<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Background and Purpose</bold>: The main purpose of this study is to find the key drivers of Global Competitiveness Index (GCI) in the European Union (EU-28) countries from the aspect of country’s global competitiveness: institutions, macroeconomic environment, infrastructure, higher education, market effectiveness, market size, technological readiness, innovation and business sophistication.<bold>Methodology:</bold> This paper investigates global competitiveness of the EU-28 countries with the use of GCI in the periods 2014-2015 and 2017-2018. The correlation analysis and regression analysis are applied for testing the set two hypotheses.<bold>Results:</bold> The empirical results confirmed our hypotheses that GCI is particularly significantly positively correlated with innovation and business sophistication, and universities-industry collaboration in researches, and clusters development.<bold>Conclusion</bold>: The paper contributes to the literature of global competitiveness, by examining the relationship of sub-indexes of competitiveness of the EU-28 countries, pointing out the influence of universities-industries collaboration in researches and cluster development with geographic concentration of companies. The results and findings can be relevant for science, economic and research policy, and managerial practices that enhance innovation and business sophistication for research in collaboration of companies, universities, higher education institutions, and decision makers. The implications of this study can be important for better understanding of drivers of the EU-28 countries global competitiveness.</abstract>

Background and Purpose: The main purpose of this study is to find the key drivers of Global Competitiveness Index (GCI) in the European Union (EU-28) countries from the aspect of country’s global competitiveness: institutions, macroeconomic environment, infrastructure, higher education, market effectiveness, market size, technological readiness, innovation and business sophistication.Methodology: This paper investigates global competitiveness of the EU-28 countries with the use of GCI in the periods 2014-2015 and 2017-2018. The correlation analysis and regression analysis are applied for testing the set two hypotheses.Results: The empirical results confirmed our hypotheses that GCI is particularly significantly positively correlated with innovation and business sophistication, and universities-industry collaboration in researches, and clusters development.Conclusion: The paper contributes to the literature of global competitiveness, by examining the relationship of sub-indexes of competitiveness of the EU-28 countries, pointing out the influence of universities-industries collaboration in researches and cluster development with geographic concentration of companies. The results and findings can be relevant for science, economic and research policy, and managerial practices that enhance innovation and business sophistication for research in collaboration of companies, universities, higher education institutions, and decision makers. The implications of this study can be important for better understanding of drivers of the EU-28 countries global competitiveness.

Drivers of Global Competitiveness in the European Union Countries in 2014 and 2017

Organizacija

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Background and Purpose: The main purpose of this study is to find the key drivers of Global Competitiveness Index (GCI) in the European Union (EU-28) countries...

Drivers of Global Competitiveness in the European Union Countries in 2014 and 2017

Published Online: Mar 17, 2020

Page range: 37 - 52

Received: Sep 29, 2019

Accepted: Jan 17, 2020

DOI: https://doi.org/10.2478/orga-2020-0003

Keywords
competitiveness, economic activities, global competitiveness index, innovation

© 2020 Milja Marčeta et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Drivers of Global Competitiveness in the European Union Countries in 2014 and 2017

Published Online: Mar 17, 2020

Page range: 37 - 52

Received: Sep 29, 2019

Accepted: Jan 17, 2020

DOI: https://doi.org/10.2478/orga-2020-0003

Keywordscompetitiveness, economic activities, global competitiveness index, innovation

© 2020 Milja Marčeta et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
competitiveness, economic activities, global competitiveness index, innovation