Economics

We are living in a complex and dynamic world in which innovation and entrepreneurship are occupying a decisive role for economic development. According to Joseph Alois Schumpeter "carrying out innovations is the only function which is fundamental in history". He also accented that It is entrepreneurship that "replaces today's Pareto optimum with tomorrow's different new thing". Schumpeter's words that entrepreneurship is innovation have never seemed so appropriate as the nowadays, when modern capitalism is experiencing a serious crisis and lost his strength during last subprime and euro-debt crises. The purpose of this paper is the analysis of the Schumpeter's innovation concept in a context of "first" and "second" Entrepreneurship theory.

Strategy is different from tactics. Tactics is a scheme for a specific manoeuvre whereas strategy is the overall plan for deploying resources to establish a favourable position. According to Thompson & Strickland -"A company's strategy consists of the combination of competitive moves and business approaches that managers employ to please customers and compete successfully and achieve organizational objectives." According to Pearce II & Robinson, Jr. -"Strategy reflects a Company's awareness of law, where and when it should compete; against whom it should compete and for what purpose it should compete."

The Routledge Handbook of Neoliberalism seeks to offer a comprehensive overview of the phenomenon of neoliberalism by examining the range of ways that it has been theorized, promoted, critiqued, and put into practice in a variety of geographical locations and institutional frameworks. Neoliberalism is easily one of the most powerful discourses to emerge within the social sciences in the last two decades, and the number of scholars who write about this dynamic and unfolding process of socio-spatial transformation is astonishing. Even more surprising though is that there has, until now, not been an attempt to provide a wide-ranging volume that engages with the multiple registers in which neoliberalism has evolved. The Handbook of Neoliberalism accordingly serves as an essential guide to this vast intellectual landscape. With proposed contributions from over 50 leading authors, the Handbook of Neoliberalism will offer a systematic overview of neoliberalism’s origins, political implications, social tensions, spaces, natures and environments, and aftermaths in addressing ongoing and emerging debates. Numerous books have been published on neoliberalism, including important edited volumes, but none of these contributions have attempted to bring the diverse scope and wide-ranging coverage that we plan to incorporate here. Most of the edited volumes and monographs on neoliberalism that have been published to date have a very specific thematic focus, either on particular empirical case studies, or alternatively attempt to wrestle with a specific theoretical concern. In contrast, the Routledge Handbook of Neoliberalism aims to provide the first comprehensive overview of the field.

With authors working at institutions around the world, the Handbook of Neoliberalism will offer a thorough examination of how neoliberalism is understood by social scientists working from diverse disciplinary backgrounds. Our goal is to advance the established and emergent debates in a field that has grown exponentially over the past two decades, coinciding with the meteoric rise of neoliberalism as a hegemonic ideology, state form, policy and program, and governmentality. In short, the Handbook of Neoliberalism will intervene by both outlining how theorizations of neoliberalism have evolved and by exploring new research agendas that we hope will inform policy making and activism. The Handbook of Neoliberalism will include a substantive introductory chapter and seven main thematic sections. By presenting a comprehensive examination of the field, this edited volume will serve as an invaluable resource for undergraduates, graduate students, and professional scholars alike. We envision the book as both a teaching guide and a reference for human geographers, anthropologists, sociologists, political scientists, heterodox economists, and others working on questions of neoliberalism and its multifarious effects.

Contemporary theorizations of neoliberalism are framed by a false dichotomy between, on the one hand, studies influenced by Foucault in emphasizing neoliberalism as a form of governmentality, and on the other hand, inquiries influenced by Marx in foregrounding neoliberalism as a hegemonic ideology. This article seeks to shine some light on this division in an effort to open up new debates and recast existing ones in such a way that might lead to more flexible understandings of neoliberalism as a discourse. A discourse approach moves theorizations forward by recognizing neoliberalism is neither a ‘top down’ nor ‘bottom up’ phenomena, but rather a circuitous process of socio-spatial transformation.

Ancien professeur des universités à l'IUT de Nantes 4 e édition Illustration de couverture : Digital Vision® © Dunod, Paris, 2010 pour la quatrième édition © Dunod, Paris, 2004 © Masson, 1993, 1997 pour les deux premières éditions ISBN 978-2-10-055497-3 V © Dunod -La photocopie non autorisée est un délit.

