The Effects of Entrepreneurship, Competitiveness, and Technology Innovation on Growth: A Case of ASEAN Economic Development
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Even though previous empirical findings have provided profound insights to how entrepreneurship, innovation, knowledge, competitiveness, and economic growth are interrelated. However, a comprehensive understanding is still lacking concerning the interface of all of those variables: competitiveness, innovation, entrepreneurship and growth. The national economic growth on the aggregate level of economic activity is viewed as a country on being associated with review and smaller firms, as well as established firms, and it allows clearer understanding of why entrepreneurship is vital to the whole economy. Small and news firms generate innovations, fill market niches and increase competition, thereby contributing to resource reallocation in economic activity. Within the framework of potential efforts and strategies to employment and job creation for young people, entrepreneurship is increasingly accepted as an important means and a valuable additional strategy to create job and improve livelihood and economic independence of young people. For developed countries, ICT is an important enabler in entrepreneurial activity, especially for SMEs. Entrepreneurship and small business management is frequently referred to as one of the most important aspects in a country’s economic development, in other words, it determines a country’s competitiveness. This research found that entrepreneurship, country’s competitiveness, and innovations indicators were the main drivers of economic growth. Economic freedom, in particular, seems to be acting as one of the principal accelerator toward economic development in ASEAN countries.