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Sustainability 2018, 10(6), 1706; https://doi.org/10.3390/su10061706

The Relationship between the Knowledge Economy and Global Competitiveness in the European Union

1
UNESCO Department for Business Administration, The Bucharest University of Economic Studies, 010374 Bucharest, Romania
2
Department of Statistics and Econometrics, The Bucharest University of Economic Studies, 010374 Bucharest, Romania
*
Authors to whom correspondence should be addressed.
Received: 3 April 2018 / Revised: 21 May 2018 / Accepted: 21 May 2018 / Published: 23 May 2018
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Abstract

The main purpose of this paper is to study the influence of various indicators related to the knowledge economy on country competitiveness in the European Union (EU). Based on the Pearson coefficient and panel-data regression models, we analyzed the Global Competitiveness Index (GCI) in relation to research and development (R&D) expenditure (as a % of gross domestic product (GDP)), percentage of population with tertiary education, lifelong learning, GDP per capita, and debt to equity. The findings highlighted the crucial role of both innovation and education as determinants of EU competitiveness and economic convergence. The development of EU policies regarding the lifelong learning possibilities of the European workforce and the focus on research and development activities can significantly contribute to the competiveness of EU member states. View Full-Text
Keywords: competitiveness; knowledge economy; GDP; research and development; education; lifelong learning; correlation; panel data competitiveness; knowledge economy; GDP; research and development; education; lifelong learning; correlation; panel data
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Dima, A.M.; Begu, L.; Vasilescu, M.D.; Maassen, M.A. The Relationship between the Knowledge Economy and Global Competitiveness in the European Union. Sustainability 2018, 10, 1706.

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