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Institutional complementarities and entrepreneurial finance in emerging markets: Evidence from the Middle East and North Africa

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  • Florence Eid

Abstract

The challenge today for the economies of the Middle East North Africa (MENA) region is to leverage the opportunity from increased liquidity, invest in new job creation and nurture key sectors for diversified, sustainable growth. This article shows how financing entrepreneurship is a promising path in this direction, and highlights the opportunities and challenges. This paper does not seek to propose a comprehensive job creation strategy, but to outline steps necessary to reinforce the potential role that entrepreneurial finance can play in job creation, show evidence of success along these lines, and point to policy steps that can be taken in this direction. This work draws on recent developments in organization economics to develop the notion of institutional complementarities and illustrate its importance.

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  • Florence Eid, 2005. "Institutional complementarities and entrepreneurial finance in emerging markets: Evidence from the Middle East and North Africa," Venture Capital, Taylor & Francis Journals, vol. 7(4), pages 319-341, August.
    • Handle: RePEc:taf:veecee:v:7:y:2005:i:4:p:319-341
    DOI: 10.1080/13691060500348843
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    1. Thomas Hellmann & Manju Puri, 2002. "Venture Capital and the Professionalization of Start‐Up Firms: Empirical Evidence," Journal of Finance, American Finance Association, vol. 57(1), pages 169-197, February.
    2. Wyznikiewicz, B. & Pinto, B. & Grabowski, M., 1993. "Coping with Capitalism; The new Polish Entrepreneurs," Papers 18, World Bank - International Finance Corporation.
    3. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
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    1. repec:ilo:ilowps:388502 is not listed on IDEAS
    2. Sander Wennekers & Jolanda Hessels & Chantal Hartog, 2009. "Global Entrepreneurship Monitor 2008 The Netherlands," Scales Research Reports A200914, EIM Business and Policy Research.

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