Competitiveness Of National Economy Research Articles

THE RELATIONSHIP OF STATE INVESTMENTS IN THE SECTOR OF ССI AND THE LEVEL OF COMPETITIVENESS OF THE ECONOMY

The article examines the relationship between public investment in the creative and cultural industries (CCI) sector and the level of competitiveness of the national economy. This study examines the influence of state-sponsored initiatives, including innovative projects, cultural programmes and creative start-ups, on a country's global economic competitiveness. It is established that investments in the cultural and creative industries have a dual impact on the national economy. Firstly, they facilitate the development of the cultural and educational spheres. Secondly, they have a significant impact on GDP growth, job creation, increase in export potential and attraction of foreign investment. Particular attention is paid to the mechanisms of interaction between the public and private sectors for the effective implementation of investment programmes in the field of CCI. The article examines the various financing models and institutional approaches that can ensure the sustainable development of creative industries. A substantial portion of the study is dedicated to an examination of international experiences with regard to investment in cultural and creative industries. In particular, the European Union, the United Kingdom, the United States, and the countries known as the "Asian Tigers" are taken as case studies. Based on a comparative analysis of these cases, the most effective instruments for supporting investments in the CCI sector and their impact on the competitiveness of national economies are identified.

DOMINANTS FOR THE NATIONAL ECONOMIES’ COMPETITIVENESS

This article is devoted to innovation as a prerequisite for the national economies' sustainable development and a domain for their global competitiveness. The paper aims to highlight the internal essence of mutual relations between innovation, competition, and economic growth. It was assumed that innovation positively affected the competitive behaviour of economic agents and eventually contributed to an increase in public welfare. Regarding the period from 2007 to 2022, we considered the sample of Central European countries and the Baltic states. Theoretical generalization has been applied to systematize the factors determining competition and innovation. We used statistical methods and comparative analysis to investigate the indicators' dynamics. The interdependencies between macroeconomic dynamics and a set of competition and innovation indicators have been assessed. It was proved that the proportion of medium and high-tech industry value added in the total value added of manufacturing was quite important, yet not the ultimate criterion for ensuring high growth rates and sustainable development. The dynamics of commercial spending on research and development had been ambiguous and unsustainable. To ensure strategic competitiveness, national governments should encourage innovation in their respective business communities. The sampled economies have been examined considering a set of innovation and competition indicators (e.g., gross capital formation, research and development expenditures, logistics performance, export technological structure, carbon dioxide emission, and renewable energy consumption). Considering the implications of globalization, tax burden as an integral characteristic of the national economy's competitiveness has been evaluated as well. It was pointed out that: a) a stable, understandable and transparent tax policy should be implemented to protect the investors' property rights; b) a system of total anti-corruption measures aimed at preventing the practices of receiving undue benefits should be set; and c) the business sector should improve own environmental and social responsibility complexly, introduce resource-saving, green and circular economy.

Internalizing External Accident Costs in Safety Investment Evaluation Using Cost–Benefit Analysis

The primary objectives of transportation system development in European countries include improving transport efficiency, enhancing national economic competitiveness, and promoting sustainable mobility. A key aspect of achieving these goals is the evaluation of transport externalities, particularly external accident costs, which is critical for ensuring the economic and social sustainability of road transport development. This study comprehensively evaluates external road accident costs and proposes an innovative approach to internalizing these costs through a cost–benefit analysis (CBA). By integrating these external costs into CBA, policymakers can better understand the societal impact of road safety investments, allowing for more informed decisions regarding measures to reduce road accidents and fatalities. This paper also explores the role of specific safety investments, such as installing vehicle restrain systems (VRS), buffers, and terminals on the national road network, as well as installing speed cameras, in reducing accidents and mitigating external costs. The findings highlight road safety measures’ importance in enhancing economic efficiency and social well-being, providing a solid foundation for the sustainable and efficient development of transportation systems.

Chinese Multinationals and Europe’s Geoeconomic Turn: The De‐Globalization of the Chinese ICT and Automotive Industry?

