Microeconomic and macroeconomic determinants of competitiveness of East European countries in 2012
by Nebojsa Savic; Goran Pitic; Snezana Konjikusic
International Journal of Economic Policy in Emerging Economies (IJEPEE), Vol. 7, No. 3, 2014

Abstract: Due to the fact that competitiveness is the key indicator of sustainable economic growth, we analysed competitiveness of eight South East European (SEE-8) countries and compare them with eight Central European and Baltic (CEE-8) countries. We used one-way ANOVA and Friedman tests with p-values analysing GDPpc ppp and competitiveness ranks as well as NGC Index methodology analysing Porter's diamond. Competitive advantages of SEE-8 reside in first two elements of diamond: factor conditions and then in a part of the context for strategy and rivalry. On the other hand, there are distinct competitive disadvantages in all four elements of the diamond. For SEE-8, it is necessary to: strengthen regional infrastructure, remove trade and investment barriers, reduce market dominance and local monopolies and protect consumers; coordinate measures in financial markets; and sharing of best practices in government practice and create regional institutions and reducing corruption.

Online publication date: Thu, 30-Oct-2014

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