TOTAL ENTREPRENEURIAL ACTIVITY AND ECONOMIC GROWTH

Abstract

Entrepreneurship represents the action of the social actor of transformation into an economic agent, namely: the discovery, evaluation and exploitation of opportunities to create goods and services Thus, as a social force, entrepreneurial activity generates economic effects. Based on the statistical analysis of the data regarding the dependence between the entrepreneurial activity of mature people (aged between 18 and 64) and GDP, from 50 countries, we determined that there is a statistically significant direct relationship between Total Entrepreneurial Activity and Economic Growth. The values obtained from the econometric modeling, respectively from the regression equation, validate the research hypothesis and can outline the following conclusion. This research shows us that the decision of entrepreneurial debut is necessary to transform opportunities into realities and economic growth is possible on the basis of entrepreneurial activity, which turns potential energy into cash.

Keywords

• economic growth;
• total entrepreneurial activity;