Important Trading Partner Research Articles

Trends in international relations in the Indo-Pacific region

The global Indian and Pacific region is playing an increasing role in modern international relations. At the beginning of the XXI century, this region is a crossroads of different interests of great powers. The United States continues to play a leading role. The Pentagon introduced the concept of the Indo-Pacific region. From a military-strategic point of view, this concept is a symbol of American-Chinese competition. This process intensified under the Trump administration in 2017-2020. The Biden administration is consolidating regional democracies. Australia, India and Japan play a key role in this process. The European Union promotes the values and ideas of democracy in the Indo-Pacific region. China is an important trading partner of the EU. The intensification of the Sino-US confrontation in early 2022 has blocked the entry into force of the China-EU Free Trade and Investment Agreement. In early 2022, the United States, Great Britain and Australia announced the creation of a military alliance. India and Japan are concerned about China's growing military power. The Republic of Korea has a similar position. Hotspots of confrontation in the region are Taiwan, the Korean Peninsula, the disputed Spratly Islands. The Indo-Pakistani conflict around Kashmir destabilizes regional security. The Indo-Pacific region is an example of a complex multipolar system of international relations. This system is more risky in terms of security. The functioning of internal regional and interregional communication networks is complicated by military-technical, environmental, demographic, socio-cultural, interstate contradictions. The formation of a regional security system is limited by political problems. Post-modern democracies, such as Australia, India, Japan and the modernized Chinese autocracy and the North Korean Stalinist dictatorship, coexist in the Indo-Pacific region. The balance of interests is maintained by the United States and the European Union. This balance is volatile and unpredictable

Sources of Value-Added in V4 automotive GVCs: The Case of Transport and Storage Services and Firm Level Technology Absorption

Within V4 automotive Global Value Chains (GVCs), technologies absorbed by the corporate sector represent a significant impact on the level of value-added created within the economy. Sectoral and geographic targeting of our research is determined by the export of motor vehicles, trailers, and semi-trailers produced in the V4 countries. The article’s main objective was to investigate the role of services provided by V4 countries within GVCs with an emphasis on transport and storage. The authors used the method of linear regression analysis to answer two central research questions. Is there a synergic or spillover effect within the automotive clusters of the V4 countries in creating value-added originating in the logistic services? What role absorption of technology at the firm level in EU27 countries (the most important trading partners of the V4 countries) plays in creating value-added in the V4 automotive sector? Authors found differentiated results within V4 countries, confirming the hypothesis related to technology absorption. Implications for Central European audience: Despite high V4 export performance, the research suggests how to increase the value-added through higher involvement within GVCs (particularly the automotive industry). The paper demonstrates a positive impact of importing transport services from the EU countries to some V4 countries (Slovakia, Czechia, and Poland) and its value-added content in gross exports. For any V4 country, an increase in the quality of the business environment of EU trade partners (measured as the corporate level of technology absorption) results in a lower value-added creation, quite significantly, with lower effect in the case of Czechia, but more than 15% decrease in case of Poland, Hungary, and Slovakia.

Актуализация кубинской модели социально-экономического развития и ее влияние на национальную внешнюю политику

The ‘actualization’ of the Cuban social and economic model is a set of measures taken by the Cuban government to improve the country's socio-economic situation by attracting foreign capital and developing the private sector of the economy. These reforms are unprecedented in the history of socialist Cuba, since the country's leadership has never resorted to such comprehensive and profound reforms before. These measures include partial revision of tenets of Cuban statehood that previously seemed immutable. Such metamorphoses executed by Havana, despite their domestic political nature, have had a significant impact on the country's foreign policy, its bilateral relations with key world actors, and have changed Cuba's role and status both at the global and regional levels. ‘Actualization’ was a well-timed response of the Cuban government to the revision of the foundations of U.S. regional policy in Latin America under B. Obama, which subsequently allowed the parties to begin the so-called ‘Cuban thaw’ in bilateral relations. The transformation affected relations between Havana and the European Union, which were institutionalized due to the Political Dialogue and Cooperation Agreement and turned the EU into Caribbean state’s important investment and trade partner. China and countries of Latin America have also felt the effects of Cuba's socio-economic transformation. The evolution of Russian-Cuban relations which have undergone significant changes over the past two decades deserves particular attention in the context of ‘actualization’. A fold increase in bilateral trade turnover and the development of political dialogue between Moscow and Havana are markers of positive dynamics. However, it cannot be claimed that the Russian side has totally benefited from the Cuban socio-economic reforms, given the unique potential that Russia has in regard to Cuba.

