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An Overview and Analysis on Indices of Regional Competitiveness

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  • Thomas Berger

    ()
    (School of Business Administration, Riedlingen University, Germany)

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    Abstract

    Over the last years many policy-makers and analysts have put effort on measuring and comparing regional competitive performance. This goes back to the fact that the concept of competitiveness was taken over from the business field and applied on the national and regional level. And as competitiveness is a relative concept, it implies the need to compare with others such that regions are inexorably sucked into the continual monitoring and periodic benchmarking of what ?the competition¡® is doing and where the ?best practice¡® or ?best offer¡® lies. Therefore, efforts have increasingly focused on the development of composite indices which combine relevant indicators into one overarching measure, the results of which can be reported in the form of a ?league table¡®. Such indices and rankings attract widespread attention in the media and could be regarded as a potentially useful means of helping firms, policy-makers and institutions to assess the performance of their economies in comparable (i.e. numerical) terms, and to undertake appropriate remedial strategies. This paper gives an overview on some of the indices to be found in the world, analyzing them with respect to indicators included and predictive quality. We conclude with some reflections on the value and role of measures of regional competitiveness.

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    File URL: http://www.bapress.ca/Journal-2/An%20Overview%20and%20Analysis%20on%20Indices%20of%20Regional%20Competitiveness.pdf
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    Bibliographic Info

    Article provided by Better Advances Press, Canada in its journal Review of Economics & Finance.

    Volume (Year): 1 (2011)
    Issue (Month): (April)
    Pages: 17-33

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    Handle: RePEc:bap:journl:110202

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    Related research

    Keywords: Regional development; Regional competitiveness; Composite indices; Benchmarking regions;

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    References

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    1. Christian Bellak & Richard Winklhofer, 1997. "Internationale Wettbewerbsfähigkeit: Wirtschaftspolitischer (Un-)Sinn von Ländervergleichen (Kommentar)," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 23(4), pages 535-562.
    2. Ron Martin & Peter Sunley, 2002. "Deconstructing Clusters: Chaotic Concept or Policy Panacea," ESRC Centre for Business Research - Working Papers wp244, ESRC Centre for Business Research.
    3. Francis J. Greene & Paul Tracey & Marc Cowling, 2007. "Recasting the City into City-Regions: Place Promotion, Competitiveness Benchmarking and the Quest for Urban Supremacy," Growth and Change, Gatton College of Business and Economics, University of Kentucky, vol. 38(1), pages 1-22.
    4. Leslie Budd & Amer Hirmis, 2004. "Conceptual Framework for Regional Competitiveness," Regional Studies, Taylor & Francis Journals, vol. 38(9), pages 1015-1028.
    5. Lall, Sanjaya, 2001. "Competitiveness Indices and Developing Countries: An Economic Evaluation of the Global Competitiveness Report," World Development, Elsevier, vol. 29(9), pages 1501-1525, September.
    6. Edward Malecki, 2004. "Jockeying for Position: What It Means and Why It Matters to Regional Development Policy When Places Compete," Regional Studies, Taylor & Francis Journals, vol. 38(9), pages 1101-1120.
    7. Thomas Berger & Gillian Bristow, 2009. "Competitiveness and the Benchmarking of Nations—A Critical Reflection," International Advances in Economic Research, Springer, vol. 15(4), pages 378-392, November.
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