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Factors affecting competitiveness (Labour market (Flexibility #, Market…
Factors affecting competitiveness
Health
Sick leave cost
Absence, productivity
Macro environment
Fiscial wealth
affected by tax policy
Small government role
Welfare expenditure
Political conditions
Education
Base education
Efficiency
High education
Use of tech
Adaptability
Innovation capacity
Move from low end to high end (aka Value added)
Technology
Innovation
Conducive environment
E.g. HK ossified education system
E.g. Freedom of speech
Infrastructure
e.g. Transportation
Connect markets
Low cost
e.g. Online shopping
E.g. Flow of information
Labour market
Flexibility
#
Market efficiency
Productivity
Market demand
Purchasing power