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THE POSITION OF SLOVAKIA IN THE CONTEXT OF THE GLOBAL COMPETITIVENESS INDEX WITHIN THE VISEGRAD GROUP

B. Sofrankova, D. Kiselakova, E.Sira, V. Cabinova

Abstract

In today’s globalized world there is a growing importance of regulatory, legislative and institutional frameworks. On the basis of these conditions, the particular national economies may affect the overall competitiveness of the economy not only by production factors but also by creating frameworks that directly affect the production costs and input prices through various taxes, grants or fund contributions. In the context of ensuring the long-term prosperity of each country, the more and more emphasis is placed on the mutual comparison of the nation’s competitiveness in the European or world area. Currently, various initiatives classifying competitiveness at regional, national or transnational level are created. This article is aimed on the development and mutual comparison of competitiveness of Slovakia and the Visegrad Group (Slovak Republic, Czech Republic, Poland and Hungary) within the competitiveness analysis by using the GCI indicator over the years 2006 – 2016. In the course of processing the analyses we used secondary data completed by the World Economic Forum and published in the annual Global Competitiveness Reports. The analysis was focused especially on the comparison and detection of mutual links between the GCI indicator and its individual pillars by using the correlation analysis.

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