Theories of International Trade and Investment

timer Asked: Feb 8th, 2019
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Question Description

Explain how nations can enhance their competitive advantage. What are the determinants of national competitiveness? Provide at least one example of a country with successful national industrial policies.

Your well-written paper should meet the following requirements:

7 pages in length (not include cover, reference page)

Support your analysis by referencing and citing at least 5 scholarly sources in addition to embedding course material concepts and principles.

Use APA style guidelines, citing references as appropriate.

course references:

Tutor Answer

School: UCLA



Enhancement of National Competitiveness
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The way and means in which an economy of a given nation based on the attainable ability
is referred to as National competitiveness (Hull, 2017). To assess the ability of national
competitiveness there must factors, institutions and policies upon which a country can determine
her productivity level. For a national ecomoy to be placed in a good performance in the
assessment scale it has to be viable and posses’ ability to life quality for the citizens. This
concept is also known to be a relative one as it may have to rely on the nation’s approximate
capability to compete with countries for investments and human capital while growing at the
same time. Though people may adapt information various resources it is directed that only the
World Economic Forum's annual competitiveness which has the moral authority to give a
national competitive report of countries.
For the sake of national competitiveness advantage, the prosperity of a nation is never
inherited but rather created. It also does not emanate from the countries labor pool, interest rates,
natural endowments or even its currency value as per Classical economics (Keynes, 2018). This
aspect which holds much of what a country could be proud of depends on industrialization
capacity, upgrading and degree of innovation. World over, it has been shown that companies
from different economic sectors may gain competitiveness milestone out of pressure. National
creativity, innovation for a long time was known to be a U.S.A affair but of late the rate of
industrialization based on innovation has increased in many other countries. Ina case where
policies of the ruling government are favoring the countries industrialization it translates that the
development future of the countries good.
First of all, competitiveness is one aspect to understand well as it will lead us to properly
conceptualize the national competitiveness determinants. Scholars have described national
competitiveness as a phenomenon connected to the macroeconomic environment and depending



on rates of exchange, government deficits and interest rates (Hull, 2017). It has also been argued
that abundant labor that is cheap helps to bring about the nation's competitiveness. From a
different perspective competitiveness is connected to natural resources that are bountiful,
however, this view intrigues why then and how would tell the success of countries like Japan and

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Good stuff. Would use again.

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