IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v9y2017i7p1230-d104550.html
   My bibliography  Save this article

Measuring Sustainable Competitiveness in Contemporary Economies—Insights from European Economy

Author

Listed:
  • Gheorghe H. Popescu

    (Department of Finance and Banking, Dimitrie Cantemir Christian University, Bucharest 030134, Romania)

  • Violeta Sima

    (Business Administration, Petroleum-Gas University of Ploiesti, Ploiesti 100680, Romania)

  • Elvira Nica

    (Business Administration, Bucharest University of Economic Study, Bucharest 010374, Romania)

  • Ileana Georgiana Gheorghe

    (Business Administration, Petroleum-Gas University of Ploiesti, Ploiesti 100680, Romania)

Abstract

The recent transformation of the national economies has raised numerous theoretical and practical aspects in measuring economic growth, welfare, environmental performance, and competitiveness, representing a challenging research topic within the context of economic paradigm transformation. Despite its importance, a fully operational model to be used in any context has not yet been designed. The main aim of this paper is to evaluate and analyze the macroeconomic dimension of the three determinants of sustainable competitiveness: the economic environment, the social environment, and the natural environment, at both the European and Romanian levels. This paper used the Hierarchical Clustering methodology, aiming at evaluating the global competitiveness in terms of a sustainable development model, using four indices: Human Development Index, Environmental Performance Index, Global Competitiveness Index, and GDP per capita. The clusters were designed on the basis of the role of the indices in assessment of the sustainable performances of the countries and also of the possible convergences between them. The results could sustain the conclusion that these indices are not able to offer an exhaustive image of the sustainable performances assessment. A new complex indicator could be considered in order to design a convergence model for the EU member states.

