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Microeconomic and macroeconomic determinants of competitiveness of East European countries in 2012

Nebojsa Savic, Goran Pitic and Snezana Konjikusic

International Journal of Economic Policy in Emerging Economies, 2014, vol. 7, issue 3, 264-280

Abstract: Due to the fact that competitiveness is the key indicator of sustainable economic growth, we analysed competitiveness of eight South East European (SEE-8) countries and compare them with eight Central European and Baltic (CEE-8) countries. We used one-way ANOVA and Friedman tests with p-values analysing GDPpc ppp and competitiveness ranks as well as NGC Index methodology analysing Porter's diamond. Competitive advantages of SEE-8 reside in first two elements of diamond: factor conditions and then in a part of the context for strategy and rivalry. On the other hand, there are distinct competitive disadvantages in all four elements of the diamond. For SEE-8, it is necessary to: strengthen regional infrastructure, remove trade and investment barriers, reduce market dominance and local monopolies and protect consumers; coordinate measures in financial markets; and sharing of best practices in government practice and create regional institutions and reducing corruption.

Keywords: competitiveness; Porter's diamond; productivity; Eastern Europe; economic growth; regional infrastructure; trade barriers; investment barriers; market dominance; local monopolies; consumer protection; financial markets; best practices; government practice; regional institutions; corruption. (search for similar items in EconPapers)
Date: 2014
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