Abstract
Research background: Under the current conditions of increasing competitiveness and interdependence, national economies are more influenced by the global business environment and its development. Constantly changing economic, social, political aspects, and many other factors, cause the differences in the global competitiveness of economies, so the economies are forced to analyze their competitive level more complexly. Despite that, there is a lack of research studies analyzing the international competitiveness of EU-28 economies from the point of view various multi-criteria indices.
 Purpose of the article: The paper investigates the relations between the Global Competitiveness Index (GCI) and other selected multi-criteria indices, namely the Global Innovation Index (GII), the Doing Business Index (DBI), the Economic Freedom Index (EFI) and the Corruption Perceptions Index (CPI) in the case of EU?28 economies.
 Methods: In order to investigate the relations between the global competitiveness and selected multi-criteria indices affecting the EU?28 economies, the multiple linear regression analyses were applied. The multiple regression model was quantified for every single year, as well as, the regression model using the average score of all analyzed indices. The secondary data concerning the scores of individual indices were collected based on annually published online reports over the period of 2014?2018.
 Findings & Value added: The research confirmed that there is a statistically significant dependence between the global competitiveness, corruption and the level of innovation potential within the EU?28 economies. Besides, we identified the worst results in the context of competitiveness evaluation especially in the area of corruption and innovation activities. In this regard, the issue of insufficient innovation development and inappropriate corruption perception is considered to be key determinants influencing the assessment of the global competitiveness of the EU?28 member states. In our opinion, to improve the competitiveness of these countries, targeted activities should be implemented in the frame of national competitive strategies, programs, and policies.
Highlights
The issue of competitiveness is an important aspect in the global economic environment
We have focused on identifying key determinants that affects the global competitiveness of the EU–28 member states
The following empirical part of research is focused on describing the results of analyses carried out in an effort to reveal the relations between the Global Competitiveness Index (GCI) and other selected international indices (GII, Doing Business Index (DBI), EFI, Corruption Perceptions Index (CPI)) within the EU–28 member states over the period of 2014–2018
Summary
The issue of competitiveness is an important aspect in the global economic environment. The business environment is evolving faster with increasing time and it constantly comes to social, technological and other changes. According to Ivanova et al (2015), competitiveness represents one of the alternative performance economic indicators which allows for monitoring of all important factors that affect economic performance, and many social aspects and social maturity of the country. Many international organizations, international research institutes or foundations compile multi-criteria evaluations of competitiveness indicators which lead to the compilation of worldwide rankings where countries defend their overall position, and position in selected areas. There are many internationally wellrecognized annual rankings on the competitiveness of countries focused on different areas of economy evaluation
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