Search for: comparative advantages
INTEGRATION AND SPECIALIZATION
In the last ten years, in all documents of the European Union a special accent is placed on two main challenges – globalization and population ageing. Common base for adequate answer to these challenges is the competitiveness of the European economy. According to contemporary theory of competitive advantage of nations a main determinant of competitiveness is the efficiency with which national resources are used while necessary condition for enhancing of that efficiency is specialization. …