This article demonstrates historically and statistically that conversionary Protestants (CPs) heavily influenced the rise and spread of stable democracy around the world. It argues that CPs were a crucial catalyst initiating the development and spread of religious liberty, mass education, mass printing, newspapers, voluntary organizations, and colonial reforms, thereby creating the conditions that made stable democracy more likely. Statistically, the historic prevalence of Protestant missionaries explains about half the variation in democracy in Africa, Asia, Latin America and Oceania and removes the impact of most variables that dominate current statistical research about democracy. The association between Protestant missions and democracy is consistent in different continents and subsamples, and it is robust to more than 50 controls and to instrumental variable analyses.

The aim of writing this paper is to analyse the impact of the growth of e-commerce for businesses, consumers and society as well as the extent of regional development influence the development of e-commerce in Indonesia.. The methods used in the writing of this paper is literature study using literature from experts both from Indonesia and overseas country as well as in establishing the framework of thought is supported with interviews against the businessman of the e-commerce i.e. clothing online as well as consumers who bought goods online. In developing a framework also supported by the data from the survey institution which published in the credible mass media as well as data from institutions that are related to e-commerce. In brief, the concept of e-commerce is trade transactions using electronic devices that connected each other in a virtual space. E-commerce has significant positive impact both for businesses, consumers or society. E-commerce expansion in Indonesia was influenced by the quality of human resources, network infrastructure and the availability of electricity where these three factors are interrelated in influencing the expansion of the e-commerce. INTISARI Tujuan dari penulisan paper ini adalah untuk menganalisis dampak dari perkembangan e-commerce bagi pebisnis, konsumen dan masyarakat serta Mengidentifikasi sejauh mana tingkat perkembangan wilayah mempengaruhi perkembangan e-commerce di Indonesia. Metode yang digunakan dalam penulisan paper ini adalah studi literatur dengan menggunakan literatur dari para ahli baik dari dalam maupun luar negeri serta dalam membangun kerangka pemikiran didukung dengan wawancara terhadap pelaku e-commerce yaitu penjual pakaian online serta konsumen yang pernah membeli barang secara online. Dalam membangun kerangka pemikiran juga didukung data dari lembaga survei yang dimuat dalam media massa kredibel serta data dari instansi yang terkait dengan aktivitas e-commerce. Secara singkat, konsep dari e-commerce adalah perdagangan yang transaksinya menggunakan perantara perangkat elektronik yang terhubung satu sama lain dalam ruang virtual. E-commerce memiliki dampak positif yang signifikan baik bagi pebisnis, konsumen maupun masyarakat. Perkembangan e-commerce di Indonesia dipengaruhi oleh kualitas sumber daya manusia, infrastruktur jaringan internet, serta ketersediaan jaringan ketenagalistrikan di mana ketiga faktor tersebut saling berkaitan dalam mempengaruhi perkembangan e-commerce.

The Philippine government implemented the Pantawid Pamilyang Pilipino Program (4Ps) and patterned it after Latin American conditional cash transfer (CCT) programs, with the goals of poverty reduction and social development. With the insufficiency of research focusing on the 4Ps’ indirect effects, the program’s social impact remains unknown. Since the beneficiaries receive cash transfers from the government, they might be obliged to reciprocate their actions through civic engagement activities. In this study, civic engagement is defined as the overall activeness of citizens to work and positively impact their lives through participation in political and communal activities. Using propensity score matching, the researchers found that beneficiaries of the 4Ps tend to vote and participate in organizations more than the non-beneficiaries. However, this is accounted mostly to Luzon. Moreover, the study concluded that the 4Ps alone is not sufficient to improve civic engagement outcomes as they are also dependent on other factors which include, but are not limited to: geographical location, educational attainment and employment status, cultural diversity and uniqueness of organizations.

Violence is a confounding concept. It frequently defies explanation and lacks an agreed upon definition. Yet geographers are well positioned to bring greater conceptual clarity to violence by thinking through its intersections with space. In setting the tone for this special issue on Violence and Space we highlight some of the key lines of flight that have shaped geographical thinking on violence. While there are a significant number of geographers interested in the question of violence, the field of ‘geographies of violence’ remains an emerging area of research that deserves greater attention and a more rigorous examination. By emphasizing the spatiality of violence, this special issue aims to contribute to a more sustained conversation on the violent geographies that shape our daily lives, our encounters with institutions, and the various structures that configure our social organization. This introduction is but an initial sketch of what we believe needs to be a much larger and unfolding research agenda dedicated to understanding violence from a geographical perspective.

