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Economic performance of the NUTS III Regions in the Czech Republic in the context of entrepreneurship subsidies from the EU Structural Funds

Author

Listed:
  • Jana Kolaøíková

    (University of Economics, Prague, Faculty of Economics,Department of Regional Studies, Winston Churchill Sq. 4, 130 67 Prague 3, The Czech Republic)

  • Ondøej Dvouletý

    (University of Economics, Prague, Faculty of Business Administration, Department of Entrepreneurship, Winston Churchill Sq. 4,130 67 Prague 3, The Czech Republic.)

  • Petr Kolaøík

    (University of Economics, Prague, Faculty of Economics, Department of Regional Studies, Winston Churchill Sq. 4, 130 67 Prague 3, The Czech Republic)

Abstract

Entrepreneurship is considered to be one of the essential factors of economic growth and entrepreneurship policy is considered to be a significant contributor to the regional economic development. The aim of the present paper is to determine whether the unemployment rate and the GDP per capita of the NUTS III regions in the Czech Republic are influenced by the amount of financial subsidies paid to businesses from the Operational Programme Enterprise and Innovation (OPEI). We employed regression analysis and Granger Causality testing in order to evaluate our Hypotheses. Results from the use of econometric models confirmed statistically significant positive impact of OPEI subsidies lagged by one year on the growth of NUTS III GDP per capita. However, we were unable to confirm statistically significant initial impact of OPEI subsidies on the growth of GDP per capita. The hypothesis assuming negative impact of OPEI subsidies on changes of regional unemployment rate was statistically confirmed both initially and with a lag of one year.

Suggested Citation

  • Jana Kolaøíková & Ondøej Dvouletý & Petr Kolaøík, 2018. "Economic performance of the NUTS III Regions in the Czech Republic in the context of entrepreneurship subsidies from the EU Structural Funds," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(1), pages 129-153.
    • Handle: RePEc:rfe:zbefri:v:36:y:2018:i:1:p:129-153
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    More about this item

    Keywords

    Internet; ICT; e-sales; exports; service firms;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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