Yugoslav-Italian foreign trade relations 1919-1939 and the Yugoslav industry: The import of textile products from Italy

Yugoslav-Italian relations between two world wars, besides the diplomatic-political, also had a very significant economic aspect. Italy was one of the most important foreign trade partners of the Kingdom of Yugoslavia, and this paper will explore the trade exchange between the two countries, especially the import of materials necessary for the textile industry, which substantially contributed to the positive balance of trade. Beside a quantitative analysis of statistical data regarding foreign trade, the paper also looks at the impact of political and economic events on the trade relations between the two countries, as well as the relation between the industrialization of Yugoslavia and changes in foreign trade.

New-generation trade agreement with Japan: Significance to EU Companies

Objective: The New-generation trade agreements, which include the agreement with Japan, provide wide coverage – not only the liberalisation of trade in goods or services but also the protection of intellectual property rights, the public procurement market, sustainable development and others. This paper aims to demonstrate key provisions and (both ex post and ex ante) opportunities that the agreement creates for EU companies. Research Design & Methods: The research methods include a critical review of existing literature, an analysis of relevant legal and official documents of the European Union, as well as the provisions of the EU-Japan trade agreement. The empirical research focused on Eurostat data. Findings: The provisions of the EU-Japan agreement provide an incentive for European companies to strengthen their position on the Japanese market. The elimination of import duties and other barriers to trade in Japan in relation to certain agricultural products on the entry into force of the agreement contributed to higher exports from the EU for these groups of goods. What might be expected is the additional effect of the liberalisation of bilateral trade on third countries. In fact, standards or rules agreed by Japan and the EU may become even more attractive to third countries, as their adoption would facilitate access to two large markets. Implications & Recommendations: Japan is a relatively important trading partner for the EU and vice versa. One of the biggest achievements of the agreement made between the European Union and Japan includes the wide and deep liberalisation of trade in goods. Despite the fact that the overall level of tariff protection is relatively low, there are still some groups of goods for which the protection in the form of customs duties constitutes an important barrier, as a result of which the conditions for competing on the partner’s market deteriorate. It seems that EU entrepreneurs should make more use of the opportunities which are created by the provisions of the free trade agreement with Japan. So far, the trade crisis caused by the pandemic has stood in the way. Contribution & Value Added: Research conducted so far is of an ex ante nature, both regarding the provisions of the agreement (publications written before 2018) and the evaluation of its potential effects on economy, trade, production or selected sectors. The research carried out in this article is of an ex post nature; it covers the period following the entry into force of the agreement and does not present any growth scenarios or forecasts, as was the case in the existing research. The article attempted to juxtapose the provisions of the agreement with Japan with trade conditions applicable to EU companies, as well as with the growth rate, volume and coverage of bilateral trade in goods.

The current state of Сhina’s international trade

This article will determine the degree of influence of external and internal negative factors, primarily the COVID-19 pandemic, the trade war with the United States, as well as Russia’s aggression against Ukraine, on the state of China’s international trade. The results of the study indicate that neither the trade war launched by former US President D. Trump, nor the deal between the Presidents of the United States and China, according to which China pledged to purchase an additional 200 billion dollar of American exports by the end of 2021, did not significantly harm China’s trade balance. Moreover, external and internal difficulties only strengthened the international competitiveness of China, which, due to the policy of strict regulation, coped with the consequences of the COVID-19 pandemic and American sanctions faster and more efficiently than its competitors (the US and EU countries). As a result, in recent years, China’s current account has grown from 103 billion US dollars in 2019 to 317 in 2021, while merchandise exports in 2021 hit a record high of 3.2 trillion US dollars. At the same time, despite significant success in international trade, China still has serious internal problems associated with overestimated real estate prices and the low financial stability of national banks. It has been researched that China was an important trade partner of Ukraine. These countries were discussing a creation of a free trade zone and the possible signing of a Free Trade Agreement. However, during the armed Russian aggression against Ukraine, as the results of the study showed, the volume of trade between the countries decreased several times. Although China seems to be showing its concern about the war in Ukraine, at the same time China’s economic partnership with Russia is deepening, which could lead to a deterioration of relations between Ukraine and China.

African swine fever detection and transmission estimates using homogeneous versus heterogeneous model formulation in stochastic simulations within pig premises.