This paper presents recent research on access to finance by small and medium-size enterprises (SMEs). SMEs form a large part of private sector in many developed and developing countries. While cross-country research sheds doubt on a causal link between SMEs and economic development, there is substantial evidence that small firms face larger growth constraints and have less access to formal sources of external finance, potentially explaining the lack of SMEs' contribution to growth. Financial and institutional development helps alleviate SMEs' growth constraints and increase their access to external finance and thus levels the playing field between firms of different sizes. Specific financing tools such as leasing and factoring can be useful in facilitating greater access to finance even in the absence of well-developed institutions, as can systems of credit information sharing and a more competitive banking structure.

Vertical farming is the urban farming of fruits, vegetables, and grains, inside a building in a city or urban centre, in which floors are designed to accommodate certain crops. These heights will acts as the future farms land and as architects we can shape these high-rises to sow the seeds for the future. The objective of this dissertation was to investigate the feasibility and plausibility of the vertical farming concept in three specific and interrelated research domains. The first research question was to investigate whether enough energy can be generated onsite to meet the needs of the building. The second research question was to investigate the carbon footprint of produce grown vertically and compare that to produce grown conventionally (greenhouse and outdoors). The final research question was to investigate how relevant stakeholders perceive the concept of vertical farming and what they believe are current barriers and opportunities towards uptake of the technology. The purpose of this investigation was to determine ways to supply food to cities in an energy efficient and sustainable manner from both a quantitative and qualitative approach.

What is a vertical farm?
As the world‘s population grows, so does the land required to produce the needed food. The concept of a vertical farm was developed to remedy this crisis. A vertical farm is farms stacked on top of one another, instead of branching out horizontally. Developed in 1999 by Professor Dickson Despommier, the farm uses conventional farming methods such as hydroponics and aeroponics to produce more yields faster.

The study tells that the entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service sector. Entrepreneurs are like gamblers, and like any gambler, their chances of winning increase if they have the right cards. The role of entrepreneurship in economic development varies from economy to economy depending upon its material resources, industrial climate and the responsiveness of the political system to the entrepreneurial function .Path breaking offerings by entrepreneurs, in the form of new goods & services, result in new employment, which can produce a cascading effect or virtuous circle in the economy .If we understand the benefits and drawbacks, a balanced approach to nurturing entrepreneurship will definitely result in a positive impact on economy and society.

The purpose of this paper is to examine the various links among foreign direct investment, financial markets and growth. We model an economy with a continuum of agents indexed by their level of ability. Agents have two choices: they can work for the foreign company in the FDI sector and use their wealth to earn a return or they can choose to undertake entrepreneurial activities, which are subject to a fixed cost. Better financial markets allow agents in the economy to take advantage of knowledge spillovers from FDI.

This paper critically reviews the current status of the concept of distance in human geography in order to argue that recent experimentally-driven work in construal-level theory offers ample opportunities for recasting distance as a key geographical trope. After analysing the four entangled dimensions of distance revealed by construal-level theory (spatial distance; temporal distance; social distance; and hypothetical distance), the paper articulates this research program from experimental psychology with geographical work on non-representational theory, geographical imaginations/imaginative geographies, learning as a geographical process, TimeSpace theorizing, and ontogenetic understandings of space. It is argued that the subjective understanding of distance afforded by construal-level theory can rescue distance from its entrenched association with positivistic geography and spatial analysis. https://doi.org/10.1016/j.geoforum.2016.07.018

The task of studying the impact of social class on physical and mental health involves, among other things, the use of a conceptual toolbox that defines what social class is, establishes how to measure it, and sets criteria that help distinguish it from closely related concepts. One field that has recently witnessed a wealth of theoretical and conceptual research on social class is psychology, but geographers' and sociologists' attitude of diffidence toward this " positivistic " discipline has prevented them from taking advantage of this body of scholarship. This paper aims to highlight some of the most important developments in the psychological study of social class and social mobility that speak to the long-standing concerns of health geographers and sociologists with how social position, perceptions, social comparisons, and class-based identities impact health and well-being.
DOI: https://doi.org/10.1016/j.socscimed.2017.11.037

