AMBER – ABBS Management Business and Entrepreneurship Review

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Entrepreneurship is the key to India's development. It is important as it utilizes local resources, generating employment and promotes rural development. This paper examines the impact of financial development, economic development and foreign investment on entrepreneurial development measured by production asper Ministry of Micro, Small and Medium Enterprises (MSME) and fixed investment as per MSME for the period of 1997-1998 to 2016-2017. Using Error correction model, the result shows that investment as per MSME is positively influenced by financial development in long run. In short run foreign investment and economic development positively influence fixed investments in MSMEs. Production per MSME was found to be positively influenced by economic development and financial development in long run while in short run none of the selected independent variables influence production of MSMEs.

Keywords

Entrepreneurship, Foreign Investment, Economic Growth, Financial Development.
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