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Added value in the transport sector at the time before COVID-19 pandemic: a comparison of the EU countries

Author

Listed:
  • Yaroslava Kostiuk

    (University of Žilina, Slovakia)

  • Yaroslava Kostiuk

    (Institute of Technology and Business in České Budějovice, Czech Republic)

  • Veronika Kohútová

    (University of Prešov, Slovakia)

  • Jarmila Straková

    (Institute of Technology and Business in České Budějovice, Czech Republic)

  • Nadežda Koleda

    (Riga Technical University, Latvia)

Abstract

The COVID-19 pandemic has had a significant impact on the generation of added value within national economies. Generation of added value in the transport sector is an important factor in manufacturing products and providing services in the environment of the national economies. The globalisation of production has made the transport sector one of the main sectors enabling and accelerating the process of generating added value in all other sectors. The objective of the contribution is to determine which EU-28 countries made the most effective investments in research and development (R&D) in order to achieve the highest possible value added of the state within the transport sector in the years 2012-2017. For the purposes of the analysis, regression model and the method of artificial neural networks were used. Our research identified a high differentiation in terms of the volume of investments in R&D participating in the creation of added value in the transport sector. The results of the analysis identified the EU-28 member states which achieved the optimal share of investments made in R&D and generated added value in the monitored period. Since each country has its priorities related to its goals and geographical location, the determined optimum is only indicative value of investment for a specific country but not a recommended value for all other states.

Suggested Citation

  • Yaroslava Kostiuk & Yaroslava Kostiuk & Veronika Kohútová & Jarmila Straková & Nadežda Koleda, 2021. "Added value in the transport sector at the time before COVID-19 pandemic: a comparison of the EU countries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(2), pages 303-315, December.
    • Handle: RePEc:ssi:jouesi:v:9:y:2021:i:2:p:303-315
    DOI: 10.9770/jesi.2021.9.2(20)
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    More about this item

    Keywords

    added value; investments in research and development; transport sector; COVID-19;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General

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