Amid increasing geopolitical tensions between Western powers and China over the alleged state-capitalist nature of Chinese corporate internationalization, European governments have introduced a set of political measures tightening their trade and investment regimes on grounds of national security and economic competitiveness. This article analyzes how this “geoeconomic turn” in Europe affected the internationalization of (state-backed) Chinese firms into Europe and hence the establishment of Sino-European corporate relations. With a focus on the Chinese ICT and automotive industries, we zoom in on corporate internationalization by distinguishing two modes: (a) outward foreign direct investments (greenfield investments and mergers and acquisitions) and (b) the formation of collaborative ties (strategic alliances and joint ventures) with European companies—a hitherto underexplored form of Sino-European corporate relations. Our analysis is predicated on a comprehensive dataset consolidating information on both modes of internationalization for the period 2000–2023. We show that, in relation to investment numbers, Chinese companies continue to expand into Europe, even if values are decreasing. We also find that the formation of collaborative ties (strategic alliances and joint ventures) has not halted but increased in the wake of Europe’s geoeconomic turn, indicating a further intensification of Sino-European corporate relations, though under the radar of tightening investment policies and mechanisms. When unpacking the variegated impact of the geoeconomic turn on Chinese companies’ internationalization strategies in Europe, our study also finds, however, that its ramifications vary substantively—not only per sector but also among companies exposed to varying degrees of party-state permeation. Applying a novel fine-grained measure to party-state permeation, the article shows that the geoeconomic turn seems to have affected predominantly those leading Chinese firms with a high party-state exposure.

토픽모델링에 기반한 R&D 투자 포트폴리오 분석 및 예측

Many countries are identifying crucial technologies for national security and economic growth amid global tech competition, crafting cross-departmental strategies to pursue them. We propose a platform for analyzing and predicting R&D investment portfolios based on government R&D project information and investment data to provide scientific evidence for strategic budget allocation. The proposed platform consists of the following four processes. First, topic modeling and project labeling are performed using project-related text data. Second, we propose a method for calculating the importance of each label based on the centered log ratio (CLR) transformation. Third, we predict the label importance for the next year using linear regression and Holt's linear trend method. Fourth, we propose a method for constructing investment portfolio in specific fields. Real data analysis demonstrates the explanability and predictability of the proposed platform by using research project data spanning 11 years from 2012 to 2022. We believe a novelty of the proposed method can contribute to the establishment of data-driven R&D investment portfolios.

Green Logistics Research Review Report

With the rapid development of the social economy, the modern logistics industry is, on the one hand, an important part of supporting the development of the national economy and enhancing the national economic competitiveness. On the other hand, logistics activities are also one of the main factors leading to the deterioration of the ecological environment and the waste of social resources, the development of green logistics has become the key to the transformation of the logistics industry. The article uses CiteSpace software to conduct a quantitative analysis of the literature on the theme of "green logistics", aiming to sort out the knowledge structure and research hot spots in the field of green logistics, summarize the research process of green logistics at home and abroad; secondly, classify the research and development directions of logistics Explore.

Социально-экономическое благополучие как условие формирования потенциального человеческого капитала

The materials of the article are a continuation of a series of the authors’ research devoted to the study of correlation relationship closeness between the level of socio-economic development of the countries and the development of national human capital. Quantitative relationship between the level of socio-economic well-being of the country and development potential of future human capital is the object of attention in the article. Based on the author's interpretation of the concept of "potential human capital" from the standpoint of correlation and regression analysis, influence of socio-economic well-being parameters on the current opportunities of formation and realization of human capital of future generations is considered. Within the framework of the methodological tools of regression analysis, based on calculations of correlation coefficients, there was an attempt to quantify the degree of influence on the dependent variable (potential human capital) of various parameters of socio-economic well–being of countries – per capita income, non-cost characteristics of social development (competitiveness of national economy, level of social progress, level of prosperity, and level of happiness).

The influence of innovative development in the EU countries and Ukraine on the competitiveness of national economies: A comparative analysis

Russian aggression adversely affected the economy of Ukraine and emphasized the need to adapt the best practices of EU countries to determine steps to restore the country’s competitiveness. This study aims to determine the influence of the innovative development of countries on their competitiveness and identify prospects for Ukraine’s post-war economic recovery. The study constructed neural networks to assess the relationships between the factors of innovative development and the competitiveness of the EU countries and Ukraine. Six main factors of innovative development of countries are identified: “innovations in business (S1),” “intellectual property (S2)”, “innovations in industry (S3),” “eco-innovations (S4),” “innovation management (S5),” and “digital innovations (S5).” Groups of factors are determined by the strength of influence (strong, moderate, or weak). For Ukraine, S1 and S6 have a strong effect (33.3%), S5 shows moderate (16.7%), S2, S3, and S4 show weak effects (50%). For EU countries, S1 and S6 have a strong influence, S2 and S3 – moderate, S5 and S4 – weak. This comparative analysis concluded that EU countries consider intellectual property, green economy, and state innovation policy as key components of their competitiveness. The results discovered a weak relationship between intellectual property protection, innovation in industry, and competitiveness of Ukraine compared to EU countries. However, digital innovations significantly and positively affect Ukraine’s competitiveness.

