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Purpose This study examines the strategic role of entrepreneurship in wealth creation across selected emerging economies, with a specific focus on whether its contribution is overemphasized or underemphasized. While prior studies often treat emerging economies as homogeneous, this study argues that differences in institutional environments lead to varying entrepreneurial outcomes. Design/methodology/approach A cross-sectional survey design was adopted, with data collected from 335 respondents across selected emerging economies. The sample comprised businesses that have operated for over five years. Data were analyzed using Structural Equation Modeling (SEM) to test the hypothesized relationships. Findings The results show that entrepreneurship has a significant relationship with wealth creation, job creation, poverty reduction, and community and regional development, while its relationship with the standard of living is not significant. The findings also indicate that inconsistent entrepreneurship policies and unclear business regulations constrain entrepreneurial effectiveness across the sampled economies. Research limitations/implications The cross-sectional design limits causal interpretation. However, the study highlights the need to account for institutional differences when evaluating entrepreneurial outcomes and provides a basis for further research on context-specific drivers of entrepreneurship in emerging economies. Practical implications The findings suggest that entrepreneurship policies should be context-specific rather than uniform. Policymakers and practitioners must align policy design with the institutional realities and developmental priorities of each economy to achieve desired outcomes. Originality/value This study contributes to the literature by critically assessing whether the role of entrepreneurship in wealth creation is overstated or understated in emerging economies, offering a comparative and context-sensitive perspective rather than assuming uniform effects.
Olaore et al. (Thu,) studied this question.