Bibliographic description:
Cherkas, N, Chekh, M (2020). Assessing the Countries’ Competitiveness Based on Value Added Concept. In M. Papież and S. Śmiech (Eds.),
The 14th Professor Aleksander Zeliaś International Conference on Modelling and
Forecasting of Socio-Economic Phenomena. Conference Proceedings. Krakow, pp.12-21
Abstract:
The paradigms of global competitiveness are changed recently because of the new trade patterns and global
production networks development. This tendency requires rethinking of national economic growth policy with
focus on the impact of international competitiveness factors. This study investigates the impact of fundamental
macroeconomic parameters on the global competitiveness. A set of 27 European countries is assessed in the period
of 2006-2018 considering their economic performance and development. The determinants of growth and
competitiveness are studied. The results show that competitiveness in European countries depends on exchange
rate fluctuations. The paper provides comparative studies including developed countries, Central-East European
countries, GIIPS countries and offers insight for policy formulation on growth and competitiveness. Ordinary least
squares (OLS) with pooled data, panel data with fixed effects (FE), random effects (RE), and the dynamic panel
data model were used as principal methods. The empirical findings obtained are particularly important to consider
for economic policies and strategies of economic development.
