Entrepreneurship in Emerging Regions Around the World
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Entrepreneurship in Emerging Regions Around the World

Theory, Evidence and Implications

Edited by Phillip H. Phan, Sankaran Venkataraman and S. Ramakrishna Velamuri

The contributors to this book look at the phenomenon of entrepreneurship in emerging regions in India, China, Ireland, Eastern Europe, North and South America, and North and South-East Asia. The organization is designed to take the reader from a general framework for understanding the relationship between economic development and entrepreneurship to more specific examples of how entrepreneurs and their firms respond to the opportunity and threats that are dynamically evolving in such places. The book represents the first serious attempt to suggest new theoretical frameworks for understanding the emergence of entrepreneurship in regions that do not have all of the classical prerequisites (such as financial and human capital, favorable geography, institutional infrastructures, and so on) predicted in extant development models.
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Chapter 6: A Comparative Analysis of the Development of Venture Capital in the Irish Software Cluster

Frank Barry and Beata Topa


1 Frank Barry and Beata Topa INTRODUCTION The dramatic economic progress achieved by Ireland over the course of the 1990s and beyond had seen this period come to be dubbed the ‘Celtic Tiger’ era. Over the course of a little over a decade, Irish real national income per head rose from less than 65 per cent of the Western European EU average to achieve rough parity by the end of the 1990s. Unemployment tumbled from a high of 17 per cent in 1987 to less than 4 per cent in the early years of the new millennium, and employment expanded by a dramatic 70 per cent, driven by the decline in unemployment, an increase in the proportion of married women in the labour force and a shift from massive emigration to substantial immigration. The series of beneficial shocks – policy induced and otherwise – to which the economy was subjected in the late 1980s have been much explored. These included a change in fiscal strategy in 1987. The reining in of government expenditures at that time made room for future tax reductions. Successive governments used the newly emerged ‘social partnership approach’ – which sees government, unions and employers come together every three years to agree a general path for wages and working conditions over the course of the coming years – to purchase wage moderation via the promise of future tax cuts. Such tax cuts have been estimated to account for about one-third of the rise in real take home pay since the...

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