African swine fever (ASF) is one of the most important foreign animal diseases to the U.S. swine industry. Stakeholders in the swine production sector are on high alert as they witness the devastation of ongoing outbreaks in some of its most important trade partner countries. Efforts to improve preparedness for ASF outbreak management are proceeding in earnest and mathematical modeling is an integral part of these efforts. This study aimed to assess the impact on within-herd transmission dynamics of ASF when the models used to simulate transmission assume there is homogeneous mixing of animals within a barn. Barn-level heterogeneity was explicitly captured using a stochastic, individual pig-based, heterogeneous transmission model that considers three types of infection transmission, (1) within-pen via nose-to-nose contact; (2) between-pen via nose-to-nose contact with pigs in adjacent pens; and (3) both between- and within-pen via distance-independent mechanisms (e.g., via fomites). Predictions were compared between the heterogeneous and the homogeneous Gillespie models. Results showed that the predicted mean number of infectious pigs at specific time points differed greatly between the homogeneous and heterogeneous models for scenarios with low levels of between-pen contacts via distance-independent pathways and the differences between the two model predictions were more pronounced for the slow contact rate scenario. The heterogeneous transmission model results also showed that it may take significantly longer to detect ASF, particularly in large barns when transmission predominantly occurs via nose-to-nose contact between pigs in adjacent pens. The findings emphasize the need for completing preliminary explorations when working with homogeneous mixing models to ascertain their suitability to predict disease outcomes.

China's Impact on Vietnam's Economy and Trade

After the reform and opening up, Vietnam's economy began to develop rapidly, and Vietnam's participation in international trade has deepened with Vietnam's accession to WTO. As an important trading partner of Vietnam, China has played a role in promoting Vietnam's economic development. This paper explores the impact of China on Vietnam's economic development in terms of Chinese investment, loans, and terms of trade. It also analyzes and discusses the policies and measures taken by the Vietnamese government in the face of these changes.

Surowce energetyczne poradzieckich państw Azji Centralnej w polityce gospodarczej Chin

China s interest in the energy resources of Central Asian has been growing since the end of the 20th century. During the twenty years of the 21st century, China became the most important trading partner Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan. Eksport from Central Asia to China are raw materials, mainly gas and crude oil, and imports are finished products of the mining sector, transmission and communication infrastructure. The opening in 2009 of the gas pipeline from Turkmenistan to China via Uzbekistan and Kazakhstan was a turning point for the strengthening of Beijing s influence in the region. The gas pipeline broke Russia s monopoly on intermediation in trade in energy resources from Central Asian states and created a completely new system of economic relations. Despite the conflicting interests with the Russian Federation, both countries are demonstrating their will to cooperate politically in the region.

THE EU IN CENTRAL ASIA: UNREALIZED AMBITIONS AND PROSPECTS

The Soviet Union has disappeared from the maps of the world, leaving the EU a chance to participate in the political processes unfolding in Central Asia, even if the vast spaces between them limited Brussels’ involvement in regional policies. This explains the European Commission’s succinct definition: “a bridge to China, as well as to Afghanistan and the Middle East” and “a source of significant energy imports for the EU.” For the same reason, Central Asia remains outside the European neighborhood policy; in defiance of the Treaty of Lisbon, its members prefer to act independently on the international arena: their interest in Central Asia and, therefore, their contributions to the common EU policy in the region differ vastly. Following the signing of partnership and cooperation agreements with the Central Asian states, the EU became one of their important trade partners and key investors. As such, Brussels pays particular attention to democracy, human rights and civil society in all the regional countries and cooperates with them in the security sphere. Destabilization in Afghanistan has forced border security issues into the focus of corresponding programs and initiatives realized by the EU. Their growing dependence on external sources of energy and an absence of guaranteed supplies stir up concerns in the EU member-states and in Brussels and breed hopes that Central Asia, with its considerable hydrocarbon resources and advantageous geographic location, may play an important role in energy supplies. So far, EU policy in Central Asia leaves much to be desired, while the results of the projects it had initiated in the region are clearly contradictory. Brussels has achieved a lot in diplomatic relations with the local states, which allowed it to expand its trade and economic cooperation and develop political coordination. However, its achievements in many other spheres (human rights, counteracting corruption and economic diversification) are not particularly impressive. The worsening situation in Afghanistan will generate migration flows to the Central Asian countries and the European Union. Another migration crisis cannot be ruled out.

