o:28515 Development of Green Economy and competitiveness of EU countries: Macro-level empirical analysis en Abstract: In the past two decades, continuous changes caused by environmental degradation and global warming have contributed to the emergence and actualization of the green economy concept. Applying green principles enables economic growth and development while respecting all aspects of the environment. Green economy is a function of sustainable development as a dominant trend in the global framework, but it is also a sort of a challenge and opportunity for improving national economic competitiveness as the main indicator of success in the world market. The focus of the paper's analysis are four indicators that are relevant to different segments of applying the green economy concept, which are grouped by the DEA method into the composite index GEDI (Green Economy Development Index). Bearing in mind that innovations are very important for the adoption and implementation of the green economy, the emphasis of the research was on examining the relationship between GEDI and the third subindex of the Global Competitiveness Index, which focuses on innovations in the European Union countries. The aim of this comparative analysis is to define future guidelines and recommendations for more efficient implementation of environmental standards and to achieve a sustainable competitive advantage in the long run Keywords: green economy; competitiveness; DEA analysis; composite index 1552099 10.5937/EKOPRE1908415G 1552101 0353-443X 2023-03-31T08:33:56.608Z 44 no 46 Olga Gavrić Univerzitet u Beogradu Poljoprivredni fakultet Đorđe Mitrović Univerzitet u Beogradu Ekonomski fakultet person 12911463 0000-0002-1839-1105 application/pdf 692618 https://phaidrabg.bg.ac.rs/o:28515 no yes 1 70 92000001 11A03 Ekonomika preduzeća 67 7-8 415 425 2019