By Peter Havlik
Even supposing the 4 international locations thought of during this research are the main built transition international locations in Europe, their normal wages are just a fragment of West eu degrees. whereas the hard work bills might theoretically provide the important and jap ecu (CEEC) international locations a bonus, capital shortages and the shortcoming of talents required for a industry economic system hinder its use. The file used to be ready less than the auspices of the realm financial institution via Peter Havlik, Deputy Director of the Vienna Institute for foreign fiscal stories (WIIW). This file experiences salary and hard work productiveness advancements and examines the evolution of export competitiveness. It additionally summarizes the most findings from the continuing examine through WIIW at the influence of overseas direct funding on restructuring and offers a few coverage thoughts.
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Additional resources for Trade and cost competitiveness in the Czech Republic, Hungary, Poland, and Slovenia, Volumes 23-482
Sample text
At the same time, FIEs pay, on the average, about 20-30 percent higher wages than domestic companies. This would imply that the overall labor cost advantages identified above are even more pronounced in FIEs operating in CEECs. The gap in performance between FIEs and domestic enterprises did not grow in the Czech Republic during 1994-96, whereas it decreased in Slovenia. In Hungary, the high and increasing productivity gap shows on one hand the FIEs’ dynamism, and on the other hand it demonstrates an unhealthy duality between the foreign and domestic sectors.
Benchmark PPPs for 1996 were estimated from purchasing party standards for OECD (28) averageand exdrapolatedwlth GDP Price Sources: BENCHMARK RESULTS OFTHE 1996 EUROSTAT-OECDCOMPARISON BY ANALYTICAL CATEGORIES,OECD. 1999; NationalStatistics;WIFO:WIIWestimates. 2 lW7 1W prelim. 3 -1.?. 9 1- Czech Ropubllc Exchangeme (ER). CWECU Red ER (CPI-bead) Rosl ER ( P P W AvewP w wtlgos. gcs. ~ reel (PPI based) Apogwtlgos. real (CPI based) Apogwag04 ECU (ER) Empkymonlt d GDP porompl. penon, C Z at 1996pr. unn labar coas.
17. “Competitive gain” is here defined as the gain of market shares in the EU( 12), weighted by the value of exports of a particular industry in the base year (1993). A negative “structural effect” (registered especially in Poland and Slovenia) means that CEECs specialize in export products for which demand is growing at below average in the EU; the effect of “general demand” measures the growth of total extra-EU imports (see Havlik 1995). 18. Lacking other data, we used at this stage of research factor intensities derived for the four largest EU countries (Germany, France, Italy, and the United Kingdom) (see Landesmann 1995 and European Economy (1995).