![](https://www.wifo.ac.at/wp-content/uploads/2023/07/TP_Wettbewerbsfaehigkeit_cKaloyan_Draganov_unsplash-1920x2291.jpg)
Competitiveness
By competitiveness, WIFO means the ability of an economic system to generate permanently high real incomes and to improve social and environmental living conditions under constantly changing and reshaping framework conditions. Empirical findings on the strengths and weaknesses of regions and locations are important indicators for the success of economic policy and at the same time point to the need for reform.
There are both synergies and conflicting goals between the different dimensions of competitiveness. To ensure that long-term goals are not neglected in favour of short-term aspects, competitiveness requires the consideration of different time horizons:
- In the short term, the focus is on adaptability to changing framework conditions. Imbalances should be avoided and macroeconomic stability maintained. Typical indicators are, for example, the real effective exchange rate, unit labour costs, inflation or the current account balance. The most important macroeconomic control factors include monetary, fiscal and wage policy.
- In the medium term, it is about the dynamics of the economic system, expressed both in productivity growth and in the goals of full employment, high market shares in exports or improving energy and resource efficiency. The most important determinants include innovation and investment, internationalisation as well as competition and regulation.
- In the long term, the focus is on quality of life. Priority goals are sustainably high real incomes, inclusion and social participation as well as the improvement of the natural environment, with a particular focus on competition-relevant aspects (e.g., resource efficiency or the social system as a productive factor).
A particular challenge is to advance the implementation of these goals simultaneously.
Recent publications
Study
21.06.2024
Finalization: June 2024
Project partner Austrian Institute of Economic Research, Statistics Austria
Contractor project: Federal Ministry of Agriculture, Regions and Tourism
Article
19.06.2024
Specialist publication: Akademie im Dialog – Forschung und Gesellschaft
Study
14.06.2024
An Analysis of ERDF and ESF Support for S3 Skills in the 2014-2020 Programming Period
WIFO Reports on Austria
07.06.2024
The Austrian Economy in 2023
Finalization: June 2024
Specialist publication: WIFO Reports on Austria
JEL-Codes: E32, E66
Recent projects
Project
Ongoing project since: 22.12.2023
Supported by: Anniversary Fund of the Oesterreichische Nationalbank
Project
Ongoing project since: 16.11.2023
Contractor project: Austrian Council for Research and Technology Development
Project
Ongoing project since: 05.09.2023
Contractor project: Austrian Patent Office, World Intellectual Property Organization
Project
Closed: 30.11.2023
Contractor project: Federal Ministry of Labour and Economy
Recent events
06.07.2024
Technische Universität Ilmenau
05.07.2024-
06.07.2024
06.07.2024
Sky Lounge (12th floor), Faculty of Business, Economics and Statistics, University of Vienna