Theoretical Grounds of the Development of Long-Term Competitive Advantages in International Trade
Nowadays, we are witnessing an increasingly rapid process of internationalization of economic life. Such a state of affairs stems from many causes; however, striving for the welfare of populations of individual countries and regions may be considered the
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Theoretical Grounds of the Development of Long-Term Competitive Advantages in International Trade Józef Misala
Nowadays, we are witnessing an increasingly rapid process of internationalization of economic life. Such a state of affairs stems from many causes; however, striving for the welfare of populations of individual countries and regions may be considered the prevailing one. This causes increasingly intense mutual competition between various economic entities (households, enterprises, associations thereof, etc.), both on domestic markets and on international markets. In addition, authorities of individual countries and their groups participate in this struggle by way of determining the institutional and instrumental (systemic) frameworks for competition of the said entities. It is accompanied by theoretical research aimed at the development of a kind of subdiscipline of economics, generally defined as the theory and politics of international competitiveness of national economy. The main goal of this chapter is to discuss the theoretical grounds of development of international competitiveness of the national economy of a specific country, and, more specifically, the development of its long-term competitive advantages in international trade with particular focus on their nature, determinants, and methods of analysis. Apart from that, the aim is also to draw conclusions for international competitiveness analysts and economic policymakers at the central level. It is necessary to present an outline of the available achievements of relevant normative orthodox and heterodox theories and to pay particular attention to the issues of natural (objective) shaping of comparative advantages and the policy of shaping such advantages (the so-called competitive advantages) in international trade of individual countries and groups thereof, and thus, in summary, also in international trade as a part of the contemporary global economy. In investigations contained in subsequent subchapters, attention is paid to theoretical issues of competition on a macroscale, and so at the level of countries. It does not mean that problems of international competition of other types of economic entities, households, and enterprises of various types, in particular, are virtually J. Misala () World Economy Research Institute, Warsaw School of Economics, Al. Niepodleglosci 162, 02-554 Warsaw, Poland e-mail: [email protected] M. A. Weresa (ed.), Innovation, Human Capital and Trade Competitiveness, Innovation, Technology, and Knowledge Management, DOI 10.1007/978-3-319-02072-3_1, © Springer International Publishing Switzerland 2014
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passed over. It is assumed that such problems are background ones, which is not tantamount to failing to recognize their significance, which is altogether substantial and growing.
1.1 Essence of the Theory of International Competitiveness of a National Economy 1.1.1 The Concept of International Competitiveness It is quite common to consider that each economic theory should play three basic functions,
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