Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan
Tleuberdinova A. Shayekina Z. Salauatova D. Pratt S.
March 2021Sage Publications India Pvt. Ltd
Journal of Entrepreneurship
2021#30Issue 1179 - 209 pp.
Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.
ARDL model , business start-up , Kazakhstan , macroeconomic environment , Tourism entrepreneurship
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The Institute of Economics of the Ministry of Education and Science of Kazakhstan, Kazakhstan
State University, Karaganda, Kazakhstan
Karaganda Economy University, Karaganda, Kazakhstan
School of Tourism Hospitality Management, The University of the South Pacific, Headquarters and Laucala Campus, Suva, Fiji
The Institute of Economics of the Ministry of Education and Science of Kazakhstan
State University
Karaganda Economy University
School of Tourism Hospitality Management
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