Important factors in a nations international competitiveness ranking

Mashabela, Juliet and Raputsoane, Leroi (2018): Important factors in a nations international competitiveness ranking.

Abstract

This paper analyses the importance of competitiveness factors in international competitiveness ranking of South Africa. In particular, the paper investigates the odds in favour of an improved, as opposed to a deteriorated, Overall international competitiveness ranking due to a change in selected competitiveness factors. The results show that the autonomous improvement in Overall international competitiveness ranking is statistically insignificant while the effect of a change in Government efficiency also has a statistically insignificant effect on the odds in favour of an improved Overall international competitiveness ranking. The results further show that a change in Economic performance, Business efficiency and Infrastructure increase the odds in favour of an improved Overall international competitiveness ranking. Finally, a change in Infrastructure has the biggest odds in favour of an improvement in Overall international competitiveness ranking compared to a change in Economic performance and Business efficiency.

• Item Type: MPRA Paper
• Language: English
• Keywords: Competitiveness factors, International competitiveness ranking
• Subjects: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C12 - Hypothesis Testing: General; E - Macroeconomics and Monetary Economics > E0 - General > E02 - Institutions and the Macroeconomy; F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms ; International Business; I - Health, Education, and Welfare > I3 - Welfare, Well-Being, and Poverty > I31 - General Welfare, Well-Being

References

Akaike, H. (1974). A New Look at the Statistical Model Identification. IEEE Transactions on Automatic Control, 19(6):716-723.

Aktas, E., Kabak, O., Onsel, S., Ulengin, F., Ulusoy, G., and Topcu, Y. I. (2008). A New Perspective on the Competitiveness of Nations. Socio Economic Planning Sciences, 42(4):221-246.

Baker, R. J. and Nelder, J. A. (1972). Generalized Linear Models. Wiley Online Library.

Balkyte, A. and Tvaronaviciene, M. (2010). Perception of Competitiveness in the Context of Sustainable Development: Facets of Sustainable Competitiveness. Journal of business economics and management, 11(2):341-365.

Berger, T. (2008). Concepts of National Competitiveness. Journal of International Business and Economy, 9(1):91-111.

Bingham, N. and Fry, J. M. (2010). Generalised Linear Models. In Bingham, N. and Fry, J. M., editors, Regression, pages 181-201. Springer.

Blanchard, O. J., Hall, R. E., and Hubbard, R. G. (1986). Market Structure and Macroeconomic Fluctuations. Brookings Papers on Economic Activity, 1986(2):285-338.

Bris, A. (2017). Message from the IMD World Competitiveness Center Director. Brochure. Institute for Management Development (IMD).

Bris, A. and Cabolis, C. (2017). How does IMD World Competitiveness Center Prepare Data for the Competitiveness Rankings. Manual. Institute for Management Development (IMD).

Buckley, P. J., Pass, C. L., and Prescott, K. (1988). Measures of International Competitiveness: A Critical Survey. Journal of Marketing Management, 4(2):175-200.

Dixit, A. and Norman, V. (1980). Theory of International Trade: A Dual, General Equilibrium Approach. Cambridge University Press.

Freeman, C. (2004). Technological Infrastructure and International Competitiveness. Industrial and Corporate Change, 13(3):541-569.

Gujarati, D. N. (2003). Time Series Analysis. McGraw Hill, New York, 4th edition.

Hamilton, J. D. (2017). Why You Should Never Use the Hodrick Prescott Filter. Review of Economics and Statistics, 0(ja).

Hodrick, R. and Prescott, E. C. (1997). Postwar U.S. Business Cycles: An Empirical Investigation. Journal of Money, Credit and Banking, 29(1):1-16.

Hosmer, D. W., Hosmer, T., Le Cessie, S., Lemeshow, S., et al. (1997). A Comparison of Goodness of Fit Tests for the Logistic Regression Model. Statistics in Medicine, 16(9):965-980.

IMD World Competitiveness Center (2014). IMD World Competitiveness Yearbook 2014 . Institute for Management Development (IMD), Switzerland.

IMD World Competitiveness Center (2017). IMD World Competitiveness Yearbook 2017 . Institute for Management Development (IMD), Switzerland.

IMD World Competitiveness Yearbook (2016). Frequently Asked Questions . Institute for Management Development (IMD), Switzerland.

Ketels, C. (2016). Review of Competitiveness Frameworks. National Competitiveness Council. Dublin.

Kharlamova, G. and Vertelieva, O. (2013). The International Competitiveness of Countries: Economic-Mathematical Approach. Economics and Sociology , 6(2):39.

King, R., Plosser, C. I., Stock, J. H., and Watson, M. W. (1991). Stochastic Trends and Economic Fluctuations. American Economic Review , 81(4):819-840.

Kliesen, K. L. and Krugman, P. (1995). The Fixation on International Competitiveness. The Regional Economist , Jan:4-9.

Krugman, P. R. (1994). Competitiveness: A Dangerous Obsession. Foreign Aairs , 73(2):28-44.

Krugman, P. R. (1996). Making Sense of the Competitiveness Debate. Oxford Review of Economic Policy, 12(3):17-25.

Kydland, F. E. and Prescott, E. C. (1990). Business Cycles: Real Facts and a Monetary Myth. Quarterly Review , 4:3-18. Federal Reserve Bank of Minneapolis.

Mashabela, J. and Raputsoane, L. (2018). The Behaviour of Transitory and Potential Disaggregated Output Over the Economic Cycle. Working Paper , 84422. Munich Personal RePEc Archive.

McFadden, D. (1973). Conditional Logit Analysis of Qualitative Choice Behavior. In Zarembka, P., editor, Frontiers in Econometrics , pages 105-142. Academic Press.

Mise, E., Kimand, T., and Newbold, P. (2005). On Suboptimality of the Hodrick Prescott Filter at Time Series Endpoints. Journal of Macroeconomics , 27(1):53-67.

Nelder, J. A. and Wedderburn, R. W. M. (1972). Generalized Linear Models. Journal of the Royal Statistical Society , 135(3):370-384.

Nelson, C. R. and Plosser, C. R. (1982). Trends and Random Walks in Macroeconomic Time Series: Some Evidence and Implications. Journal of Monetary Economics , 10(2):139-162.

Orphanides, A. and Williams, J. C. (2002). Robust Monetary Policy Rules with Unknown Natural Rates. Brookings Papers on Economic Activity , 2002(2):63-118.

Pampel, F. C. (2000). Logistic Regression: A Primer , volume 132. Sage Publications.

Porter, M. E. (1990). The Competitive Advantage of Nations. Competitive Intelligence Review , 1(1):14-14.

Porter, M. E. (2011). Competitive Advantage of Nations: Creating and Sustaining Superior Performance , volume 2. Simon and Schuster.

Pregibon, D. (1981). Logistic regression diagnostics. The Annals of Statistics , pages 705-724.

Ravn, M. O. and Uhlig, H. (2002). On Adjusting the Hodrick Prescott Filter for the Frequency of Observations. Review of Economics and Statistics , 84(2):371-376.

Solvell, O. (2015). The Competitive Advantage of Nations 25 Years: Opening up New Perspectives on Competitiveness. Competitiveness Review , 25(5):471-481.

Torres-Reyna, O. (2014). Getting Started in Logit and Ordered Logit Regression , volume 3.1. Data and Statistical Services. Princeton University.