Unveiling the Dynamics of the European Entrepreneurial Framework Conditions over the Last Two Decades: A Cluster Analysis

Entrepreneurship is a theme of global interest, and it is the subject of investigations conducted by many researchers and projects. In particular, the Global Entrepreneurship Monitor project is a global project that involves several countries and years of surveys on entrepreneurship indicators. This study focuses on the 12 indicators of the entrepreneurial ecosystem defined by the Entrepreneurial Framework Conditions (EFCs). The EFCs are specifically related to the quality of the entrepreneurial ecosystem. Using clustering techniques, the present study analyzes how European experts’ perceptions on the EFCs of their home country have changed between 2000 and 2019. The main finding is the existence of significant differences between the clusters obtained over the years and between countries. Therefore, in theoretical terms, this dynamical behavior in relation to the entrepreneurial conditions of economies should be considered in future works, namely, those concerning the definition of the number of clusters, which, according to the internal validation measures computed in this work, should be two.