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Country Competitiveness: an Empirical Study
Эмпирическое исследование национальной конкурентоспособности
[journal article]
Abstract What makes countries competitive? What economic policies effectively influence country competitiveness? The aim of this research paper is to analyse country competitiveness empirically, in order to explore the factors that make countries competitive. This can allow governments to structure their bus... view more
What makes countries competitive? What economic policies effectively influence country competitiveness? The aim of this research paper is to analyse country competitiveness empirically, in order to explore the factors that make countries competitive. This can allow governments to structure their business environment differently, and to elaborate strategies aimed at improving their countries’ overall competitiveness. Economic size and trading conditions have proven important for economic success throughout history. Individual competitiveness and business competitiveness are commonly talked about. The author analyses the overall economic competitiveness of countries. The author argues that trade is subject to various factors, including entrepreneurship and economic openness. Competitiveness is analysed in this current research, using IMD World Competitiveness Yearbook data for 55 countries in the estimation sample. This unique research applies a Multinomial Logistic procedure, and a Heckman Two-Step procedure in its accountancy for market size, exports, openness, and foreign direct investment. The business environment factors for estimation are highlighted. Also, several macro-economic modifications of the basic model specification are tested, providing further empirical analysis. Results indicate that the ten most competitive countries tend to be driven by foreign direct investment, exports and entrepreneurship.... view less
Keywords
competitiveness; economic policy; international comparison; national trade and industry; economic development (on national level); estimation; method; direct investment; economic model; accounting; export earnings; entrepreneurship; logistics
Classification
National Economy
Free Keywords
competitiveness; foreign direct investment; multinomial logistic procedure; Heckman two-step procedure
Document language
English
Publication Year
2017
Page/Pages
p. 31-44
Journal
Baltic Region, 9 (2017) 2
DOI
https://doi.org/10.5922/2079-8555-2017-2-3
ISSN
2079-8555
Status
Published Version; peer reviewed