Measuring Competitiveness in the World's Smallest Economies: Introducing the SSMECI

Ganeshan Wignaraja () and David Joiner
Additional contact information
Ganeshan Wignaraja: Asian Development Bank
David Joiner: Maxwell Stamp PLC

No 60, ADB Economics Working Paper Series from Asian Development Bank

Abstract: Recent attempts to measure competitiveness across countries have typically neglected the world's smallest economies. Hence, a simple composite index, the small state manufactured export competitiveness index (SSMECI), was developed to benchmark industrial competitiveness. The SSMECI represents the first attempt to provide a comprehensive picture of the competitiveness performance of small states. The performance of small states varies across geographical regions, income groups, and country size classes. Europe was the best performing region, with Malta and Estonia occupying the top two positions in the index. Small states in Southern Africa were the next most successful, with Mauritius and the four Southern African states all in the top 11 of the index. Meanwhile, performance in the Pacific and Western Africa was poor. Statistical analysis of the determinants of competitiveness indicate that high-performing small states had better macroeconomic conditions, higher levels of foreign investment, more trade openness, better levels of education, and modern infrastructure. The paper concludes that a coherent, marketoriented competitiveness strategy in small states is vital to success on international markets.

Keywords: competitiveness; industrial competitiveness; small states; SSMECI; trade openness (search for similar items in EconPapers)
JEL-codes: F13 F14 L25 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2004-11-01
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.adb.org/publications/measuring-competi ... s-introducing-ssmeci Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0060

Access Statistics for this paper

More papers in ADB Economics Working Paper Series from Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines. Contact information at EDIRC.
Bibliographic data for series maintained by Orlee Velarde ().