<abstract xmlns="http://www.w3.org/1999/xhtml"><p> In this research, the impact of total early-stage entrepreneurial activity and competitiveness of the economy on the real gross domestic product (GDP) per capita is analyzed in a cross-section of world economies using the methods of correlation and multiple regression analysis. In the attempt to select between the linear and the double-logarithmic model, the regression diagnostics and quality of the relationship between the dependent and the independent variables were analyzed. The functional form of the model was tested by the MacKinnon, White and Davidson test. Model selection methods regarding the comparison of coefficients of determination and the Akaike information criterion were used. The results of the analysis show that independent variables have a statistically significant impact on the real GDP per capita, and that the real GDP per capita is elastic to the changes of competitiveness but inelastic to the changes of total early-stage entrepreneurial activity.</p></abstract>

In this research, the impact of total early-stage entrepreneurial activity and competitiveness of the economy on the real gross domestic product (GDP) per capita is analyzed in a cross-section of world economies using the methods of correlation and multiple regression analysis. In the attempt to select between the linear and the double-logarithmic model, the regression diagnostics and quality of the relationship between the dependent and the independent variables were analyzed. The functional form of the model was tested by the MacKinnon, White and Davidson test. Model selection methods regarding the comparison of coefficients of determination and the Akaike information criterion were used. The results of the analysis show that independent variables have a statistically significant impact on the real GDP per capita, and that the real GDP per capita is elastic to the changes of competitiveness but inelastic to the changes of total early-stage entrepreneurial activity.

The role of entrepreneurship in explaining the real Gross Domestic Product per capita: Regression model selection

VERN University of Applied Sciences, Zagreb,

Croatian Review of Economic, Business and Social Statistics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

In this research, the impact of total early-stage entrepreneurial activity and competitiveness of the economy on the real gross domestic product (GDP) per...

The role of entrepreneurship in explaining the real Gross Domestic Product per capita: Regression model selection

Published Online: Oct 15, 2016

Page range: 24 - 38

Received: Apr 20, 2016

Accepted: Aug 25, 2016

DOI: https://doi.org/10.1515/crebss-2016-0007

Keywords
Akaike information criterion, correlation, double-logarithmic regression model, entrepreneurship, multiple linear regression model

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The role of entrepreneurship in explaining the real Gross Domestic Product per capita: Regression model selection

Published Online: Oct 15, 2016

Page range: 24 - 38

Received: Apr 20, 2016

Accepted: Aug 25, 2016

DOI: https://doi.org/10.1515/crebss-2016-0007

KeywordsAkaike information criterion, correlation, double-logarithmic regression model, entrepreneurship, multiple linear regression model

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
Akaike information criterion, correlation, double-logarithmic regression model, entrepreneurship, multiple linear regression model