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Analysis of Macroeconomic Factors for the Establishment of Industrial Parks and Their Effects on Regional Development: Empirical Study from Slovakia

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  • Dana Kiselakova
  • Alexander Kiselak

Abstract

The aim of this study is to identify and analyze the key macroeconomic factors affecting the establishment and entrepreneurship in industrial parks with positive effects on sustainable regional development in Slovakia as member of the EU and euro area. The relationship of dependence between factors of regional growth, investments, and investment costs for setting up industrial parks and effects on regional development is surveyed by variables of the regression analysis (years 2001-2011) and construction of linear regression models to meet real macroeconomic development in Slovakia. To conclude, identified main localization factors relevant to the management of support and establishment of industrial parks in Slovakia are: status of foreign direct investments, employment of persons, governmental financial support – investment incentives, marketing strategy to attract investors, overall readiness and availability of the industrial area with focus on the positive effects of regional development, using regional GDP per capita, in particular to reduce regional unemployment rate.

Suggested Citation

  • Dana Kiselakova & Alexander Kiselak, 2014. "Analysis of Macroeconomic Factors for the Establishment of Industrial Parks and Their Effects on Regional Development: Empirical Study from Slovakia," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(9), pages 1220-1236.
    • Handle: RePEc:asi:aeafrj:v:4:y:2014:i:9:p:1220-1236:id:1251
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