international competitiveness

Question 1

what is international competitive

Answer 1

-ability of nations to compete successfully overseas and sustain improvements in living standards

Question 2

what determines whether a country is competitive or not and measures

Answer 2

-price and non-price comp
-ability to attract FOP

-unit labour costs (TLC/O), global competitiveness index, terms of trade
-uk ranked high on GCI due to competitive non-price and FDI

Question 3

factors determine international competitiveness

Answer 3

-unit labour costs, labour flexibility, labour skills, tax regimes innovation, infrastructure

Question 4

policies to improve international competitiveness

Answer 4

-supply-side policies (price, non price and attracting FDI)
-spending on infrastructure, tax incentives, deregulation, education

-cost, time lags, no guarantee of success