scholarly journals IS THE GLOBAL COMPETITIVENESS INDEX INFORMATIVE?

2016 ◽  
Vol 4 ◽  
pp. 132-141 ◽  
Author(s):  
Menbere Workie ◽  
Edita Hekelová
Keyword(s):  
The European Union ◽  
Reverse Causality ◽  
Member States ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Advanced Economies ◽  
World Economic ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
Positive Effect

This paper critically discusses whether, and to what extent, the Global Competitiveness Index (GCI) compiled by the World Economic Forum is informative, given the cross-positive effect across indicators that involve ranking of countries. The results suggest positive cross-effects between sub-indices for a group of economies in the European Union (EU) and other certain advanced economies. Economies with an advanced level of higher education and training, and a superior level of innovation, tend to experience a higher level of ranking in the global competitiveness index compared to countries with lower levels of education and innovation. The results of this study for a group of 28 EU member states during 2007-2015 reveal a heterogonous position of the EU member states despite their obvious achievement of converging income-per-capita in the same period. However, the results also indicate potential methodological inconsistencies in terms of the ranking of countries, relating to a common problem in economics, known as endogeneity or reverse causality, and based on variables that, statistically, appeared significantly correlated to each other.

scholarly journals GLOBAL COMPETITIVENESS OF THE EUROPEAN UNION MEMBER STATES: EVOLUTION AND PERSPECTIVES

2015 ◽  
Author(s):  
Mihaela Brindusa Tudose ◽  
Valentina Diana Rusu
Keyword(s):  
European Union ◽  
Union Member ◽  
Negative Impact ◽  
Favorable Effect ◽  
The European Union ◽  
Member States ◽  
Global Competitiveness ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
European Union Member States

Our paper is analyzing the theoretical and empirical research in the field of competitiveness and it presents the methodology of determining the global competitiveness index. Also, our paper is analyzing the evolution of the global competitiveness index in the Member States of the European Union, in the last years. The results obtained show that more than half of European Union Member States recorded an increase in the global competitiveness index on the account of the basic influence factors. With the exception of six countries (Bulgaria, Cyprus, Croatia, France, Italy, Malta), the European Union countries show a favorable influence of the efficiency on the index of global competitiveness. The highest contribution of the efficiency on the increase of global competitiveness is recorded in Portugal, Romania, Latvia, Lithuania and Bulgaria; on the opposite side is Malta, Cyprus and Germany. Regarding the influence of innovation, only three countries have recorded a negative impact of the innovation on the global competitiveness index: Finland, Spain and Austria. On the other hand Romania, Cyprus and Portugal show the highest favorable effect of innovation on the competitiveness.

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.

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 Macroeconomic stability and the level of competitiveness in EU member states: a comparative dynamic approach

2020 ◽  
Vol 11 (4) ◽  
pp. 657-688
Author(s):  
Elżbieta Roszko-Wójtowicz ◽  
Maria M. Grzelak
Keyword(s):  
Positive Impact ◽  
Value Added ◽  
Linear Ordering ◽  
The European Union ◽  
Member States ◽  
Eu Member States ◽  
Competitiveness Index ◽  
Polish Economy ◽  
The Eu ◽  
Diagnostic Variables

