Entrepreneurship Capital and Economic Growth

Entrepreneur is an elusive figure in economic theory because the difficulty of providing a precise definition. It seems impossible to produce a single definition to entrepreneurship concept and most theoretical approaches given provided operational difficulties. Similarly most of the operational definitions are incomplete and cover only a portion of the concept. The purpose of this paper is to provide a theoretical and empirical overview of entrepreneurship concept and the relationship between entrepreneurship capital and economic growth. In this paper we will investigate the relationship between entrepreneurship and economic growth by introducing an important institutional factor as corruption for 16 MENA countries such as Algeria Bahraeïn Djibouti Egypt Jordan Kuwait Lebanon Libya Morocco Oman Qatar Saudi Arabia Syria Tunisia UAE and Yemen. Our empirical results reveal that entrepreneurship capital has an important role in stimulation of growth. Thus the reduction of corruption in this countries can increase the level of economic growth.