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Entrepreneurial Innovation: the European Union perspective

Author

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  • Ignatov Augustin

    (Head of Research and Promotion Section, Centre for Studies in European Integration, Academy of Economic Studies of Moldova (ASEM), 59 Banulescu-Bodoni Street, Building B, office 702, Chisinau, Republic of Moldova)

Abstract

Entrepreneurship is the driving force of economic development and progress. A successful state, first of all, provides favourable conditions motivating the businesses to grow and flourish. Presently, the European Union is developing unevenly with multiple economic misbalances across the community, the West and the North being more competitive than the South and the East. The aim of the present research is to examine the framework of interdependence between the degree to which the governance quality and economic freedom in the European Union are supporting entrepreneurial activities and the performance of the community in terms of entrepreneurial innovation. The results reached through applying both qualitative and quantitative analyses show that the interdependence between entrepreneurial innovation and regulatory efficiency is strong for many of the European Union states which is determined by multiple factors including the institutional and economic ones. Also, the present paper underlines the importance of the proper regulatory framework for the efficient development of business innovation. The future research on this matter could consider in depth the impact of socio-cultural environment, its influence on the quality of governance and the impact of both upon the European entrepreneurial innovation.

Suggested Citation

  • Ignatov Augustin, 2018. "Entrepreneurial Innovation: the European Union perspective," Review of Economic Perspectives, Sciendo, vol. 18(2), pages 137-154, June.
    • Handle: RePEc:vrs:reoecp:v:18:y:2018:i:2:p:137-154:n:3
    DOI: 10.2478/revecp-2018-0008
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    References listed on IDEAS

    as
    1. Augustin IGNATOV, 2016. "European Energy Integration in East European Countries: Real Necessity to Assure Fair Market prices for Energy Resources," CSIE Working Papers, Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), issue 1, pages 31-44, June.
    2. Augustin Ignatov, 2017. "Liberalism - Key to Entrepreneurial and Innovation Success: Estonian Case Study," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(66), pages 43-62, December.
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