Pemasar itu tidak homogen. Perusahaan tidak dapat berhubungan dengan semua pelanggan di pasar yang besar, luas dan beraneka ragam. Konsumen pun memiliki banyak dimensi dan sering dapat dikelompokan sesuai dengan satu karakteristik atau lebih. Perusahaan perlu mengidantifikasi  segmen pasar mana yang dapat dilayaninya secara efektif. Keputusan-keputusan tersebut menurut pengertian yang tajam tentang prilaku pelanggan dan pemikiran strategis yang cermat. Perusahaan dapat lebih mudah memilih saluran distribusi dan saluran komunikasi yang terbaik, dan ia juga akan memiliki gambar yang jelas tentang para pesaingnya, yang merupakan perusahan-perusahaan yang mengejar segmen yang sama. Akan tetapi, walaupun segmen itu sebagiannya merupakan keinginan saja dalam arti tidak setiap barang dalam segmen itu mengiginkan barang-barang yang persis sama.

Ekonometrika dapat diartikan secara harfiah sebagai sebuah ukuran ekonomi. Secara definitif, ekonometrika, diartikan sebagai suatu ilmu yang mempelajari analisis kuantitatif dari fenomena ekonomi. Alternatif definisi lainnya merupakan matematikastatistika yang diaplikasikan untuk data ekonomi untuk memperoleh dukungan secara empiris terhadap model yang dibangun menurut teori matematika ekonomi dan untuk memperoleh dugaan secara numerik.

Pada prinsipnya, ekonometrika bersifat multdisiplin karena menggabungkan beberapa disiplin ilmu baik teori ekonomi, matematika, dan statistika. Maka, ekonometrika dapat dijadikan suatu pendekatan atau tools dalam melakukan identifikasi dan mengkuantitatifkan hubungan yang terdapat dalam suatu fenomena ekonomi khususnya sehingga menjadi bagian dari analisa empiris.

Poverty is rooted in the accumulation of wealth, a process that plays out through the dispossession of the many so as to secure excess for the few. While this insight is commonly assigned to Marx and particularly his understanding of primitive accumulation,  Proudhon had worked out the contradictory underpinning of capitalism several decades earlier when he declared “property is theft!” Indeed, the very possibility of poverty, and its expression as famine, is rooted in the institution of property itself. This paper argues that we need to turn to anarchism, to refuse the expropriation of our means to survive under the tenets of property, and to cast off the chains of slavery that we euphemize as wage labour. Only by returning to the principle of mutual aid can famine ever be averted, whereby reciprocity becomes the compass of our collective morality.

The paper aims to reveal one integrated global map which points out the major geographical inequalities in providing basic utilities across the countries using multivariate analysis and thematic cartography. Sixteen indicators with global coverage were selected taking into account the waste collection services, sanitation facilities, drinking water sources, energy, electricity, habitat and demographic conditions. Several data are broken down for the total, urban and rural population in order to outline the rural-urban disparities between and within countries. A special focus is given to waste collection coverage, in order to compute a comprehensive global assessment of this key indicator of public health, which is one of the poorest monitored basic utility. The world countries were divided into 10 classes according to the hierarchical cluster analysis. Each class has particular features outlining the gaps between high, middle and low-income countries with direct impact on quality of life, public health, and environment.

This paper begins from the understanding that women's empowerment is about the process by which those who have been denied the ability to make strategic life choices acquire such an ability. A wide gap separates this processual understanding of empowerment from the more instrumentalist forms of advocacy which have required the measurement and quanti®cation of empowerment. The ability to exercise choice incorporates three inter-related dimensions: resources (de®ned broadly to include not only access, but also future claims, to both material and human and social resources); agency (including processes of decision making, as well as less measurable manifestations of agency such as negotiation, deception and manipulation); and achievements (well-being outcomes). A number of studies of women's empowerment are analysed to make some important methodological points about the measurement of empowerment. The paper argues that these three dimensions of choice are indivisible in determining the meaning of an indicator and hence its validity as a measure of empowerment. The notion of choice is further quali®ed by referring to the conditions of choice, its content and consequences. These quali®cations represent an attempt to incorporate the structural parameters of individual choice in the analysis of women's empowerment.

