THE ROLE OF GREECE, IRELAND, ITALY, AND SPAIN AS ECONOMIC COMPETITORS ACCORDING TO THE WEF INDEX

The purpose of this paper is to investigate the existence of positive or negative causality among variables that are part of the economic competitiveness methodology used by World Economic Forum (WEF) Index. The analysis is aimed at the data from Greece, Ireland, Italy, and Spain.Results from the VAR method show that, indeed, there is a significant level of causality, and therefore, the variables are rightly used for the construction of the WEF index.