Differentiation of innovation ecosystems of the countries being the Global Innovation Index leaders in the global competitive context

Innovations have become pivotal for the growth and competitiveness of national economies. Generating innovations necessitates a comprehensive ecosystem as a set of conducive conditions. With competition intensifying and focusing on innovation, countries increasingly prioritize the enhancement of their innovation ecosystems. The foundation for this lies in international comparisons, particularly among countries that are global leaders, as it aids in identifying their specific characteristics and advantages. The aim of the study is to differentiate the innovation ecosystems of world-leading countries by highlighting the indicators in which they differ the most.The paper covered the top 15 countries according to the Global Innovation Index, each characterized by 23 indicators in their innovation ecosystems. In the first stage, using mathematical processing (the k-means method), the countries were divided into six clusters. Then, to find the parameters that differentiate the obtained clusters, a classification analysis was conducted (the “decision tree” method), resulting in 11 indicators that, in various pairwise combinations, most differentiate the analyzed countries. These indicators reflect the features and most important advantages (or weaknesses) of each innovation ecosystem and are also priorities for increasing the parameters of these ecosystems to improve the position of countries. It is advisable to use these indicators to form state innovation policy.

The Role of Accountants in Facing Economic Digitalization Towards The Era of Society 5.0

In preparation for the era of Society 5.0, economic digitization has brought drastic changes that have triggered the evolution of the accounting profession. The Society 5.0 zone is seen as an area that encourages interaction between humans, technology and robots to improve the quality of life. Economic digitalization is a global phenomenon that is driving structural changes in the business and financial sectors. In the modern informatics era, technological advances have had a significant impact on accounting practices and strategic decision making by organizations. This research aims to track the development of economic digitalization and provide an overview of the important role of accountants in the context of Society 5.0. The results of this research show that the role of advanced accountants must be broad and flexible in order to participate in the digital revolution that is taking place. Competent and responsive accounting professionals will play a vital role in promoting national economic stability and competitiveness, as the country advances towards Society 5.0.

Behind the Huawei sanction: national security, ideological prejudices or something else?

Digital supremacy is fundamental to national security and global economic competitiveness. An imperative of protecting critical information infrastructure (CII) is the theoretical basis for cybersecurity policies. The cyber competition has the potential to reshape global tech supply chains and international economic governance. The winner will make standards and rules that can take the most advantage of a first mover. The assumption that governments across jurisdictions embrace similar policies, regardless of their ideologies, is not a paradoxical proposition any more in the time of globalisation 2.0. Both the US and China use law enforcement power to advance their national strategic interests. The imposition of sanctions against Huawei is an epitome of the current US–China cyber competition game far beyond the mere economic scenario. This study seeks to explore whether the unilateral approaches would be well justified in a new normal of the decoupling era and how to establish a viable global cyber governance regime.

ІННОВАЦІЙНІ ВИКЛИКИ В ПРОЦЕСІ ЄВРОІНТЕГРАЦІЇ

Changes in the geopolitical context, political movements within countries, new trade agreements, or integration processes create new scenarios and challenges for countries aspiring to Eurointegration. European integration, which has become a key factor in the political, economic, and socio-cultural life of European countries, brings numerous challenges and opportunities. In the process of forming a single market and economic cooperation, participating countries face various challenges that impact social and economic development. Eurointegration entails a country's entry into the European economic space, requiring the implementation of innovative approaches to adapt to European market standards and requirements. Integration into European structures demands an increase in the competitiveness of national economies through innovation in production, services, and management. The Eurointegration processes typically accompany political and legal changes within a country. Innovation can be a crucial factor in implementing necessary reforms and modernizing systems. Eurointegration often involves adaptation to new technological standards and infrastructure, with innovation enabling countries to adjust to these changes. Integration into European structures opens up new opportunities for international cooperation and trade. Innovation can foster the development of collaboration with other countries and regions. The relevance of scientific research lies in the need to address complex challenges arising Вісник Чернівецького торговельно-економічного інституту. 2024. Вип. І (93) 20 from the integration process into European structures, utilizing innovative approaches and innovations. Researching the impact of Eurointegration processes on stimulating innovation in EU member countries is vital. This research could encompass evaluating the effectiveness and adoption of joint innovative policies. Key aspects of innovation challenges in the context of Eurointegration and their impact on the effectiveness and process of integration have been analyzed. This helps to understand the significance of innovation in the entry of countries into European structures and their subsequent development.