Suggested Citation

  • Gheorghe H. Popescu & Violeta Sima & Elvira Nica & Ileana Georgiana Gheorghe, 2017. "Measuring Sustainable Competitiveness in Contemporary Economies—Insights from European Economy," Sustainability, MDPI, vol. 9(7), pages 1-26, July.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:7:p:1230-:d:104550
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/9/7/1230/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/9/7/1230/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Molyneaux, Lynette & Brown, Colin & Wagner, Liam & Foster, John, 2016. "Measuring resilience in energy systems: Insights from a range of disciplines," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 1068-1079.
    2. Alecu Alexandra & Dusmanescu Dorel, 2016. "Approaches On Measuring Sustainable Development In Contemporary World – Beyond Classical Indicators," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 40-48, June.
    3. Daly, Herman E., 1992. "Allocation, distribution, and scale: towards an economics that is efficient, just, and sustainable," Ecological Economics, Elsevier, vol. 6(3), pages 185-193, December.
    4. William D. Nordhaus & James Tobin, 1973. "Is Growth Obsolete?," NBER Chapters, in: The Measurement of Economic and Social Performance, pages 509-564, National Bureau of Economic Research, Inc.
    5. Azar, Christian & Holmberg, John, 1995. "Defining the generational environmental debt," Ecological Economics, Elsevier, vol. 14(1), pages 7-19, July.
    6. Molyneaux, Lynette & Brown, Colin & Foster, John & Wagner, Liam, 2015. "Measuring resilience to energy shocks," MPRA Paper 64568, University Library of Munich, Germany.
    7. Gabriel POPESCU & Dan BOBOC & Mirela STOIAN & Alina ZAHARIA & Georgiana Raluca LADARU, 2017. "A Cross-Sectional Study of Sustainability Assessment," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(1), pages 21-36.
    8. Hamilton, Kirk & Atkinson, Giles, 1996. "Air pollution and green accounts," Energy Policy, Elsevier, vol. 24(7), pages 675-684, July.
    9. Giles Atkinson & Richard Dubourg & Kirk Hamilton & Mohan Munasinghe & David Pearce & Carlos Young, 1997. "Measuring Sustainable Development," Books, Edward Elgar Publishing, number 1242.
    10. Costanza, Robert & Patten, Bernard C., 1995. "Defining and predicting sustainability," Ecological Economics, Elsevier, vol. 15(3), pages 193-196, December.
    11. Daly, Herman E., 1990. "Toward some operational principles of sustainable development," Ecological Economics, Elsevier, vol. 2(1), pages 1-6, April.
    12. Adam Rose & Shu‐Yi Liao, 2005. "Modeling Regional Economic Resilience to Disasters: A Computable General Equilibrium Analysis of Water Service Disruptions," Journal of Regional Science, Wiley Blackwell, vol. 45(1), pages 75-112, February.
    13. Glenn Milligan, 1979. "Ultrametric hierarchical clustering algorithms," Psychometrika, Springer;The Psychometric Society, vol. 44(3), pages 343-346, September.
    14. Eisner, Robert, 1988. "Extended Accounts for National Income and Product," Journal of Economic Literature, American Economic Association, vol. 26(4), pages 1611-1684, December.
    15. Hamilton, Kirk, 1994. "Green adjustments to GDP," Resources Policy, Elsevier, vol. 20(3), pages 155-168, September.
    16. Daniela Ruxandra Andrei & Rodica-Manuela Gogonea & Marian Zaharia & Jean-Vasile Andrei, 2014. "Is Romanian Rural Tourism Sustainable? Revealing Particularities," Sustainability, MDPI, vol. 6(12), pages 1-13, December.
    17. Claudia BENTOIU & Cristina BALACEANU & Diana APOSTOL, 2012. "The Characterization Of The State And The Evolution Of The Romanian Economy In The Years 2000-2010. The Main Statistical Indicators," Romanian Statistical Review, Romanian Statistical Review, vol. 60(3), pages 64-89, April.
    18. Gheorghe ZAMAN & Valentina VASILE, 2014. "Conceptual framework of economic resilience and vulnerability,at national and regional levels," Romanian Journal of Economics, Institute of National Economy, vol. 39(2(48)), pages 5-18, December.
    19. repec:bla:revinw:v:40:y:1994:i:3:p:251-72 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dana Kiseľáková & Beáta Šofranková & Veronika Čabinová & Erika Onuferová, 2018. "Competitiveness and sustainable growth analysis of the EU countries with the use of Global Indexes' methodology," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(3), pages 581-599, March.
    2. Alexandru Pavel & Octavian Moldovan, 2019. "Determining Local Economic Development in the Rural Areas of Romania. Exploring the Role of Exogenous Factors," Sustainability, MDPI, vol. 11(1), pages 1-24, January.
    3. Grzegorz Zimon & Dulal Chandra Pattak & Liton Chandra Voumik & Salma Akter & Funda Kaya & Robert Walasek & Konrad Kochański, 2023. "The Impact of Fossil Fuels, Renewable Energy, and Nuclear Energy on South Korea’s Environment Based on the STIRPAT Model: ARDL, FMOLS, and CCR Approaches," Energies, MDPI, vol. 16(17), pages 1-21, August.
    4. Xiafang Hong & Cheng He, 2022. "Farmers’ Perception of Tourism in Sustainable Development of Forests and Their Decisions in China: The Sustainability of the Prism Model and SEM Model," Sustainability, MDPI, vol. 14(24), pages 1-15, December.
    5. Alic Bîrcă & Christiana Brigitte Sandu & Igor Matveiciuc, 2023. "Determinants of Public Institutions Competitiveness: Case Study of the Republic of Moldova," Administrative Sciences, MDPI, vol. 13(10), pages 1-25, September.
    6. Petrevska, Biljana & Mihalič, Tanja, 2020. "(Un)Sustainable And (Ir)Responsible Tourism In Ohrid: Residents’ Perception," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 11(2), pages 202-212.
    7. Natālija Cudečka-Puriņa & Dzintra Atstāja & Viktor Koval & Māris Purviņš & Pavlo Nesenenko & Oleksandr Tkach, 2022. "Achievement of Sustainable Development Goals through the Implementation of Circular Economy and Developing Regional Cooperation," Energies, MDPI, vol. 15(11), pages 1-18, June.
    8. Dohyung Kim & Sun Go, 2020. "Human Capital and Environmental Sustainability," Sustainability, MDPI, vol. 12(11), pages 1-14, June.
    9. João Thiago de G. A. A. Campos & Renato de Castro Vivas & Adonias Magdiel Silva Ferreira & Francisco Gaudêncio Mendonça Freires, 2020. "Operational Decisions and Sustainability: A Brazilian Case of a Drugs Distribution Center," Sustainability, MDPI, vol. 12(21), pages 1-17, October.
