ENGLISH

International competitiveness

By coll.

Book information

Language
english
Format
PDF
Filesize
4 MB (4628611 bytes)
Pages
0\142
Time added
2018-11-07 18:55:36

Description

Despite their frequent use, unit labour costs (ULCs) are an incomplete measure of international competitiveness, as they deal exclusively with the cost of labour and do not consider changes in the cost of capital or intermediate inputs. For this reason, they need to be complemented with other indicators. In an era of global value chains, a measure based only on the costs of domestic labour may not be representative of overall cost competitiveness of firms within a country. Moreover, ULCs as a measure of cost-competitiveness cannot capture the capacity of firms to serve international markets through high quality goods and services and where demand is relatively price inelastic.  Read more...

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