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Locational competition: A neglected paradigm in the international division of labour

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dc.creator Siebert, Horst
dc.date 2005
dc.date.accessioned 2013-10-16T06:18:01Z
dc.date.available 2013-10-16T06:18:01Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/3736
dc.identifier ppn:50275480X
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/3736
dc.description Krugman's verdict that competitiveness of countries is a largely meaningless concept is a serious misjudgement of the economics profession. Countries compete for the mobile factors of production, most importantly for capital and technology. The exit-option of these factors and of firms changes the calculus of national governments. This paper sets out the main elements of the concept of competition between locations - locational competition - and analyses its impact on welfare and employment of the capital-exporting country. It also looks at whether competition between countries necessarily results in a race to the bottom or whether it can function as a controlling mechanism for governments and as a discovery device. The paper discusses under which conditions common rules are needed to reduce transaction costs and to prevent strategic, opportunistic behaviour of countries and which common rules thus reduce transaction costs. Finally, it deals with the question whether one institutional equilibrium in the world economy can be expected or whether many national equilibriums can coexist.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1258
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F
dc.subject H
dc.subject J
dc.subject ddc:330
dc.subject Competitiveness of countries
dc.subject Mobile and immobile factors of production
dc.subject Exit option of capital
dc.subject Impact of capital exports on the capital
dc.subject Standortwettbewerb
dc.subject Institutioneller Wettbewerb
dc.subject Internationale Kapitalmobilität
dc.subject Internationale Arbeitsteilung
dc.subject Theorie
dc.subject Welt
dc.title Locational competition: A neglected paradigm in the international division of labour
dc.type doc-type:workingPaper

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