The large exchange rate depreciations registered in a number of Asian countries since mid-1997 have raised the issue of whether this could lead to major shifts in the relative costs and prices of production across countries, and hence in the relative competitive positions of OECD and non-OECD countries. To take account of the growing importance of Asian emerging economies in world markets, they have been added, together with a number of other non-OECD emerging market economies, to the group of countries covered in the calculation of the OECD Secretariat competitiveness indicators. The main findings that emerge from the analysis presented in this Working Paper are the following: first, the United States is by far the most competitive economy among major OECD countries, both in terms of higher productivity performance and lower absolute cost levels in the manufacturing sector. However, emerging market economies for which data are available display significantly lower levels of unit ...

Les importantes dépréciations de change enregistrées par un certain nombre d’économies émergentes d’Asie depuis la mi-97 ont soulevé la question de savoir si cela risquait de conduire à des changements significatifs de prix et coûts relatifs entre les pays OCDE et non-OECD. Afin de prendre en compte l’importance croissante des économies émergentes d’Asie dans les échanges mondiaux, ces dernières ont été ajoutées, avec d’autres économies émergentes, au groupe de pays entrant dans le calcul des indicateurs de compétitivité du Secrétariat de l’OCDE. Les principaux résultats de l’analyse présentée dans ce document de travail sont les suivants: premièrement, les Etats Unis sont de loin l’économie la plus compétitive parmi les pays de l’OCDE,à la fois en termes de niveaux de productivité ou de coûts salariaux unitaires de main d’oeuvre dans le secteur manufacturier. Cependant, les niveaux de coût dans les économies émergentes pour lesquelles il existe des données sont nettement plus bas ...

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Paper provided by OECD Economics Department in its series OECD Economics Department Working Papers with number 195.

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