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Trends in OECD Countries' International Competitiveness: The Influence of Emerging Market Economies

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  • Martine Durand
  • Christophe Madaschi
  • Flavia Terribile

Abstract

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 ...

Suggested Citation

  • Martine Durand & Christophe Madaschi & Flavia Terribile, 1998. "Trends in OECD Countries' International Competitiveness: The Influence of Emerging Market Economies," OECD Economics Department Working Papers 195, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:195-en
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    File URL: http://dx.doi.org/10.1787/345570563225
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    Cited by:

    1. Kjell Erik Lommerud & Frode Meland & Lars S¯rgard, 2003. "Unionised Oligopoly, Trade Liberalisation and Location Choice," Economic Journal, Royal Economic Society, vol. 113(490), pages 782-800, October.
    2. José García-Solanes & Jesús Rodríguez-López & José Torres, 2011. "Demand Shocks and Trade Balance Dynamics," Open Economies Review, Springer, vol. 22(4), pages 739-766, September.
    3. Antonia Lopez Villavicencio, 2006. "Real Equilibrium Exchange Rates: a Panel Data Approach for Advanced and Emerging Economies," Economie Internationale, CEPII research center, issue 108, pages 59-81.
    4. Siebert, Horst, 1999. "How competitive is Europe's labor?," Kiel Working Papers 927, Kiel Institute for the World Economy (IfW).
    5. Janno Reiljan & Maria Hinrikus & Anneli Ivanov, 2000. "Key Issues In Defining And Analysing The Competitiveness Of A Country," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 1, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    6. Charles P. Thomas & Jaime R. Marquez & Sean Fahle, 2008. "Measuring U.S. international relative prices: a WARP view of the world," International Finance Discussion Papers 917, Board of Governors of the Federal Reserve System (U.S.).
    7. Coppel, Jonathan & Durand, Martine & Visco, Ignazio, 2000. "The European Monetary Union, the euro, and the European policy mix," Journal of Asian Economics, Elsevier, vol. 11(1), pages 31-63.
    8. Ionut-Cosmin BALOI, 2010. "Diagnosing the Potential of Renewable Energy in România," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 3(4(12)), pages 237-246.
    9. Francesco Aiello & Graziella Bonanno & Alessia Via, 2014. "Do Export Price Elasticities Support Tensions In Currency Markets? Evidence From China And Six Oecd Countries," Working Papers 201405, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
    10. Pelinescu, Elena & Caraiani, Petre, 2006. "Estimating the Real Effective Exchange Rate (REER) by Using the Unit Labor Cost (ULC) in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(4), pages 5-22, December.

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