Application of Econometric Panel Data Model for Regional Competitiveness Evaluation of Selected EU 15 Countries
Melecký Lukáš, Nevima Jan
Keywords:
competitiveness, EU15, NUTS 2 region, macro econometric modelling, panel data model
Abstract:
The aim of the paper is to create an econometric panel data model with techniques using
dummy variables for simplification of regional competitiveness evaluation in selected EU 15
countries. The theoretical background of the paper is based on the knowledge of theoretical
concept and issues of regional competitiveness and productivity in the context of growth
theories. The empirical part of the paper is focused on the application of nonlinear panel
data regression model for 35 regions at NUTS level 2 of selected EU15 countries. The level
of regional competitiveness is analyzed by selected indicators that evaluate the performance
of the objectives of the EU growth strategies. Selection of explanatory variables in the panel
data model appropriately reflects the level of competitive potential in NUTS 2 regions of selected
EU 15 countries in the reference period 2000 - 2008. The use of econometric panel
data model seems to be appropriate, since it better captures the dynamics of changes and the
fixed or stochastic effects that have occurred in the proposed explanatory variables. Based on
the estimation of the panel data model, econometric and economic verification, the final part
of the paper makes a comparison of results for all explanatory variables in NUTS 2 regions,
which are cross-sectional and time used to determine the order of influence of each NUTS 2
region of selected EU 15 countries to the overall competitiveness of the European Union. For
the purposes of the model, the overall EU competitiveness is approximated with the average
volume of GDP per capita in PPS for 271 NUTS 2 regions in EU 27, in accordance with the
NUTS 2006 classification methodology.
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 Application of Econometric Panel Data Model for Regional Competitiveness Evaluation of Selected EU 15 Countries [PDF file] [Filesize: 1.43 MB]
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