Munich Personal RePEc Archive

National competitiveness, dynamics of adjustment, and long term economic growth: conceptual, empirical, and policy issues

Howes, Candace and Singh, Ajit (1999): National competitiveness, dynamics of adjustment, and long term economic growth: conceptual, empirical, and policy issues. Published in: DAE Discussion Papers in Finance and Accounting, University of Cambridge No. No. AF43 (1999): pp. 1-40.

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Abstract

ABSTRACT

Although the concept of national competitiveness is widely used by policy makers at both the national and international levels, it has been the object of trenchant criticism in a series of influential contributions by Professor Krugman. He regards it as a meaningless concept and in the hands of naïve policy makers "a dangerous obsession" with harmful consequences. This paper challenges Professor Krugman's critique and suggests that its validity depends on a rather limited economic model whose assumptions are greatly at variance with the real world. The paper shows the analytical validity and usefulness of the concept specifically in relation to the UK and the US economies.

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