The evaluation of competitive position of EU-28 economies with using global multi-criteria indices

• Authors: Dana Kiseľáková , Beáta Šofranková , Erika Onuferová , Veronika Čabinová

Abstracts

EN

Research background: Under the current conditions of increasing competitiveness and interdependence, national economies are more influenced by the global business environment and its development. Constantly changing economic, social, political aspects, and many other factors, cause the differences in the global competitiveness of economies, so the economies are forced to analyze their competitive level more complexly. Despite that, there is a lack of research studies analyzing the international competitiveness of EU-28 economies from the point of view various multi-criteria indices. Purpose of the article: The paper investigates the relations between the Global Competitiveness Index (GCI) and other selected multi-criteria indices, namely the Global Innovation Index (GII), the Doing Business Index (DBI), the Economic Freedom Index (EFI) and the Corruption Perceptions Index (CPI) in the case of EU?28 economies. Methods: In order to investigate the relations between the global competitiveness and selected multi-criteria indices affecting the EU?28 economies, the multiple linear regression analyses were applied. The multiple regression model was quantified for every single year, as well as, the regression model using the average score of all analyzed indices. The secondary data concerning the scores of individual indices were collected based on annually published online reports over the period of 2014?2018. Findings & Value added: The research confirmed that there is a statistically significant dependence between the global competitiveness, corruption and the level of innovation potential within the EU?28 economies. Besides, we identified the worst results in the context of competitiveness evaluation especially in the area of corruption and innovation activities. In this regard, the issue of insufficient innovation development and inappropriate corruption perception is considered to be key determinants influencing the assessment of the global competitiveness of the EU?28 member states. In our opinion, to improve the competitiveness of these countries, targeted activities should be implemented in the frame of national competitive strategies, programs, and policies.

Keywords

EN

Global Competitiveness Index; multi-criteria indices; EU-28 economies; multiple linear regression analyses

• Publisher: Instytut Badań Gospodarczych
• Journal: Equilibrium. Quarterly Journal of Economics and Economic Policy
• Year: 2019
• Volume: 14
• Issue: 3
• Pages: 441-462

Dates

published

2019

Contributors

author

Dana Kiseľáková

• University of Presov

• https://orcid.org/0000000156625809

author

Beáta Šofranková

• University of Presov

• https://orcid.org/0000000197660467

author

Erika Onuferová

• University of Presov

• https://orcid.org/0000000185298843

author

Veronika Čabinová

• University of Presov

• https://orcid.org/0000000343673590

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Identifiers

DOI

10.24136/eq.2019.021

Biblioteka Nauki

22446406