文章基本信息

标题：The Main Drivers of Competitiveness in the EU-28 Countries
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作者：Mihaela Simionescu ; Elena Pelinescu ; Samer Khouri 等
期刊名称：Journal of Competitiveness
印刷版ISSN：1804-171X
电子版ISSN：1804-1728
出版年度：2021
卷号：13
期号：1
页码：129-145
DOI：10.7441/joc.2021.01.08
语种：English
出版社：Tomas Bata University in Zlín
摘要：During the past few decades, globalization has dramatically changed the context of competitiveness around the world. Considering the role of competitiveness in the development of the digital economy, this paper aims to highlight the role of innovation, foreign direct investment (FDI), and human capital in supporting competitive European economies. The research hypothesis is that FDI, innovation, and human capital contribute to competitiveness growth. The paper extends the Cobb-Douglas function by including other competitiveness factors in a panel data framework based on the EU-28 countries in the period 2004-2018. The results indicate that GDP per capita variation is explained by human and physical capital, FDI, and R&D expenditure. Human capital plays a crucial role in economic development due to the innovation skills of individuals, which improve the productivity of these factors. Capital formation also makes a positive contribution to economic growth. The empirical evidence suggests that the changes in the GDP per capita are explained by modifications in the labor force and capital formation, as is described in the traditional framework of the Cobb-Douglas function. R&D expenditure and FDI stock, however, also play a significant role. Moreover, human capital could determine the adoption of external technology by absorbing new equipment and ideas. On the other hand, the education index and capital formation showed a positive impact on GCI.
关键词：competitiveness;human capital;innovation;FDI;panel data model