Responding to David Harvey’s critique of my paper ‘Why a radical geography must be anarchist’, I once again reiterate the importance of anarchist perspectives in contemporary politics and geographical praxis. In challenging Harvey on the limits to Marx, I urge him to think again about the hidden vanguardism, implied statism, and veiled hierarchy that continue to lurk within the Marxist project, and importantly how these specters constrain both our collective political imagination and the possibilities of radical geography. I am admittedly very critical of Harvey, but I nonetheless refuse to close the door on dialogue between the Black and Red, even in the face of ongoing Marxist ridicule of anarchist politics. Accordingly, I propose an agonistic embrace of a ‘postfraternal’ or ‘postsororal’ politics on the left, where we come to appreciate ongoing conflict as a sign of a healthy leftist milieu. In doing so we can move beyond the misguided idea that all disagreements over strategies, tactics, and organizing methods will ever be resolved. Ultimately, what I have dubbed ‘the condition of postfraternity’ keeps us alert to the continually unfolding possibilities of a thoroughly politicized and forever protean space. By embracing this shifting horizon, not as a static limit to our politics, but as a beautiful enabler of visionary possibilities, the rhizomes of emancipation grow stronger.

Impacts of Climate Change on Agriculture Sector in Turkey
The gradual warming of the atmosphere,
depending on the result of climate change, is
creating significant impacts on agriculture to
increase the number and frequency of extreme
weather events. This affects food security, arises in
development and international trade. In the fight
against climate change and its impact on
agriculture, implemented jointly by the
international climate mitigation and adaptation
policy circles are carried out. In this study it is aimed
to investigate the impact of climate change on
agriculture sector in Turkey for the period 1980-
2013. In order to investigate the possible effects of
climate changes on agriculture sector the
relationship between agricultural productivity, CO2
emissions, temperature, rainfall and agricultural
GDP was estimated by using the ARDL
methodology. The empirical results show that
existence of a positive and significant relationship
between agricultural productivity, rainfall and
agricultural GDP. However, the impact of CO2
emissions on agricultural GDP is estimated to be
negative and statistically significant. In addition,
temperature changes negative impacts on
agriculture sector findings which were obtained.
The findings in this paper support that the climate
change negatively affect agriculture sector.

You can buy it for 15 dollars at AbeBooks (they ship worldwide):  https://www.abebooks.com/servlet/BookDetailsPL?bi=30337321496&searchurl=kn%3Dpluriverse%2Bdictionary%26sortby%3D17&cm_sp=snippet-_-srp1-_-title1
FOR BUYING THE BOOK at a discounted rate, please get directly in touch with our publisher AUF at info@authorsupfront.com.

"Pluriverse: A Post-Development Dictionary" is a stimulating collection of over 100 essays on transformative alternatives to the currently dominant processes of globalized development, including its structural roots in modernity, capitalism, state domination, and masculinist values. In the post-development imagination, 'development' would no longer be the organizing principle of social life. The book presents worldviews and practices from around the world in a collective search for an ecologically wise and socially just world. It also offers critical essays on a number of false solutions that those in power are proposing in an attempt to 'greenwash' development. The 120+ contributors to the volume include activists, academics, and practitioners, with a wealth of experience in their respective fields of engagement.

The book focuses on the conceptualisation and practice of radical alternatives to ‘development’. It also challenges mainstream or superficial solutions to global crises, including ‘green economy’ and ‘sustainable development’. What has been missing is a broad transcultural compilation of concrete concepts, worldviews and practices from around the world, challenging the modernist ontology of universalism in favour of a multiplicity of possible worlds. This is what it means to call for a pluriverse.

The book follows the structure of an encyclopedia, with short 1000-word entries for each of the key terms. The entries are written by invited authors. In the list of authors you might recognize Vandana Shiva, Serge Latouche, Wolfgang Sachs, Silvia Federici, Nnimmo Bassey, Gustavo Esteva, Katherine Gibson, Maristella Svampa and many more.

FOR BUYING THE BOOK at a discounted rate, please get directly in touch with our publisher AUF at info@authorsupfront.com: https://www.authorsupfront.com/pluriverse.htm

Publisher: Authors Up Front (self-publishing platform for the creative community; Delhi, India). See: http://authorsupfront.com/

License: Creative Commons

EDITORS

Ashish Kothari is with Kalpavriksh and Vikalp Sangam in India, and co-editor of Alternative Futures: India Unshackled.

Ariel Salleh is an Australian scholar-activist, author of Ecofeminism as Politics and editor of Eco-Sufficiency and Global Justice.

Arturo Escobar teaches at University of North Carolina, and is author of Encountering Development.

Federico Demaria is with Autonomous University of Barcelona, and co-editor of Degrowth: A Vocubalary for a New Era.

