Global competitiveness research

Abstract

Wealth in all economies is being created at the microeconomic level through the activities of economic entities. Due to the disappearance of many barriers in international trade, i.e. reducing costs in transportation and communications, all countries and their economic subjects are now competing in the global market. In today's global economy, characterized by openness and integration, competitiveness plays a key role both in developed countries, as well as in developing ones. Competitiveness presents sustainable productivity growth driven by the quality of the strategy and operations of the company, affected by macroeconomic and microeconomic environment altogether. The level of competitiveness is determined by productivity - ability to produce goods and services using existing human, financial, natural and other resources. Productivity determines the standard of living of the country or a region, capital income, preservation of national wealth. Productivity also depends on the value of goods and services (e.g. of their uniqueness, quality) and the efficiency of their production. In order to identify as many indicators (variables) that are essential to the concept of competition, and get more reliable results when measuring the international competitiveness of countries, most commonly used and most accurate ones are three models: IMD model, the World Economic Forum model and the World Bank model. Those models have been successfully used by the CEER magazine, in order to conduct an analysis of competitiveness between Poland, the Czech Republic, Hungary, as well as of all developing countries (Serbia being among them).

Keywords

• competitiveness
• economic level
• modelling
• research