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Tanja Zdolšek Draksler and Karin Širec

: An institutional perspective on new ventures and the business plan. Journal of Business Venturing , 24, 27–45. https://doi.org/10.1016/j.jbusvent.2007.10.003 Kiggundu, M. N. (2002). Entrepreneurs and Entrepreneurship in Africa: What is Known and What Needs to be Done. Journal of developmental Entrepreneurship , 7 (3). Kvedaraite, N. (2014). Reasons and Obstacles to Starting a Business: Experience of Students of Lithuanian Higher Education Institutions. Management – Journal of Contemporary Management Issues, 19 (1), 1–16. Kyndt, E. in Baert

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Mihaela Simionescu

Abstract

Considering the potential factors that might generate economic growth, a target for any economy, this paper identified some determinants of economic growth in the countries from Central and Eastern Europe (CEE countries) that are member states of the European Union. The foreign direct investment was the most important determinant of economic growth in most of the countries (Bulgaria, Slovenia, Estonia, Hungary, Romania, Poland, Latvia, Lithuania) in the period 2003-2016, according to Bayesian bridge regressions. The indicators related to the level and the quality of labour resources proved to be insignificant in explaining the economic growth in these countries. Moreover, in Croatia, Estonia, Latvia, Lithuania, and Poland, the government expenditure on education had a negative effect on economic growth.

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Ioan Gh. Pop, Ioan S. Fotea and Silvia L. Fotea

,” Knowledge in Organizations , L. Prusak, Editor, Butterworth-Heinemann, Woburn, MA. 70. Pop, I. G., Mătieş, V., (2008a), A Transdisciplinary Approach to Knowledge in Mechatronical Education, 7th France-Japan and 5th Europe-Asia Mechatronics Congress , Anecy, May 21-23, pp. 195-198. 71. Pop, I.G., (2009a), Creativity as a Reflexive Transdisciplinary Language in the Mechatronical Knowledge, “Problems of Education in the 21st Century”, Lithuania , vol.13 (13), pp. 94-102, may, 2009; 11, SMC “Scientia Educologica”, Lithuania, ISSN 1822-7864 ; 72. Pop, I