A competitive economy as the path to future prosperity: Comparative analysis of selected European countries

Abstract

The developed economies, beside to global economic indicators, path the complete nation’s quality of life, through competitiveness or prosperity indices. There are many evaluations which are concentrated on estimation of overall competitiveness, but there are noticeable disparities in the methodology and research results between them. Therefore, the aim of this article is to investigate the interdependence among variables of prosperity that constitute a competitive economy and present findings of comparative analysis in selected European countries with special focus on prosperity index. More clearly, aim is to compare variations of selected indices to indicate the most significant indicators which influence the final results. The most important intercorrelations between variables and indices of prosperity are presented. Comparative analysis of selected countries was employed by statistical software package SPSS 23. Recognition the differences between economic indicators and identification of weaknesses is the foundation for the successive acceptance of relevant actions to prosper the critical fields. Improvement of these areas could enhance future prosperity of the economy.

Keywords

• competitive economy
• future prosperity
• European countries