S. Aparicio
The role of innovative entrepreneurship within Colombian business cycle scenarios: A system dynamics approach
Aparicio, S.; Urbano, D.; Gómez, D.
Authors
D. Urbano
D. Gómez
Abstract
Since the advent of public and private initiatives in Colombia, there has been interest in exploring the possible future pathways of the Colombian business cycle. Based on a foresight analysis, it has been identified on the one hand that it is necessary to achieve greater productivity and competitiveness and on the other hand, collective intentionality towards progress must be encouraged. Using these analyses, new Colombian scenarios are discussed, taking into account intentionality towards entrepreneurship and innovation. Following the entrepreneurship research, it is suggested that innovative entrepreneurial activity is linked to long-term economic growth. Thus, the purpose of this paper is to identify the role of innovative entrepreneurship in Colombian business cycle scenarios using system dynamics (SD) modelling. Here, we approach futures studies, testing dynamic hypotheses concerning development based on societal and socioeconomic integration, in which innovative entrepreneurship is highly relevant. The model, supported by circular flow analysis and Schumpeterian theory, shows how this type of entrepreneurship contributes to sustainable economic growth during the simulation period (2003–2032). To achieve a 6.77% average growth rate (the higher scenario), policies regarding knowledge transfer from specialized foreign individuals, incumbent firms and universities, as well as incentives for entrepreneurial societies and collectivism, are discussed.
Citation
Aparicio, S., Urbano, D., & Gómez, D. (2016). The role of innovative entrepreneurship within Colombian business cycle scenarios: A system dynamics approach. Futures, 81, 130-147. https://doi.org/10.1016/j.futures.2016.02.004
Journal Article Type | Article |
---|---|
Acceptance Date | Feb 16, 2016 |
Online Publication Date | Mar 2, 2016 |
Publication Date | Aug 1, 2016 |
Deposit Date | Dec 7, 2017 |
Publicly Available Date | Mar 2, 2018 |
Journal | Futures |
Print ISSN | 0016-3287 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 81 |
Pages | 130-147 |
DOI | https://doi.org/10.1016/j.futures.2016.02.004 |
Public URL | https://durham-repository.worktribe.com/output/1369973 |
Files
Accepted Journal Article
(908 Kb)
PDF
Publisher Licence URL
http://creativecommons.org/licenses/by-nc-nd/4.0/
Copyright Statement
© 2016 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
You might also like
Does Entrepreneurship Matter for Inclusive Growth? The Role of Social Progress Orientation
(2020)
Journal Article
Downloadable Citations
About Durham Research Online (DRO)
Administrator e-mail: dro.admin@durham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2025
Advanced Search