IT IS NOT A REGION AS A REGION AND DIVERSITY AMONG THEM. COMPARISON OF COMPETITIVENESS OF NEW AND TRADITIONAL HEGEMONS
IT IS NOT A REGION AS A REGION AND DIVERSITY AMONG THEM. COMPARISON OF COMPETITIVENESS OF NEW AND TRADITIONAL HEGEMONS

Author(s): Michaela Staníčková, Lenka Fojtíková
Subject(s): Business Economy / Management, Economic development, Transformation Period (1990 - 2010), Present Times (2010 - today), Globalization
Published by: Masarykova univerzita nakladatelství
Keywords: competitiveness; data envelopment analysis; global economic powers; globalisation; Malmquist productivity index; productivity; region; World Economic Forum;
Summary/Abstract: In the past decades, the developing economies in Asia registered a higher growth rate than other world regions. Considering the increasing importance of economic growth in the competitive world, all countries possess development threats as well as opportunities. Use these options enough and hence increase competitiveness must be efficient enough. Therefore, the external environment is indispensable to Asia’s development and prosperity, where the openness and competition among different Asian economies would promote economic development efficiency. The aim of the paper is to employ the Data Envelopment Analysis method for comparing the productivity level and efficiency changes of countries from the Asian region in comparison with the traditional Western economic hegemons. We apply this approach to a real data set involving 56 states within the factors of competitiveness based on the World Economic Forum approach in reference period 2007-2018, i.e. pre-in-post crisis years. From an economic development perspective, the Asian region remains to be the core of global economic growth. Globalisation is indispensable to the development and prosperity in all multi-factorial aspects of competitiveness.

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