Abstract
Sustainable growth of EU economies and Baltic context: Characteristics and modelling
Highlights
In 2010 the European Commission (EC) launched the complex coherent “Europe 2020 Strategy” to turn the EU into a smart, sustainable and inclusive economy (EC 2010a). This does not exclude the exploitation of national comparative advantages, e.g., industry, tourism, agriculture; a common economic and political vision, the location in the same geographic region provides a necessary basis for benchmarking modelling of economies
We found that by insignificant reduction of correlation it becomes possible to create a single regularity for all EU economies, which is based on three predictors only:
The created benchmarking model well reflects the growth of EU economies despite their diversity
Summary
The sustainable growth of any economy depends on many aspects with different impact on general progress, which are widely discussed in the contemporary scientific literature (e.g. Bilan et al 2017; Korauš et al 2017; Jurigová et al 2016; Čirjevskis 2016; Štitilis et al 2016; Laužikas et al 2016; Strielkowski 2016; Tvaronavičienė 2016a, 2016b; Pauceanu 2016).Planning the growth, modelling is proposed as a tool, which makes it possible to evaluate scenarios and strategies, to select the aspects with significant effect and to predict the future (e.g., Divya & Devi, 2014; Stundziene, 2015).There is a united general growth trend for all EU countries. The sustainable growth of any economy depends on many aspects with different impact on general progress, which are widely discussed in the contemporary scientific literature In 2010 the European Commission (EC) launched the complex coherent “Europe 2020 Strategy” to turn the EU into a smart, sustainable and inclusive economy (EC 2010a). This does not exclude the exploitation of national comparative advantages, e.g., industry, tourism, agriculture; a common economic and political vision, the location in the same geographic region provides a necessary basis for benchmarking modelling of economies. What is even more important: there are number of economies, which currently are on higher level; their experience will be important for planning our activities and prediction of progress
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
