The three components of the GEM Conceptual Framework and the assumed relationships among
them are at the heart of the GEM contribution to a better understanding of entrepreneurial energy
in any economy.
ndividual attributes—which reflect
perceptions about opportunities,
capabilities to act entrepreneurially,
entrepreneurial intentions and fear of
failure
Social values— which reflect how the society
values entrepreneurial behavior
Entrepreneurship indicators—different forms of entrepreneurial activity along
the life cycle of a venture and motivation for venturing
2008, GEM Global reports have categorized 2008, GEM Global reports have categorized the
participating economies by phase of economic development, namely factor-driven, efficiency-driven
and innovation-driven economiesparticipating economies by phase of economic development,
namely factor-driven, efficiency-driven and innovation-driven economies
Table 2.1 shows 70 participating economies by global regions and phases of
economic development which are profiled for their respective individual
attributes, social values and entrepreneurship activities in the 2014 Global
Report