Economic Convergence and Entrepreneurship: Searching for Interrelationship on the Example of the European Union Countries
Economic Convergence and Entrepreneurship: Searching for Interrelationship on the Example of the European Union Countries

Summary/Abstract: The aim of the article is to present the findings of preliminary research into relationship between entrepreneurship and economic convergence. Entrepreneurship was expressed with Total Entrepreneurial Activity (TEA) measure, economic growth with Gross Domestic Product (GDP) per capita according to PPS, and convergence as beta type convergence. The research was carried out for the selected European Union countries in years: 2004–2016. The research methods used in the study are analyses and syntheses of literature concerning economic growth, convergence and international entrepreneurship. The relationship of entrepreneurship with the economic growth and convergence was shown on a scatter diagram and based on Pearson correlation coefficient. The combination of these two research areas is the value added of the paper. The research confirmed the existence of the relation between these categories. It was shown on a scatter diagram and estimated based on correlation coefficient. The results are not univocal for all analysed economies. However, it should be emphasised that the preliminary research is encumbered with severe limitations, which requires to exercise caution when drawing uncompromising conclusions. The limitations concern the reliability of the entrepreneurship measure at the level of a country, as well as the introduced quantitative research quantity. It is strongly recommended to conduct further, in-depth research with the use of advanced statistical and econometric methods.

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