Citation:

Stefan Graser, Nadiya Dubrovina, Monika Hudakova. "Comparative Analysis of Industrial Development in Germany, Austria and Slovakia: The Problems and Perspectives" International Research Journal of Economics and Management Studies, Vol. 3, No. 3, pp. 331-344, 2024.

Abstract:

In this study, three countries of the EU (Germany, Austria and Slovakia) were selected for the analysis of the development of industry. These countries were chosen due to the important role of industrial sectors in the formation of GDP and employment. In addition, Germany and Austria, and Austria and Slovakia have joint borders, which is important for the analysis of spatial effects and diffusion of the investments and technologies from the west to east, and migration of labor force in opposite directions. The main objectives of this study are: on the basis of the main indicators from Eurostat to characterize the role and long-term tendencies of the development of industry in the mentioned three countries; to define the regimes of industrial development using cluster analysis and to apply the integral index for the evaluation of the industrial development in these countries for the comparative analysis and projections. The main indicators of the development of the industry were analyzed in the long-term period, during 2000-2020 years, and the basic models for the time series were built; the projections for the main indicators are made for the next 5 years. To take into account the set of the main indicators of the industry in these countries and to provide a comparative analysis of the complex situation, the integral indices were calculated, and the features of the development of the industry were characterized.

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Keywords:

Cluster Analysis, Development, Econometric Models, Employment, Industry, Integral Index.