Theory and Policy of International Competitiveness

Theory and Policy of International Competitiveness

Theory and Policy of International Competitiveness

Theory and Policy of International Competitiveness

Synopsis

In today's global economy, a country's international competitiveness is the crucial factor in determining its ability to benefit from international trade. This book explains how a country can achieve and maintain international competitiveness in order to sustain the prosperity of its firms and businesses. It provides a micro-theoretic exposition of competitiveness and shows how a country's ability to compete determines the degree to which international trade impacts economic progress.

Excerpt

This book is about the international competitiveness of nations. It is about how competitiveness could make the difference in what international trade proves to be, or not to be, to a nation's economic prosperity. This book explores the details of what competitiveness is and what it is not. It examines the international competitiveness concept both at the micro (firm/industry) level and the macro (national) level, and analyzes their sources, effects, and potentials for a country's economic progress. the expositions offer pertinent guidelines and policy prescriptions of how a nation could achieve and maintain international competitiveness in order to sustain the long-term prosperity of its firms and businesses in particular, and overall economic growth in general.

Today's world is one in which national and international division of labor and specialization have resulted in massive production of goods and services across all regions of the world. Often, the major constraint that most societies face is the availability of the market for the profitable disposal of their products. This tends to set limits on the extent of the growth of national and regional economies. For this reason, the extent and pace of economic growth in every country have come to be dictated by the extent and pace of the country's ability to maintain relative competitiveness in all facets of its economic transactions with the rest of the world.

Could the nature of a country's international competitiveness be the crucial factor determining the country's ability to benefit from freer flow of trade in the global economy? a proper understanding of the meaning of international competitiveness and the implications it holds for an economy is crucial in today's short- and long-term economic policy formulation of nations. This volume offers a complete outline of how international competitiveness may be pursued, with a view to its proper role toward a country's overriding pursuit of . . .

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