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 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 Inovacijų vystymo prioritetai Ukrainos įmonėse

2014 ◽  
Vol 68 ◽  
pp. 7-22
Author(s):  
Olga Miroshnychenko
Keyword(s):  
Competitive Advantage ◽  
National Economy ◽  
Innovation Activity ◽  
Innovation Development ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Innovation Potential ◽  
Global Competitiveness Index ◽  
Key Aspects ◽  
The Eu

Straipsnyje pateikiama kategorijos „inovacija“ traktuotė ir apibūdinami inovacijų tipai. Inovacijos yra esminis veiksnys, lemiantis nacionalinės ekonomikos konkurencingumą, šiuolaikinių įmonių konkurencinį pranašumą. Straipsnis apima Ukrainos įmonių inovacinio potencialo tyrimo rezultatus, inovatyvios veiklos Ukrainoje rodiklius ir jų lyginamąją analizę su Europos Sąjungos šalimis; aptariama inovatyvių įmonių dalis, inovatyvių įmonių santykis pagal inovacijų tipus, inovacinės veiklos išlaidų struktūra. Pateikiamas Ukrainos reitingas pagal globalaus konkurencingumo indekso ir inovacijų indekso dedamąsias. Aptariami esminiai Ukrainos įmonių inovacijų vystymo aspektai. Priorities for innovation development of Ukrainian enterprisesOlga Miroshnychenko SummaryThe definitions of the category “innovation” and types of innovation are being considered in the article. Innovations are crucial for the competiveness of a national economy. Today, they are the main competitive advantage of modern enterprises. A research of the innovation potential of Ukrainian enterprises has been done. The paper includes indicators of innovation activity in Ukraine and their comparison with those of the EU member states: proportion of innovative enterprises, share of enterprises with adopted innovations by the type of innovation, expenditures on research and development. The international position of Ukraine by elements of the Global Competitiveness Index, the sub-index of innovation and its elements has been considered. The paper answers the question of the key aspects of innovation development of Ukrainian enterprises.Key words: innovations, innovation activity, innovation potential, enterprise, Ukraine

scholarly journals The influence of the ICT on the control of corruption in public administrations of the EU member states: a comparative analysis based on panel data

2021 ◽  
pp. 41-59
Author(s):  
Armenia ANDRONICEANU ◽  
Elvira NICA ◽  
Irina GEORGESCU ◽  
Oana Matilda SABIE
Keyword(s):  
Panel Data ◽  
Public Administration ◽  
Point Of View ◽  
Member States ◽  
Eu Member States ◽  
Relevant Variables ◽  
Information And Communication ◽  
The Impact ◽  
Control Of Corruption ◽  
The Eu

Developments in Information and Communication Technology (ICT) have led to major changes in public administration in all democratic states. The fact that information can be made public and accessible from anywhere, at any time, requires a new approach to the process of computerization of public administration. The objective of the research was to know the influence of ITC integration in the EU state administrations on corruption control in the period 2010 - 2019. We selected four relevant variables, which we integrated in a panel analysis including the 27 EU member states. Using STATA we made an econometric model on panel data and obtained interesting results from a scientific point of view. The results show that the integration of ICTs in the EU public administrations has significantly contribution to reducing corruption These results demonstrate the need to accelerate the digitization of administrations and create an integrated model of government cloud in the European administrative space. In addition, the results of the research highlight the differences between EU states in terms of the impact of ICTs on government efficiency and economic development.

The Impact of FDI Inflows and Outflows on Economic Growth: An Empirical Study of some Developed and Developing Countries

2019 ◽  
Vol 6 (1) ◽  
pp. 129-157
Author(s):  
Younis Ali Ahmed ◽  
Roshna Ramzi Ibrahim
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Fixed Effects ◽  
Positive Impact ◽  
Developed Countries ◽  
Fdi Inflows ◽  
Panel Data Estimation ◽  
The Impact ◽  
Data Estimation

FDI is an investment including a long-term relationship and reflecting a lasting interest and control of a resident entity in one economy. FDI is a combination of capital, technology, marketing and management. Based on the Neoclassical, Exogenous and modern theories FDI has a positive role in accelerating economic growth and development. Many countries are improving their economy in order to attract FDI.  The main objective of this study is to examine the impact of FDI inflows and outflows on economic growth of developed countries such as (USA, UK and France) and developing countries such as (Malaysia, Turkey and Iran) from (1980 to 2017). To accomplish that, ARDL approach and panel data estimation were used. The empirical findings reveal that the FDI inflows and outflows for developed countries (US and UK) have a positive impact on economic growth (GDP), while the FDI inflows of France have a negative impact. Nevertheless, FDI inflows and outflows for developing countries of (Malaysia, Turkey, and Iran) have a positive impact on economic growth. The result of panel data estimation shows that Fixed effects model is appropriate for estimating the parameters. In conclusion, Developing countries should diversify their FDI inflows and outflows to cover all the sectors and they should benefit from the developed countries’ experiences with higher impact of FDI on economic growth.

