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Entrepreneurial Activity In Romania - A Time Series Clustering Analysis At The Nuts3 Level

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  • Sipos-Gug Sebastian

    ()
    (University of Oradea, Faculty of Economics)

  • Badulescu Alina-Daciana

    ()
    (University of Oradea, Faculty of Economics)

Abstract

Entrepreneurship is an active field of research, having known a major increase in interest and publication levels in the last years (Landström et al., 2012). Within this field recently there has been an increasing interest in understanding why some regions seem to have a significantly higher entrepreneurship activity compared to others. In line with this research field, we would like to investigate the differences in entrepreneurial activity among the Romanian counties (NUTS 3 regions). While the classical research paradigm in this field is to conduct a temporally stationary analysis, we choose to use a time series clustering analysis to better understanding the dynamics of entrepreneurial activity between counties. Our analysis showed that if we use the total number of new privately owned companies that are founded each year in the last decade (2002-2012) we can distinguish between 5 clusters, one with high total entrepreneurial activity (18 counties), one with above average activity (8 counties), two clusters with average and slightly below average activity (total of 18 counties) and one cluster with low and declining activity (2 counties). If we are interested in the entrepreneurial activity rate, that is the number of new privately owned companies founded each year adjusted by the population of the respective county, we obtain 4 clusters, one with a very high entrepreneurial rate (1 county), one with average rate (10 counties), and two clusters with below average entrepreneurial rate (total of 31 counties). In conclusion, our research shows that Romania is far from being a homogeneous geographical area in respect to entrepreneurial activity. Depending on what we are interested in, it can be divided in 5 or 4 clusters of counties, which behave differently as a function of time. Further research should be focused on explaining these regional differences, on studying the high performance clusters and trying to improve the low performing ones.

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Bibliographic Info

Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

Volume (Year): 1 (2013)
Issue (Month): 1 (July)
Pages: 673-682

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Handle: RePEc:ora:journl:v:1:y:2013:i:1:p:673-682

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Related research

Keywords: entrepreneurship; cluster analysis; time series; regional clustering;

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References

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  1. Landström, Hans & Harirchi, Gouya & Åström, Fredrik, 2012. "Entrepreneurship: Exploring the knowledge base," Research Policy, Elsevier, Elsevier, vol. 41(7), pages 1154-1181.
  2. Edward Glaeser & William Kerr & Giacomo Ponzetto, 2009. "Clusters of Entrepreneurship," Working Papers, Center for Economic Studies, U.S. Census Bureau 09-36, Center for Economic Studies, U.S. Census Bureau.
  3. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 7(02), pages 149-159, November.
  4. Mercedes Delgado & Michael Porter & Scott Stern, 2010. "Clusters and Entrepreneurship," Working Papers, Center for Economic Studies, U.S. Census Bureau 10-31, Center for Economic Studies, U.S. Census Bureau.
  5. Glavan, Bogdan, 2007. "Coordination Failures, Cluster Theory and Entrepreneurship: A Critical View," MPRA Paper 6033, University Library of Munich, Germany.
  6. Joao Ricardo Faria & Juan Carlos Cuestas & Estefania Mourelle, 2008. "Entrepreneurship and unemployment: a nonlinear bidirectional causality," Working Papers, Nottingham Trent University, Nottingham Business School, Economics Division 2008/6, Nottingham Trent University, Nottingham Business School, Economics Division.
  7. Karlsson, Charlie & Johansson, Börje & Stough, Roger, 2008. "Entrepreneurship and Innovation in Functional Regions," Working Paper Series in Economics and Institutions of Innovation, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies 144, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  8. Hector Rocha & Rolf Sternberg, 2005. "Entrepreneurship: The Role of Clusters Theoretical Perspectives and Empirical Evidence from Germany," Small Business Economics, Springer, Springer, vol. 24(3), pages 267-292, 02.
  9. Franz Kronthaler, 2005. "Economic capability of East German regions: Results of a cluster analysis," Regional Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 39(6), pages 739-750.
  10. Anselin, Luc & Varga, Attila & Acs, Zoltan, 1997. "Local Geographic Spillovers between University Research and High Technology Innovations," Journal of Urban Economics, Elsevier, vol. 42(3), pages 422-448, November.
  11. Justin van der Sluis & Mirjam van Praag & Wim Vijverberg, 2008. "Education And Entrepreneurship Selection And Performance: A Review Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 22(5), pages 795-841, December.
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