vol
(112)
2015
Dim
a
Jam
ali,
Pete
r
Lun
dTho
mse
n
and
Søre
n
Jepp
esen
SMEs
and
CSR
in
Devel
oping
Count
ries
Various
aspects
of the
relation
ship of
small
and
medium
enterpri
ses
(SMEs)
to
corporat
e social
responsi
bility
(CSR)
in
develop
ing
countrie
s.
How
Corpora
te
Social
Respon
sibilitie
s and
Small
and
Mediu
m
Enterpri
ses
effect
on the
busines
s of
develop
ing
countrie
s
Literat
ure
review
Analy
zing
four
differ
ent
resear
ch
articl
es
and
make
concl
usion
regar
ding
to
these
articl
es
18
(32
7–
348
)
2016
Dmi
try
Med
vede
v
Socia
l and
econo
mic
devel
opme
nt of
Russi
a:
Findi
ng
new
dyna
mics
Econom
ic
policy
of
Russia
and its
econom
ic
develop
ment
internal
and
external
challen
ges.
How
Russia
is
facing
current
econom
ic crises
and
what
should
Russia
do for
improv
ement
of
econom
y in the
future.
Literat
ure
Revie
w,
compa
rison
and
Empiri
cal
data
Analy
zing
of
econo
my
data
for
year
2015
and
2016.
Comp
aring
the
data
of
which
is
impor
tant
for
econo
mic
growt
h.
82
Result of
four
articles
found
that CSR
and
SMEs
are
engaged
with
each
other for
the
improve
ment in
the
developi
ng
countries
.
Research
also
show
some
future
question
between
CSR and
SMEs to
be
search.
Research
of Russia
economy
shows
that It is
importan
t not
only to
restore
economi
c growth
but to
ensure its
longterm
sustainab
le rate.
The new
model of
economi
c growth
is first
about
growing
private
investme
nts by
creating
a
favorable
business
climate
and
encourag
ing
business
initiative.
19
Vol
(3)
2013
Luca
s
Bret
schg
er
Popul
ation
Grow
th
and
Natur
alReso
urce
Scarc
ity:
LongRun
Devel
opme
nt
under
Seem
ingly
Unfa
vorab
le
Condi
tions
How
can we
longrun
develop
ment
under
seeming
ly
unfavor
able
conditio
ns
83
Develo
ps a
model
with
nonexpone
ntial
populati
on
growth,
nonrene
wable
natural
resourc
es, and
endoge
nous
knowle
dge
creation
to
analyse
s
econom
ic
develop
ment in
the
medium
and
long
run.
Compa
ring of
Differe
nt
qualita
tive
data.
Using
mode
l we
will
comp
are
the
differ
ent
factor
s that
are
effect
ive
for
devel
opme
nt for
long
run.
The
paper
presents
a model
in which
it shows
positive
and
negative
aspects
regardin
g
populatio
n, labor,
and
resources
. Use of
richer
model is
effective
for
intermed
iate
sectors.
20
Vol
(8)
2013
Sori
nGeor
ge
Tom
a,
AnaMari
a
Grig
ore
and
Paul
Mari
nesc
u
Econ
omic
devel
opme
nt
and
entre
prene
urshi
p
How
entrepre
neurshi
p and
develop
ment of
econom
y of the
country
are
importa
nt for
the
country.
Using
the
theoreti
cal
model
analyzi
ng the
factors
effectin
g the
entrepre
neurshi
p and
econom
ic
develop
ment.
Literat
ure
review
.
Analy
zing
the
data
using
the
past
paper
s we
will
devel
op
theor
etical
mode
l for
the
entre
prene
urshi
p and
econo
mic
devel
opme
nt
and
conne
ction
with
each
other.
21
Pap
er
no.
(75
07)
2013
Wim
Nau
dé
Entre
prene
urshi
p and
Econ
omic
Devel
opme
nt:
Theor
y,
Evide
nce
and
Polic
y
To find
relation
ship
between
entrepre
neurshi
p and
econom
y for
the
develop
ment.
Relatio
nship
betwee
n
entrepre
neurshi
p and
develop
ment,
relation
ship
betwee
n
econom
y and
entrepre
neurshi
p,
contrib
ution of
female’
s
entrepre
Using
the
empiri
cal and
theoret
ical
data.
Analy
zing
the
theor
etical
and
empir
ical
data
to
find
the
relati
onshi
p
betwe
en
entre
prene
urs,
econo
my
and
84
Result
show
that
Economi
c
develop
ment and
entrepren
eurship
have
become
strongly
interconn
ected.