scholarly journals GROWTH AND OPENNESS RELATIONSHIP IN THE EU15: PANEL DATA ANALYSIS

Ekonomika ◽  
2010 ◽  
Vol 89 (2) ◽  
pp. 44-54 ◽  
Author(s):  
Erginbay Uğurlu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Time Series Data ◽  
Negative Impact ◽  
Panel Data Analysis ◽  
Empirical Work ◽  
Series Data ◽  
The Impact ◽  
The Eu

Conventional wisdom suggests that openness of an economy promotes economic growth. There is still argument among economists concerning how a country’s macroeconomic variables and its economic growth interact in numerous econometric studies by using panel data. This paper examines the impact of openness on economic growth for the EU-15 area in 1996–2003. In our empirical work, we have used the panel data technique which is also called longitudinal data or cross-sectional time series data. Panel data is generally concerned with choosing among three alternative regressions that are named fixed effects, random effects and pooled model estimation. The variables used are growth, openness, price level, investment and government share of RGDP. We find that openness has had a weak but negative impact on economic growth in this region over this period. Also, we have found that an increase in investment and a decrease in government expenditure have supported economic growth in the EU-15 countries.

scholarly journals RESEARCH ON THE POSSIBILITY OF INNOVATIVE INTEGRATION OF UKRAINE AND THE EU

Management ◽  
2020 ◽  
Vol 30 (2) ◽  
pp. 128-136
Author(s):  
Valeriia G. Shcherbak
Keyword(s):  
World Intellectual Property Organization ◽  
Innovative Development ◽  
Member States ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Global Innovation ◽  
The World ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
The Eu

Introduction. The revitalization of innovation in the global dimension has a significant impact on the competitiveness of the national economy. The intensification of innovation processes requires the use of innovative strategies. There is a significant differentiation of countries in terms of competitiveness and innovative development. At the present stage of reforming, the development of the economy on an innovative basis becomes one of the priorities of strengthening the competitiveness, modernization of the institutional base and effective use of the innovative potential of innovative integration of Ukraine and the EU.Hypothesis of scientific research. It is envisaged that the use of strategic priorities and mechanisms for utilizing Ukraine's innovation potential through the implementation of European practices of managing targeted innovation programs will allow developing programmatic measures to strengthen the existing and modernize the competitive advantages of innovative integration of Ukraine and the EU.The purpose of the article is setting priorities and developing a system of means of enhancing Ukraine's competitiveness on innovative grounds in the context of European integration.The research methodologyis the use of the European Innovation Scoreboard, the Innovation Index of the EU Member States. In the course of the study, the methods of systematization and taxonomy were used.Results: the position of Ukraine in the global and innovation ratings, the EU innovation scoreboard, the place of Ukraine in it, the position of Ukraine in the ranking of the countries of the world according to the Global Competitiveness Index, the Global Competitiveness Index. The analysis of differences in the development and implementation of innovative development strategies of EU Member States and Ukraine is conducted, the organizational and economic toolkit of innovative integration of Ukraine and the EU is substantiated.Conclusions: proved that macro-level competitiveness research in an innovative context is based on the methodology of calculation of such indicators as: IMD and WEF global competitiveness indices; global innovation development indices from Boston Consulting groupe and INSEAD; Eurostat European Innovation Rating (EIS); Bloomberg Agency Global Innovation Ratio (GIQ); international innovation index; composite eco-innovation index; the patent activity rating of the World Intellectual Property Organization (WIPO) allows you to find out the main directions of innovative integration of Ukraine and the EU.

scholarly journals Institutional Quality and its Impact on FDI Inflow: Evidence from the EU Member States

2021 ◽  
Vol 24 (4) ◽  
pp. 23-44
Author(s):  
Bogusława Dobrowolska ◽  
Tomasz Dorożyński ◽  
Anetta Kuna‑Marszałek
Keyword(s):  
Direct Investment ◽  
Institutional Quality ◽  
Member States ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Global Competitiveness Index ◽  
The Relationship ◽  
The Eu ◽  
Diagnostic Variables

