Competitiveness of the Selected Countries of the EU with a Focus on the Quality of the Business Environment
Zuzana Hajduova, Jana Coronicova Hurajova, Marian Smorada, Ludovit Srenkel
Keywords:
business environment, competitiveness, multicriteria analysis, TOPSIS, WSA
Abstract:
The business environment and entrepreneurship are important elements in the economic growth
of each country. The better the business environment a given country offers, the more attractive
the country is for small and large companies as well as for private entrepreneurs. A high level of
business competitiveness can help a country secure economic growth, especially after overcoming
a crisis such as the COVID-19 pandemic. Many institutions focus on the measurement of the
business environment using indices to evaluate its quality. The main goal of the present study is
to evaluate the quality of the business environment through multicriteria analysis. For the period
from 2018 to 2020, the data were analysed by using seven selected indices of the weighted sum
approach (WSA) and the technique for order preference by similarity to ideal solution (TOPSIS)
methods. The research sample included all EU countries that joined the EU at the same time
in 2004. The processing of analytical data was gradually implemented by using descriptive
statistics and multicriteria evaluation methods. The methods used in the multicriteria evaluation
of variants determined the rankings of the individual variants in terms of the selected criteria
using entropy. We concluded that the efficiency of the business environments in Cyprus, the
Czech Republic, Estonia, Hungary, Poland, Latvia, Lithuania, Slovakia and Slovenia are below
the EU average. Within this group of countries, Estonia, Malta and Slovenia have seen the largest
regeneration of their business environment since having joined the EU.
Fulltext download:
 Competitiveness of the Selected Countries of the EU with a Focus on the Quality of the Business Environment [PDF file] [Filesize: 1.33 MB]
 10.7441/joc.2021.04.03
Hajduova, Z., Coronicova Hurajova, J., Smorada, M., & Srenkel, L (2021). Competitiveness of the
Selected Countries of the EU with a Focus on the Quality of the Business Environment. Journal of
Competitiveness, 13(4), 43–59. https://doi.org/10.7441/joc.2021.04.03
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