Knowledge Economy Indicators and Their Impact on the Sustainable Competitiveness of the EU Countries

Elena Širá (), Roman Vavrek, Ivana Kravčáková Vozárová and Rastislav Kotulic
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Roman Vavrek: Faculty of Economics, Technical University of Liberec, Voroněžská 13, 460 01 Liberec 1, Czech Republic
Ivana Kravčáková Vozárová: Faculty of Management, University of Prešov in Prešov, Konštantínova 16, 080 01 Prešov, Slovakia

Sustainability, 2020, vol. 12, issue 10, 1-22

Abstract: In today’s turbulent world influenced by globalization, knowledge is becoming a key factor in the market. Every economy, if it wants to be successful and competitive, must pay more attention to knowledge and its creation, transfer, and preservation. In this respect, it is a key element in ensuring a country’s sustainable position in a competitive environment. Based on this, we set out the main idea of the article as follows: increased emphasis on the factors of a knowledge-based economy affects the growth of the country’s competitiveness, which contributes to its better sustainability. To verify the idea, we used a multi-criteria evaluation of countries by the TOPSIS method and a subsequent regression model. We examined developments in the EU countries over a period of 11 years in selected indicators typical for the knowledge economies, in the area of competitiveness. Finally, we examined the sustainability of EU countries. Based on the findings of these methods, we identified the leading country—Sweden—in the field of knowledge economy, competitiveness, and sustainability.

Keywords: knowledge economy; economic growth; competitiveness; sustainable development; Europe 2020 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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