The aim of the article is to assess institutional quality in 28 EU Member States and to examine the relationship between the quality of institutions and FDI inward stock as % of GDP. This study is structured as follows. Firstly, we reviewed studies dedicated to the relationship between institutional quality and investment attractiveness. Then, we discussed FDI inflow into the EU countries and selected diagnostic variables that later served as the basis for our research in which we used categories of the Global Competitiveness Index. Based on rankings and using statistical methods, in the next stage, we divided the EU Member States into groups representing similar institutional quality. Then we investigated the relationships between groups of countries similar to one another when it comes to institutional quality and groups of countries ranked in ascending order by the value of foreign direct investment inflow measured as FDI inward stock as % of GDP. The study demonstrated that the EU Member States differ with respect to institutional quality. The results of the statistical analysis have provided grounds to positively verify the hypothesis about a positive relationship between the level of institutional quality and investment attractiveness.

scholarly journals Foreign Direct Investment Dynamics in Hungary

2018 ◽  
Vol 9 (6) ◽  
pp. 122-131
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Economic Growth ◽  
Trade Openness ◽  
Developed Countries ◽  
Economic Transformation ◽  
Empirical Literature ◽  
Fdi Inflows ◽  
The Impact ◽  
The Eu ◽  
Education And Economic Growth ◽  
Determinants Of Fdi

 The study discussed the dynamics of FDI in Hungary during the period from 1991 to 2015. The impact of FDI, FDI trends and determinants of FDI in Hungary were discussed. Empirical literature observed that FDI positively influenced economic growth in Hungary through boosting human capital development levels, total factor productivity, economic transformation, innovation, research and development, additional capital in the economy, modern technology, increased volume of additional capital and technology transfer. The study also revealed that most of the net FDI inflow into Hungary originated from developed countries and the least FDI net inflow came from transitional economies during the period under study. The general trend of FDI net inflow into Hungary followed a mixed pattern, with some years experiencing a positive net FDI inflow whilst other years were characterised by negative net FDI inflows. What is clear however is that FDI net inflow was consistently positive and experienced a positive growth following the integration of Hungary into the EU bloc of countries? The accession of Hungary into the EU removed barriers for the movement of capital, people, goods and services within the EU, reduced the cost of doing business and improved trade openness. These are the key locational advantages of FDI which improved FDI inflow into Hungary for a sustained period of time after the EU accession. The study also empirically tested the determinants of FDI in Hungary using the OLS multiple regression model with data ranging from 1991 to 2015. In contradiction to most previous studies on the subject matter, trade openness and financial development were found to have had a negative influence on FDI. The study also observed that inflation had a positive influence on FDI, contrary to Sayek (2009) who revealed that higher inflation levels erodes the foreign investors’ profits, thereby making the host country not an attractive investment destination. However, exchange rate, education and economic growth had a positive but non-significant impact on FDI in Hungary, consistent to both theoretical and empirical literature. The implication of the study is that the Hungarian authorities are urged to design and implement policies aimed at improving education and economic growth in order to attract more FDI. Practical steps need to be taken by the Hungarian authorities in making sure that the value of the local currency is not overvalued and that trade openness is controlled and managed so that it does not reach a point where it begins to negatively affect FDI inflows. 

scholarly journals Homogeneity of Determinants in the Financial Sector and Investment in EU Countries

Economies ◽  
2020 ◽  
Vol 8 (1) ◽  
pp. 14
Author(s):  
Erika Urbankova ◽  
David Krizek
Keyword(s):  
Financial Markets ◽  
Statistical Method ◽  
Financial Sector ◽  
Developed Countries ◽  
Investment Activity ◽  
Eu Countries ◽  
Eu Member States ◽  
The Individual ◽  
The Impact ◽  
The Eu

This paper evaluates the homogeneity of the financial markets in European Union (EU) countries and the impact of determinants of the financial sector in individual EU countries on the investment by economic entities in the given countries. The objective of the paper is to evaluate the homogeneity of financial sectors in EU countries in terms of individual indicators. The paper also evaluates the interdependence between the loan amount (debt and liabilities of the financial sector) on one side and the selected investments on the other. This paper uses the statistical method of correlation analysis to determine the strength and closeness of dependence among indicators, and the multidimensional statistical method of cluster analysis to determine the homogeneity among the individual countries. The results show that, in terms of financial markets, there is still a difference between developed countries in terms of Gross Domestic Product and the rest of the EU Member States. However, in the case of investment activity that is no longer. Partial integration therefore takes place within the EU, in terms of financial markets.

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