Digital Entrepreneurship and Its Contribution to Economic Growth in Eastern and Central Europe: An Empirical Analysis

Entrepreneurship is increasingly popular today. However, the progressive advancement of information and communication technology in recent years has brought significant transformations in nearly all spheres of social and economic existence. The digitalization process has emerged as a key factor driving progress and modernity. Therefore, digital entrepreneurship has become a significant phenomenon in recent years, with a growing number of individuals and firms leveraging digital technologies to create and grow new businesses. The potential of digital entrepreneurship to contribute to economic growth is influential. This study aims to fill this gap by providing an empirical analysis of the contribution of digital entrepreneurship to economic growth in Eastern and Central Europe (ECE) countries. Using an autoregressive distributed lag (ARDL) model for panel data, we estimate the short-run and the long-run relationship between economic growth and innovative entrepreneurship that is using new technology and innovative entrepreneurship offering new products. The innovative entrepreneurship was measured using the new products entrepreneurship. By understanding the characteristics of digital entrepreneurship, the individual will be able to create new business ventures or transform existing businesses through the development of digital technologies.