International Productivity and Competitiveness by Bert G. Hickman

By Bert G. Hickman

This pathbreaking quantity conveys the "state of the artwork" of latest examine on productiveness progress and overseas competitiveness--arguably crucial difficulties dealing with modern economics. Adopting a world standpoint that includes comparative analyses of either industrialized and constructing nations, the ebook assembles papers from a global roster of prime students who disguise a variety of complementary issues and ways. some of the papers try to elevate the readability of puzzling over "competitiveness" by way of constructing formal definitions of the concept that and concerning it to extra traditional economics innovations comparable to productiveness. a few supply a macroeconomic standpoint while others evaluate cross-sections of person industries throughout nations or learn the efficacy of business regulations to advertise competitiveness. one of the universal topics, that are highlighted within the editor's assessment bankruptcy, are the size of work and overall issue productiveness, accounting for the assets of productiveness progress, using buying strength parity indexes in foreign comparisons of productiveness degrees, the global productiveness slowdown, the level of productiveness convergence between constructed economies, the primacy of alternate fee fluctuations in non permanent events of competitiveness because the early 1970's, and the reasons of the plain lack of U.S. competitiveness in the course of the 1980's.

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The leading industrial countries compete with one another in discovery, economic innovation, and the capturing of world markets in the new technologies, such as microelectronics, software, bioengineering, and new materials. The leaders among the newly industrialized economies (NIEs) also vie for a niche in this market as well as for growing shares of more conventional manufacturing— some of it sophisticated but not necessarily involving advanced technology. 6 billion, and recovered to near balance by 1987.

RESTRUCTURING OF THE WORLD ECONOMY 37 If we enlarge the scope of the share statistics to encompass total goods production and not simply manufacturing production, we find that the real share of goods in GNP has fallen since 1950 by about 2-3 percentage points, but that the share has been very steady at about 43 percent since 1970 (Leisenring, 1988). Value added is measured by the following formula: VA = GR / value gross intermediate added output input The controversy concerning measurement of the manufacturing share of real value added is based on several issues, the principal one being that real intermediate inputs that are subtracted from gross output to get value added are understated; therefore, value added is overstated (Mishel, 1988).

S. macroeconomic policies as causes of the recent fluctuations in real interest rates, and hence in exchange rates, is documented by Hooper, who observes that the rise in real interest rates in the early 1980s has been attributed to a combination of monetary tightening and fiscal expansion, whereas the subsequent decline in 1984-86 has been linked to both the adoption of a more accommodative monetary policy stance and improved prospects for a significant reduction of the federal budget deficit owing to the Gramm-Rudman-Hollings Act of 1985.

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