scholarly journals Analysis of the Impact of Macroeconomic Stability on the Level of Global Competitiveness of Western Balkan Countries

2021 ◽  
Vol 10 (2) ◽  
pp. 23-37
Author(s):  
Nikola Milović ◽  
Mijat Jocović ◽  
Nikola Martinović
Keyword(s):  
Strong Impact ◽  
Group Company ◽  
Global Competitiveness ◽  
Complex Concept ◽  
Balkan Countries ◽  
Research Findings ◽  
Global Competitiveness Index ◽  
National Economies ◽  
The Impact ◽  
Macroeconomic Stability

Abstract Competitiveness, as a complex concept, can be observed in different ways, from the perspective of an individual, group, company and/or state. The subject of this paper deals with competitiveness of national economies observed through factor analysis, with a particular focus on the level of macroeconomic stability. Through the application of the Analytical-Hierarchical Process (AHP) method, special attention has been paid to the comparative ranking of Western Balkan countries. The ranking has been made in relation to macroeconomic stability and the positions of countries in the ranking of the World Economic Forum, based on the Global Competitiveness Index, for three defined periods of time. The paper identifies key factors that affect the competitiveness of Western Balkan countries. Research findings show that macroeconomic stability has a strong impact on the level of global competitiveness of national economies.

scholarly journals THE ROLE OF TECHNOLOGICAL READINESS IN THE GLOBAL COMPETITIVENESS OF SERBIAN ECONOMY

2018 ◽  
pp. 111 ◽  
Author(s):  
Vladimir Radivojević ◽  
Bojan Krstić ◽  
Tanja Stanišić
Keyword(s):  
Business Environment ◽  
Policy Makers ◽  
Substantial Impact ◽  
Global Competitiveness ◽  
Technological Readiness ◽  
Balkan Countries ◽  
World Economic ◽  
National Economies ◽  
Further Development

Technological readiness is an important determinant of the economic and social development in recent decades. Therefore, technological readiness has a substantial impact on the global competitiveness of national economies in the contemporary business environment. The purpose of this paper is to evaluate the level of Serbian economy competitiveness in terms of technological readiness and to identify the critical factors for its further development. The analysis is based on the data published by World Economic Forum in annual The Global Competitiveness Reports in the period from 2013 to 2017. The research is conducted through comparative analysis and benchmarking method. The results show significant deviations and negative trend of technological readiness of Serbia in comparison not only with European countries but even with Balkan countries. The conclusions of this research may serve as the directions for technological readiness policy makers in Serbia and other Balkan countries.

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

2019 ◽  
Vol 11 (12) ◽  
pp. 3365 ◽  
Author(s):  
Dana Kiseľáková ◽  
Beáta Šofranková ◽  
Miroslav Gombár ◽  
Veronika Čabinová ◽  
Erika Onuferová
Keyword(s):  
Human Resources ◽  
Human Development ◽  
Research Problem ◽  
Business Environment ◽  
Sustainable Growth ◽  
Panel Analysis ◽  
Global Competitiveness ◽  
Global Competitiveness Index ◽  
The Impact ◽  
The Eu

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.

Competitiveness and Economic Growth in the European Union

2018 ◽  
Vol 8 (8) ◽  
pp. 2408
Author(s):  
Natália ZAGORŠEKOVÁ ◽  
Michaela ČIEFOVÁ ◽  
Andrea ČAMBALÍKOVÁ
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Union Member ◽  
National Level ◽  
The European Union ◽  
Member States ◽  
Global Competitiveness ◽  
Global Competitiveness Index ◽  
The Impact ◽  
European Union Member States

The paper focuses on competitiveness at the national level and on the impact of competitiveness on economic growth. We look at the relationship between competitiveness and economic growth based on the data from the European Union member states. The competitiveness of the economies is measured by the Global Competitiveness Index, which is published by the World Economic Forum. The European Union member states show significant differences in competitiveness. In the sample examined, the positive relationship between the level of competitiveness and economic growth was not confirmed.

scholarly journals Improving the competitiveness of post-Soviet integrated national economies

2021 ◽  
pp. 71-81
Author(s):  
Valerii Leonidovich Abramov ◽  
Natalya Vladimirovna Lapenkova
Keyword(s):  
Regional Integration ◽  
International Competitiveness ◽  
Innovation Activity ◽  
Member States ◽  
Global Competitiveness ◽  
Goods And Services ◽  
Soviet Space ◽  
National Economies ◽  
The Impact ◽  
Post Soviet Space

