Labour Productivity, Economic Growth and Global Competitiveness in Post-crisis Period

AbstractLabour productivity and economic growth are key factors to maintain and improve the competiveness of nations in the global market. The paper is devoted to the analysis of recent trends of labour productivity and economic growth in post-crisis period in comparison with the trends in pre-crisis and crisis periods. The paper analyzes the impact of changes in labour productivity and its effect on the nation's global competitiveness. The research focuses on the European Union countries that experienced the most severe crisis and afterwards the most rapid recovery in post-crisis period (as Latvia, Lithuania, and Estonia). The research findings argue that there are weak or no relations between productivity increase and economic growth in pre-crisis period and the first phase of post-crisis period; however, the increase of productivity during the crisis is a significant driver of the economy after a period of time

Analyzing and Identifying the Factors Affecting the Global Supply Chain Competitiveness of Industrial Products

Technological progress is one of the main factors driving long-run economic growth, whether referred to some enterprises that need progress and advancement or to the national economy in general. Innovations make the production process more efficient, thereby affecting its competitive ability. Switching from an economic system that takes considerable time and labor to a technology-intensive one is what drives economic modernization. Industrial production plays a key role in shaping the competitiveness of national economy. Competitiveness index is one of the most important indicators. The purpose of this research is to analyze and identify the most significant factors affecting the global supply chain competitiveness of industrial products. The tie between them was established through the coefficient of correlation between the global manufacturing competitiveness index and the index of performance in the Russian manufacturing sector. The strongest correlation was found between the global manufacturing competitiveness index and the industrial production index, high-technology exports and RD expenditure

Panel Analysis of Relationship between Supply Chain Strategy in Competitive Area and Economic Growth in the European Union

Theoretically, the supply chain competitiveness is conclusively believed to be positively related with economic growth. While empirically, this relationship does not always hold in many countries for several reasons. In the empirical literature, the link between economic growth and competitiveness has been highly debated. Thus, the main purpose of current article is to examine the link between economic growth and competitiveness in European Union (EU-28 countries) over period from 2007 to 2017. Using Panel Models (Fixed and random effects models). In conclusion, the findings suggest that competitiveness is robustly and positively associated with real GDP per capita, if we make a policy to increase the GDP per capita, it included rise in competitiveness score for the country

Navigating institutional voids : A managerial perspective on the competitiveness of selected African countries

Abstract: Africa represents tremendous potential constrained by complex challenges. A qualitative approach was used to do a thematic macro analysis of the competitiveness of Egypt, Nigeria and South Africa using the management research category, navigating institutional voids, identified by George et al. (2016) and incorporating data from the World Economic Forum’s Global Competitiveness Report (GCR). This study provides a framework for comparative analysis to inform business practitioners of issues, challenges and opportunities and propose a research agenda for management scholars. In several of the factors, South Africa had the highest ranking. However, the most interesting findings emerge when analysing the measures on which all three African countries had equally poor ranks, namely; the quality of the education system and of math and science education. Additionally, information relating to some subthemes was lacking which could be the result of two factors. Firstly, certain sub-themes are difficult to quantify which makes it challenging to measure by way of a scale or rank. Secondly, there may be some information on certain sub-themes but the conditions or policies that give rise to the information are highly contextual and cannot be compared between countries in a meaningful way. Regardless of the constraints, the existing sub-themes are widely accepted to have a bearing on competitiveness

