CLUSTERING OF EUROPEAN COUNTRIES BASED ON INDICATORS OF INNOVATIVENESS, INCLUSIVENESS, SUSTAINABILITY, AND RESILIENCE AS KEY COMPONENTS OF THE QUALITY OF ECONOMIC GROWTH
Abstract
This article explores the assessment of future economic growth boundaries in European countries based on four key dimensions: innovativeness, inclusiveness, sustainability, and resilience. Grounded in the Future of Growth Framework by the World Economic Forum, the study employs correlation and cluster analysis to examine structural and spatial differences among 30 countries. The results reveal substantial variation in national performance and strong interrelations, especially between innovativeness and resilience, and inclusiveness and resilience. These findings suggest that nations with strong innovation ecosystems and inclusive institutions are more capable of withstanding shocks and supporting long-term development. Each dimension is viewed as an interconnected component of quality growth. Innovativeness reflects talent, technology, and institutional capacity. Inclusiveness encompasses access to education, healthcare, digital and financial services. Sustainability measures environmental balance and green policy integration. Resilience evaluates the stability and adaptability of governance, economic systems, and healthcare infrastructure. Top performers such as Switzerland and Finland exhibit strength across multiple dimensions, while countries like Bosnia and Herzegovina and North Macedonia face deeper systemic limitations. Ukraine falls into the mid-range, with potential for institutional and ecological improvement. The correlation matrix shows the strongest link between innovativeness and resilience (r = 0,89), followed by inclusiveness and resilience (r = 0,83), indicating key synergies that shape adaptive capacity and quality of growth. The study supports the argument for a multidimensional approach to assessing economic progress and highlights the value of integrating qualitative indicators into growth measurement. Future research will focus on constructing a composite index that combines all four dimensions to support evidence-based policy and balanced strategic planning for sustainable development and resilience.
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