Abstract
In the context of ensuring the long-term prosperity of each country, the more and more emphasis is placed on the mutual comparison of the nation´s competitiveness in the European or global area, so every country monitors and supports the development of its global acceptability. The aim of this paper was to analyze the development of Slovakia’s competitiveness through the Global Competitiveness Index (GCI) during the period 2006-2016 and to reveal the interrelationships among the GCI indicator and its individual pillars. Of the total 12 pillar scores, a statistically significant correlation with the GCI of Slovakia was confirmed in the case of 7 pillars, whereas the strongest positive relationship was proved for 1st Pillar: Institutions. The level of Slovakia’s spending on R&D belongs to one of the lowest within the EU countries. Over the years 2006-2015, the average R&D intensity fluctuated around 0.68%, whereas in 2015 it reached the value of 1.18%. The top leader in R&D expenditure per capita within the V4 countries is the Czech Republic followed by Hungary, Poland and Slovakia which in 2015 significantly increased its R&D spending to the level of 171.7 € per capita and ranked 2nd in the V4 countries.
Highlights
Competitiveness and innovation performance represent two interrelated economic categories that reflect their synergistic effect in different areas of economic and social life [1]
Relevant information about several aspects of competitiveness from the perspective of attractiveness of the country for foreign investment and doing business provide a number of reputable international institutions – World Bank (WB), World Economic Forum (WEF), International Institute for Management Development (IMD), The Heritage Foundation (HF), Eurostat and many others
Based on secondary data gathered from the Global Competitiveness Reports for the years 2006-2016, we focused on the development of Slovakias Global Competitiveness Index (GCI) indicator compared with its average scores reached in the Visegrad group countries and European Union (28)
Summary
Competitiveness and innovation performance represent two interrelated economic categories that reflect their synergistic effect in different areas of economic and social life [1]. Technology and innovation activities become the main source of economic growth and competitiveness in the local as well as international business environment This fact is becoming topical and discussed issue, especially in the developed EU countries. Relevant information about several aspects of competitiveness from the perspective of attractiveness of the country for foreign investment and doing business provide a number of reputable international institutions – World Bank (WB), World Economic Forum (WEF), International Institute for Management Development (IMD), The Heritage Foundation (HF), Eurostat and many others. These institutions assess and present internationally comparable results called “competitiveness rankings”. They represent a way of multicriteria evaluation through various international aggregated indexes [6]
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