Competitiveness and Economic Development in Europe Prospects and Challenges Routledge Studies in the European Economy Series

The success of an economy to adapt quickly, flexibly, and effectively to the demands of the changing international economic environment can only be investigated using the achievements of other national economies or regions as a benchmark. This book analyzes the fundamental factors of competitiveness, which will, in turn, facilitate economic development and growth, in the new post-crisis environment. In the economic, social, legal, and technological environment that has emerged in recent years, as well as in the period after the recent financial crisis, it is critical to define, assess, and implement new pathways to competitiveness and economic development.

The book covers all aspects of competitiveness and economic growth, from financial intermediaries to tourism and the digital economy, and from regulation and corporate governance to exchange rate dynamics and monetary policy issues. It uses empirical findings from a variety of different countries with divergent economic structures and policies. It examines the new system of production, and the technological, commercial, financial and institutional environment, with the aim of recommending a proportional division of benefits and costs of economic growth. It offers a fresh, holistic, and flexible concept to underscore the new relationship between competitiveness and economic growth. Such an approach is needed, whereby competitiveness is no longer a zero-sum game between countries, but is achievable for all countries.

The book recommends future directions and offers policy solutions, and as such, will appeal to students, researchers, and policymakers, as well as those interested in the role of competitiveness in the operation of markets, productivity, and economic development, and how it might foster innovation and growth.

Part I: Determinants of competitiveness, economic growth and development 1. The linkage between entrepreneurship, competitiveness, innovativeness and economic growth: A theoretical approach 2. Total factor productivity and patents: An ambivalent link 3. The mediating role of institutions on the distributive effects of financial development 4. The influence of the effectiveness of the monetary policy of the European Central Bank on the EUR/USD exchange rate between 1999 and 2019 5. Development of Stock Markets in Selected Countries in the 21st Century 6. Output gap measurement: How sensitive are the European Commission’s estimates for the Greek economy? 7. Personal income tax progressivity and output volatility in Poland Part II: Competitiveness of economies 8. The evolution of the real weighted exchange rate and its impact on Greek export performance 9. Poland on the path of competitiveness growth 10. International competitiveness and the impact of globalisation and technology on economic growth and welfare 11. Competitiveness in developing countries in the age of industry 4.0: The case of Turkey 12. Digital competitiveness of the European Union vs. USA and China: Assessment and implications 13. Macro-financial linkages in the Polish economy Part III: Competitiveness and development of the economy sectors 14. Information Policies of Central Banks and Asymmetry of Information in Financial Markets 15. Competition in the Polish non-life insurance market 16. Corporate Social Responsibility (CSR) and Financial Results of Insurance Companies 17. CSR Reporting as a Factor of Insurance Companies' Competitive Advantage 18. The competitiveness of Slovakia as a destination in the international tourism market 19. Competitive development: A case study of “Airbnb” and its impact on the tourism economy 20. Competitiveness and challenges for Greek civil servants after the crisis Part IV: Competitiveness and development of enterprises 21. Changes, evolution, revolution and adaptation of business models: Theoretical implications 22. Changes, evolution, and adaptation of the business model of Polish service enterprises: Results 23. Corporate Governance as a dynamic system: The growing role of boards in strategic decision-making processes: The case of Poland 24. The concept of Corporate Social Responsibility as a source of an enterprise's competitive advantage 25. The impact of the integrated management system ERP on building competitive advantage of enterprises

Sławomir I. Bukowski is Full Professor of Economics and Finance at Kazimierz Pulaski University of Technology and Humanities, Poland.

Alina Hyz is Professor of Business Administration at the University of West Attica, Greece.

Marzanna B. Lament is an Associate Professor at the Department of Finance and Insurance, Kazimierz Pułaski University of Technology and Humanities, Poland.