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It seems to be a combination of adopting a name of a ruling tribe and/or a geographic name.
For example;
Russia - named after state forming Scandinavian tribe of Rus.
Bulgaria - named after state forming Asiatic tribe of Bulgars
Serbia - named after old Serboi - probably of Sarmation descent
Croatia - named after old Hrvati - probably of Sarmation descent
Ukraine - named after Slavic term Kraj for territory
Poland- named after Slavic term for plain - Pole
Macedonia - named after the ancient region of Macedonia
Bosnia - named after a river
Montenegro - named after Black Montain
Czech - named after the Slavic tribe of that name
Slovakia/Slovenia - derivatives of name Slav
Lusation Sorbs - from the Sorbian word luzicy meaning "swamps" or "water-hole".
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