Research background: The choice of the issue of international competitive-ness of economies as the research problem addressed in this paper has been mainly dictated by the changes observed in the nature of the development of EU economies and the need to assess the competitiveness of the Polish economy. It is time to evaluate and learn from the largest enlargement in the history of the EU which took place in May 2004. An assessment of changes in the state of EU economies, including the Polish economy, is in the centre of research interest of many scientists. National competitiveness is the subject of a great deal of research and economic studies. Integration and globalisation processes in the world economy are the main reasons for the popularity of this topic. The efficient use of sources and factors determining the competitiveness of economies, sectors and enterprises is associated with prosperity over the long term. One of the methods based on the observation of selected basic indicators of economic competitiveness is the method of analysis called the macroeconomic stabilisation pentagon. The method illustrates the extent to which the government achieves five macroeconomic objectives. It is very difficult, if not impossible, to meet all these objectives at the same time. The difficulty of meeting all these goals concurrently is due to the fact that they are more or less competitive rather than complementary. The proposed assessment of competitiveness based on the developed model of macroeconomic stabilisation pentagon is a unique approach in terms of discussion of country?s competitiveness. This approach significantly distinguishes the current study in comparison with standard international reports on competitiveness such as the Global Competitiveness Index or the EU Regional Competitiveness Index. Purpose of the article: The main aim of the paper is to assess the competitiveness of EU economies in the years 2005?2018, based on a selected set of diagnostic variables referring to the concept of macroeconomic stabilisation pentagon. The paper also formulates a detailed list of four research hypotheses. Methods: In order to characterise the competitiveness of the European Union economies, including the EU?15 and EU?13 groups, as well as the Visegrad group, six diagnostic variables affecting the economic situation of individual EU countries were analysed. The variables for analysis were chosen so as to reliably describe the competitive position of a given country, at the same time referring in a substantive sense to the concept of macroeconomic stabilisation pentagon. The linear ordering of objects was made using the reference Hellwig method. The selected method enabled the development of competitiveness rankings of EU Member States in the years 2005, 2009, and 2018. Findings & Value added: The comparative analysis of the main macroeconomic indicators conducted in the paper forms the basis for assessing the cur-rent state of the EU economy in relation to other countries. In the paper, the authors depart from the standard elaboration of ?magic pentagon.? Instead, they apply the variables used in the macroeconomic stabilisation pentagon analysis to develop competitiveness rankings of EU Member States. The con-ducted empirical study has confirmed that the 15th anniversary of EU member-ship had a decidedly positive impact on the level of economic development of the EU?13 countries.

scholarly journals Role and importance of companies in shaping and functioning of the innovation system

2021 ◽  
Author(s):  
Zijada Rahimić
Keyword(s):  
Knowledge Economy ◽  
Innovation System ◽  
The European Union ◽  
Western Balkans ◽  
Global Competitiveness ◽  
Eu Member States ◽  
Global Innovation ◽  
Innovative Capabilities ◽  
Competitiveness Index ◽  
The Relationship

By continuously strengthening research and development (R&D) activities and innovative capabilities, companies are achieving long-term sustainable competitive advantages in today’s increasingly complex and uncertain markets. At the same time, by creating new knowledge, innovative application of existing knowledge and technologies, and facilitating their transfer, they contribute to building a knowledge economy and the country’s competitiveness. One of the pillars of the knowledge economy is an effective innovation system, in which companies have a special place and role. The aim of this paper is to present and analyse the contribution of companies to the efficient functioning of innovation systems, to examine the relationship and impact of innovation and R&D expenditures on global competitiveness. The Global Innovation Index (GII) and the Global Competitiveness Index (GCI), in which innovation and sophistication represent one of the three categories of competitiveness, were used as a methodological framework for analysing the effects of innovation capabilities. The focus of the analysis was the relationship between innovation inputs and innovation outputs, as well as the relationship between the GII and GCI of Bosnia and Herzegovina, the countries of the Western Balkans and the group of selected countries of the European Union (EU). The research results show that there is a statistically significant relationship between innovation inputs and outputs. There are obvious differences in the strength of the link between the variables of innovation and competitiveness for the countries of the Western Balkans and for selected EU member states. It was also found that R&D expenditures significantly affect the value of the competitiveness index.

