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Microeconomic and macroeconomic determinants of competitiveness of East European countries in 2012

Author

Listed:
  • Nebojsa Savic
  • Goran Pitic
  • Snezana Konjikusic

Abstract

Due to the fact that competitiveness is the key indicator of sustainable economic growth, we analysed competitiveness of eight South East European (SEE-8) countries and compare them with eight Central European and Baltic (CEE-8) countries. We used one-way ANOVA and Friedman tests with p-values analysing GDPpc ppp and competitiveness ranks as well as NGC Index methodology analysing Porter's diamond. Competitive advantages of SEE-8 reside in first two elements of diamond: factor conditions and then in a part of the context for strategy and rivalry. On the other hand, there are distinct competitive disadvantages in all four elements of the diamond. For SEE-8, it is necessary to: strengthen regional infrastructure, remove trade and investment barriers, reduce market dominance and local monopolies and protect consumers; coordinate measures in financial markets; and sharing of best practices in government practice and create regional institutions and reducing corruption.

Suggested Citation

  • Nebojsa Savic & Goran Pitic & Snezana Konjikusic, 2014. "Microeconomic and macroeconomic determinants of competitiveness of East European countries in 2012," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 7(3), pages 264-280.
  • Handle: RePEc:ids:ijepee:v:7:y:2014:i:3:p:264-280
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    Cited by:

    1. Elena Popkova & Oksana Chechina & Aleksandra Sultanova, 2016. "Structural and Logical Model of Contemporary Global Economic System," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 218-227.

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