Labour Productivity, Wages, and Inflation: Evidence from Selected Central and South-East European Countries

The relationship between inflation, worker wages, and labour productivity growth has been a widely discussed topic among academics in recent decades. Labour productivity is a critical component for maintaining and improving the competitiveness of national economies and establishing sustainable economic growth. The increase in labour productivity serves as the foundation for increasing workers' wages, thereby enhancing their purchasing power and overall well-being. However, empirical data from Southeast European countries indicate that labour productivity growth rates have been insufficient to enable catch-up with their Western European counterparts. Additionally, these countries have experienced significant inflation rates in recent years, resulting in a notable decline in real wages for workers. Therefore, the gap between labour productivity and workers' wages has not only failed to diminish but has, in fact, widened over the past few decades.
 The primary objective of this paper is to examine the interrelationships among labour productivity, workers' wages, and inflation in Central and Southeast European countries, specifically the Balkan EU countries, Balkan non-EU countries, and the Visegrád group of countries. The findings reveal a short-term causality among inflation, labour productivity, and the statutory minimum wage in these three groups of countries. Furthermore, there is evidence of a bidirectional causal relationship running from the minimum wage and inflation to labour productivity, and vice versa, in the short term. Additionally, the introduction of a minimum wage shock significantly influences the future values of labour productivity and inflation. The adverse effects of an externally induced increase in the statutory minimum wage are particularly noticeable in Western Balkan non-EU countries.

The Economics of Education: Investment in Human Capital and Economic Growth

A well-educated populace is a productive and prosperous one, and education is the bedrock of human development. the complex interplay between education, the development of human capital, and economic expansion, with the overarching goal of shedding light on the many moving parts and far-reaching effects of education investment as a motor of economic development. Recognized as a critical factor in a nation's economic competitiveness and resilience, human capital is commonly described as the knowledge, skills, and competences gained via education and training. The need of a well-educated and competent labour force is paramount in this age of fast technological development and worldwide interconnection.

DRIVERS AND BARRIERS OF CROSS-BORDER DIGITAL INVESTMENTS

Modern international competition has an ambiguous impact on the processes of digital transformation, both from the perspective of mastering new digital technologies and in the context of further stimulation of innovation by countries around the world. The article evaluates the prospects for effective management of the changes that arise under the influence of new drivers of the digital transformation of the world economy. The potential and advantages of new digital technologies create new opportunities for achieving the goals of sustainable socio-economic development of the countries of the world and their economic growth. However, for digital transformation, technologies for ensuring, maintaining and increasing the international competitiveness of national economies are of decisive importance.

ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ ЯК ІНДИКАТОР РІВНЯ ЕКОНОМІЧНОГО РОЗВИТКУ КРАЇНИ (НА ПРИКЛАДІ ЧЕСЬКОЇ РЕСПУБЛІКИ)

The article addresses the current issue of researching and analyzing Gross Domestic Product (GDP) as an indicator of national economic competitiveness on a global scale and its impact on the macroeconomic stability of the Czech Republic. The authors emphasize the importance of GDP analysis for effective economic management, planning, forecasting, and ensuring macroeconomic stability. The study is based on a review of previous research and publications by both Ukrainian and foreign scholars. As a result, the concept of Gross Domestic Product (GDP) is thoroughly analyzed, with three main aspects of the concept elucidated: "gross," "domestic," and "product." Furthermore, the article provides crucial explanations to enhance comprehension of the GDP concept. Moreover, the article extensively analyzes the dynamics of nominal and real Gross Domestic Product (GDP) of the Czech Republic from 2016 to 2022. Special attention is given to the impact of the COVID-19 pandemic on the Czech economy and its adverse effects in 2020. The causes of GDP decline are highlighted, along with data on economic recovery at the end of 2020 and an assessment of GDP dynamics in 2021 and 2022. The significance of evaluating GDP growth rates and their potential implications for the Czech economy are underscored, as well as the importance of GDP per capita as an indicator of Czech economic competitiveness and the country's position in the GDP per capita ranking. Additionally, the article examines the impact of declining household consumption on Czech GDP due to inflation and low investments. The methodology of correlation-regression analysis is employed to identify trends in GDP dynamics, along with projected GDP values for 2024 and 2025. It is noted that the main drivers of Czech economic growth should be the export activities of companies and the recovery of household demand. However, further research is needed to explore the analysis of GDP dynamics as an indicator of macroeconomic stability, its impact on forming global competitiveness rankings, and positioning the Czech Republic in the global economic community.

