Global Governance of International Competitiveness Spillovers

Bernard Hoekman

No 2013/33, RSCAS Working Papers from European University Institute

Abstract: Reducing public sector deficits and high debt burdens in part will require an increase in net exports – which is only possible if the countries concerned are able to produce goods and services that are 'competitive' on world markets. Policies aimed at enhancing competitiveness may be offset by actions taken in other countries and can generate negative international pecuniary spillovers. This paper discusses different approaches towards dealing with (perceived) cross-border externalities. In many cases there will be a significant degree of uncertainty as what the net effects of policies are, taking into account the overall impact of policy measures that have a bearing on firm-level competitiveness. A case is for greater cooperation to enhance the transparency of applied policies; assess their impacts and establish mechanisms to consult and exchange information.

Keywords: international economic policy; multilateral cooperation; spillovers; competitiveness; economic integration (search for similar items in EconPapers)
JEL-codes: F13 (search for similar items in EconPapers)
Date: 2013-06
New Economics Papers: this item is included in nep-cse
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