2021
DOI: 10.7441/joc.2021.01.08
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The Main Drivers of Competitiveness in the EU-28 Countries

Abstract: During the past few decades, globalization has dramatically changed the context of competitiveness around the world. Considering the role of competitiveness in the development of the digital economy, this paper aims to highlight the role of innovation, foreign direct investment (FDI), and human capital in supporting competitive European economies. The research hypothesis is that FDI, innovation, and human capital contribute to competitiveness growth. The paper extends the Cobb-Douglas function by including oth… Show more

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Cited by 22 publications
(16 citation statements)
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“…Thus, the concept of sustainable regional competitiveness should be strongly promoted. There are some methods allowing us to measure competitiveness, e.g., a Cobb-Douglas production function [47], multiple-criteria decision making techniques [48], the taxonomic methods [49] or the factor analysis. The factor analysis applied in this study enabled us not only to reduce the number of variables but also to identify a limited number of factors--pillars--of each dimension of competitiveness.…”
Section: Discussionmentioning
confidence: 99%
“…Thus, the concept of sustainable regional competitiveness should be strongly promoted. There are some methods allowing us to measure competitiveness, e.g., a Cobb-Douglas production function [47], multiple-criteria decision making techniques [48], the taxonomic methods [49] or the factor analysis. The factor analysis applied in this study enabled us not only to reduce the number of variables but also to identify a limited number of factors--pillars--of each dimension of competitiveness.…”
Section: Discussionmentioning
confidence: 99%
“…The Spearman's correlation coefficient can take a range of values from −1, in case of perfect negative correlation, to +1, in case of perfect positive correlation between ranks ( 41 43 ). The used methods enable to rank the EU countries according to the selected criteria and to follow the competitiveness of the countries ( 44 , 45 ).…”
Section: Methodsmentioning
confidence: 99%
“…Another important economic factor that attracts migrants from one country to move to another is the level of economic development of the destined country. The GDP levels and rates are indicators of a country's competitiveness (Gavurova et al, 2020c;Simionescu et al, 2021;Gavurova et al, 2021;Pereira-Moliner et al, 2021), and they are often used in empirical research papers when analysing migration flows (Portes, 2019;Simpson, 2017;Testaverde et al, 2017). In a source country, the lower GDP level will be a push factor for migrants, and the higher GDP level in a destined country will be a pull factor (European Commission, 2018a; Paul, 2020; Stefancik et al, 2021).…”
Section: Theoretical Backgroundmentioning
confidence: 99%