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International Competitiveness of Czech Manufacturing - A Sectoral Approach with Error Correction Model

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  • Magdalena Olczyk
  • Aleksandra Kordalska

Abstract

The main objective of this paper is to find the determinants of the international competitiveness of the manufacturing sectors of the Czech economy, using the database of 13 manufacturing sub-sectors in 1995-2011, with the aid of ECM model. The authors research the question of how much foreign and domestic demand, the level of labour costs, the level of sector innovation intensity, the level of sector openness to foreign markets as well as sectoral labour productivity influence the changes in their trade balance. The results of the analysis conducted show substantial differences in the roles particular variables play in explaining the net exports in individual sectors. The results of the analysis indicate mostly a greater impact of the researched factors on net exports in long rather than short term.

Suggested Citation

  • Magdalena Olczyk & Aleksandra Kordalska, 2017. "International Competitiveness of Czech Manufacturing - A Sectoral Approach with Error Correction Model," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(2), pages 213-226.
    • Handle: RePEc:prg:jnlpep:v:2017:y:2017:i:2:id:605:p:213-226
    DOI: 10.18267/j.pep.605
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    References listed on IDEAS

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    1. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
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    Cited by:

    1. Lawrence U. Okoye & Alexander E. Omankhanlen & Johnson I. Okoh & Ngozi B. Adeleye & Felix N. Ezeji & Gideon K. Ezu & Benjamin I. Ehikioya, 2021. "Analyzing the Energy Consumption and Economic Growth Nexus in Nigeria," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 378-387.
    2. Pitoňáková Renáta, 2019. "Modelling CAR Export from Slovakia to the United Kingdom - Vector Error Correction Approach," Review of Economic Perspectives, Sciendo, vol. 19(4), pages 249-264, December.
    3. Roseline Misati & Kethi Ngoka, 2021. "Constraints on the performance and competitiveness of Tanzania's manufacturing exports," WIDER Working Paper Series wp-2021-35, World Institute for Development Economic Research (UNU-WIDER).

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    More about this item

    Keywords

    net exports; international competitiveness of economy; CEE economies; manufacturing; error correction model;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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