Entrepre
neurial
tradition
and
educatio
n are
engines
of the
entrepren
eurial
potential.
the
governm
ental
policies
and the
legal
framewo
rk can
stimulate
or block
entrepren
eurial
initiative
s
Paper
describe
the three
point
results
provides
fresh
perspecti
ves on
three of
the
outstandi
ng ideas
in
develop
ment
economi
cs,
entrepren
eurship
influence
s
develop
neurshi
p in the
develop
ment of
econom
y. In
develop
ing
countrie
s.
22
Vol
(91
,4)
2001
Davi
d
Sma
llbo
ne
and
Frie
deri
ke
Welt
er
The
role
of
gover
nmen
t in
SME
devel
opme
nt in
transi
tion
econo
mies
One of
the
issue
facing
central
and
eastern
Europe
countrie
s facing
is
centrall
y
planned
into
market
econom
ies is
the need
to
develop
small
and
medium
sized
enterpri
ses
(SMEs)
as part
of a
wider
social
and
econom
ic
restruct
uring.
85
the
develop
ment of
SMEs
can also
contrib
ute to
an
adjustm
ent
from
highly
concent
rated
structur
es,
based
on
massproduct
ion
method
s, to
more
flexible
product
ion
systems
devel
opme
nt
focusi
ng on
polici
es,
evide
nce
and
theori
es.
Literat
ure
review
and
empiri
cal
data.
Analy
zing
the
SMEs
in the
devel
opme
nt of
count
ry
using
literat
ure
revie
w and
by
using
empir
ical
data
analy
sis
how
SMEs
in
devel
oped
and
under
devel
oped
count
ries
effect
the
count
ry
and
its
econo
my.
ment
outcome
s
positivel
y as well
as
negativel
y,
entrepren
eurship
is in turn
significa
ntly
determin
ed by the
dynamic
s of
develop
ment
Results
from
empirical
surveys
suggest
that
many
enterpris
es are set
up,
survive
and
sometim
es even
grow
despite
governm
ent,
because
of the
entrepren
eurship
of
individua
ls,
reflected
in their
creativity
in
mobilizi
ng
resources
and their
flexibilit
y in
adapting
to hostile
external
environ
ment
23
(25
)
2010
Jere
my
K.
Hall,
Greg
ory
A.
Dan
eke
and
Mic
hael
J.
Len
ox
Sustai
nable
devel
opme
nt
and
entre
prene
urshi
p:
Past
contri
butio
ns
and
future
direct
ions
Concer
ned
with
sustaina
ble
develop
ment
and
entrepre
neurshi
p.
86
Entrepr
eneursh
ip has
been
recogni
zed as a
major
conduit
for
sustaina
ble
product
s and
process
es and
new
venture
s are
being
held up
as a
panacea
for
many
social
and
environ
mental
concern
s
Literat
ure
review
.
Analy
zing
Over
view
of
sustai
nable
devel
opme
nt
and
the
role
of
entre
prene
urshi
p and
summ
ary of
recent
contri
butio
ns
explo
ring
entre
prene
urshi
p
role.
While
sustainab
le
develop
ment
remains
ambiguo
usly
defined
and
controve
rsial, it
has
emerged
as an
influenti
al
concept
for
entrepren
eurship
policy,
practice,
and
theory.
However
, while
entrepren
eurship
has been
cited as a
significa
nt
conduit
for a
more
sustainab
le
society,
there
remains
consider
able
uncertain
ty
regardin
g the
nature of
this role
and how
it will
unfold.
24
(14)
2013
Davi
d
Sma
llbo
ne,
Frie
deri
ke
Welt
er
and
Jovo
Atelj
evic
Entre
prene
urshi
p in
emer
ging
mark
et
econo
mies:
Conte
mpor
ary
issues
and
persp
ective
s
Challen
ges
facing
by the
entrepre
neurs in
the
modern
econom
ics
87
For
entrepre
neurs
need to
study
other
context
s such
as
emergin
g
markets
Literat
ure
review
Analy
sis of
effect
of
mode
rn
econo
mics
for
the
entre
prene
urshi
p
devel
opme
nt in
the
emer
ging
mark
et. the
critic
al
impor
tance
of
conte
xtuali
zed
entre
prene
urshi
p
polici
es at
both
natio
nal
and
regio
nal
level
is
emph
asize
d
The
articles
highlight
the
challeng
es for
entrepren
eurship
and
small
business
that stop
from
institutio
nal
change
which
leaves
related
vacuums.
