Beginning of the End of Cost Competitiveness in CEE Countries - Analysis of Dependence between Labor Costs and Internationalization of the Region

• Autorzy: Witold Wiliński

Warianty tytułu

Początek końca konkurencyjności kosztowej państw Europy Środkowej i Wschodniej - analiza zależności pomiędzy kosztami pracy a internacjonalizacją regionu

• Języki publikacji: EN

Abstrakty

EN

The main purpose of this study is to verify whether previous low level of labor costs being one of competitive edges of CEE countries is a factor that may determine competitiveness of this region in the long run. In the study a regression analysis has been carried out on the sample of all EU countries in order to verify the dependence between internationalization degree measured by OFDI stock per capita on labor costs in manufacturing sector and on GNP per capita. The results of the regression analysis clearly show the occurrence of such dependence. This means that gradual increase in labor costs in CEE countries will result in not only reduced inflow of investments from developed countries to this region but also transfer of production to more cost competitive countries. In order to exemplify the above econometric model I carried out empirical analysis of the companies listed on the Warsaw Stock Exchange, identifying the companies for which efficiency-seeking is the main internationalization motive. The analysis of internationalization of 26 companies during the years 1990-2010 clearly shows that a significant part of investments is located outside the territory of Poland, in the countries with lower labor costs. This fact confirms that CEE countries will gradually become less and less attractive in terms of costs not only for MNEs from developed countries but also for the companies originating from transition economies. (original abstract)

Głównym celem artykułu jest weryfikacja, czy niski poziom kosztów pracy w Europie Środkowej i Wschodniej będący do tej pory jednym z czynników wpływających na konkurencyjność tego regionu pozostanie nim w dłuższej perspektywie czasowej. W pracy na podstawie próby wszystkich państw UE zbadano zależność pomiędzy poziomem internacjonalizacji (stan odpływu BIZ per capita) a kosztami pracy w sektorze przedsiębiorstw i GNP per capita. Analiza regresji potwierdziła istnienie zależności pomiędzy wyżej wymienionymi czynnikami. Oznacza to, że stopniowy wzrost kosztów pracy w państwach Europy Środkowej i Wschodniej prowadził będzie do stopniowego odpływu BIZ z tego regionu do państw bardziej konkurencyjnych kosztowo. W celu egzemplifikacji powyższych zależności w pracy dodatkowo przedstawiono analizę inwestycji zagranicznych polskich spółek notowanych na GPW, z których to 26 dokonało inwestycji zagranicznych o wyraźnych motywach związanych z obniżeniem kosztów produkcji. Fakt ten potwierdza powolny spadek konkurencyjności kosztowej polskiej gospodarki, tym samym zmusza do poszukiwania nowych rozwiązań instytucjonalnych mogących utrzymać konkurencyjność polskiej gospodarki w długim okresie. (abstrakt oryginalny)

Słowa kluczowe

EN

Internationalisation of economy; Regions competitiveness; Labour costs

PL

Internacjonalizacja gospodarki; Konkurencyjność regionów; Koszty pracy

• Czasopismo: Comparative Economic Research
• Rocznik: 2012
• Tom: 15
• Numer: nr 1
• Strony: 43--59

Twórcy

autor

Witold Wiliński

• Warsaw School of Economics, Poland

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Identyfikatory

DOI

https://doi.org/10.2478/v10103-012-0003-0