Index for measuring of competitiveness in Colombia

Esta investigación presenta una metodología para la construcción de un índice compuesto para medir la competitividad como factor de crecimiento económico para Colombia, a partir de los modelos de competitividad de Michel Porter y el trabajo de Cho y Moon. Los índices actuales presentan falencias en la construcción, desde la parte teórica o desde el manejo estadístico. Es por esto que se implementó el análisis factorial, herramienta estadística que permite una construcción objetiva evitando la inserción de subjetividades en la ponderación y agregación de variables. También, la utilización de datos duros provee a la investigación de mayor confiabilidad. Por medio de esta construcción se evidenciaron los esfuerzos que realiza el país para mejorar la competitividad apoyada por la estabilidad macroeconómica, sin embargo rezagada por la seguridad y salud pertenecientes a la institucionalidad. Los resultados concuerdan con las recomendaciones de los estudios económicos que hace la Organización para la Cooperación y Desarrollo Económico para Colombia.This research presents a methodology for the construction of a composite index to measure competitiveness as a factor for economic growth in Colombia, from competitiveness models by Michel Porter and the work of Cho and Moon. Current rates have shortcomings in construction, from the theory or the statistical management. That is why a factor analysis was developed, a statistical tool that allows an objective construction, avoiding mistakes from including subjectivity in the weighting and aggregation of variables. Also, the use of hard data provides greater reliability to the research. Thanks to this construction the efforts of the country to improve competitiveness supported by macroeconomic stability were evident, nevertheless; lagging behind due to the safety and health belonging to the institutions. The results are consistent with the recommendations of the economic studies presented by the Organization for Economic Co-operation and Development - Colombia

Development Analysis of Global Competitiveness Index of ASEAN-7 Countries and Its Relationship on Gross Domestic Product

The objectives of the research are: (1) to investigate the development of global competitiveness index (GCI) of ASEAN-7 countries as an illustration of economic performance and potentiality, (2) to investigate which factors or pillars are drivers for the improvement of GCI ASEAN-7 countries, and (3) to analyze the effect of Gross Domestic Product (GDP) on GCI of ASEAN-7 countries. The analysis method used in calculating the weight of the contribution of each pillar to changes in the competitiveness index, and determining the effect of GDP on GCI, a Semi-Logarithmic Regression analysis is used. The result shows that during the period of year 2008/2009 to the year of 2016/2017, the rank and index of GCI of each ASEAN-7 countries continue to increase. The pillars of the basic requirement subindex still dominate the largest contribution to the improvement of the competitiveness index for Indonesia, Philippines, Thailand, Cambodia, and Vietnam. As for Malaysia and Singapore sub-indexes of efficiency enhancers and innovation-sophistication have been able to give the largest contribution to the improvement of GCI.  The GDP of ASEAN-7 countries has a positive and significant impact on the improvement of global competitiveness index, except for Thailand. The most problematic factors in improving the competitiveness index are corruption, inadequately educated labour, access to financing, tax regulations, and inefficient government bureaucracy

Development Analysis of Global Competitiveness Index of ASEAN-7 Countries and Its Relationship on Gross Domestic Product

The objectives of the research are: (1) to investigate the development of global competitiveness index (GCI) of ASEAN-7 countries as an illustration of economic performance and potentiality, (2) to investigate which factors or pillars are drivers for the improvement of GCI ASEAN-7 countries, and (3) to analyze the effect of Gross Domestic Product (GDP) on GCI of ASEAN-7 countries. The analysis method used in calculating the weight of the contribution of each pillar to changes in the competitiveness index, and determining the effect of GDP on GCI, a Semi-Logarithmic Regression analysis is used. The result shows that during the period of year 2008/2009 to the year of 2016/2017, the rank and index of GCI of each ASEAN-7 countries continue to increase. The pillars of the basic requirement subindex still dominate the largest contribution to the improvement of the competitiveness index for Indonesia, Philippines, Thailand, Cambodia, and Vietnam. As for Malaysia and Singapore sub-indexes of efficiency enhancers and innovation-sophistication have been able to give the largest contribution to the improvement of GCI. The GDP of ASEAN-7 countries has a positive and significant impact on the improvement of global competitiveness index, except for Thailand. The most problematic factors in improving the competitiveness index are corruption, inadequately educated labour, access to financing, tax regulations, and inefficient government bureaucracy

Consumption vs. Investments for stimulating economic growth and employment in the CEE Countries–a panel analysis

