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Smart Growth Developments of European Union Members by Europe 2020 Strategy

In: MODELING AND ADVANCED TECHNIQUES IN MODERN ECONOMICS

Author

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  • Şahika Gökmen
  • Johan Lyhagen

Abstract

The Europe 2020 Strategy is an agenda of 10-year aims for the European Union (EU) countries in force for the current planning period (2010–2020). This strategy includes five headline targets and three-leg growth strategies, namely smart, sustainable and inclusive growth. In particular, smart growth refers to developing an economy based on knowledge and innovation. Hence, it can be considered as the priority target through which the components of smart growth targets directly help the main aim of becoming the world’s most competitive and dynamic economy. The motivation of this study is to examine both the annual and current situations of countries in the smart growth aspect. For this purpose, seven variables and the 2010–2019 period were used for the analysis. Factor analysis is the preferred research method because it can provide annual factor scores, which can be the basis of rankings of countries. According to the main results of the analysis for the most recent year (2019), Finland, Spain and France occupy the first three places, respectively, while Poland, Bulgaria and Luxembourg are at the bottom with Poland being the last.

Suggested Citation

  • Şahika Gökmen & Johan Lyhagen, 2022. "Smart Growth Developments of European Union Members by Europe 2020 Strategy," World Scientific Book Chapters, in: Çağdaş Hakan Aladağ & Nihan Potas (ed.), MODELING AND ADVANCED TECHNIQUES IN MODERN ECONOMICS, chapter 1, pages 1-22, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800611757_0001
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    Keywords

    Harmonic Regression; Periodograms; Consumer Price Index; Food Inflation; Turkey; Gaussian Distribution; Europe Union; GDP; Panel Data; Spatial Regression; Measurement Errors; Nonlinear Time Series; Chaotic Time Series; Weibull Distribution; Location Parameters; Fiducial Approach; Hypothesis Testing; Green Swan; Financial Stability; Annex II Countries; Financial Time Series; Kernels; Stock Index; Machine Learning; Statistical Learning; Optimization; WSAR Algorithm; Deep Neural Networks; Phyton; Parameter Estimation; COVID-19; Clustering Analyses; Artificial Neural Networks; Performance Criteria; Time Series Forecasting; Statistical Inference;
    All these keywords.

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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