Clearly,
we need
to
encourag
e future
research
which
explores
how
entrepren
eurial
actors
navigate
through
and
around
such
voids
when
seeking
to
establish
and
develop
their
firms
25
(32
)
1993
Rob
ert
G.
King
and
Ross
Levi
ne
Finan
ce,
entre
prene
urshi
p, and
growt
h
Theor
y and
evide
nce
Effect
of
finance
on
entrepre
neurshi
p and in
the
growth
of
econom
y of the
country.
88
Improv
ement
in the
finance
sector
lead to
accelera
te the
econom
y
growth.
Literat
ure
review
empiri
cal
data.
For
the
effect
create
by
the
finan
ce in
the
econo
my
growt
h will
be
studie
d
throu
gh
literat
ure
revie
w and
to
analy
sis
the
benef
it of
finan
ce for
econo
my
growt
h as
well
as
entre
prene
urshi
p
devel
opme
nt we
will
use
empir
ical
data..
Financial
systems
affect the
entrepren
eurial
activities
that lead
to
producti
vity
improve
ments in
four
ways.
Choose
the most
promisin
g
projects,
mobilize
resources
, allow
investors
to
diversify
the risk
associate
d with
uncertain
innovativ
e
activities
and new
innovatio
ns to be
make.
26
2012
Jou
rnal
(49
)
Vall
y
Kou
bi,
Tho
mas
Bern
auer,
Ann
a
Kalb
henn
and
Gabr
iele
Spil
ker
Clima
te
varia
bility,
econo
mic
growt
h, and
civil
confli
ct
Does
Effect
of
climate
changea
bility
effects
on
econom
ic
growth
89
Nondemocr
atic
countrie
s are
more
likely to
experie
nce
civil
conflict
when
econom
ic
conditio
ns fail.
Empiri
cal
data
the
empir
ical
analy
sis
use a
globa
l
datas
et for
1980
–
2004
and
desig
n the
testin
g
strate
gy
tightl
y in
line
with
our
theor
y
Our
results
suggest
that
climate
changeab
ility,
measure
d as
deviation
s in
temperat
ure and
rainfall
from
their
past,
long-run
levels (a
30-year
moving
average),
does not
affect
violent
intrastate
conflict
through
economi
c growth.
This
finding is
importan
t because
the
causal
pathway
leading
from
climate
variabilit
y via
(deterior
ating)
economi
c growth
to
conflict
is a key
part of
most
theoretic
al
models
of the
climate–
conflict.
27
Pag
es
(14
7162
)
2012
Drag
o
Berg
holt
and
Päiv
i
Luja
la
CLI
MAT
EREL
ATE
D
NAT
URA
L
DISA
STER
S,
ECO
NOM
IC
GRO
WTH
,
AND
ARM
ED
CIVI
L
CON
FLIC
T
Concer
ns of
climateinduced
natural
disaster
s on
econom
ic
growth,
and
how
these
disaster
s are
linked
to the
start of
armed
civil
conflict
either
directly
or via
their
impact
on
econom
ic
growth.
Using
econom
etric
method
s to
study
the
consequ
ences of
climateinduced
natural
disaster
s on
econom
ic
growth
Literat
ure
review
28
Vol
(74
)
2012
Efrai
m
Ben
mele
ch,
Clau
de
Berr
ebi
and
Este
ban
F.
Klor
Econ
omic
Condi
tions
and
the
Quali
ty of
Suici
de
Terro
rism
The link
between
econom
ic
conditio
ns and
the
quality
of
suicide
terroris
m
Identify
the
fundam
ental
connect
ion
betwee
n
econom
ic
conditio
ns and
the
quality
of
terroris
m.
Focuse
d on
suicide
terroris
Literat
ure
review
and
empiri
cal
data
90
Analy
zing
tool
for
the
chang
e in
GDP
growt
h by
clima
tic
disast
ers.
panel
datas
et
cover
s the
perio
d
1980
–
2007
and
inclu
des
171
indep
enden
t
count
ries
and
4,455
count
ryyear
obser
vatio
ns,
Analy
zing
the
cause
of
beco
ming
terror
ist,
using
qualit
y data
to
find
type
of
terror
ist,
and
findin
g
The
results
show
that
climaterelated
natural
disasters
have a
negative
effect on
growth
and that
the
impact is
huge
Our
results
suggest
based on
historical
data that
more
frequent
and
severe
climaterelated
disasters
will not
lead to
more
armed
conflicts
through
their
effects
on GDP
growth.
