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Competitiveness Indicators; A Theoretical and Empirical Assessment

Author

Listed:
  • Ian W. Marsh
  • Stephen Tokarick

Abstract

This paper discusses five indicators of competitiveness: real exchange rates based on consumer price indices, export unit values of manufacturing goods, the relative price of traded to nontraded goods, normalized unit labor costs in manufacturing, and the ratio of normalized unit labor costs to value-added deflators in manufacturing. It discusses how each of these measures is associated with changes in a country’s balance of trade in goods and nonfactor services and examines the relationship among these indicators. It then examines the empirical performance of three of the indicators in terms of their ability to explain trade flows.

Suggested Citation

  • Ian W. Marsh & Stephen Tokarick, 1994. "Competitiveness Indicators; A Theoretical and Empirical Assessment," IMF Working Papers 94/29, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:94/29
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    Citations

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    Cited by:

    1. Valerie Cerra & Jarkko Soikkeli & Sweta C. Saxena, 2003. "How Competitive is Irish Manufacturing?," The Economic and Social Review, Economic and Social Studies, vol. 34(2), pages 173-193.
    2. Carlos Huertas Campos & Consuelo Villalba Torres & Julián Parra, 2004. "Índice De Competitividad Colombiana Con Terceros Países En El Mercado Estadounidense (Itcr-C)," BORRADORES DE ECONOMIA 002836, BANCO DE LA REPÚBLICA.
    3. Luc Eyraud, 2009. "Madagascar; A Competitiveness and Exchange Rate Assessment," IMF Working Papers 09/107, International Monetary Fund.
    4. Ingrid Majerová & Jan Nevima, 2015. "Exploring regional aspects of competitiveness in the selected countries of Visegrad Group Plus," Working Papers 0017, Silesian University, School of Business Administration.
    5. Charalambos G Tsangarides & Gustavo Ramirez, 2007. "Competitiveness in the CFA Franc Zone," IMF Working Papers 07/212, International Monetary Fund.
    6. Eckhard Siggel, 2006. "International Competitiveness and Comparative Advantage: A Survey and a Proposal for Measurement," Journal of Industry, Competition and Trade, Springer, vol. 6(2), pages 137-159, June.
    7. Dominique Peters, 2010. "Price Competitiveness in Central and Eastern Europe - a case study for transition economies," IMK Studies 01-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    8. Rupert D Worrell, 2003. "A Currency Union for the Caribbean," IMF Working Papers 03/35, International Monetary Fund.
    9. International Monetary Fund, 2002. "Tunisia’s Experience with Real Exchange Rate Targeting and the Transition to a Flexible Exchange Rate Regime," IMF Working Papers 02/190, International Monetary Fund.
    10. Alege, Philip O. & Okodua, Henry, 2014. "International Competitiveness and Growth of the Nigerian Economy: A Structural VAR-Based Perspective," Research in Applied Economics, Macrothink Institute, vol. 6(4), pages 53-74, December.
    11. repec:wsi:jicepx:v:06:y:2015:i:02:n:s1793993315500106 is not listed on IDEAS
    12. Bogetic, Zeljko & Espina, Carlos & Noer, John, 2007. "Cote d'Ivoire : competitiveness, Cocoa, and the real exchange rate," Policy Research Working Paper Series 4416, The World Bank.

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