— Presented paper deals with possible relationships between some indicators of business environment among the selected European Union Member States. The main observed indicators were Employment protection legislation, Product market regulation and Ease of doing business. First, these measurements of business regulation were compared (reference year 2008). Empirical results showed that favorable level of business regulation existed in United Kingdom and Ireland. Second, non-parametrical approach was applied. Values of Spearman´s rank correlation coefficient suggested that there existed positive correlation between individual rankings, especially between Product market regulation and Ease of doing business.
— Business environment, European Union, comparison, regulation, Spearman´s rank correlation coefficient.
Michal Tvrdon is with the Silesian University in Opava, School of Business Administration, Univerzitni nam. 1934/3, 733 40 Karvina, Czech Republic (e-mail: tvrdon@ opf.slu.cz).
Cite: Michal Tvrdon, " Relationship between Some Indicators of Business Environment: Evidence from the European Union," Journal of Economics, Business and Management vol. 1, no. 3, pp. 244-247, 2013.