We
uncovere
da
strong
correlati
on
between
economi
c
condition
s and the
character
istics of
suicide
terrorists
and
targets
they
attack. In
particula
r, we
m and
the
IsraeliPalestin
ian
conflict
for a
variety
of
reasons.
29
N.
A
2015
Syed
Jawa
d
Huss
ain
Shah
zad,
Muh
amm
ad
Zaka
ria,
Mob
een
Ur
Reh
man,
Tan
veer
Ahm
ed,
Bash
ir
Ahm
ed
Fida
Relati
onshi
p
Betw
een
FDI,
Terro
rism
and
Econ
omic
Grow
th in
Pakist
an:
Pre
and
Post
9/11
Analy
sis
examin
es cointegrati
on and
causal
relation
ship
between
FDI,
terroris
m and
econom
ic
growth
in
Pakista
n
91
Frequen
cies for
the
period
19882010
focusin
g on
terroris
m and
its
effect
on
econom
ic
growth.
concl
usion
how
it can
resolv
e by
analy
zing
the
data
of
Israel
Palest
inian
confli
ct.
Empiri
cal
Data
For
empir
ical
analy
sis
data
is
divid
ed
into
two
subperio
ds i.e.
pre
9/11
(1988
2001)
and
post
9/11
(2002
2010)
perio
ds.
demonstr
ated that
high
unemplo
yment
and poor
economi
c
condition
s allow
terror
organizat
ions to
Recruit
More
Educated
, mature,
and
experien
ced
suicide
terrorists
who, in
turn,
attack
more
importan
t targets.
Results
show
That
long run
co-integration
holds
between
FDI,
terrorism
and
economi
c growth.
Results
indicate
that there
is
bidirecti
onal
short and
long run
causality
between
economi
c growth
and FDI
for both
subsamples.
These
findings
are
supporte
d by
variance
breakdo
wn and
impulse
response
analysis.
The
findings
suggest
applicabi
lity of
moderniz
ation
theory to
explain
FDI and
economi
c growth
relations
hip. The
results
also
reveal
that
terrorism
has a
weakeni
ng
impact
on FDI.
30
N.
A
2010
Luca
Stan
ca
The
Geog
raphy
of
Econ
omics
and
Happi
ness:
Spati
al
Patter
ns in
the
Effect
s of
Econ
omic
Condi
tions
on
WellBeing
The
crosscountry
distribut
ion of
the
relation
ship
between
econom
ic
conditio
ns and
wellbeing.
92
A large
sample
of
individ
uals
from 94
countrie
s
worldw
ide that
the
effect
of
income
on wellbeing
and the
effect
of being
unempl
oyed.
Literat
ure
Revie
w,
Qualit
ative
and
Quanti
tative
data
Analy
zing
factor
s that
are
effect
ive in
quant
itativ
e and
qualit
ative
data
of 92
count
ries.
And
then
maki
ng
obser
ved
analy
sis.
the
results
indicate
that
geograph
y, culture
and
institutio
ns must
be
explicitly
taken
into
account
in order
to
understa
nd the
relations
hip
between
economi
c
condition
s and
wellbeing
31
(59
)
2017
Serfr
az
and
Aye
sha
What
is the
effect
of
foreig
n
direct
invest
ment
inflo
ws on
econo
mic
growt
h in
Pakist
an?
An
empir
ical
analy
sis in
the
light
of
religi
ous
sectar
ianis
m as
cataly
st for
terror
ism
Study
will
surely
add new
dimensi
ons to
the ever
increasi
ng
research
on
oversea
s
investm
ent in
develop
ing
countrie
s,
specific
ally
Muslim
countrie
s, by
correlati
ng
religiou
s
sectaria
nism
with
FDI and
econom
ic
growth.
93
study
explore
s an
empiric
al
relation
ship by
testing
a twoway
causalit
y
betwee
n FDI
inflows
and
econom
ic
growth
of
Pakista
n, using
the
techniq
ues of
Johanse
n Cointegrat
ion and
VECM
model
Literat
ure
Revie
w,
Empiri
cal
data
Analy
ses
the
effect
of
religi
ous
sectar
ianis
m on
the
relati
onshi
p
betwe
en
FDI
inflo
ws
and
econo
mic
growt
h in
Pakist
an for
the
perio
d of
19892016.
For
meas
uring
sectar
ian
terror
ism,
data
of
sectar
ian
viole
nce in
Pakist
an is
taken
for
carryi
ng
out
the
empir
ical
analy
sis.
