The Place and Role of Local Entrepreneurial Structures in the Process of Acceleration of Growth of the Modern Global Economy

Purpose: The purpose of the article is to determine the place and role of local entrepreneurial structures in the process of acceleration of growth of the modern global economy and to substantiate the preferential directions (stimulation or restraint) of state and supra-national regulation of further development of local entrepreneurship. Methodology: The authors use the method of regression analysis for determining the influence of gross added value that is created by local entrepreneurial structures on the annual growth rate of the global GDP. For obtaining the most precise and detailed results, the research is conducted for two time periods: Before the global financial crisis (2000–2008) and after it (2010–2018), which allows achieving representativeness of both selections (number of observations for time rows is nine). The information and empirical base of the research is statistical data of the World Bank. Results: It is determined that local entrepreneurial structures do not directly stimulate the acceleration of growth of the modern global economy. This influence is predetermined by the growth of local economy, which is a structural item of the global economic system. Though in quantitative expression the growth rate of the modern global economy is not influenced by local entrepreneurial structures, their development stimulates the increase of quality of this growth, ensuring its stability and balance. Recommendations: It is shown that growth of the number and strengthening of positions of local entrepreneurial structures in local sectorial markets after the global financial crisis (2010–2018) reduce their susceptibility to future crises and increases economic security due to development of import substitution. That’s why the measures of state regulators should be oriented at stimulation of development of local entrepreneurial structures for accelerating the growth rate of the national economy. However, for acceleration of growth of the modern global economy it is recommended to conduct simultaneous stimulation of development of international entrepreneurship. © Springer Nature Switzerland AG 2020.

Alekseev A.N.1 , Bogoviz A.V.2 , Ragulina J.V. 3 , Lobova S.V.4 , Boboshko V.I.5
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  • 1 Plekhanov Russian Economic University, Moscow, Russian Federation
  • 2 National Research University “Higher School of Economics”, Moscow, Russian Federation
  • 3 Peoples’ Friendship University of Russia (RUDN University), Moscow, Russian Federation
  • 4 Federal State Budgetary Institution of the Higher Education “Altai State University”, Barnaul, Russian Federation
  • 5 Federal State Public Educational Institution of Higher Professional Education “V.Y. Kikot’ Moscow University of the Ministry of Internal Affairs”, Moscow, Russian Federation
Acceleration of economic growth; International entrepreneurial structures; Local entrepreneurial structures; Modern global economy
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