Author(s):
1. Lejla Terzić, Ekonomski fakultet Brčko Univerzitet u Istočnom Sarajevu, Republic of Srpska, Bosnia and Herzegovina

Abstract:
In recent years, competitiveness of countries has been a topic that receives a growing attention among policy/decision makers worldwide. In order to implement a comparative analysis of reliable competitiveness indicators, it is very important that the concept of competitiveness is well understood. Competitiveness indicators can contribute to the identification of standards between countries if the competitiveness analysis is reliable. The country rankings contribute economic policy makers to evaluate and improve competitiveness results. Therefore, competitiveness indicators developed by the World Economic Forum, World Bank, European Bank for Reconstruction and Development and Heritage Foundation make it possible to analyze factors that best represent the economic performance and competitive strengths and weaknesses of analyzed countries. The aim of this paper is to analyze competitiveness indicators obtained by the application of different methodologies that effect a better comprehension of the competitiveness of selected transition countries (Albania, Bosnia and Herzegovina, Montenegro, Macedonia, Serbia, Romania and Bulgaria) with selected post-transition countries (Croatia, Slovenia, Estonia, Latvia, Lithuania, Hungary and Poland), as well as the correlations of rankings based on various surveys and the consistency of their results. The reason for comparing the selected transition countries with post-transition countries stems from the similarity of developmental assumptions and the way of economic development. Comparative analysis of the competitiveness indicators of selected transition countries is based on a comparison of results obtained by the application of different methodologies, the valorization of their advantages and the determined statistical correlation between certain countries’ positions regarding different competitiveness surveys and macroeconomic indicators. Relevant national competitiveness indicators are identified and used to construct national rankings for selected transition countries. The results indicate significant changes in their relative rankings from these previous surveys, and provide key recommendations to policy/decision makers. Also, the comparative analysis of competitiveness indicators has suggested a variety of starting points to tackle the shortcomings and constraints to future economic development in selected transition countries.

Key words:
comparative analysis, competitiveness, indicators, methodology, transition countries

Date of abstract submission:
08.03.2014.

Conference:
REDETE 2014 - Researching Economic Development and Entrepreneurship in Transition Economies