Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/317517 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Business Economics and Management (JBEM) [ISSN:] 2029-4433 [Volume:] 22 [Issue:] 5 [Year:] 2021 [Pages:] 1160-1188
Publisher: 
Vilnius Gediminas Technical University, Vilnius
Abstract: 
The main research aim is to investigate and test the long-term existence of a balanced relationship (cointegration) between business demographics and economic growth, expressed in terms of real GDP per capita, and to estimate the econometric models expressing relationships between analyzed variables in European economy. Our The study has focused on ten out of the eleven former communist countries, currently members of the European Union, during the 2006-2016 time period. Croatia was left out due to the shortness of the time series available for it, that the study would have required. These findings have significant implications in designing and shaping the future business models in European former communist countries, and increase convergence. The results obtained confirm the existence of long-term balanced relationships between the variables examined, the forms of which however vary from one cluster of states to another.
Subjects: 
business demography
business churn
convergence
econometric methods
economic growth
European economic model
GDP
Hierarchic Cluster methodology
SMEs
JEL: 
C51
D2
E32
M31
L26
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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