Economic Crisis and the Nature of Entrepreneurial and Management Activities

Leković Božidar () and Marić Slobodan ()
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Leković Božidar: University of Novi Sad, Faculty of Economics Subotica, Republic of Serbia
Marić Slobodan: University of Novi Sad, Faculty of Economics Subotica, Republic of Serbia

Economic Themes, 2016, vol. 54, issue 1, 21-44

Abstract: The essential research intention in this work is oriented toward considering the nature of entrepreneurial activities regarding to the volume of representation, according to some stages of the entrepreneurial process for defined groups of countries, different development degree in crisis conditions. The analysis of research data has drawn some conclusions, which have largely confirmed hypotheses. Obtained results, after the application of adequate statistical procedures, emphasize the existence of negative correlation, degree of economic development and the rate of economic growth. They are partly explained by the place and causes of analysed crisis circumstances, the degree of integrity of financial and economic systems, as well as the heterogeneous economic structure, as the main resistance to negative economic trends. The defined groups of countries of different development degrees show different differences in all the degrees of the entrepreneurial process. There is a positive correlation between the volume of entrepreneurial activities and the rate of economic growth, but on behalf of the countries of the lower development degree. Crisis conditions in the least developed countries generate an additional pressure on entrepreneurial activities; while the relatively stable environment of highly developed countries enables some individuals to find business possibilities outside the entrepreneurial sector.

Keywords: economic crisis; entrepreneurship; economic development; economic conditions; GEM project (search for similar items in EconPapers)
JEL-codes: M13 M21 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecothe:v:54:y:2016:i:1:p:21-44:n:2

DOI: 10.1515/ethemes-2016-0002

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