Innovation and Competitiveness in the European Union Countries

Marčeta, Milja; Bojnec, Štefan

doi:10.1504/ijse.2021.10034983

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“…A country heavily integrated into world markets is more exposed to shocks from abroad. Mar ceta and Bojnec (2021) noted that an essential task for the EU-28 countries is increasing the cohesion of their economies, trade openness and pursuing higher levels of competitiveness and economic growth.…”

Section: Europeanmentioning

confidence: 99%

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Trade openness, global competitiveness, and catching up between the European Union countries

Marčeta

Bojnec

2022

RIBS

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Purpose This study aims to establish the position of the European Union (EU-28) countries in the dynamics of international trade openness linkages and the Global Competitiveness Index (GCI) in correlation with the gross domestic product (GDP) per capita, research and development (R&D) expenditures, innovation capability and information and communication technology (ICT) adoption. Design/methodology/approach In the panel data set, comparative analyses were applied to scatter diagrams, correlation and regression analyses and structural equation models using Eurostat and World Economic Forum (WEF) data for the EU-28 countries in the period 2008–2019. Findings The empirical results did not confirm the hypotheses that a positive correlation exists between GCI and trade openness indicators and between GDP per capita and GCI. The ICT adoption and innovation capability increase GCI, which affects GDP per capita. Practical implications The empirical results provide a better understanding of the importance of trade policies, particularly in terms of trade openness and trade shares of the EU-28 countries, as it could contribute to increasing the GCI of the EU-28 countries. Furthermore, the results of this study underline the importance of ICT adoption and innovation capability and the need for appropriate government policies that improve global competitiveness. Originality/value This study, through empirical analysis, demonstrates the existence of correlations between trade openness (exports as % of GDP, imports as % of GDP and export market shares as % of world trade), R&D expenditures, innovation capability, ICT adoption, GDP per capita and the GCI in the EU-28 countries. In addition, this study contributes managerial and policy-based implications on driving forces of global competitiveness.

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Section: Europeanmentioning

confidence: 99%

“…Increasing global and macro-regional linkages at the EU level allows exports to become more intensive and competitive globally. Global competitiveness varies widely across the EU-28 countries (Mar ceta and Bojnec, 2020Bojnec, , 2021Bojnec, , 2022.…”

Section: Introductionmentioning

confidence: 99%

Trade openness, global competitiveness, and catching up between the European Union countries

Marčeta

Bojnec

2022

RIBS

View full text Add to dashboard Cite

show abstract

Innovation and Competitiveness in the European Union Countries

Cited by 1 publication

References 0 publications

Trade openness, global competitiveness, and catching up between the European Union countries

Trade openness, global competitiveness, and catching up between the European Union countries

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