Alberto Acosta is an Ecuadorian economist and activist, and former President of the Constituent Assembly of Ecuador.

With the growth of new communication technologies, the power of social media has gained more importance. The social media is crucial in defining what we think about, how we look at things and our social place and to discuss about the various issues in the society. Social media has been considerably influencing the various aspects of society like cultural, spiritual, social, economic, political and religious as well as influencing a personal level of thinking, feeling and reacting to particular issues. Social Media in a way disseminates information and had created the need for marketers to be present online to market their products. Social media plays both positive and negative role in marketing. In this article an extensive review of literature has been carried on to analyse and to get a good understanding on the impact of social media and its role in marketing. Literature review has been done from various books, journals, published papers etc. These studies have been reviewed and presented in the following manner. Literature review has been collected from both within India and outside India.

Una obra extraordinaria que demuestra cómo llevar a la práctica las grandes ideas.11 Jack Welch El arte de lâ^• ¡^^ ^^Bij^^ ^^BB^^ ^^fc^^n egocios El presidente de Honeyweil International comparte su experiencia Larry Bossidy Ram Charan PRIMERA PARTE ¿POR QUÉ ES NECESARIA LA EJECUCIÓN? Capítulo 1 La diferencia que nadie conoce El director ejecutivo estaba sentado en su oficina, tarde en la noche, y tenía aspecto de estar agotado. Trataba de explicar a un visitante por qué había fallado su gran iniciativa estratégica, pero no podía entender qué cosa había salido mal. "Me siento tan frustrado", dijo. "Reuní al grupo hace un año; personas procedentes de todas las divisiones. Tuvimos dos reuniones extramuros, establecimos puntos de referencia, obtuvimos los estudios econométricos. McKinsey nos ayudó. Todos estuvieron de acuerdo con el plan. Era un buen plan y el mercado estaba bien." "Éste es el equipo de trabajo más brillante de la industria, sin lugar a dudas. Asigné metas modestas. Les delegué facultades; les di libertad para que hicieran lo que necesitaran hacer. Todos sabían lo que tenían que hacer. Nuestro sistema de incentivos es claro, de manera que conocían qué recompensas y castigos tendrían. Trabajamos juntos con mucha energía. ¿Cómo pudimos fracasar?" "Sin embargo, el año ha llegado a su final y no logramos las nietas. Me han decepcionado; no lograron los resultados previstos. He disminuido las estimaciones de utilidades cuatro veces en los últimos nueve meses. Hemos perdido nuestra credibilidad en Wall [25] LARRY BOSSIDY y RAM CHARAN

This paper took a study of Nigeria's growing unemployment situation and how it increasingly dwindles the potentials of the country, especially following official figures from the Bureau of statistics that puts the figure at about 20% (about 30million), which still did not include about 40million other Nigerian youths captured in World Bank statistics in 2009. By implication, it means that out of the 150 million Nigerians, 50% are unemployed, or worse still, at least 71% of Nigerian youths are unemployed. These days, employment creation is no longer the prerogative of government but, a joint effort between the public and private sectors. It is in this regard that this paper seeks a permanent solution to this endemic and pandemic phenomenon in Entrepreneurship development. In doing so, the paper is divided into eight segments, covering the background of the study, literature review and theoretical discourse on entrepreneurship development in Nigeria and its potency in employment generation as well as its problems and prospects. At the end of the study, having utilized the secondary source of data generation to source data for the paper, relying extensively on current articles from ardent scholars on entrepreneurship development and government statistical documentations, the paper made several findings and recommendations among which is that government should make entrepreneurship sellable to the people by inculcating it into the educational curriculum at every strata of the educational sector and also utilize a re-modeled NYSC scheme to educate the youths more on the importance, essence and need for entrepreneurship development especially on a practical basis and then find a means of supporting these entrepreneurship projects cutting across all spheres of the country; and also create enabling environment for entrepreneurship to thrive by ensuring social security and adequate infrastructural facilities.

This paper examines whether institutional changes have affected the interaction between the real economy and monetary policy in China. We find evidence that structural changes in the financial and real sectors over the period of our study did influence the way in which monetary policy affected the real economy. There were an increasing influence of interest rates on output over 1984 to 1997 and non-state owned enterprises were increasingly reacting to monetary policy changes, suggesting that banking sector reforms were having effects, despite the fact that most credit was allocated to the loss-making State sector.