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Competitiveness Indicators: A Theoretical and Empirical Assessment
Author:
Ian W. Marshnull

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Mr. Stephen Tokarick
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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 029
Language:
English
Publication Date:
01 Mar 1994
DOI:
https://doi.org/10.5089/9781451844733.001
ISBN:
9781451844733
ISSN:
1018-5941
Pages:
52
Keywords:
WP; export unit value; traded goods; factor service; goods market; exportable goods; price terms; nominal exchange rate; index computed using consumer price indices; Consumer price indexes; Real exchange rates; Labor costs; Real effective exchange rates; Exports
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper discusses five indicators of competitiveness: real exchange rates based on consumer price indices, export unit values of manufacturing goods, the relative price of traded to nontraded goods, normalized unit labor costs in manufacturing, and the ratio of normalized unit labor costs to value-added deflators in manufacturing. It discusses how each of these measures is associated with changes in a country’s balance of trade in goods and nonfactor services and examines the relationship among these indicators. It then examines the empirical performance of three of the indicators in terms of their ability to explain trade flows.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1994: Issue 029