Drivers of women's entrepreneurship across economies: a panel data analysis

Purpose This research aims to examine the potential elements influencing women's entrepreneurship in developed and developing nations. A confluence of variables will be used to derive an empirically viable conclusion. Design/methodology/approach The research used a panel data approach. It examines secondary data from 29 nations spanning from 2001 to 2024. The Driscoll-Kraay standard error technique was utilized along with lagged variables for causal impact. It also evaluates developed and developing nations separately to identify any distinctions. Findings The findings demonstrate that factors determining female self-employment include gender equality, access to finance, basic entrepreneurial education. Both developed and emerging economies have comparable outcomes, necessitating equal emphasis. Practical implications Government and international organizations must recognize the factors that contribute to limited participation, and the obstacles women encounter when entering the market to effectively promote women's entrepreneurship. Moreover, policies must focus on training, specific credit guarantees and implementation at the grassroots level, as well as access to financing for aspiring entrepreneurs. Originality/value This research offers an incremental and specific contribution in its inclusion of multiple components to assess individual impact on women's entrepreneurship in developed and developing nations.