THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP
THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP

Author(s): Mihaela Mikić, Tin Horvatinović, Ivana Kovač
Subject(s): National Economy, Business Economy / Management, Demography and human biology, Financial Markets, Socio-Economic Research
Published by: Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Keywords: senior entrepreneurship; macroeconomic indicators; development;
Summary/Abstract: Senior entrepreneurship, either as a partial employment option used to make additional income for a pension or as a full career option, is a tool for improving senior citizens’ economic position, quality of life, and self-actualization. The goal of this chapter is to identify macroeconomic indicators that can influence the development of senior entrepreneurship. The macroeconomic indicators investigated include GDP, unemployment, inflation, average salary, retirement age, and poverty risk. Research results showed two significant variables that influence the development of senior entrepreneurship: GDP and inflation. GDP was found to have a positive relationship, while inflation had a negative one. The limitations of this research include a lack of data, which limited research to only 11 countries in the European Union instead of all of them. Moreover, because the theory basis is very limited, it is hard to identify variables of interest. It is possible that because of this, none of the social security system variables showed as significant. Recommendations for future research would include further investigation of the influence of the economic environment on senior entrepreneurship to create a base for quality policy measures for its development and to broaden the investigation to include other types of environments. Furthermore, the motivation for starting a business in senior years should be investigated more, including economic and social perspectives.

• Details
• Contents