Entrepreneurship and Economic Performance: Evidences from Selected OIC Countries

The OIC countries encountered problems concerning reduction of poverty, filling gaps between income inequalities and achieving economic development. Thus, the main question to ask was: "What can be the solution?" Furthermore, entrepreneurship and economic growth had an increasing pattern. Hence, many scholars have highlighted the importance of economies' entrepreneurial activities and the impact of entrepreneurship and economic growth on poverty, income inequality and economic development. Meanwhile, studies that are quantitatively analyzing the interrelationship between entrepreneurship and their impact on economic performance are very limited. Therefore, the aim of this study is to fill the gap in entrepreneurship literature and to study the causal relationships between the entrepreneurship, income inequality, poverty, employment and economic growth in the panel of 22 OIC countries during 2012-2017. The results suggested that entrepreneurship plays a vital role on poverty, income inequality, employment and economic growth in the OIC countries.