Date Added: Sep 2009
It is often claimed that entrepreneurship is indispensable for economic growth and development. These claims are mostly generated by scholars working in the field of entrepreneurship and management studies. In contrast, development economics scholars seem to be less concerned about entrepreneurship in the development process who is right? The author shows that the arguments and evidence marshaled so far fails to convincingly show that entrepreneurship is a binding constraint on development in the poorest countries. In development economics institutional weakness, not entrepreneurship, is considered by many to be a more binding constraint on development, especially over the long run.