Assessment of the factors influencing competitiveness fostering the country’s sustainability

Abstract

Competitiveness is a complex economic category that is closely related to the country’s sustainability. Sustainability can be achieved through the creation of added value, the fostering of quality management and the applying principles of social responsibility, and each area of the activity trying to be competitive at the same time. It follows that both competitiveness and sustainability are dependent on a number of factors at both micro and macro levels. The objective of the article is to assess the impact of factors on competitiveness and consequently on the sustainability of the country. In addition, the following tasks have been implemented: to analyze the theoretical aspects of competitiveness and sustainability; to reveal the main factors, that have an influence on the competitiveness; to assess the influence of factors on competitiveness fostering the sustainability. In this article, the following methods of analysis are used: an analysis and summary of the scientific literature, analysis of the statistical data, Granger causality test, correlation and regression analysis.