SUSTAINABLE ENTREPRENEURSHIP AND ITS DETERMINANTS. THE CASE OF SELECTED CENTRAL EASTERN EUROPEAN COUNTRIES: FROM THE GLOBAL FINANCIAL CRISIS TO THE COVID-19 PANDEMIC
SUSTAINABLE ENTREPRENEURSHIP AND ITS DETERMINANTS. THE CASE OF SELECTED CENTRAL EASTERN EUROPEAN COUNTRIES: FROM THE GLOBAL FINANCIAL CRISIS TO THE COVID-19 PANDEMIC

Summary/Abstract: Sustainable entrepreneurship (SE) is a complex and topical research problem. This article assesses the impact of selected determinantson SE in five Central Eastern European countries (Bulgaria, Croatia, Hungary, Poland and Romania) from 2008 to 2021. Contextual fac-tors, such as macroeconomic stabilization, access to finance, knowledge creation, entrepreneurial capabilities, legal regulations, andenvironmental index, are analyzed. The article’s original contribution to knowledge consists in the construction of an SE indicator and anassessment of the external factors that affect it in the individual countries under investigation. The Correlation Coefficient, Ordinary LeastSquares, and the Vector Auto-Regression (VAR) models all demonstrate that external factors significantly impact SE. Moreover, thesemodels show that the relationships between the explained and explanatory variables differ in strength and direction. The results confirmthe necessity of coordinating entrepreneurship development policy (EDP) with macroeconomic, financial, and environmental policy.It is essential to use effective economic support tools and have the EU apply more pressure on countries that emit harmful substances.

• Details
• Contents