The subject of this research is the international competitiveness of post-Soviet national economies, within the framework of a new integration association in the post-Soviet space – the Eurasian Economic Union (EAEU). In the context of studying the competitiveness of the member-states of international regional integration associations, the authors analyze and conditionally divide the scientific and theoretical reserve of Russian and foreign scholars into several key vectors of research. The article formulates the approaches towards assessing the impact of integration processes upon the competitiveness of national economies of the EAEU member-states. For the analysis of competitiveness of the participant countries in the integration alliance, the authors applied the methodology of the Global Competitiveness Index of the World Economic Forum. The competitiveness of participant countries of the alliance was examined in accordance with the eight main criteria: the effectiveness of state institutions, infrastructure, the level of macroeconomic stability, development of financial markets, effectiveness of goods and services market, effectiveness of the job market, development of human capital, and assessment of innovation activity. The conclusion is made that all the countries participating in post-Soviet integration association indicate positive dynamics in their international competitiveness, although its level differs considerably. The approach towards assessing the impact of integration upon the competitiveness is formulated. It is noted that the achievement of higher level of competitiveness is impeded by macroeconomic instability of the national economies of post-Soviet space. Recommendations are given in the formation of their competitive advantages within the framework of the integration union.

scholarly journals Improving the competitiveness of post-Soviet integrated national economies

2020 ◽  
pp. 71-81
Author(s):  
Valerii Leonidovich Abramov ◽  
Natalya Vladimirovna Lapenkova
Keyword(s):  
Regional Integration ◽  
International Competitiveness ◽  
Innovation Activity ◽  
Member States ◽  
Global Competitiveness ◽  
Goods And Services ◽  
Soviet Space ◽  
National Economies ◽  
The Impact ◽  
Post Soviet Space

The subject of this research is the international competitiveness of post-Soviet national economies, within the framework of a new integration association in the post-Soviet space – the Eurasian Economic Union (EAEU). In the context of studying the competitiveness of the member-states of international regional integration associations, the authors analyze and conditionally divide the scientific and theoretical reserve of Russian and foreign scholars into several key vectors of research. The article formulates the approaches towards assessing the impact of integration processes upon the competitiveness of national economies of the EAEU member-states. For the analysis of competitiveness of the participant countries in the integration alliance, the authors applied the methodology of the Global Competitiveness Index of the World Economic Forum. The competitiveness of participant countries of the alliance was examined in accordance with the eight main criteria: the effectiveness of state institutions, infrastructure, the level of macroeconomic stability, development of financial markets, effectiveness of goods and services market, effectiveness of the job market, development of human capital, and assessment of innovation activity. The conclusion is made that all the countries participating in post-Soviet integration association indicate positive dynamics in their international competitiveness, although its level differs considerably. The approach towards assessing the impact of integration upon the competitiveness is formulated. It is noted that the achievement of higher level of competitiveness is impeded by macroeconomic instability of the national economies of post-Soviet space. Recommendations are given in the formation of their competitive advantages within the framework of the integration union.

scholarly journals Exchange rate problems as an indicator of problems in governing the national economy

2017 ◽  
Vol 3 (2) ◽  
pp. 17-29
Author(s):  
Bohdan Ilychok ◽  
Vitali Gumenyuk ◽  
Zhanna Poplavska ◽  
Halyna Pushak
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Economic Factors ◽  
Current Position ◽  
Global Competitiveness ◽  
The Past ◽  
Global Competitiveness Index ◽  
Main Factors ◽  
The Impact ◽  
Negative Factors

The article focuses on improvements and related issues in the implementation of Ukrainian monetary policy. Over the past 20 years the Ukrainian government has conducted monetary policy that flouts generally accepted international goals. The article also presents an overview of the main economic factors that exert an influence on the exchange rate – inflation and the state of the account surplus of goods payment balance, which is determined by the competitiveness of the economy. The index of global competitiveness is used as an indicator of the national economy’s competitiveness, while the country’s current position and dynamics under the global competitiveness index (GCI) are examined. The article details the main factors that have led the country’s position to fall, including the fact that the problems are systemic and result from corruption. The impact of the negative factors can be minimized in Ukraine, and monetary policy improved.

scholarly journals Is Global Competitiveness Speeding Up the Growth in the EU? A Panel Data Analyis

