Country’s economic competitiveness increasing within innovation component

Economic Annals-ХХI: Volume 154, Issue 9-10, Pages: 32-35

Citation information:
Yurynets, Z., Bayda, B., & Petruch, О. (2015). Country’s economic competitiveness increasing within innovation component. Economic Annals-XXI, 9-10, 32-35. https://ea21journal.world/index.php/ea-v154-07/

Zoryna Yurynets
PhD (Economics),
Associate Professor,
Ivan Franko National University of Lviv
18 Svobody Ave., Lviv, 79000, Ukraine
zoryna_yur@ukr.net

Bogdana Bayda
PhD (Economics),
Associate Professor,
Academy of Recreational Technologies and Law
2 Karbyshev Str., Lutsk, 243023, Ukraine
bogdanapravo@ukr.net

Оksana Petruch
PhD Student (Economics)
Ivan Franko National University of Lviv
18 Svobody Ave., Lviv, 79000, Ukraine
roxana7700@gmail.com

Country’s economic competitiveness increasing within innovation component

Abstract. Current debates in the area of international management suggest that the notions of competitiveness of the country’s economy and increase of the country’s economic competitiveness are the important determinants of international management policies and practices. The factors influencing the competitiveness of countries have not yet been analyzed widely enough in the scientific circles. Thus, we have carried out a detailed elaboration, concretization and generalization of the results of scientific research on the most relevant issues concerning the increase of competitiveness of the country’s economy. The purpose of this study is to determine the factors of competitiveness and establish the relationship between factors that improve competitiveness. The main factors contributing to the negative trends of innovation development of Ukraine have been allocated. Further, we have determined the main factors prompting the country’s economic competitiveness. A structural and logic relationship model for the increase of the country’s economic competitiveness has been formed. Factors that boost economic competitiveness must be considered as a combination of all elements. This will contribute to the increase of economic efficiency of the country’s development potential. Factors of competitiveness, which are based on reinforced action of technological progress due to the creation and application of new technologies, knowledge and various innovations in all spheres of life, are subject to constant change and complemented by new factors. Theoretical propositions, identified to determine the factors influencing competitiveness are presented in the study. The structural and logic relationship model between factors, increasing competitiveness is expected to improve the management of the country’s economic competitiveness, to secure the increasing level of economic competitiveness, and to be used in the theory and practice of international management.

Keywords: Economic Competitiveness; Competitiveness Factors; Global Competitiveness Index; Global Innovation Index

JEL Classification: O10; O30; O57

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Received 23.09.2015