Systemic competitiveness of post-socialist and capitalist economies: a broader look at the competitiveness debate

International competitiveness studies have hitherto mainly been focused on constructing ranking schemes. This article adds to the literature by analysing World Competitiveness Yearbook data in order to econometrically pinpoint the crucial competitiveness determinants for 35 countries. Applying the s...

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Bibliographic Details
Published in:Post-communist economies 2014-10, Vol.26 (4), p.477-497
Main Authors: Mackic, Velibor, Peric, Blanka Skrabic, Soric, Petar
Format: Article
Language:English
Subjects:
Capitalism
Capitalist countries
Capitalist economy
Competitive advantage
Competitiveness
Determinants
Econometrics
Generalized method of moments
Labour market
Literature
Manycountries
Small & medium sized enterprises-SME
Socialists
Studies
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Summary:International competitiveness studies have hitherto mainly been focused on constructing ranking schemes. This article adds to the literature by analysing World Competitiveness Yearbook data in order to econometrically pinpoint the crucial competitiveness determinants for 35 countries. Applying the system GMM panel data estimator to post-socialist (PS) and capitalist countries separately, several conclusions emerge: i) small and medium enterprises are the main competitiveness generator in the PS block (in contrast to large corporations in the capitalist economies), ii) credit rating is highly relevant in both groups, iii) increasing labour market flexibility in PS countries plays a vital role in boosting competitiveness.
ISSN:1463-1377
1465-3958
DOI:10.1080/14631377.2014.964463