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Adm. Sci. 2019, 9(2), 35; https://doi.org/10.3390/admsci9020035

The Quality of Entrepreneurial Activity and Economic Competitiveness in European Union Countries: A Panel Data Approach

1
Institute of Interdisciplinary Research, Social Sciences and Humanities Research Department, Alexandru Ioan Cuza university of Iași, Lascăr Catargi Street no. 54, 700107 Iași, Romania
2
Department of Finance, Money and Public Administration, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iași, Carol I Boulevard, No. 22, 700505 Iași, Romania
*
Author to whom correspondence should be addressed.
Received: 3 February 2019 / Revised: 3 April 2019 / Accepted: 10 April 2019 / Published: 16 April 2019
(This article belongs to the Section Entrepreneurship)
PDF [550 KB, uploaded 16 April 2019]
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Abstract

To increase competitiveness, a country has to outperform its competitors in terms of research and innovation, entrepreneurship, competition, and education. In this paper, we aim to test the relationship between the quality of entrepreneurial activity and the economic competitiveness for the European Union countries by using panel data estimation techniques. Our research considers a sample of 28 EU countries over the period 2011–2017. For the empirical investigation we apply panel data regression models. The results obtained show that business, macroeconomic environment and the quality of entrepreneurship are significant determinants of economic competitiveness of EU countries. Thus, we identify significant positive relations between innovation rate, inflation rate, FDI and economic competitiveness, and significant negative relations between expectations regarding job creation, tax rate, costs and competitiveness. Our study completes the literature by analyzing the relationship between the quality of entrepreneurship and the competitiveness of countries, for an extensive sample formed by all the 28 countries members of the European Union for a period of seven recent years.
Keywords: entrepreneurship; global competitiveness index; innovation; job creation; panel data entrepreneurship; global competitiveness index; innovation; job creation; panel data
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
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Rusu, V.D.; Dornean, A. The Quality of Entrepreneurial Activity and Economic Competitiveness in European Union Countries: A Panel Data Approach. Adm. Sci. 2019, 9, 35.

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