A
detailed
analysis
reveals
that
major
portion
of FDI
inflows
in
Pakistan
are from
China in
the form
of
CPEC.
FDI
inflows
lead to
an
increase
in
economi
c growth
but this
relations
hip is
affected
by
sectarian
terrorism
in
Pakistan.
32
(125)
2015
Hele
ne
Ahl,
Cole
tte
Henr
y
and
Lene
Foss
Gend
er
and
entre
prene
urshi
p
resear
ch: A
revie
w of
meth
odolo
gical
appro
aches
The
SLR
sought
to
identify
method
ological
trends
in the
field of
gender
and
entrepre
neurshi
p and to
criticall
y
explore
the type
of
method
ological
innovati
ons
needed
in
future
scholars
hip
Finding
s reveal
a
prolifer
ation of
largescale
empiric
al
studies
focused
on
male/fe
male
compari
sons,
Literat
ure
Revie
w.
Quanti
tative
and
Qualit
ative
data
analysi
s.
33
N.
A
2011
Rosa
lie
L.
Tun
g,
Julia
n
Birk
insh
aw
Quali
tative
Resea
rch in
Intern
ationa
l
Busin
ess
to shape
the
future
directio
n for
qualitati
ve
research
in the
field of
internati
onal
busines
s
Qualitat
ive
analysis
contrib
ution
sin
researc
h
addressi
ng its
values,
method
s or
potentia
l of
qualitati
ve
researc
h in
internat
ional
busines
s
Literat
ure
review
94
The
findin
gs of
a
syste
matic
literat
ure
revie
w
(SLR
) of
the
gende
r and
entre
prene
urshi
p
literat
ure
publis
hed
in 18
journ
als
over
a 30year
perio
d.
Analy
zing
differ
ent
case
studie
s to
prove
that
qualit
ative
analy
sis
impor
tance
in
intern
ationa
l
busin
ess
Result
will be
radical
move
towards
more
innovativ
e, indepth
qualitativ
e
methodol
ogies
such as
life
histories,
case
studies
or
discourse
analysis
After
analyzin
g the
showcas
e found
that
qualitativ
e
research
has much
more
benefits
and
includes
different
ways of
collectin
g data in
qualitativ
e
research
for using
in
internati
onal
business.
34
43
2006
Sona
li K.
Shah
and
Kevi
n G.
Corl
ey
Build
ing
Better
Theor
y by
Bridg
ing
the
Quant
itativ
e–
Quali
tative
Divid
e
provide
s an
introduc
tion to
qualitati
ve
method
s and an
overvie
w of
tactics
for
ensurin
g rigor
in
qualitati
ve
research
useful
for the
novice
research
er
discussi
on on
the
qualitati
ve
analytic
al
techniq
ue of
grounde
d theory
buildin
g
Literat
ure
Revie
w
35
Vol
358
2001
Kirst
i
Malt
erud
Quali
tative
resear
ch:
stand
ards,c
hallen
ges,a
nd
guide
lines
propose
relevan
ce,
validity,
and
reflexiv
ity as
overall
standar
ds for
qualitati
ve
inquiry
specific
challen
ges in
relation
to
reflexiv
ity,
transfer
ability,
and
shared
assumpt
ions of
interpre
tation
Literat
ure
Revie
w
95
Analy
zing
differ
ent
theori
es
repres
ented
by
differ
ent
autho
rs and
comp
aring
them
betwe
en
qualit
ative
and
quant
itativ
e
data.
Analy
zing
the
differ
ence
of
qualit
ative
and
quant
itativ
e
from
differ
ent
aspec
ts
using
differ
ent
resear
ch
paper
s.
suggest
that
organizat
ional
research
has much
to gain
by
coupling
of use of
qualitativ
e and
quantitati
ve
research
methods
Responsi
ble
applicati
on of
qualitativ
e
research
methods
is a
promisin
g
approach
to
broader
understa
nding
36
37
Vol
Iss
ue
2
2016
Vol
Iss
ue
22
2004
José
G.
Varg
as
Hern
ánde
z,
Osm
ar E.
Aran
dia
Pére
z,
Artu
ro
Cord
ova
Ran
gel,
A
Revie
w of
Resea
rch
Meth
ods in
Strate
gic
Mana
geme
nt;
What
Have
Been
Done,
and
What
is
Still
Missi
ng
propose
s future
lines of
research
on the
topic
and the
method
s used
And
rew
K.
