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Competitiveness Indicators: A Theoretical and Empirical Assessment

Author

Listed:
  • Ian W. Marsh
  • Mr. Stephen Tokarick

Abstract

This paper discusses five indicators of competitiveness: real exchange rates based on consumer price indices, export unit values of manufacturing goods, the relative price of traded to nontraded goods, normalized unit labor costs in manufacturing, and the ratio of normalized unit labor costs to value-added deflators in manufacturing. It discusses how each of these measures is associated with changes in a country’s balance of trade in goods and nonfactor services and examines the relationship among these indicators. It then examines the empirical performance of three of the indicators in terms of their ability to explain trade flows.

Suggested Citation

  • Ian W. Marsh & Mr. Stephen Tokarick, 1994. "Competitiveness Indicators: A Theoretical and Empirical Assessment," IMF Working Papers 1994/029, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1994/029
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    Citations

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    Cited by:

    1. Giancarlo Gandolfo & Alberto Felettigh, 1998. "The NATREX: an Alternative Approach Theory and Empirical Verifications," Working Papers 52, Sapienza University of Rome, CIDEI.
    2. Mr. Rupert D Worrell, 2003. "A Currency Union for the Caribbean," IMF Working Papers 2003/035, International Monetary Fund.
    3. M. Kovalčík, 2011. "Profitability and competitiveness of forestry in European countries," Journal of Forest Science, Czech Academy of Agricultural Sciences, vol. 57(9), pages 369-376.
    4. Ingrid Majerová & Jan Nevima, 2015. "Exploring regional aspects of competitiveness in the selected countries of Visegrad Group Plus," Working Papers 0017, Silesian University, School of Business Administration.
    5. Carlos A.Huertas Campos & Consuelo Villalba Torres & Julián A.Parra Polanía, 2004. "Índice de Competitividad Colombiana con Terceros Países en el Mercado Estadounidense (ITCR-C)," Borradores de Economia 273, Banco de la Republica de Colombia.
    6. Eckhard Siggel, 2006. "International Competitiveness and Comparative Advantage: A Survey and a Proposal for Measurement," Journal of Industry, Competition and Trade, Springer, vol. 6(2), pages 137-159, June.
    7. Ayda Eraydın & Bilge Armatlı Köroğlu & Hilal Erkuş Öztürk & Suna Senem Yaşar, 2008. "Network Governance for Competitiveness: The Role of Policy Networks in the Economic Performance of Settlements in the Izmir Region," Urban Studies, Urban Studies Journal Limited, vol. 45(11), pages 2291-2321, October.
    8. Crt Lenarcic & Sowmya Gayathri Ganesh, 2020. "Calculation Methodology of the Effective Exchange Rate in Slovenia," Journal of Innovative Business and Management, DOBA Faculty, vol. 12(2), pages 20-37.
    9. Dominique Peters, 2010. "Price Competitiveness in Central and Eastern Europe - a case study for transition economies," IMK Studies 01-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    10. International Monetary Fund, 2002. "Tunisia’s Experience with Real Exchange Rate Targeting and the Transition to a Flexible Exchange Rate Regime," IMF Working Papers 2002/190, International Monetary Fund.
    11. Ingrid Majerová & Jan Nevima, 2018. "Influence of National Competitiveness Indicators on the Export Performance of the Visegrad Group Plus Countries," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 1, pages 19-36, March.
    12. Mr. Charalambos G Tsangarides & Mr. Gustavo Ramirez, 2007. "Competitiveness in the CFA Franc Zone," IMF Working Papers 2007/212, International Monetary Fund.
    13. Dilek Cetin & Michele Cincera, 2015. "Circular Causality of R&D and Export in EU countries," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 1(1), pages 82-105, June.
    14. Naoko C. Kojo, 2015. "Demystifying Dutch Disease," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-23.
    15. Valerie Cerra & Jarkko Soikkeli & Sweta C. Saxena, 2003. "How Competitive is Irish Manufacturing?," The Economic and Social Review, Economic and Social Studies, vol. 34(2), pages 173-193.
    16. Kornélia Krajnyák & Jeromin Zettelmeyer, 1998. "Competitiveness in Transition Economies: What Scope for Real Appreciation?," IMF Staff Papers, Palgrave Macmillan, vol. 45(2), pages 309-362, June.
    17. Mr. Luc Eyraud, 2009. "Madagascar: A Competitiveness and Exchange Rate Assessment," IMF Working Papers 2009/107, International Monetary Fund.
    18. Valdes, Constanza & Hjort, Kim & Seeley, Ralph, 2020. "Brazil's Agricultural Competitiveness: Recent Growth and Future Impacts under Currency Depreciation and Changing Macroeconomic Conditions," Economic Research Report 327206, United States Department of Agriculture, Economic Research Service.
    19. International Monetary Fund, 2009. "Republic of Congo: Selected Issues," IMF Staff Country Reports 2009/072, International Monetary Fund.
    20. Miriam Katunze & Annette Kuteesa, 2016. "Uganda’s Revealed Comparative Advantage in COMESA," Journal of Sustainable Development, Canadian Center of Science and Education, vol. 9(3), pages 192-192, April.
    21. Alege, Philip O. & Okodua, Henry, 2014. "International Competitiveness and Growth of the Nigerian Economy: A Structural VAR-Based Perspective," Research in Applied Economics, Macrothink Institute, vol. 6(4), pages 53-74, December.
    22. Bogetic, Zeljko & Espina, Carlos & Noer, John, 2007. "Cote d'Ivoire : competitiveness, Cocoa, and the real exchange rate," Policy Research Working Paper Series 4416, The World Bank.

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