Socio-Cultural Factors and International Competitiveness Cover Image

Socio-Cultural Factors and International Competitiveness
Socio-Cultural Factors and International Competitiveness

Author(s): Madara Apsalone, Ērika Šumilo
Subject(s): Economy
Published by: Vilnius Gediminas Technical University
Keywords: cross-cultural studies; international competitiveness; socio-cultural factors.

Summary/Abstract: Socio-cultural factors – shared values, norms and attitudes are significant, but less acknowledged sources of international competitiveness. Previous studies have found socio-cultural factors positively affecting various aspects of international competitiveness – entrepreneurship, innovation, productivity and international cooperation. These factors are more sustainable and less affected by external environment changes in comparison with the traditional factors. Socio-cultural factors provide an opportunity to develop competitiveness strategies based on unique advantages.This research aims to explore the impact of socio-cultural factors on international competiveness in small, open economies. Analysing relationship between 400 socio-cultural indicators and competitiveness indicators such as productivity, economic development, business and government efficiency, innovation capacity and infrastructure in 37 countries, six socio-cultural factors have emerged: Collectivism and Hierarchy; Future, Cooperation and Performance Orientation, Self-expression, Monochronism and Rationality, Economic Orientation and Social structure. The first factor – Collectivism and Hierarchy – tends to reduce the international competitiveness; the other five affect it positively.

  • Issue Year: 13/2015
  • Issue No: 2
  • Page Range: 276-291
  • Page Count: 15
  • Language: English