Added value in the transport sector at the time before COVID-19 pandemic: a comparison of the EU countries

Yaroslava Kostiuk (), Yaroslava Kostiuk (), Veronika Kohútová (), Jarmila Straková () and Nadežda Koleda ()
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Yaroslava Kostiuk: University of Žilina, Slovakia
Yaroslava Kostiuk: Institute of Technology and Business in České Budějovice, Czech Republic
Veronika Kohútová: University of Prešov, Slovakia
Jarmila Straková: Institute of Technology and Business in České Budějovice, Czech Republic
Nadežda Koleda: Riga Technical University, Latvia

Entrepreneurship and Sustainability Issues, 2021, vol. 9, issue 2, 303-315

Abstract: The COVID-19 pandemic has had a significant impact on the generation of added value within national economies. Generation of added value in the transport sector is an important factor in manufacturing products and providing services in the environment of the national economies. The globalisation of production has made the transport sector one of the main sectors enabling and accelerating the process of generating added value in all other sectors. The objective of the contribution is to determine which EU-28 countries made the most effective investments in research and development (R&D) in order to achieve the highest possible value added of the state within the transport sector in the years 2012-2017. For the purposes of the analysis, regression model and the method of artificial neural networks were used. Our research identified a high differentiation in terms of the volume of investments in R&D participating in the creation of added value in the transport sector. The results of the analysis identified the EU-28 member states which achieved the optimal share of investments made in R&D and generated added value in the monitored period. Since each country has its priorities related to its goals and geographical location, the determined optimum is only indicative value of investment for a specific country but not a recommended value for all other states.

Keywords: added value; investments in research and development; transport sector; COVID-19 (search for similar items in EconPapers)
JEL-codes: F21 L91 O32 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:9:y:2021:i:2:p:303-315

DOI: 10.9770/jesi.2021.9.2(20)

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