چکیده:
The purpose of this research is experimental asses Schumpeter's view that directing credit towards entrepreneurial activities is necessary for the formation and development of entrepreneurship. Credit guidance refers to allocate the ratio of bank credit to non-financial economic activities. For the entrepreneurial measuring, two common indicators are used: "The New Business Entry Density" (ED) of the World Bank (WB) and "Total Early-stage Entrepreneurial Activity" (TEA) of the Global Entrepreneurship Monitor (GEM). To analysis the effect of guiding the credit on entrepreneurship, the panel data model has been used. According to the first index of entrepreneurship, the estimated model covers 66 world economies during the period 2006 to 2016, and the second index has included 54 world economies were built during the period 2001 to 2016. The results are different. When Entrepreneurship based on "The New Business Entry Density" is analyzed, the result of estimation doesn't support literature, even it can have a negative effect. But when based on "Total Early-stage Entrepreneurial Activity" index is analysis, the impact of credit guidance is not rejected as expected by the significant effect of guiding on the entrepreneurship for middle-income economies. Also, the sensitivity of the results for the effective indicators of entrepreneurship shows that the more suitable proxies are needed to assess Schumpeter's theory.
خلاصه ماشینی:
The Effect of Credit Guidance on Entrepreneurship Shahin Behdarvand Master's student in Economics, Allameh Tabataba'i University (RA), Tehran, Iran Ali Nassiri Aghdam Assistant Professor, Department of Economics, Allameh Tabataba'i University (RA), Tehran, Iran Mohammad Ghasemi Assistant Professor, Department of Economics, Allameh Tabataba'i University (RA), Tehran, Iran Abstract The purpose of this research is to empirically test the Schumpeterian view that credit guidance toward entrepreneurial activities is a prerequisite for the formation and development of entrepreneurship.
On the other hand, despite the fact that the important role of entrepreneurship in growth and development has been accepted in economic literature, Iran's situation in the entrepreneurship index is inappropriate; so much so that among 137 countries, Iran ranks 72nd in the Global Entrepreneurship and Development Institute report3, and the most important problem for entrepreneurs has been stated as the difficulty of accessing capital and financial provision (Faham and Parhezkar, 1397; Javadi and Naeimi, 1395).
Estimation results for high-income countries (Refer to the page image) Source: Research findings The results reflected in Table (6) for high-income economies show that the allocation of credit to non-financial businesses with the World Bank's Entrepreneurship Entry Density (ED) index does not have a significant relationship, but the relationship between credit allocation to financial businesses and the entry density rate of new businesses is positive and significant.
Examination of control variables for both models (A) and (B) in high-income countries shows that the relationship between entrepreneurship indices and the economic growth rate, as a manifestation of new job opportunities, is completely positive and significant, similar to Chambers and Munemo1 (2017), Leon (2019), and Klapper et al.
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