General Analysis of Sustainable Competitiveness in Nine Central and Eastern European Countries Over Ten Years

Abstract

At the national level, competitiveness is at the heart of economic policy decisions, but it needs to be considered alongside the concept of sustainability. This is because, in the long term, only those economic policy choices that can increase competitiveness in a sustainable way while preserving the natural, social and economic assets of the nation concerned will be the right ones. In our study, we have conducted a secondary research based on empirical research using a wide range of literature to investigate what factors have influenced the sustainable competitiveness of the 9 Central and Eastern European countries under study over a 10-year period and what are the key factors that, if ignored, could lead to a deterioration in their competitiveness prospects in the future. In a separate chapter, we have discussed the “middle-income trap” and the signs of being trapped in it. Factors to avoid and/or escape this trap are described. We believe that what is happening in the world and how we respond to it will be fundamentally determined by whether a country is looking at the basis for sustainable management and competitiveness in the short term – as a fire-fighting exercise – or in the long term, through a strategic lens. The components of the GSCI provide a clear and realistic picture of the competitiveness of countries because of its complexity. One thing is certain: the future will be very different from the past and the present. The past few years have taught all countries that they need to manage their economies in a way that is prepared for constant change, uncertainty and increasing risks at all times.  This means that the factors that underpin competitiveness must be a priority for all nations, while strengthening the resilience and crisis resilience of their countries and economies. Our study presents the issue in a casual way. It is therefore recommended to all those who, with a sense of responsibility and a long-term perspective, consider the enhancement of their country's national wealth and the well-being of all its citizens as the guiding star of their decisions. Any further decisions that come at the expense of these will fundamentally damage the nation.