From Redistributing Wealth to Creating Prosperity in the Russian Federation: Findings from the Global Competitiveness Index (The Russia Competiveness Report 2011. Ch. 1.1 / World Economic Forum, Eurasia Comtetiveness Institute)

2011 ◽  
pp. 4-40
Author(s):  
M. Drzeniek-Hanouz ◽  
A. Prazdnichnykh
Keyword(s):  
Russian Federation ◽  
World Economic Forum ◽  
Global Competitiveness ◽  
The World ◽  
World Economic ◽  
Global Competitiveness Index ◽  
The Russian Federation ◽  
Competitiveness Index

The journal version of Chapter 1.1 of "The Russia Competitiveness Report 2011: Laying the Foundation for Sustainable Prosperity" prepared by the World Economic Forum and Eurasia Competitiveness Institute analyzes major problems Russia is faced with in this field. Three advantages and five systemic weaknesses of the country are considered. The analysis on the basis of the Global Competitiveness Index shows that real improvements along these five directions could lead to significant increase in competitiveness and growth of welfare in Russia.

scholarly journals DOES THE GLOBAL COMPETITIVENESS INDEX DEMONSTRATE THE RESILIENCE OF COUNTRIES TO ECONOMIC CRISES?

Ekonomika ◽  
2017 ◽  
Vol 95 (3) ◽  
pp. 28-36 ◽  
Author(s):  
Vaiva Petrylė
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
Living Standards ◽  
Gdp Growth ◽  
World Economic Forum ◽  
Global Competitiveness ◽  
World Economic ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
Sustainable Economic Growth

The concept of a country’s competitiveness still does not have a clear and straightforward meaning and remains ambiguous. Different economists stress various aspects of the concept and use a number of different methods to evaluate how competitive a country is. This paper focuses on the Global Competitiveness Index, which is calculated by the World Economic Forum and is one of the most well-known measures of competitiveness. The World Economic Forum (2015) defines the competitiveness of a country as a “set of institutions, policies and factors that determine the level of productivity of a country” and argues that productivity “is the main long-run engine for growth, living standards and prosperity”. The definition suggests that a higher competitiveness ranking shows higher productivity of the country’s economy, which should lead to higher and more sustainable economic growth. In addition, economic growth leads to higher living standards and prosperity of the country’s citizens. In the light of the definition, the paper forms the hypothesis that if a country is ranked to be more competitive (i.e., its Global Competitiveness Index is higher), it should have greater resilience to an economic crisis than less competitive countries. In other words, more competitive countries should have higher and more sustainable economic growth rates than the less competitive countries. In order to check this hypothesis, the paper uses the graphical analysis method and examines the relationship between the Global Competitiveness Index and the economic growth of countries during the period of 2006-2015. The research findings show that there is a weak or no relationship between the Global Competitiveness Index and the GDP growth of countries; however, it is a negative relationship between the Global Competitiveness Index and the standard deviation of the country’s GDP growth. The results argue that the Global Competitiveness Index is not capable of forecasting the future GDP growth rates of a country; however, the Global Competitiveness Index indicates if the country avoids sharp fluctuations in its GDP growth rates and maintains sustainable economic growth throughout the period.

RESEARCH ON CHANGES IN THE GLOBAL COMPETITIVENESS LATVIA IN 2009-2019

2019 ◽  
Vol 6 ◽  
pp. 555
Author(s):  
Jeļena Volkova ◽  
Ēvalds Višķers
Keyword(s):  
Positive Impact ◽  
World Economic Forum ◽  
Baltic States ◽  
Global Competitiveness ◽  
National Economic ◽  
The Status ◽  
World Economic ◽  
Global Competitiveness Index ◽  
Competitiveness Index ◽  
The Baltic

In the era of globalization the term competitiveness has become of essential importance. Each country is showing its interest in it because the results of national economic processes depend on its successful alignment with the international market. The aim of this research is to define the changes in the Latvia’s Competitiveness Index in comparison with the Baltic States during the period 2009-2019. To achieve this aim the following methodology was used: scientific inductive and deductive methods,the monographic and the data based method. The research is based on the results of the assessement of the „Global Competitiveness Index”introduced by the World Economic Forum. Regardless of the methodological drawbacks and changes, the GCI states the status of Estonia as an economic leader among the Baltic States. The tendency seen in the last years shows the levelling of the competitiveness of the Baltic States that can have a positive impact on the development of the region in the further period.  

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