Macroeconomic stability and the level of competitiveness in EU member states
A comparative dynamic approach
Bibliographic Data
| ID | 19484652 |
|---|---|
| Authors | Elżbieta Roszko‐Wójtowicz (0000-0001-9337-7218, University of Lodz), Maria M Grzelak (0000-0003-4353-9893, University of Lodz) |
| Year | 2020 |
| Volume | 11 |
| Issue | 4 |
| Pages | 657-688 |
| Publication date | 2020-12-30 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Oeconomia Copernicana (JOURNAL) |
| Journal identifiers | ISSN: 2083-1277 • E-ISSN: 2353-1827 |
| Publisher | Instytut Badan Gospodarczych / Institute of Economic Research (PUBLISHER) |
| DOI | 10.24136/oc.2020.027 |
| OpenAlex | W3115934989 |
| Language | EN |
| Citations received | 8 |
| References cited | 63 |
Research background: The choice of the issue of international competitive-ness of economies as the research problem addressed in this paper has been mainly dictated by the changes observed in the nature of the development of EU economies and the need to assess the competitiveness of the Polish economy. It is time to evaluate and learn from the largest enlargement in the history of the EU which took place in May 2004. An assessment of changes in the state of EU economies, including the Polish economy, is in the centre of research interest of many scientists. National competitiveness is the subject of a great deal of research and economic studies. Integration and globalisation processes in the world economy are the main reasons for the popularity of this topic. The efficient use of sources and factors determining the competitiveness of economies, sectors and enterprises is associated with prosperity over the long term. One of the methods based on the observation of selected basic indicators of economic competitiveness is the method of analysis called the macroeconomic stabilisation pentagon. The method illustrates the extent to which the government achieves five macroeconomic objectives. It is very difficult, if not impossible, to meet all these objectives at the same time. The difficulty of meeting all these goals concurrently is due to the fact that they are more or less competitive rather than complementary. The proposed assessment of competitiveness based on the developed model of macroeconomic stabilisation pentagon is a unique approach in terms of discussion of country?s competitiveness. This approach significantly distinguishes the current study in comparison with standard international reports on competitiveness such as the Global Competitiveness Index or the EU Regional Competitiveness Index. Purpose of the article: The main aim of the paper is to assess the competitiveness of EU economies in the years 2005?2018, based on a selected set of diagnostic variables referring to the concept of macroeconomic stabilisation pentagon. The paper also formulates a detailed list of four research hypotheses. Methods: In order to characterise the competitiveness of the European Union economies, including the EU?15 and EU?13 groups, as well as the Visegrad group, six diagnostic variables affecting the economic situation of individual EU countries were analysed. The variables for analysis were chosen so as to reliably describe the competitive position of a given country, at the same time referring in a substantive sense to the concept of macroeconomic stabilisation pentagon. The linear ordering of objects was made using the reference Hellwig method. The selected method enabled the development of competitiveness rankings of EU Member States in the years 2005, 2009, and 2018. Findings & Value added: The comparative analysis of the main macroeconomic indicators conducted in the paper forms the basis for assessing the cur-rent state of the EU economy in relation to other countries. In the paper, the authors depart from the standard elaboration of ?magic pentagon.? Instead, they apply the variables used in the macroeconomic stabilisation pentagon analysis to develop competitiveness rankings of EU Member States. The con-ducted empirical study has confirmed that the 15th anniversary of EU member-ship had a decidedly positive impact on the level of economic development of the EU?13 countries
Economics · European union · International economics · Macroeconomics · Member states · Monetary economics · Computer Science · Global Trade and Competitiveness · Global trade and economics · Regional Development and Policy
Macroeconomic stability of the country
Foreign direct investment and shadow economy
EU countries’ digital transformation, economic performance, and sustainability analysis
The volatility of bank stock prices and macroeconomic fundamentals in the Pakistani context
Competitiveness, fiscal policy and corruption
Economic competitiveness vs. green competitiveness of agriculture in the European Union countries
In search of key determinants of innovativeness in the regions of the Visegrad group countries
An empirical investigation of the effect of corruption on domestic savings in Nigeria
Group Decision and Negotiation in an Uncertain World
The Competitive Advantage of Nations
The Competitive Advantage of Nations
Making sense of the competitiveness debate
The Impact of the International Economy on National Policies
Environmental Policy, Innovation and Performance
Multidimensional comparative analysis of the competitive capacity of the European Union countries and geographical regions
An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises
Multiple-criteria Evaluation of Quality of Human Capital in the European Union Countries
Regional Competitiveness
The Economic Performance of Regions
Speaking Freely
Playing to Win
Competitiveness
The State's Role in Globalization
| Unique citing works | 8 |
|---|---|
| Citations per year | 1,33 |
| Citation span | 2020 - 2023 (4) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 8 |