Multi-vector Foreign Policy of Uzbekistan as an Important Means of Solving the Socio-economic Problems of the Country

The article elucidates the internal problems of Uzbekistan among which one should mention the problem of poverty, mass unemployment, shortage of arable land and water resources, serious ecological problems. To a high degree these problems have been caused by a rapid growth of population. Uzbekistan tries to solve these problems by means of liberal market reforms and the multi-vector foreign policy developing political, economic and trade relations at the same time with different countries, in particular with China, the USA, the EU, Turkey, South Korea, Russia and other countries-members of the Eurasian Economic Union (EAEU). It was shown that volumes of trade of Uzbekistan with the Western countries as well as the level of Western investments remain at least now not high. The conclusion is drawn that for the USA Uzbekistan presents the interest mainly in geopolitical, military and strategic aspects, especially now after the US troops left Afghanistan. The EU is more than the USA interested in developing the trade and economic relations with Uzbekistan. The new agreement between Uzbekistan and the EU on enlarged partnership and cooperation will create more favorable conditions for economic cooperation and trade, growth of European investments into economy of Uzbekistan. Nevertheless it seems that the factor of geographic remoteness of Uzbekistan from Europe will not make it possible for the EU countries to occupy the same place in external economic links of Uzbekistan as the countries-neighbours such as China, Russia and other countries-members of the EAEU. It is shown that China is the most important trade and economic partner of Uzbekistan. China considers Uzbekistan as the important transit country with transport corridors indispensable for transportation first of all of Chinese goods to the countries of Europe and other regions of the world. The Chinese investments into economy of Uzbekistan are constantly growing. The Eurasian Economic Union (EAEU), in particular Russia and Kazakhstan, is also the most important trade and economic partner of Uzbekistan. Besides, Russia is the biggest labour market for millions of Uzbek migrant workers. Within the EAEU the common labour market was created, migrant workers who are citizens of the countries-members of the EAEU enjoy the social rights of the country of stay and may freely move over territories of the countries-members of the EAEU. This fact is especially important for Uzbekistan which is interested in improving living conditions of its migrant workers. Besides, as the facts show, the economic integration within the EAEU does not prevent the governments of the countries-members of the EAEU from developing intensive political and economic relations with different countries. Taking into account the complex of acute socio-economic, ecological and demographic problems facing Uzbekistan it seems that in the future one cannot completely exclude the possibility of membership of Uzbekistan in the EAEU especially if such a membership does not prevent the Uzbek government from pursuing the multi-vector foreign policy. The parliament of Uzbekistan approved the decision to obtain the status of observer at the EAEU. The EAEU granted this status to Uzbekistan in December 2020.

Problems of Social and Economic Modernization of Kazakhstan

The article analyzes the features of the socio-economic development of the Republic of Kazakhstan after gaining independence in 1991. It is noted that historically the economy of Kazakhstan for many decades was formed as a raw material base for the unified national economic complex of the USSR. Under the conditions of independence, the raw materials industries, primarily the fuel and energy and mining and metallurgical complexes became the basis for the socio-economic development of Kazakhstan, thanks to which the country made an economic breakthrough and deeply integrated into the world economy. Kazakhstan is the leader among the post-Soviet countries in terms of the volume of attracted foreign direct investment, which contributed to the increase in the extraction of natural resources, the construction of new industrial enterprises and infrastructure facilities. The most important trade and investment partners of Kazakhstan are the European Union, the Russian Federation, China and the United States. At the same time, despite the geographical proximity, common social and ethnocultural features, only 4.9% of Kazakhstan’s foreign trade falls on the neighboring countries of Central Asia.
 The dependence of Kazakhstan on the sale of raw materials, the low investment attractiveness of the manufacturing industries make the country’s economy vulnerable to changes in the situation in the commodity markets, periodically lead to an aggravation of the socio-economic situation. In the structure of Kazakhstani exports, about 70% are products of the extractive industry. A problem in the development of the energy sector is the limited supply routes for energy carriers to world markets. The issue of changing the model of economic growth through the development of high-tech sectors of industry and support for small and medium-sized businesses is extremely relevant. The system of public administration, which is too bureaucratic and cumbersome, also needs to improve efficiency. Also, a reform of social policy is ripe, which should be aimed at increasing social support for citizens. It is necessary to change the strategy for the development of regions, primarily with regard to the creation of jobs and the reduction of regional imbalances.

