Productive entrepreneurship in the EU and its barriers in transition economies: A cluster analysis

Abstract

A wide-spectrum of registered entrepreneurial activities can be observed in transition economies. However, the outcomes are not reflected in the projected economic growth. This article examines the entrepreneurial performance of transition economies in the European context and presents a research approach on the relationship between economic development, institutions and entrepreneurship in order to identify needs to eliminate barriers to productive entrepreneurship. The authors present a cluster analysis of EU Member States. In this respect, the scientific approach is a necessity. The findings of the study can be useful for policymakers to formulate policies in concordance with priorities.