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Developing ICOM: An Index of International Competitiveness

In: Creating an Internationally Competitive Economy

Author

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  • James H Gapinski

Abstract

At one level, international competitiveness is a vague concept that means different things to different people. At another level, however, it is a fairly precise concept that has intuitive appeal. Surely, anyone acquainted with the principles of economics has a feel for the notion of competitiveness, and it may not take much to extend that notion into the international context. In that global setting countries may be viewed as having different degrees of international competitiveness: some may enjoy high levels of success while others may post dismal records. Pursued a bit further, logic suggests that nations might be ranked by their competitiveness, and this chapter develops a simplified index that establishes such a ranking. Concentrating on the Asia Pacific region, the index begins with a definition of international competitiveness. It then specifies series to make the definition quantifiable, and gathers data on those series and combines the numbers under various weight structures. Formally called the Index of International COMpetitiveness, it is known as ICOM for short.

Suggested Citation

  • James H Gapinski, 2001. "Developing ICOM: An Index of International Competitiveness," Palgrave Macmillan Books, in: Harry Bloch & Peter Kenyon (ed.), Creating an Internationally Competitive Economy, chapter 3, pages 36-48, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-55706-2_3
    DOI: 10.1057/9780230557062_3
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