2018 ◽  
Vol 28 (4) ◽  
pp. 1-23 ◽  
Author(s):  
Olimpia Neagu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Developed Countries ◽  
Time Span ◽  
Central European ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Global Competitiveness Index ◽  
The Impact ◽  
The Eu

Abstract The paper documents the impact of global competitiveness on economic growth in the EU Member States. In a panel data approach, for a time span of 10 years (2008- 2017), a validated influence of Global Competitiveness Index on annual rate of GDP in the EU countries was found. The impact is higher in the group of Eastern and Central European countries (ECE) than in the Western European (well developed) countries, as well as at European economy level.

scholarly journals THE PROBLEMS AND POSSIBILITIES OF INCREASING THE COMPETETIVE ADVANTAGE OF NATIONAL ECONOMY: A CASE OF LABOUR PRODUCTIVITY / ŠALIES ŪKIO KONKURENCINIO PRANAŠUMO DIDINIMO PROBLEMOS IR GALIMYBĖS: DARBO PRODUKTYVUMO ATVEJIS

2011 ◽  
Vol 3 (4) ◽  
pp. 35-42 ◽  
Author(s):  
Alma Mačiulytė-Šniukienė ◽  
Narimantas Kazimieras Paliulis
Keyword(s):  
Technological Development ◽  
Labour Productivity ◽  
Intangible Capital ◽  
World Economic Forum ◽  
Global Competitiveness ◽  
National Competitiveness ◽  
World Economic ◽  
Global Competitiveness Index ◽  
The Impact ◽  
Productivity And Competitiveness

The article reveals a conception of national competitiveness and identifies the impact of the World Economic Forum on the Global Competitiveness Index (GCI). The paper discusses theoretical points and identifies factors determing changes in labour productivity. Also, the analysis of changes in labour productivity in Lithuania (2000–2009) have been performed discovering the causes of a decline in labour productivity in 2009. The article studies the impact of research and technological development (R&D) expenses, wages, direct foreign investments, tangible and intangible capital on labour productivity. The conclusion draws that an increase in investments in the research and development of the business sector is one of the ways to increase labour productivity and competitiveness in Lithuania. Santrauka Straipsnyje atskleista nacionalinio konkurencingumo samprata, nustatyta darbo produktyvumo įtaka „Pasaulio ekonomikos forumo“ skaičiuojamam Pasaulio konkurencingumo indeksui (PKI). Aptarti teoriniai darbo produktyvumo klausimai, nustatyti veiksniai, galintys nulemti darbo produktyvumo pokyčius. Taip pat atlikta Lietuvos darbo produktyvumo pokyčių 2000–2009 m. analizė, nustatytos darbo produktyvumo sumažėjimo 2009 m. priežastys. Ištirta išlaidų moksliniams tyrimams ir technologijų plėtrai (MTTP), darbo užmokesčio, tiesioginių užsienio investicijų, materialaus ir nematerialaus kapitalo įtaka darbo produktyvumui. Prieita prie išvados, kad vienas iš būdų kelti Lietuvos darbo produktyvumą, o drauge ir konkurencingumą – didinti investicijas į MTTP verslo sektorių.

The Effects of Globalization on the CIS and Eurasia

2018 ◽  
pp. 19-47 ◽  
Author(s):  
Bryan Christiansen
Keyword(s):  
Global Scale ◽  
Long Term Effects ◽  
Global Competitiveness ◽  
The World ◽  
World Economic ◽  
Global Competitiveness Index ◽  
Marginal Improvement ◽  
National Economies ◽  
The International Monetary Fund

Globalization today is basically accepted as the process which dismisses geographical boundaries and enables the economic integration and interdependence of national economies into the international economy through trade, foreign direct investment (FDI), migration, and capital flows. Each year the World Economic Forum (WEF) ranks 144 countries in terms of a global competitiveness index (GCI) which captures the fundamentals of an economy on a scale that ranges from 1 to 7. The GCI uses statistical data such as government debt and life expectancy obtained from a variety of internationally recognized agencies such as the International Monetary Fund (IMF) and the World Bank to rank nations in terms of ability to compete on a global scale. The most recent GCI ranking for the current 11 states of the CIS show a declining or only marginal improvement over previous years with the exceptions of Ajerbaijan and the Russian Federation. This chapter examines the long-term effects contemporary globalization currently has on the region and provides some recommendations for future use.

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