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How the Pandemic Crisis May Affect Economic Systems: A Study on the Nexus Between COVID-19 and Entrepreneurial Activities

In: Biopolitics and Shock Economy of COVID-19

Author

Listed:
  • Shahla Jahangard

    (Department of Statistical Science, George Mason University)

  • Ebrahim Bonyadi

    (School of Mathematics, Statistics, and Computer Science, University of Tehran)

  • Lida Sarreshtehdari

    (Faculty of Entrepreneurship, University of Tehran)

  • Nezameddin Faghih

    (UNESCO)

Abstract

The world has experienced several great crises that have had a significant economic impact. The global crisis of the COVID-19 pandemic has affected economies and production chains, harming millions of businesses and entrepreneurs. Economic resilience, an ability to adapt to change and responsiveness to exogenous shocks, is a scientific strategy in the business and economy sectors to analyze and deal with these crises. Undoubtedly, entrepreneurship is one of the important factors influencing the economy as a striking pillar of economic resilience. This study tries to identify factors for enhancing economic resilience that will help countries to be more viable when encountering exogenous or indigenous crises. In this study, the impact of some entrepreneurship indicators, which have been created by applying the Global Entrepreneurship Monitor (GEM) dataset, on the economic resilience index has been examined. Then, based on regression analysis, it was shown that some entrepreneurial indicators, such as the rate of total early-stage entrepreneurial activities (TEA), the rate of established business ownership (EB), the rate of entrepreneurship intention, and the rate of entrepreneurial innovation, can be useful in estimating and scrutinizing the global resilience index. Following this indirect method, the optimal range of some entrepreneurial indicators for achieving the maximum amount of economic resilience was determined.

Suggested Citation

  • Shahla Jahangard & Ebrahim Bonyadi & Lida Sarreshtehdari & Nezameddin Faghih, 2023. "How the Pandemic Crisis May Affect Economic Systems: A Study on the Nexus Between COVID-19 and Entrepreneurial Activities," Contributions to Economics, in: Nezameddin Faghih & Amir Forouharfar (ed.), Biopolitics and Shock Economy of COVID-19, pages 239-256, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-27886-0_9
    DOI: 10.1007/978-3-031-27886-0_9
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