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 9: The Entrepreneurial Role of Border Traders in Laos and Thailand

Edward Rubesch


Edward Rubesch INTRODUCTION Prahalad (2005) suggests there is a ‘fortune at the bottom of the pyramid’ for firms who can reach the market comprised of the 4 billion people living in developing countries on less than US$ 2 per day. Indeed, many multinational firms face stagnant sales in mature markets, and supplying products to emerging markets in developing countries represents the largest potential for future sales growth (Czinkota and Ronkainen, 1997). However, while firms recognize the potential of emerging markets in developing countries, these markets also present many challenges. Distribution infrastructure is often limited (Arnold and Quelch, 1998). At the same time, using intermediaries can be risky as firms are uncertain about how well their distributors will honor agreements, or it may be difficult to monitor channel partners to ensure they are not also participating in gray marketing or counterfeiting of the firm’s branded products (Li, 2003). Emerging markets often have underdeveloped legal systems, with inconsistent law enforcement. Government officials may participate in illegal activities to such an extent that those activities become accepted as ‘normal’, and engaging in such activities may, in fact, be a requirement in order to do business (Reid et al., 2001). According to Prahalad (2005), ‘entrepreneurship on a massive scale is the key’ (p. 2) to overcoming barriers to doing business and unlocking the potential of emerging markets in developing countries. This research investigates the activities of one type of entrepreneur who operates in an emerging market: traders on the Thailand-Laos border who...

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