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![]() ![]() Contrary to popular belief, it turns out that India has too few entrepreneurs for its stage of development.ĭemographic trends for India, the second most populous country in the world, suggest that a million new workers will join the labour force every month for the next two decades (Bloom et al 2011, World Bank 2011a). Figure 1 compares the new business registration density of South Asian countries with the rest of the world (see also Ghani et al 2011a). In a recent book Reshaping Tomorrow – Is South Asia ready for the Big Leap?, we examine entrepreneurship, regional development, and job creation in South Asia (see Ghani ed. How does one quantify entrepreneurship? Do young/small establishments or large/established firms contribute to job growth? Have manufacturing or service sectors created more jobs? What is the geographical scale at which entrepreneurial mechanics function? Why do some cities attract more entrepreneurs? Do agglomeration economies and networking differ across formal and informal sectors and industries, cities, and gender? What makes some local governments fiscally more entrepreneurial than others? These questions provide insights into job creation and they have rightly attracted the attention of researchers, but many of them remain unanswered. Our understanding of entrepreneurship is still at an early stage (Glaeser et al 2009, Klapper and Love 2011). While the great economic minds throughout history recognised the link between entrepreneurship, regional development, and job creation, controversies remain. ![]() The role of entrepreneurs in job creation has a long intellectual tradition (Cantillion 1730, Knight 1921, Schumpeter 1942). ![]()
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