SLOVAK RETAIL BUSINESS ACROSS PANEL REGRESSION MODEL.

The business sector is directly linked to many other social and economic indicators of the settlement, region and the state. Especially the retail trade is influenced by the consumption of households that directly affects the regional development. This present paper deals with the essence of the understanding of the retail industry as well as its impact on regional development in the Slovak Republic on the basis of the presented analyses of selected macroeconomic indicators in the SR. Addressing the issue was preceded by the systematic collection of the scientific literature of the studied issue in order to comprehensively assess the individual variables. The main purpose of the research is to verify statistical significance between the registered number of employees in the retail sector and its impact on the regional development with an accent on the chosen macroeconomic indicator, as well as evaluate the results gained by verification of the model. The focus of the survey is on the Slovak retail sector. The retail sector of Slovakia is analysed on the basis of macroeconomic data. Setting hypotheses were essential to conduct the analysis. We suggest verifying the hypotheses I and II, which concern according to two variables. To verify the hypotheses, annual data from the time interval of 2000 - 2010 was used. Based on the indicators of hypotheses evaluation, a recorded number of employees in retail trade and the ratio of employed in retail business as a part of the total employment in the region had been applied. Methodological tools of the research methods were standard deviations (t-statistics, p-values) have been estimated by Driscoll-Krayy estimator and Ordinary Least Squares Method. This paper presents the results of an empirical analysis and the statistical findings are expressed by statistical software - Stata. The analysis of macroeconomic correlation detected the direct relationship between the number of employees in the retail sector and the regional GDP. [ABSTRACT FROM AUTHOR]