Macroeconomic Conditions and Entrepreneurial Intention Formation: A PRISMA Systematic Analysis
List of Authors
  • Ang Hong Loong, Noor Fzlinda Fabeil, Zhen Bowen

Keyword
  • Entrepreneurial intention, Economic factors, Entrepreneurship policy, Regional economic development, PRISMA systematic review

Abstract
  • This study elaborates a PRISMA guided systematic literature review that finds ultimately behind policy actors’ economics as an important determinant of entrepreneurial intention insofar as it relates to economic opportunity, market conditions, and policy environments for business orientation and development. The review also deals with the piece-meal evidence on the influence of macro, microeconomic and regional factors in the entrepreneurship motivations and behaviours of distinct economies. Empirical studies found in peer-reviewed journals through application of the PRISMA 2020 guidelines were identified, screened, and reviewed for the use of clear inclusion and exclusion criteria. It presents a summary of evidence of quantitative, qualitative and mixed method studies in developed and emergent countries. Among the statistically significant factors, it supports the relevance of fiscal policy, level of taxation, government aid and macroeconomic stability in all cases to affect entrepreneurial intention, although the sign and the magnitude of these variables are dependent on the economic development level of the macro area, as well as the institutional environment. Conditions of the regional economy in terms of infrastructure, human capital, and the quality of the ecosystem do moderate the outcomes of individual entrepreneurship, and situational analysis within the market structure moderate to some extent the recognition and feasibility perception. The review also assumes the mediating role of perceptions and the institutional environment for the process of transforming economic conditions into entrepreneurial intentions. It follows a PRISMA synthesis to bring methodological clarity to the field of entrepreneurship and of integrated review on the economic and regional influencers of entrepreneurial intention. Policy makers and researchers interested in designing efficient contextual strategies to foster entrepreneurship development could benefit from these findings

Reference
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