DEMAND DRIVEN UNIVERSITY EDUCATION PROVISION: IMPLICATIONS FOR EQUITY AND QUALITY

The established link between higher education attainment and individual socio-economic prosperity explains to a large extent the continued increase in private and social investment in education. It is the driver of growth in established higher education institutions and in the number of students enrolled. Many research reports on the status of education reveal the intensity in efforts to address issues underlying the poor quality of education. It is generally agreed that universities are entrusted with the task of generating knowledge of appropriate quality, and to making this knowledge availability to a wide population in order to support national economic competitiveness. But the issue of forces driving demand for higher education and their capacity to distort access to opportunities stand out. As nations endeavour to expand access to higher education, challenges of inadequate resource provision constrain access to opportunities for students with certain unique attributes. Overall national socio-economic development requires that education provision be inclusive to cover students with unique characteristics including the marginalised. Participation of those with attributes defined vulnerabilities should be a pre-requisite to quality assessments. This paper therefore examines university education demand trends in Kenya and how they related to students’ characteristics. Descriptive survey designs were used. A sample of 524 respondents was drawn from among the twenty-two public and eighteen private chartered universities. Data was analysed using frequency tables and percentages, and means; hypotheses were tested using ANOVA, with all statistical tests done at α=0.05 level of significance. Results showed that overall demand for education was on the increase in public universities, but declining in private universities. Disparities in demand by gender were observed with more males accessing university places. Consequences of increased demand for university education included high workloads for lecturers, and congested facilities. These findings are important to educators, education planners, institution managers who are charged with devising mechanisms and processes that address issues of quality and equity in demand for university education.

Antecedents to Thai Consumer Insurance Policy Purchase Intention: A Structural Equation Model Analysis

This study delves into the factors influencing consumer purchase intention of Thai insurance company policies, focusing on service quality, corporate image, perceived value, and insurance technology. Employing a quantitative approach and multi-stage random sampling, the study selected 440 consumers from 10 Thai insurance agencies in January 2022, using a Google Form link distributed via social media for data collection. The structural equation model path analysis was conducted using LInear Structural RELations (LISREL) 9.1, complemented by descriptive statistics analysis in Statistical Package for the Social Sciences (SPSS) for Windows Version 21. Expert input informed adjustments to questionnaire items, and a pilot test with 35 participants ensured item reliability. The results reveal that insurance technology (0.68), corporate image (0.54), perceived value (0.53), and service quality (0.34) were all influential factors affecting purchase intention, collectively explaining 76% of the variance ( R2). Seven of the nine hypotheses tested found support, with the corporate image-perceived value relationship proving the strongest, followed by a moderately strong association between perceived value and insurance technology. Among the 25 observed variables, the quality of services and data standards provided by service quality stood out, with consumers valuing clear, concise, and convenient services as pivotal for agency satisfaction. This research contributes to the existing literature by offering post-COVID-19 insights into consumer insurance purchase intentions in Asia. It also provides valuable knowledge for policymakers and regulators seeking to enhance their sectors and strengthen national economic competitiveness.

Державне регулювання процесу ініціювання інноваційних проектів за умов обмеженого фінансування

Державне регулювання процесу ініціювання інноваційних проектів за умов обмеженого фінансування

Planning a Risk Management System for PPP projects to Increase the Competitiveness of Business Structures

This article addresses the critical need for effective public-private partnership (further - PPP) models amidst economic, social, and political challenges in Kazakhstan. The results of the study are aimed at improving the identification of risks for making informed decisions. It delves into scientific achievements relevant to assessing business activity and nurturing entrepreneurial culture. Employing comparative analysis, the research examines domestic PPP practices, drawing insights from statistical data. The findings emphasize PPP's role in ensuring national economic competitiveness, with legislative improvements positively impacting growth. The analysis of foreign practices critically examines the evolution of public-private partnership (PPP) development in Kazakhstan by juxtaposing it with the experiences of leading nations. The United Kingdom has demonstrated successful partnership models based on transparency, clear terms, and mutually beneficial relationships, serving as an example for Kazakhstan in enhancing collaboration between the public and private sectors. The SWOT analysis identifies inefficiencies, stressing the importance of transparent project teams and systematic risk management. Sectoral insights highlight a decline in private sector involvement, emphasizing the need for regulatory improvements and risk reduction in PPP implementations. The study emphasizes PPP's indispensable role in Kazakhstan's socio-economic development, advocating for continuous reforms and advanced risk management. The proposed PPP project management algorithm aims to foster efficiency, address challenges, and stimulate economic activity, paving the way for sustainable infrastructure development.