RELEVANT FACTORS FOR BUILDING COMPETITIVENESS OF MANUFACTURING INDUSTRY IN BOSNIA AND HERZEGOVINA
Merim Kasumovic () and
Vildana Altumbabic ()
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Merim Kasumovic: Faculty of Economics, University of Tuzla, Bosnia and Herzegovina
Vildana Altumbabic: Solana d.d. Tuzla, Bosnia and Herzegovina
Economic Review: Journal of Economics and Business, 2020, vol. 18, issue 1, 3-19
Competitiveness of an industry is conditioned by a number of different factors. These factors may be a part of macroeconomic or microeconomic competitiveness. In essence, macroeconomic competitiveness creates preconditions for generation of microeconomic competitiveness. It is therefore important to identify relevant factors for generation of industry competitiveness in order to promote the microeconomic competitiveness of an industry through adequate macroeconomic competitiveness and industrial policy. In often cases, the government creates industrial policies to encourage development of a particular industry, but these policies do not have targeted effects. By identifying relevant factors of industrial competitiveness, industrial policy will be focused on them, thus avoiding waste of scarce resources and facilitating achievement of industrial policy objectives. This paper examines relevant factors of competitiveness of Bosnia and Herzegovina’s (BiH) manufacturing industry in the period 2010-2017 as basis for its successful long-term growth and development. These factors should be a focal point of industrial policy makers in BiH manufacturing industry.
Keywords: competitiveness; relevant factors of competitiveness; manufacturing industry; export competitiveness (search for similar items in EconPapers)
JEL-codes: L52 L60 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:tuz:journl:v:18:y:2020:i:1:p:3-19
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