Abstract
The Europe 2020 strategy is the EU strategy for sustainable and inclusive growth, for fighting the structural weaknesses of the European economies, and for improving their competitiveness. In this paper, we determined the most important ratios of the Europe 2020 Strategy impacting on economic performance expressed as the growth of the GDP per capita, and on economic competitiveness expressed as the share of the countries’ exports in total world exports for some selected Central and Eastern European (CEE) countries (Poland, Slovakia, Bulgaria, Hungary, the Czech Republic, and Romania) using co-integration tests and OLS panel estimations with a dataset between 2004 (after four of these selected countries acceded to EU) and 2015 (the latest available data for all the ratios we used in our analysis). Our findings show that the tertiary level of education is the most important factor, positively correlated with both endogenous variables mentioned above. Other important factors for achieving the economic performance and competitiveness goals are the school dropout ratio, the share of renewable energy in final energy consumption, and the employment rate.
Highlights
In the era of frequent economic, environmental, and political crises at the global level, the concept of development begins to include an increasing number of aspects, having in mind the problems arising that should be solved, such as growing poverty, social exclusion, population aging, the reduction in the availability of non-renewable resources, environmental catastrophes with far-reaching consequences, the intensification of the globalization process, political crises, etc
We determined the most important ratios of the Europe 2020 Strategy impacting on economic performance expressed as the growth of the GDP per capita, and on economic competitiveness expressed as the share of the countries’ exports in total world exports for some selected Central and Eastern European (CEE) countries (Poland, Slovakia, Bulgaria, Hungary, the Czech Republic, and Romania) using co-integration tests and OLS panel estimations with a dataset between 2004 and 2015
Poland displays a higher share of its exports in total world exports, while Bulgaria displays a very low level among the selected CEE countries
Summary
In the era of frequent economic, environmental, and political crises at the global level, the concept of development begins to include an increasing number of aspects, having in mind the problems arising that should be solved, such as growing poverty, social exclusion, population aging, the reduction in the availability of non-renewable resources, environmental catastrophes with far-reaching consequences, the intensification of the globalization process, political crises, etc. Greenhouse gas emissions (index 1990 = 100) Share of renewable energy in gross final energy consumption (%) Primary energy consumption (Million tonnes of oil equivalent) Final energy consumption (Million tonnes of oil equivalent)
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