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Intelligent Growth and Macroeconomic Performance of EU Member Countries in the Framework of Europe 2020

Author

Listed:
  • Papailiou Paraskevi
  • Komninos Dimitrios
  • Dermatis Zacharias
  • Anastasiou Athanasios
  • Liargovas Panagiotis

Abstract

Europe 2020 is the new ten-year strategy of the European Union for smart, sustainable and inclusive growth. This work analyzes the role of smart growth within the Europe 2020 strategy. "Smart growth" means strengthening knowledge and innovation by improving the quality of education, enhancing research performance, promoting innovation and transferring knowledge across the EU. In this study we create a thematic smart growth index, which consists of individual indicators proposed by the European Commission and presents the ranking of EU member countries in this index. The composite indicator of Europe 2020 by Pasimeni (2011) is taken as the basis for the creation of the indicator. Then, with the help of regression models, the relationship between the index and some macroeconomic variables is examined to examine the impact of the variables on the performance of the E-28 countries and their overall competitiveness. The results show that macroeconomic indicators of public finances, such as the rate of change in GDP per capita, government debt and deficit levels, are not key success factors for smart growth.

Suggested Citation

  • Papailiou Paraskevi & Komninos Dimitrios & Dermatis Zacharias & Anastasiou Athanasios & Liargovas Panagiotis, 2018. "Intelligent Growth and Macroeconomic Performance of EU Member Countries in the Framework of Europe 2020," Applied Economics and Finance, Redfame publishing, vol. 5(4), pages 117-126, July.
    • Handle: RePEc:rfa:aefjnl:v:5:y:2018:i:4:p:117-126
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    References listed on IDEAS

    as
    1. Pasimeni, Paolo, 2011. "Measuring Europe 2020: a new tool to assess the strategy," MPRA Paper 53508, University Library of Munich, Germany, revised 02 Mar 2012.
    2. P. Heuse & H. Zimmer, 2011. "The Europe 2020 strategy," Economic Review, National Bank of Belgium, issue ii, pages 21-45, September.
    3. Gros, Daniel & Roth, Felix, 2012. "The Europe 2020 Strategy: Can it maintain the EU’s competitiveness in the world?," CEPS Papers 7260, Centre for European Policy Studies.
    4. Mehmet Çolak & Aylin Ege, 2013. "An Assessment of EU 2020 Strategy: Too Far to Reach?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 110(2), pages 659-680, January.
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    More about this item

    Keywords

    smart growth; Europe 2020; Europe 2020 indicator; macroeconomic variables;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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