Cluster Analysis of Regional Competitiveness in the European Union and the Role of ICT

Marta-Christina Suciu and Adrian Petre

Romanian Economic Journal, 2021, vol. 24, issue 82, 2-11

Abstract: This article represents an empirical research on the competitiveness of the European Union Member Countries. The main objective is to analyze the level of competitiveness of these countries, focusing on the situation of the new non-Eurozone member countries. At the same time, we want to identify the main measures to stimulate competitiveness. The research methodology we applied is based on critical comparative analysis, statistical data and econometric analysis. The results showed that there are large gaps in competitiveness between the new EU Member Countries that are not part of the Eurozone and the EU-28 average, and even larger compared to the performers Netherlands and Germany, gaps that in the current conditions will be very difficult to be reduced. Research has also shown that ICT adoption do not have a significant impact on the competitiveness indicator, and the main factors influencing this indicator are innovation capability, financial system, institutions, business dynamism, product market and skills. Thus, we believe that for a sustainable growth of competitiveness and for meeting the economic objectives, developing countries must adopt concrete measures to develop these fundamental pillars of competitiveness.

Keywords: competitiveness; innovation; smart development; cluster; European Union (search for similar items in EconPapers)
JEL-codes: O13 O30 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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