Shen
ton
Strate
gies
for
ensuri
ng
trust
worth
iness
in
qualit
ative
resear
ch
proje
cts
Trustwo
rthiness
of
qualitati
ve
research
96
reviewe
d the
method
ologies
used in
the
generati
on of
knowle
dge
regardi
ng the
strategi
c
manage
ment
Using
four
differen
t
criteria
types
that
makes
the
researc
h more
reliable
Literat
ure
Revie
w
Literat
ure
Revie
w
Analy
zing
differ
ent
type
of
meth
odolo
gies
used
in
resear
ch
and
findin
g
some
differ
ences
betwe
en the
meth
odolo
gies.
Analy
zing
the
qualit
ative
data
result
using
last
twent
y
year
in
differ
ent
paper
s to
make
concl
usion.
Research
methodol
ogy still
has
plenty of
perverse
problems
that limit
the
applicati
on of
research
findings
in
design,
measure
ment and
analysis.
Accordin
g to the
literature
review
focusing
on the
credibilit
y,
transfera
bility,
dependa
bility and
confirma
bility
may
make the
qualitativ
e
research
more
effective.
38
Vol
42
2013
Siri
Terj
esen
,
Jola
nda
Hess
els
and
Dan
Li
Comp
arativ
e
Intern
ationa
l
Entre
prene
urshi
p: A
Revie
w and
Resea
rch
Agen
da
CIE
research
can
guide
policy
and
practice
, with
the goal
of
improvi
ng the
quality
of life
of
individu
als,
perform
ance of
firms/in
dustries,
and
national
wealth
building
and
wellbeing.
System
atic
reviews
classifie
s in
four
levels
individ
ual,
firms,
industry
and
country.
Literat
ure
Revie
w with
qualita
tive
and
quantit
ative
analysi
s.
Analy
zing
259
articl
es
publis
hed
in 21
leadin
g
journ
als
from
1989
to
2010.
39
Vol
52
2011
Paul
Trac
ey
and
Nels
on
Phill
ips
Entre
prene
urshi
p in
Emer
ging
Mark
ets;
Strate
gies
for
New
Ventu
re
Creati
on in
Uncer
tain
Instit
ution
al
Importa
nce of
the
Instituti
onal
context
in
shaping
the
nature
of
entrepre
neurshi
p in
emergin
g
market.
Uncerta
inty in
emergin
g
Relatio
nship
betwee
n
instituti
ons and
entrepre
neurshi
p in
emergin
g
market.
Drawin
g on
neo
instituti
onal
theory.
Literat
ure
review
.
Argui
ng
high
degre
e of
instit
ution
al
uncer
tainty
act as
barrie
r for
entre
prene
urshi
p in
emer
ging
mark
et
97
There is
a
growing
body of
CIE
evidence
in a few
areas, for
example,
how
certain
countrylevel
entrepren
eurial
activity
impacts
firm
performa
nce in
terms of
financial
and
export
measures
and
countrylevel
economi
c growth
as well
as which
countrylevel
pasts
lead to
certain
types of
entrepren
eurial
activity.
Managin
g
institutio
nal
uncertain
ty,
spanning
Institutio
nal
voids,
and
bridging
institutio
nal
distance
can
exploit
using
these
three
steps for
40
N.
A
2015
Hele
ne
Ahl ,
Cole
tte
Henr
y
and
Lene
Foss
Conte
xts
market
as
barrier.
Gend
er
and
entre
prene
urshi
p
resear
ch: A
revie
w of
meth
odolo
gical
appro
aches
Identifi
es
method
ological
trends
in the
field of
gender
and
entrepre
neurshi
p and
determi
nes the
type of
method
ological
innovati
ons
needed
in
future
scholars
hip.
98
entrepren
eurship
in
emerging
market.
Using
the
System
atic
literatur
e
review
(SLR)
of
gender
and
entrepre
neurshi
p also
using
male
and
female
compari
son
techniq
ue.
Literat
ure
review
and
empiri
cal
study
qualita
tive
and
quantit
ative
data
analysi
s.
Analy
zing
role
of
gende
r in
entre
prene
urshi
p
devel
opme
nt.
Argu
e that
future
schol
ars
must
devel
op
the
meth
odolo
gical
repert
oire
to
engag
e
with
post
struct
ural
femin
ist
appro
aches
;
Using
Feminist
approach
es may
require a
radical
move
towards
more
innovativ
e, indepth
qualitativ
e
methodol
ogies
such as
life
histories,
case
studies
or
discourse
analysis.
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