    10. Andrea Okanović & Jelena Ješić & Vladimir Đaković & Simonida Vukadinović & Andrea Andrejević Panić, 2021. "Increasing University Competitiveness through Assessment of Green Content in Curriculum and Eco-Labeling in Higher Education," Sustainability, MDPI, vol. 13(2), pages 1-20, January.
    11. Ana-Maria Zamfir & Cristina Mocanu & Adriana Grigorescu, 2018. "Resilient Entrepreneurship among European Higher Education Graduates," Sustainability, MDPI, vol. 10(8), pages 1-24, July.
    12. Cristian Socol & Marius Marinas & Aura Gabriela Socol & Dan Armeanu, 2018. "Fiscal Adjustment Programs versus Socially Sustainable Competitiveness in EU Countries," Sustainability, MDPI, vol. 10(10), pages 1-17, September.
    13. Bakhtmina Zia & Muhammad Rafiq & Shahab E. Saqib & Muhammad Atiq, 2022. "Agricultural Market Competitiveness in the Context of Climate Change: A Systematic Review," Sustainability, MDPI, vol. 14(7), pages 1-22, March.
    14. Thadathibesra Phuthong & Pongpun Anuntavoranich & Achara Chandrachai & Krerk Piromsopa, 2022. "Developing and Validating an Assessment Scale to Measure the Competitiveness of Wellness Destinations," Sustainability, MDPI, vol. 14(7), pages 1-27, March.
    15. Biggeri, Mario & Bortolotti, Luca & Saccone, Donatella & Tassinari, Mattia, 2023. "Policy and political challenges for a better world: The United States and China pathways towards the 2030 Agenda," Ecological Economics, Elsevier, vol. 209(C).
    16. Kara, Karahan & Yalçın, Galip Cihan & Acar, Avni Zafer & Simic, Vladimir & Konya, Serkan & Pamucar, Dragan, 2024. "The MEREC-AROMAN method for determining sustainable competitiveness levels: A case study for Turkey," Socio-Economic Planning Sciences, Elsevier, vol. 91(C).
    17. Biljana Petrevska & Aleksandra Terzić & Cvetko Andreeski, 2020. "More or Less Sustainable? Assessment from a Policy Perspective," Sustainability, MDPI, vol. 12(8), pages 1-16, April.
    18. Sue Ling Lai & Du-Nin Chen, 2020. "A Research on the Relationship between Environmental Sustainability Management and Human Development," Sustainability, MDPI, vol. 12(21), pages 1-20, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dietz, Simon & Neumayer, Eric, 2007. "Weak and strong sustainability in the SEEA: Concepts and measurement," Ecological Economics, Elsevier, vol. 61(4), pages 617-626, March.
    2. Hoff, Jens V. & Rasmussen, Martin M.B. & Sørensen, Peter Birch, 2021. "Barriers and opportunities in developing and implementing a Green GDP," Ecological Economics, Elsevier, vol. 181(C).
    3. Eric Neumayer, 2004. "Sustainability and Well-being Indicators," WIDER Working Paper Series RP2004-23, World Institute for Development Economic Research (UNU-WIDER).
    4. Kohn, Jorg, 1998. "Thinking in terms of system hierarchies and velocities. What makes development sustainable?," Ecological Economics, Elsevier, vol. 26(2), pages 173-187, August.
    5. Giles Atkinson & Kirk Hamilton, 2007. "Progress along the path: evolving issues in the measurement of genuine saving," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(1), pages 43-61, May.
    6. Adrian Boos, 2015. "Genuine Savings as an Indicator for “Weak” Sustainability: Critical Survey and Possible Ways forward in Practical Measuring," Sustainability, MDPI, vol. 7(4), pages 1-37, April.
    7. Köhn, Jörg, 1996. "Thinking in Terms of System Hierarchies and Velocites. What makes Development Sustainable?," Thuenen-Series of Applied Economic Theory 04, University of Rostock, Institute of Economics.
    8. Lawn, Philip, 2013. "The failure of the ISEW and GPI to fully account for changes in human-health capital — A methodological shortcoming not a theoretical weakness," Ecological Economics, Elsevier, vol. 88(C), pages 167-177.
    9. David Pearce & Giles Atkinson, 1998. "Concept of sustainable development: An evaluation of its usefulness 10 years after Brundtland," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 1(2), pages 95-111, December.
    10. Jeroen C.J.M. van den Bergh, 2007. "Abolishing GDP," Tinbergen Institute Discussion Papers 07-019/3, Tinbergen Institute.
    11. Daniel Ştefan Armeanu & Georgeta Vintilă & Ştefan Cristian Gherghina, 2017. "Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries," Sustainability, MDPI, vol. 10(1), pages 1-22, December.
    12. Kirk Hamilton, 2003. "Sustaining Economic Welfare: Estimating Changes in Total and Per Capita Wealth," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 5(3), pages 419-436, September.
    13. Lawn, Philip & Clarke, Matthew, 2010. "The end of economic growth? A contracting threshold hypothesis," Ecological Economics, Elsevier, vol. 69(11), pages 2213-2223, September.
    14. Ropke, Inge, 2005. "Trends in the development of ecological economics from the late 1980s to the early 2000s," Ecological Economics, Elsevier, vol. 55(2), pages 262-290, November.
    15. Beça, Pedro & Santos, Rui, 2010. "Measuring sustainable welfare: A new approach to the ISEW," Ecological Economics, Elsevier, vol. 69(4), pages 810-819, February.
    16. Christopher House & John Laitner & Dmitriy Stolyarov, 2008. "Valuing Lost Home Production Of Dual Earner Couples," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 49(2), pages 701-736, May.
    17. Gowdy, John M. & Ferreri Carbonell, Ada, 1999. "Toward consilience between biology and economics: the contribution of Ecological Economics," Ecological Economics, Elsevier, vol. 29(3), pages 337-348, June.
    18. Ian Moffatt, 2013. "Measuring sustainable development," Chapters, in: M. A. Quaddus & M. A.B. Siddique (ed.), Handbook of Sustainable Development Planning, chapter 3, pages 39-60, Edward Elgar Publishing.
    19. Rennings, Klaus & Koschel, Henrike, 1995. "Externe Kosten der Energieversorgung und ihre Bedeutung im Konzept einer dauerhaft-umweltgerechten Entwicklung," ZEW Dokumentationen 95-06, ZEW - Leibniz Centre for European Economic Research.
    20. Francesco Burchi & Chiara Gnesi, 2016. "A Review of the Literature on Well-Being in Italy: A Human Development Perspective," Forum for Social Economics, Taylor & Francis Journals, vol. 45(2-3), pages 170-192, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:9:y:2017:i:7:p:1230-:d:104550. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.