Authors: Aswini Kumar Mishra; Ganesh Rao; Bhargav Vishwanath
Addresses: BITS, Pilani – K K Birla Goa Campus, Zuarinagar – 403726, Goa, India ' BITS, Pilani – K K Birla Goa Campus, Zuarinagar – 403726, Goa, India ' BITS, Pilani – K K Birla Goa Campus, Zuarinagar – 403726, Goa, India
Abstract: Many emerging Asian economies have developed great global competitiveness in the past two decades and play a crucial role in the world economy. This paper studies these emerging economies systematically on four pillars of competitiveness. Based on the IMF's classification of 11 emerging Asian economies namely China, Hong Kong, India, Indonesia, South Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka and Thailand, panel data analysis is conducted for these countries over the period 1996-2011. The results presented offer insights into which factors are most crucial to the competitiveness of a nation. Important determinants of GDP, outward FDI flows and export of goods and services are identified. Rigorous analysis is conducted to justify the results and, considering these factors, we suggest important policy implications for these nations. Countries are required to focus on the right factors and implementation of economic and institutional reforms to enhance their global competitiveness.
Keywords: Asian competitiveness; emerging economies; India; panel data analysis; institutional factors; governance; China; Hong Kong; Indonesia; South Korea; Malaysia; Pakistan; Philippines; Singapore; Sri Lanka; Thailand; GDP; gross domestic product; outward FDI; foreign direct investment; exports.
International Journal of Economic Policy in Emerging Economies, 2016 Vol.9 No.2, pp.127 - 144
Published online: 23 Jun 2016 *Full-text access for editors Access for subscribers Purchase this article Comment on this article