Agri-Food Trade Competitiveness: A Review of the Literature

Being competitive in the international agri-food trade is an important aim of every country. It should be noted that this term has neither a commonly accepted definition nor a synthetized index to quantify it. The most commonly used indices in the international literature are the Balassa index and its modified versions (revealed trade advantage, revealed competitiveness, normalized revealed comparative advantage, and revealed symmetric comparative advantage) and different export and/or import-related indices (e.g., the Grubel–Lloyd index or the trade balance index). Based on a systematic review of the literature, these measurements were identified along with the major factors suggested for higher agri-food trade competitiveness. It seems that supportive legislation and/or (trade) policy is the most crucial factor, followed by higher value-added/more sophisticated goods, and high, efficient, and profitable production. Although the EU and its member states were overrepresented in the analyzed literature, the candidate countries, as well as other important trading partners of the EU, e.g., Canada, China, or the ASEAN countries, were also analyzed. Thus, some of these findings may be generalized.

India’s Foreign Trade – An Overview

Export-Play, Important Role of any country’s business India is one among these countries that have been exporting a large number of product and raw material to other countries to earn economy wealth. India is 19th largest export economy. India’s overall, export- in 2019-20 was US $ 313138.5 million and total import was US $ 473995.2 million and trade balance was US $ 160856.7 million. The main object of the paper is to analyse the structural change in foreign trade- Under new Exim policy. The period of the study is from 2010-11 to 2019-20. The result shows that USA, UAE, Hongkong, UK, Germany, Saudi Arbia and China accounted from more than 40% of export from India at the world level. India total export which was US $ 330078.1 million in the year 2018-19 decline to US $ 313138.5 million in the year 2019-20. The total export from India decreased by 5.13% from the year 2018-19 to year 2019-20. In the year 2019-20 the share in total export from India to USA is 16.95%, UAE 9.21%, China 5.30%, Hongkong 3.50%, UK 2.79%, Germany 2.64%, and Saudi Arbia 1.99%. India’s total import in the year 2019-20 was US $ 473995.2 million which China contributed by 37.76%, USA 7.52%, Saudi Ariba 3.60%, Hongkong 3.5%, UAE .38% and Germany 2.81%,. The result show that USA is most important trading partner followed by UAE an UK, Hongkong, China and other countries.

The Impacts Of The Great Depression 1929-33 On Hungary’s Economy

The Great Depression of 1929-33 had serious consequences on Hungary’s economy. The Central and Eastern European countries, including Hungary were hit severely by the downturn of the wholesale prices as regards of agricultural products in international markets. Besides declining prices another major problem was that the industrialised countries introduced protectionist measures (customs duties and quotas). As a result of this process, market opportunities were constrained and later ceased to exist. The situation was further aggravated by the fact that the unfavourable gap between agrarian and industrial prices further widened in the 1920s. Although the crisis started to emerge in the agriculture, its effects were extended to the industry as well. Due to the lack of safe markets, heavy industrial branches declined sharply, whereas the volume of output fell modest in the light industry. The bankruptcy of the Austrian Credit Anstalt on 12th Mai 1931 adversely affected Hungary’s financial system. In order to overcome the difficulties, banking holiday was ordered by the government, which coupled with the suspension of all payments and the introduction of foreign exchange control. Foreign trade has changed significantly. In 1937, the share of Hungary’s export in Germany’s trade was 42 percent, which increased to more than 50 percent after the Anschluss. Thus, at the end of the 1930s, the Third Reich became the most important trade partner of Hungary. Thanks to favourable external conditions accompanied by the rearmament programme of Nazi Germany and state intervention, the performance of the Hungarian economy improved, and by 1937 it surpassed the pre-depression level. The Győr Programme, announced on 12th March 1938 with its military and infrastructural development contributed to the economic boom, which had positive impacts both in the heavy and light industrial branches.

More than carrots and sticks: Economic statecraft and coercion in China–Taiwan relations from 2000 to 2019

China has become one of the most important trading partners for many Asian countries, and Taiwan is at the forefront of China’s economic coercion. It also leads to the following empirical puzzle: When can Beijing’s economic sanctions and incentives achieve their desired outcomes? Why and how do they often fail? Given the power asymmetry between China and Taiwan, how Taiwan resists China’s coercive measures contributes significantly to theoretical development in international relations. Taiwan has responded to Chinese economic pressure by diversifying its trade with and investment in Southeast Asian and South Asian countries to lessen dependence on China. It also securitizes China–Taiwan relations by raising public awareness about over-reliance on China’s market. Taiwan is not only a target of China’s coercion, but an active actor in its own right as well. This article re-evaluates the literature on East Asian politics and economic statecraft. First, it highlights the salience of power asymmetry to the field of economic statecraft. Second, it offers a three-level analysis of when and how China exercised economic coercion and incentives towards Taiwan. Third, it examines how Taiwan addressed Beijing’s sanctions on Chinese group tourists starting in 2016. The final section discusses some conclusions that can be drawn and suggests some avenues for future research.

