Measurement of Entrepreneurship Macro Surrounding Advantages: Country’s Economic Competitiveness Approach

Abstract

The economic development in the newly EU countries is oriented to the restructuring of economy also reduction of the differences in the economic development level of various regions. The enlargement of country’s competitive ability and creation of a modern knowledge-based economy are the priorities of the development. This paper concerns the measurement backgrounds of entrepreneurship macro surrounding advantages as a country’s economic competitiveness determinant that applicable for reasoning of the attitudes and decisions of economic development strategy using multi-attribute decision making methods. In principle, the assumption is made that the measurement must be performed according to the approach to every key determinant as a partial economic competitiveness which is subject of essential primary competitiveness macro factors. The conceptual provisions are foremost focused on the measurement of a totality of the national macro surrounding advantages based on the generalized model which reflects the interdependencies of primary macro factors in a system with account of the impact (vector) of each of them. This study is intended to reveal the deterministic measurement possibilities oriented to the reasoned multiple criteria evaluation methods on the basis adopted for the particular task models. The technique supposes the following procedures: the identification of essential primary macro factors, their quantifiable assessment (in points) as primary criteria allowing the different weights of the impact on economic competitiveness and the composition of task pillars. When examining the primary macro factors, the indicators of global country’s competitiveness index established by the World Economic Forum were taken into account. The whole of the typical primary macrofactors selected by three task pillars (those of specific business infrastructure, common economic surroundings, fiscal and monetary policy macrofactors) is presented. The favorability indexes of each pillar (as partially integrated criteria having different significance) and, in its turn, the generalized measure – macro surroundings favorability index have been determined by applying, in particular, Simple Additive Weighting method. Lithuania‘s macro surrounding advantages were evaluated according to the proposed technique: they may be scored at 54 point (in 100 point system).DOI: http://dx.doi.org/10.5755/j01.ee.23.1.1219

Assesment of the Industry Competitiveness of the Baltic States in the Eu During the Period of Economic Recession

“…Only a few studies include the comparative research of the industry competitiveness of the Baltic states. These studies can be classified into two groups: -the studies, which include the research of the competitiveness of different industries in the Baltic states in respect of the export: the competitiveness of textile industry according to the RCa and sI indexes (Kilduff, Chi 2007); -the studies, which include the research of the similarity of the Baltic countries' export to the EU according to the similarity index for the Baltic countries export to the EU (Kaitila 1999); cross-industrial trade specialization between the Baltic states and the EU according to Grubbell-Lloyd and the RCa indexes (Bernatonyte, Normantiene 2009); industrial competitiveness of the Baltic states in the EU market according to the RCa index (saboniene 2009;Zaghini 2005;Kaitila 2001;Fertő 2007;Misztal 2009); the assessment of the determinants of economic competitiveness in the Baltic states (Buracas et al 2012). The summarized results of the scientific research by different authors are presented in table 1.…”

Economic Crisis and the Nature of Entrepreneurial and Management Activities

“…The sector of small and medium-sized enterprises (SMEs) and entrepreneurship is cited as the most efficient instrument for the transformation of the former socialist countries, from centrally planned to market economies (Smallbone & Welter, 2001a). The enhancement of total competitive ability in the transitional economies requests the creation of a modern knowledgebased economy, the sustainable economic growth and the enlargement of the country's economic competitiveness (Buracas, et al, 2012). That development of the features of entrepreneurship's expression depends on economic transformations also is related to new innovation, technologies, and knowledge used (Greblikaite & Krisciunas, 2012).…”

The interactions between wages and productivity nurturing the country’s competitiveness

“…Competitiveness peculiarities Scientist (Polak 2015) suggests that the rate of the wage and its structure has an impact on the economic situation and global demand and promotes the competitiveness of the economy, have an impact on companies and their products. The concept of competitiveness is analysed by the many scientists (Schwab, Porter 2007;Meilienė, Snieška 2010;Dijkstra et al 2011;Buračas et al 2012;Rakauskienė, Tamošiūnienė 2013;Žitkus, Mickevičienė 2013;Camagni, Capello 2014).…”