Is the Global Competitiveness Report the right measure of macroeconomic competitiveness*

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dc.citation.epage117
dc.citation.spage91
dc.citation.volume34
dc.contributor.authorDjogo, Marko
dc.contributor.authorStanisic, Nenad
dc.date.accessioned2023-08-30T11:30:22Z
dc.date.available2023-08-30T11:30:22Z
dc.date.issued2016
dc.description.abstractThe purpose of this paper is to research the effect of abandoning the assumption of long-term time horizon in terms of reliability of the Global Competitiveness Report (GCR) findings. In order to achieve this goal we will compare the GCR findings with the findings of a composite index of competitiveness, named 6 BIC (Basic Indicators of Competitiveness). We have developed this index on the theoretical basis provided by Krugman, Fagerbergs, Scott, Lodge, Aiginger and others. Economists are aware that any theoretical conception, including the GCR, relies on a number of assumptions and postulations. If some of those have been under scrutiny, then the whole construction and its findings would lose their credibility. One of the most significant assumptions rooted in the Global Competitiveness Report is its longevity. In the long-term, the change in productivity level through price competitiveness certainly brings out a change in outcome competitiveness level. However, the effects in short-to-middle term are not certain. Our findings show that there is a whole range of countries whose national competitiveness is either under-estimated by the GCR (for example Russia, Turkey, Estonia, Moldova) or overvalued (Finland, Ireland, Iceland, Portugal, Spain) in short-to-middle term. The basic conclusion from the obtained results of the research is that the GCR does not provide sufficiently good view of the current competitiveness of the countries, and that this indicator needs to be extended also with other competitiveness indicators, such as those selected in our paper.
dc.identifier.doi10.18045/zbefri.2016.1.91
dc.identifier.urihttps://vaseljena.ues.rs.ba/handle/123456789/617
dc.language.isoen
dc.publisherUniversity of Rijeka, FACULTY OF ECONOMICS
dc.sourceZbornik radova Ekonomskog fakulteta u Rijeci
dc.subjectmacro-competitiveness, productivity level, basic indicators of competitiveness
dc.titleIs the Global Competitiveness Report the right measure of macroeconomic competitiveness*
dc.typeArticle
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Економски факултет Пале [Научни радови] / Faculty of Economics Pale [Scientific papers]