Convergence of Female Entrepreneurship in Selected Asian Countries

Abstract

The aggregate convergence analysis of female entrepreneurship in selected Asian countries resulted in divergence. The club convergence analysis, however, identified China, Indonesia, and India as outliers. The result is in line with what the Global Entrepreneurship Monitor (GEM) has found, which is that women are more likely to start their own businesses in developing countries. The remaining countries are categorized into three distinct clubs. The finding shows that the countries with different levels of income and different indices of gender gaps are clustered together. This suggests that female entrepreneurship is not necessarily affected by the level of income and gender gaps. Apart from that, the formation of the convergence clubs may suggest female entrepreneurship as one of the key drivers of globalization.