Global Competitiveness of the European Union Member States: Evolution and Perspectives

Tudose, Mihaela Brîndușa; Rusu, Valentina Diana

doi:10.29358/sceco.v0i22.326

Cited by 4 publications

(3 citation statements)

References 5 publications

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“…This enabled conducting quantitative research to indicate how the spending policy implemented by national government can contribute to improved sustainable development indicators both in the countries that comply with the Maastricht deficit criterion and those that do not. For detailed analysis, four indicators were selected: Those indicators also contribute to competitiveness as described by Tudose & Rusu (2015) in a particular ability to create wealth and high standard of living in a country with the lowest rate of unemployment. A decision was made to conduct the research using panel models with sustainable development indicators as dependent variables, and EU countries' public spending levels according to COFOG categories (The Classification of the Functions of Government) and subcategories as explanatory variables.…”

Section: Aim Methodology and Data Used In The Researchmentioning

confidence: 99%

The Impact of Public Finance Management on Sustainable Development and Competitiveness in EU Member States

Postuła¹,

Raczkowski²

2020

JOC

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The social and economic policy pursued by national and European authorities is supported by the redistribution of public funds. Choices made by European member states regarding the relevant scale of redistribution should promote the individual nation's sustainable development and competitiveness. Increased capital and workforce flows strengthen so-called fiscal and spending competition, which weakens governments' capacity for running an autonomous fiscal policy. In EU countries, however, there are still quite significant differences between the basic parameters of fiscal and spending systems, indicating that governments are not as powerless as is often claimed. Further, the fact that elements of fiscal policy have consequences for a country's competitiveness should not be overlooked. Keeping this in mind, the main purpose of this article is to examine to what extent EU member states' public spending can have a real impact on changing performance indicators for goals related to competitiveness and sustainable development. To this end, an approach based on panel models (individual vs. random effects) verified with a Hausman specification test was used. Our findings demonstrate the significant impact of an active spending policy on the indicators selected for analysis, i.e. indicators related to the stable development and competitiveness of EU member states within the period of 2008-2018. Our research results have also shown that to measure competitiveness there is a need to integrate a number of varied economic, social and innovative factors to analyze the growth potential of a particular country. In turn, our model studies demonstrate that countries where the fiscal deficit is below 3% of GDP can implement a sustainable development policy more effectively, thus promoting competitiveness, instead of the periodic shocks and budget cuts which accompany remedial processes and procedures to alleviate excessive deficits.

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Section: Aim Methodology and Data Used In The Researchmentioning

confidence: 99%

The Impact of Public Finance Management on Sustainable Development and Competitiveness in EU Member States

Postuła¹,

Raczkowski²

2020

JOC

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“…As reported by [4], international competitiveness has long been a major preoccupation of economic thought and has been receiving increasing attention from scientists, policy makers, businesses and the general population alike. According to [5], the analysis of competitiveness allows an appreciation of the extent to which the various economies of the world's countries have managed to face economic challenges. The competitiveness has been and remains a priority in the plan of the scientific debate, but also a major concern for all world economies.…”

Section: Introductionmentioning

confidence: 99%

Competitiveness and Its Impact on Sustainability, Business Environment, and Human Development of EU (28) Countries in terms of Global Multi-Criteria Indices

et al. 2019

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In this paper, the following research problem was addressed: Is there a significant economic impact of multidimensional specified competitiveness within the EU (28) countries on the competitive business environment, human development, and sustainable growth? Based on the mentioned research problem, we formulated the aim of paper: To detect the significant interrelations among the assessment of global competitiveness, business environment as well as human development in the EU (28) countries for the period of 2006–2017. To address these problems, the methodology of global multi-criteria indices, namely the global competitiveness index (GCI), doing business index (DBI), and human development index (HDI), as well as panel analysis and non-linear regression analyses with ANOVA, were applied. The panel analysis results suggest that there is a direct linear relationship between the GCI and HDI. Moreover, the impact of the DBI on the change in the GCI score was not confirmed. We identified the main areas of countries’ interest, and important economic and statistical significant relations of competitiveness by creating three models: The GD model (constructed by GCI and DBI scores), GH model (GCI and HDI scores), and GDH model (GCI, DBI and HDI scores). Based on the results, all interrelations were confirmed. However, the highest extent of variability for the explanation of the selected data was recorded in the case of the GDH model (87.12%). We detected the impact of the business environment and human resources as competitive advantages on global macroeconomic competitiveness. As the business sector in EU (28) countries is represented mainly by small and medium-sized enterprises (SMEs), enterprise activities play a key role in the process of sustainable competitive economic development. Moreover, human resources are considered to be another important driver of the internationalization of European SMEs.

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“…Accordingly, several authors have tried to evaluate the relative importance of different factors and indicators of such competitiveness, looking into the differences between the countries' level of technological advancement and innovation capacity as indicators of the economy's development stage. Having an understanding of the national gaps in the technology and innovation status enables an understanding of which countries have economies based on efficiency, versus those, whose advancement and competitiveness are based on innovation (Tudose and Rusu, 2015).…”

Section: Introductionmentioning

confidence: 99%

Assessing international competitiveness and its role towards the economic prosperity within EU integration framework

Stanojevic¹,

Velickovic²

2021

Management (Split, Online)

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Enhancing competitiveness in the era of globalization has become an essential topic of academic and policy debates for all contemporary economies. The role of a country’s competitiveness has been addressed by many scholars aiming to assess the extent to which this concept is associated with economic prosperity matters, such as social welfare and attracting foreign direct investments. Along with this debate, there has been a growing interest in understanding the linkages between the competitive forces and the gap in economic progress across the EU members, this being one of the main concerns within the EU. Filling this gap and achieving greater convergence among the EU countries has been one of the critical goals in shaping the European structural policy reforms. However, following the empirical findings, there has been little consensus on what are the main sources of a country’s economic progress as addressed through the prism of national competitiveness, particularly if being studied in the context of EU integration. In this context, the study aims to assess the economic performance of the countries that joined the EU first and those that joined last, concerning its linkages with a country’s international competitiveness. The focus is placed on innovation and business sophistication factors’ relative significance and contribution to the economic growth for the observed period (2008-2017). The analysis is based on the World Economic Forum methodology for measuring the Global Competitiveness Index and World Bank database. The research is conducted through comparative analysis, as well as regression analysis aiming to evaluate the relationship between competitiveness and economic development indicators. The findings of the study emphasize a better understanding of the importance of the EU accession date for the country’s overall competitiveness and economic performance, as well as the contribution of R&D innovation and business sophistication, as more advanced competitiveness factors, to economic prosperity and development.

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Global Competitiveness of the European Union Member States: Evolution and Perspectives

Cited by 4 publications

References 5 publications

The Impact of Public Finance Management on Sustainable Development and Competitiveness in EU Member States

The Impact of Public Finance Management on Sustainable Development and Competitiveness in EU Member States

Competitiveness and Its Impact on Sustainability, Business Environment, and Human Development of EU (28) Countries in terms of Global Multi-Criteria Indices

Assessing international competitiveness and its role towards the economic prosperity within EU integration framework

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