Entrepreneurial Finance in Emerging Markets: Conclusions

Abstract

Emerging markets, which have already gone through their initial “teething” problems, are currently being transformed. Strong economic growth, a favorable business outlook, improvements in geopolitical stability, enhancements to democratic functioning, and improvements to legal and regulatory framework have provided strong foundations for an active and developing entrepreneurial finance sector in emerging market countries. In this closing chapter, our focus is on three main themes. Firstly, we describe the four pillars, which are the basis for the development of the entrepreneurial ecosystem and highlight the positive impact entrepreneurial finance has had upon shaping this ecosystem in emerging markets. Secondly, we illuminate the stimulating role of public intervention in progressing various forms of entrepreneurial finance. And finally, we discuss the maturation process of private equity in emerging markets.