Youth entrepreneurship and new economy

• Main Author: Željko Pavić
• Format: Article
• Language: English
• Published: Faculty of Economics in Osijek 2008-12-01
• Series: Ekonomski Vjesnik
• Subjects: Entrepreneurship; entrepreneurial aspiration; youth; new economy; social integration
• Online Access: http://hrcak.srce.hr/file/66796

This paper starts with a theoretical analysis of changes, which are usually designated as the new economy. These changes are characterized by globalization, more intensive use of information technology and other important structural changes. Multidimensional character of the entrepreneurship phenomenon and its role in economic development and social integration are emphasized. The youth represent a social group, which is, due to its transitional attributes and developments in the labour market, in particularly vulnerable position in the new economy. This position could be improved through activation of the entrepreneurial potential of the youth. In order to estimate entrepreneurial potential and its determinants an empirical research is carried out on a cluster sample of 200 high-school students and 200 university students in Osijek. The results of the research show relatively high entrepreneurial aspiration of the youth, but they also show the negative impact of the lack of financial means and the unfavourable sociocultural conditions. The results also confirmed the importance of the entrepreneurial family background and sex as the significant determinants of entrepreneurial aspirations.