The Development of a Knowledge Economy as a Factor in the Competitiveness of Central and East European Countries

Abstract

The purpose of this research is to analyse the influence of knowledge resources on the competitiveness of Central and East European (CEE) countries. The aim is to identify the correlation between the achieved development level of the knowledge economy, as measured by the Knowledge Economy Index (KEI), and the competitiveness level, as measured by the Global Competitiveness Index (GCI). The study was conducted using descriptive statistics, correlation, and cluster and regression analysis. Structurally, the paper is composed of the following parts: a) analysis of CEE countries’ competitiveness according to the GCI and KEI; b) examination of the correlation between the GCI and KEI in CEE countries; and c) analysis of the influence of pillars within the KEI on the GCI in CEE countries. The research results show that there is a strong positive correlation between the GCI and KEI. The outcomes of this study are useful for development policy-makers in CEE countries and highlight the relevance of improving knowledge economy performance in future.