Historical Lessons for Australia's Foreign Policy: The Case of British EEC Membership

The Australian Government's attitudes towards major events in international politics such as the UK's entry into the European Economic Community (EEC) in the past and Brexit negotiations today, carry greater weight than previously assumed in political science literature. Australia was critical of the EEC (now called the European Union, EU) in the early 1960s, when its then most important trading partner, the United Kingdom (UK) first applied for membership. Australia was ill-prepared to deal with the repercussions from Britain's entry into the EU, as Australian foreign policy was heavily influenced by local as well as international anti-EEC attitudes. This paper will analyse political debates in Australia during the 1960s and early 1970s with reference to parliamentary Hansard records and newspaper articles in order to suggest a new framework for Australian foreign policy analysis.

Brasil e Estados Unidos: Uma análise do comércio internacional e bilateral no período 2005-2016

RESUMO: As relações comerciais entre o Brasil e os Estados Unidos são antigas e datam desde a independência do Brasil. Os Estados Unidos sempre foram um importante parceiro comercial do país, no entanto, seu peso na pauta de comércio brasileira tem se reduzido paralelamente à intensificação da fragmentação internacional da produção e ao crescente destaque da parceria do Brasil com a China. O objetivo do artigo é apresentar uma análise comparativa da inserção do Brasil e dos Estados Unidos no comércio internacional e da relação comercial entre eles no período recente (2005-2016). A análise estatística por meio dos dados da COMTRADE demonstrou que os principais produtos da pauta de exportações brasileira para os Estados Unidos apresentam maior grau de sofisticação tecnológica, do que a pauta para o mundo. Os resultados também apontam para uma maior concentração nas exportações do que nas importações do Brasil e uma tendência de crescimento do grau dessa concentração. O Brasil apresenta uma especialização muito maior em produtos de baixa intensidade tecnológica, porém há uma maior presença de produtos com mais intensidade tecnológica nas exportações para os Estados Unidos, demonstrando a relevância das relações com esse parceiro comercial no período recente.
 PALAVRAS-CHAVE: padrão de especialização comercial, relações bilaterais, pauta de exportação.

Ekonomska determinisanost integracionih procesa Republike Srbije

Exchange of goods and services is the most important domain of economic cooperation between the Republic of Serbia with the world and is crucial for faster growth of gross domestic product (and thus expected economic growth rates and faster social development and rising living standards) in the coming period. Due to this, paper analyses the degree of involvement of the Republic of Serbia in total world exports, its most important foreign trade partners, the degree of openness of the economy and the share of exports in gross domestic product, analyzing the period from 2008 to 2017. The aim of this paper is to study specific relations between the Republic of Serbia and its most important foreign trade partners and their interdependence with the integration processes through multilateral and bilateral cooperation with the European Union, Eurasian Economic Union, World Trade Organization and Central European Free Trade Agreement. Based on the updated statistical research and analysis of the content of the basic determinants of bilateral agreements, recommendations were given for the future development of integration processes within the European Union and the Eurasian Economic Union.

Eco-innovations in V4 countries: Comparison from a Global Perspective

Research background: Globalization and the associated growing global competition provide incentives for the adoption of new technologies and innovations. In general, innovations could be considered as a dominant driver of the economic growth. However, current environmental challenges and sustainable development support the diffusion of eco-innovations to foster green growth. In terms of its global position, a country is often compared to its neighbouring countries, which are often the most important trading partners in the international market. Purpose of the article: This paper is focused on the evaluation of eco-innovation performance of the V4 countries with emphasis on the Slovak Republic. Methods: The article applies selected indicators of the Global Innovation Index to provide insightful data on countries' eco-innovation performance from the different V4 countries by applying the correlation analysis. Findings & Value added: The results compare the state of selected indicators of innovation within the V4 countries and describe the current position of the Slovak Republic. The results demonstrate the relative strengths within all selected countries in the sub-pillar Ecological Sustainability and significant eco-innovation potential.