The Relationship between the Knowledge Economy and Global Competitiveness in the European Union

The main purpose of this paper is to study the influence of various indicators related to the knowledge economy on country competitiveness in the European Union (EU). Based on the Pearson coefficient and panel-data regression models, we analyzed the Global Competitiveness Index (GCI) in relation to...

Full description

Saved in:
Bibliographic Details
Published in:Sustainability 2018-05, Vol.10 (6), p.1706
Main Authors: Dima, Alina, Begu, Liviu, Vasilescu, Maria, Maassen, Maria
Format: Article
Language:English
Subjects:
Competitiveness
Data processing
Economics
Education
GDP
Gross Domestic Product
Innovations
Knowledge economy
Lifelong learning
Longitudinal studies
R&D
Regression analysis
Research & development
Sustainability
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The main purpose of this paper is to study the influence of various indicators related to the knowledge economy on country competitiveness in the European Union (EU). Based on the Pearson coefficient and panel-data regression models, we analyzed the Global Competitiveness Index (GCI) in relation to research and development (R&D) expenditure (as a % of gross domestic product (GDP)), percentage of population with tertiary education, lifelong learning, GDP per capita, and debt to equity. The findings highlighted the crucial role of both innovation and education as determinants of EU competitiveness and economic convergence. The development of EU policies regarding the lifelong learning possibilities of the European workforce and the focus on research and development activities can significantly contribute to the competiveness of EU member states.
ISSN:2071-1050
2071-1050
DOI:10.3390/su10061706