Assessing the Impact of Institutional Entrepreneurship, Social Innovation, and Social Enterprise on Poverty Alleviation: Insights From South Asian Economies

Poverty remains a significant issue in South Asian economies despite various policy interventions. Institutional entrepreneurship, social innovation, and social enterprises have emerged as key strategies to foster inclusive economic growth and sustainable development. These approaches seek to empower disadvantaged communities by improving access to financial, material, and human resources. This study examines the impact of institutional entrepreneurship, social innovation, and social enterprises on poverty alleviation in South Asia from 2000 to 2022. The goal is to assist impoverished households in escaping poverty through targeted support and increased access to essential resources. However, the gap between the actions of authorities and the perspectives of ordinary people has hindered the effectiveness of poverty reduction efforts. The study employed the novel technique of Dynamic Simulated Autoregressive Distributed Lag (DS-ARDL) model. The findings revealed that, after 1000 replacements in the original data, institutional entrepreneurship, social innovation, and social enterprise reduced poverty by 0.261%, 0.007%, and 0.012%, respectively. The adoption of institutional entrepreneurship, social innovation, and social enterprise aids poverty reduction and also contributes to the creation of a more sustainable and equitable socio-economic environment in the countries. Thus, it emphasizes the need to cultivate an ecosystem that promotes institutional entrepreneurship, social innovation, and social enterprise.