The aim of this paper is to find out if the high economic growth rates achieved by the CEE countries are based either on consumption or on investments, considering many exogenous factors that impact on the economic growth and how these factors can contribute to the employment process in the CEE economies to stress if these trends of economic growth and employment are sustainable in the long run. We performed two Panel Least Squares and Pool Least Squares estimations to determine the impact of the exogenous variables on the economic growth (as GDP per capita growth) and on the unemployment rate in the short and long run, depending on the lags of the exogenous variables used in the analysis. We used yearly data series during 2004–2017 for eight selected CEE countries. Our results show that private consumption is positively related with economic growth in the short run, but it doesn’t support the job creation process, in the same way as the savings rate can’t determine positive effects on the employment. Public spending is strongly and negatively correlated with economic growth and positively correlated with the unemployment rate in the CEE region, while the net export is weakly impacting on the economic growth in the CEE region and doesn’t support the employment process in this area. The impact of the domestic investments on the economic growth is weaker in the CEE area than the impact of both private and public spending, but they are positively correlated with the economic growth and negatively correlated with the unemployment rate, while the correlation of the foreign direct investments (FDIs) with both economic growth and unemployment is very weak, as it is the case of net exports. We conclude that the economic growth in the CEE area is mainly based on the private consumption in the short run but the private consumption doesn’t support the job creation process either in the long run or in the short run. The qualitative factors included in the analysis by using global competitiveness index (corruption control, bureaucracy, infrastructure quality, governance effectiveness, political stability, rule of law factors, property rights, markets efficiency, etc.) and corruption perception index are strongly and positively correlated with the economic growth and negatively correlated with the unemployment rate

Can the Vietnamese Provincial Competitiveness Index Attract Enterprises for Locals?

The Vietnamese provincial competitiveness index (PCI) is a tool designed to assess the economic governance quality of provincial authorities in creating a favorable business environment for enterprises. This study employs descriptive statistical analysis and structural equation modeling to examine the effectiveness of PCI in attracting enterprises. We utilize two official data sources in Vietnam, namely, the PCI and proxies of enterprise attraction, including the number of enterprises, employees, and capital value of enterprises, covering the period from 2013 to 2020. Our results show a strong correlation between the PCI and its subindices and a positive impact of the PCI on all proxies of enterprise attraction. Specifically, the effect of the PCI on the number of enterprises is more potent than on the number of employees and the capital value of enterprises. In addition, our study finds that the effect of the PCI on enterprise attraction in less developed provinces is more vital than in developed provinces.This paper is a part of PhD thesis at Seoul National University. The first author is a Global Korea Scholarship scholar sponsored by Korean Government. We are grateful for the editors and anonymous reviewers for the valuable comments on the earlier version

La tubería empresarial eficiente. Resiliencia de emprendedores y empresarios

El crecimiento económico y el emprendimiento se han interconectado fuertemente, sin embargo, esta relación está muy lejana de definirse (Carre, Van Stel, Thurik y Wennekers, 2007). Es claro que el espíritu empresarial influye en el desarrollo económico. Existen planteamientos que formulan que el proceso de desarrollo económico es el resultado –no planificado– del emprendimiento individual, mientras que otros consideran que el espíritu empresarial impulsa el crecimiento del empleo, la innovación y el bienestar, por lo cual los gobiernos buscan mecanismos (políticas, incentivos tributarios y otros) para mejorar la actividad empresarial en sus regiones (Toma, Grigore y Marinescu, 2014). El presente libro contiene los resultados de un análisis diferente y novedoso de la relación entre el desarrollo económico de los países y la actividad empresarial a partir de datos del Global Entrepreneurship Monitor o estudio GEM. La investigación desarrollada sigue el enfoque económico que Álvarez y Urbano (2010) afirman había sido explorado solo en un 31% de la literatura publicada, que está basada en el GEM. En este enfoque se utilizan métricas que relacionan las condiciones económicas de los países, en este caso se utilizó el tipo de economía de acuerdo con la clasificación del Foro Económico Mundial. Para la actividad empresarial se utilizaron datos públicos del estudio GEM de los países, como es la Tasa de Nueva Actividad Empresarial (TEA) y otros tipos de empresarios medidos según su modelo del proceso empresarial. Se manejó además una novedosa forma de interpretación y representación gráfica de los datos del GEM, llamada la Tubería Empresarial, creada por Varela y Soler (2013) como herramienta para la conceptualización de la eficiencia y resiliencia en el proceso empresarial