ENTREPRENEURSHIP AND ENTREPRENEURIAL ECOSYSTEM IN THE V4 COUNTRIES: THE GLOBAL ENTREPRENEURSHIP INDEX PERSPECTIVE

Abstract

Summary: Unlike previous analyses that applied single activity related entrepreneurship measures like self-employment, business ownership ratio, or the GEM’s TEA rate, we use a complex entrepreneurship measure, the Global Entrepreneurship and Index (GEI) to examine the level of entrepreneurship in the V4 countries of the Czech Republic, Hungary, Poland and Slovakia. GEI incorporates both individual and institutional factors of entrepreneurship in order to explain the role of entrepreneurship in economic development. The GEI, with its three sub-indexes and fourteen pillars, is a particularly suitable tool for examining the level, the components, and the configuration of the National System of Entrepreneurship. Investigating the V4 countries, we can see that the overall level of entrepreneurship in these countries fits to their level of economic development.

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