Great talk (3-2009) by noted Harvard Professor Tarun Khanna - 55 minutes long including Q&A. Talk starts off with discussion of Slum Dog Millionaire, and touches on political freedom/elections and micro finance. Local money lenders may require over 1000% (on an annual basis) for loans, whereas NGOs (non-government organizations) or for-profit micro finance companies can offer 20%.
The Economist (see article link below) discusses the role of entrepreneurship in creating jobs - and offers it as a solution to the unemployment problems that sparked revolution in the Middle East. They relay the findings of the Kauffman Foundation, that "between 1980 and 2005 nearly all net job creation in America took place in firms that were less than five years old".
Economist (2-26-2011) Uncorking enterprise
Unfortunately, entrepreneurial activity in developing nations is hard to measure. Some is very productive, but some is just a desperate attempt to earn anything in the absence of other alternatives. A new index tries to measure entrepreneurship better.
Global Entrepreneurship and Development Index