Competitiveness and Economic Growth in the European Union

Zagoršeková, Natália; Čiefová, Michaela; Cambalikova, Andrea

doi:10.14505//jarle.v8.8(30).11

Cited by 5 publications

(3 citation statements)

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“…Meanwhile, Dijkstra et al [44] maintained that the Global Competitiveness Index is indeed the most internationally recognized index covering a fairly comprehensive set of aspects relevant to competitiveness. Taking into consideration the Global Competitiveness Index, Zagoršeková et al [45] did not find a positive relationship between the level of competitiveness and economic growth of the EU Member States. Rusu and Roman [46] used the Global Competitiveness Index in the applied regression models, and the results show differences with regard to the impact of the economic factors on competitiveness, according to the stage (efficiency-driven, in transition between efficiency and innovation and innovation-driven) of development of Central and Eastern European countries.…”

Section: Review Of the Related Literaturementioning

confidence: 94%

The Determinants and Effects of Competitiveness: The Role of Digitalization in the European Economies

et al. 2021

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Improving national competitiveness is fundamental to raising long-term economic growth rates and enhancing living standards. The determinants of competitiveness change along with macroeconomic factors, business environment and consumer demand. These changes are visible in the growing importance of digitalization of enterprises of all sectors that has become a critical factor for competitiveness in recent years and will likely become even more essential. The main determinants of competitiveness performance in the European Union (EU) were analyzed in the proposed research. The study included a holistic approach to competitiveness and economic growth and aimed to reveal the factors that determine and contribute to the growth of European economies, as well as to identify clusters of the EU countries. The criteria of competitiveness that are significant for estimation of competitiveness factors and their relationship with economic growth were revealed by using factor analysis. The results indicate that the most significant factors are F1 Macroeconomic Stability, F2 Research and Development (R&D) and Digitalization, F3 Foreign Direct Investment and F4 Trade Openness. By applying cluster analysis, the EU countries were grouped into five clusters on the basis of the contribution of competitiveness factors to economic growth.

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Section: Review Of the Related Literaturementioning

confidence: 94%

The Determinants and Effects of Competitiveness: The Role of Digitalization in the European Economies

et al. 2021

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“…Zagorseková et al (2018) measured the correlation between economic growth and competitiveness for countries in the European Union. The correlation did not turn out to be significant, possibly because of the faster growth of less developed economies within the EU, which are still in the process of redeploying more developed economies, but still do not achieve their competitiveness.…”

Section: Literature Reviewmentioning

confidence: 99%

The competitiveness of Portugal: views from the market

Silva,

Pereira,

Crespo Carvalho

et al. 2023

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Purpose This study aims to conduct a pertinent assessment of the concept of business competitiveness and how Portugal can progress in that field, for the sake of becoming a more sustainable and wealth-creator economy. Design/methodology/approach The research was elaborated with 65 in-depth interviews with expert persons from the Portuguese business ecosystem, who were asked to reflect on the state of the economy and competitiveness of the country. Findings There is much room for improvement in almost all areas of activity, in particular by promoting an innovative, value-adding and exporting private sector and a lighter and more efficient public sector. The conclusions point to modernisation of the Portuguese economy as a way of making it more competitive in a highly competitive and demanding global scenario. Originality/value To the best of the authors’ knowledge, it is the first time that a reflection with experts of the local Portuguese economy has been carried out, especially after a difficult period of COVID.

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“…Using neo-Schumpeterian literature, the author wants to illustrate the causal linkages between the growth of a National Innovation System, the variations in the income elasticity of imports and exports, an economy's competitiveness, and its external vulnerability. Zagoršeková et al (2018) focuses on competitiveness at the national level and the impact of competitiveness on economic growth at the European level and finds significant differences in competitiveness among the member states of the European Union, according to the index of global competitiveness, published by the World Economic Forum. In the examined sample, the positive relationship between the level of competitiveness and economic growth was not confirmed.…”

Section: Literature Reviewmentioning

confidence: 99%

Competitiveness—the engine that boosts economic growth and revives the economy

Virjan

Manole

Stanef-Puica

et al. 2023

Front. Environ. Sci.

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Competitiveness is a concept that shows up in all aspects of human life, both at the micro level, in personal, social, and professional life, and at the macro level, linked to organizational and national competitiveness with long-term effects on global competitiveness. In this paper, we aim to address competitiveness in Romania in the current context, before and after the COVID-19 pandemic, highlighting its role in reviving the economy. While until the onset of the pandemic Romania’s competitiveness performance was growing, more recently, because of the global health crisis, it dropped a few places, according to the Global Competitiveness Index report. In order to have a clear picture of the degree of competitiveness in Romania, we have presented a series of statistical data for the most relevant macroeconomic indicators for our study for the 2017–2022 timeframe: the global competitiveness index, the minimum wage, labor productivity, the evolution of real labor productivity per employed person, the economic growth rate, the unemployment rate, the inflation rate, the European innovation index, gross domestic expenditure on research and development, export of goods and services as a share of GDP, etc. The methodology used involves the use of quantitative techniques, performing an econometric analysis, and correlating how the most important macroeconomic indicators can influence the degree of competitiveness at both the national and international level. For the post-pandemic timeframe, the analysis switches focus, just as the economic reality did, looking at energy costs and energy use as determinants of competitiveness. Since notions like circular economy and sustainable development correlate being energy-efficient with being competitive, however, at the same time, the high cost of investments necessary for individual businesses and countries to switch from polluting energies to clean energies impedes or at the very least heavily impacts their ability to compete with entities that don’t make that same switch, it becomes apparent that the energy market impacts competitiveness metrics. Competitiveness promotes valuable contributors and underpins performance at group and company level, and the effects from the micro level will propagate, with an emission effect, to the entire national economy with obvious implications at the international level, through real growth in macroeconomic indicators, increased labor productivity, increased economic performance (market share, export share, return on capital), raising living standards and economic and social wellbeing (life expectancy index, human development index, poverty rate), education (skills, knowledge, abilities, managerial and marketing skills, corporate culture), competitive potential (innovation, R&D, promotion), and in raising the Global Competitiveness Index by focusing on factors of production, efficiency, and innovation, etc.

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Competitiveness and Economic Growth in the European Union

Cited by 5 publications

References 0 publications

The Determinants and Effects of Competitiveness: The Role of Digitalization in the European Economies

The Determinants and Effects of Competitiveness: The Role of Digitalization in the European Economies

The competitiveness of Portugal: views from the market

Competitiveness—the engine that boosts economic growth and revives the economy

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