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

Author

Listed:
  • Elena Širá

    () (Faculty of Management, University of Prešov in Prešov, Konštantínova 16, 080 01 Prešov, Slovakia)

  • 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)

  • Rastislav Kotulič

    () (Faculty of Management, University of Prešov in Prešov, Konštantínova 16, 080 01 Prešov, Slovakia)

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.

Suggested Citation

  • Elena Širá & Roman Vavrek & Ivana Kravčáková Vozárová & Rastislav Kotulič, 2020. "Knowledge Economy Indicators and Their Impact on the Sustainable Competitiveness of the EU Countries," Sustainability, MDPI, Open Access Journal, vol. 12(10), pages 1-22, May.
  • Handle: RePEc:gam:jsusta:v:12:y:2020:i:10:p:4172-:d:360529
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    References listed on IDEAS

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    Cited by:

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    2. Priscila Celebrini de Oliveira Campos & Tainá da Silva Rocha Paz & Letícia Lenz & Yangzi Qiu & Camila Nascimento Alves & Ana Paula Roem Simoni & José Carlos Cesar Amorim & Gilson Brito Alves Lima & Ma, 2020. "Multi-Criteria Decision Method for Sustainable Watercourse Management in Urban Areas," Sustainability, MDPI, Open Access Journal, vol. 12(16), pages 1-1, August.

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    More about this item

    Keywords

    knowledge economy; economic growth; competitiveness; sustainable development; Europe 2020;
    All these keywords.

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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