ESC
Web of Science
Entrepreneurship and Sustainability Issues Open Access Q1
Scopus - coverage starting with 2017 material
Received: 2017-08-25  |  Accepted: 2018-01-10  |  Published: 2018-03-30

Title

Competitiveness and sustainable growth analysis of the EU countries with the use of Global Indexes' methodology


Abstract

The issue of countries' competitiveness and sustainable economic growth is constantly at the centre of interest and represents the frequent object of research in economic theory as well as economic practice. The multi-criterial approach and the assessment methodologies relating to the global competitiveness have been dynamically adjusted over the recent years to reflect the current globalization trends in the world economy. The main objective of this study is to analyse the objectivity and resulting values' deviations of the Global competitiveness Index (GCI) and World Competitiveness Index (WCI) composite indexes that are currently considered to be the world's most respected and to identify the impact of key factors that affect the countries' competitive positions with a focus on Slovakia. The research study is realized within the group of EU (24) countries for the period 2006 – 2016. The partial objective is to summarize the main starting points of the World Economic Forum (WEF) and Institute for Management Development (IMD) composing these indices, to identify their common features and different approaches that create differences in the results achieved. Then we analyzed the differences between the resulting rankings and the resulting scores of the GCI and WCI rated countries. In the next part, we focused on analyzing the position of Slovakia using the correlation and multiple regression analysis and identifying the interrelationships between individual pillars and the GCI score in order to determine the impact of key factors that influence the competitive position and sustainable growth of Slovakia and improve or worsen its position. Our results highlighted the economic and statistical context of GCI Slovakia development and the impact of the following key pillars and key factors: pillar P1 (P1: Institutions – Public trust in politicians), pillar P3 (P3: Macroeconomic environment – Government debt) and pillar P11 (P11: Business sophistication – Nature of competitive advantage). All three pillars, identified as crucial to the development of the overall Slovakias' GCI scores, occupy unflattering positions in the comparison of pillar rankings. Therefore, we conclude that it is necessary to clarify the causes of their development and eliminate these identified factors as soon as possible. The results can be seen as beneficial to countries' economic policies in increasing global competitiveness.


Keywords

competitiveness, global indexes, multi-criterial approach, key pillars, key factors, regression analysis, regression model


JEL classifications

O11 , O57 , F43 , F62 , F63


URI

http://jssidoi.org/jesi/article/169


DOI


HAL


Pages

581-599


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Kiseľáková, Dana
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Šofranková, Beáta
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Čabinová, Veronika
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Onuferová, Erika
University of Prešov, Prešov, Slovakia http://www.unipo.sk
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

5


Number

3


Issue date

March 2018


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 819  |  PDF downloads: 496

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