Link btw int. competitiveness and structural change? (1 Viewer)

[rsingh]

Guys,

I'm a bit stuck on answering this essay question.

Analyse the relationship between international competitiveness and structural change in the Australian economy.

Any ideas?

 

[nick1048]

structural change i.e. microeconomic reform increases the three types of efficiencies. This leads to better allocation of resources, which leads to increased productivity, which leads to lowers prices, which leads to more competitive exports on global markets and hence increased international competitiveness... Make sense? Sorry I can't be bothered fully structuring my reply, but that's the principle you need to follow. Define all the terms, describe all the links and your set.

 

[Demandred]

Don't forget to mention its a race to the bottom.