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May 8-9, 2008 Berlin

Competition Matters - Success Factors of an Economy

What Determines Success and What Does This Mean for Policy?

Competition for global investment is a top priority for any nation of the world. During the IUF event: "Competition Matters - Success Factors for an Economy," several speakers gave presentations on some of the issues that face a nation in providing for the best environment for international investment in a given country. José Pinera spoke on Pension Reform for a Market Economy and later during the meeting there were three panels. These panels discussed issues including: "Cross Country - The International Battles Global Externalities, Regulations and Tax Competition," "Global Financial Regulations and Authorities," and "Values, which are worth fighting for..."  

 

In the first panel they discussed the competition that nations face when deciding on what regulations to place on global investments in their country and what the tax system is going to be when placed on these global companies. A country's policies on international investment can make or break whether a company decides that it is advantageous to invest in their economy and provide that nation with jobs, economic investments, and taxes. The second panel discuss the role of banks and the lending institutions as a base for creating a prosperous financial situation in a country and developing a basis for future financial development. The idea here is that banks finance businesses to grow and with a return on their investment are able to finance other future businesses. This ability creates a stable economic environment which makes the nation marketable for international investment by global companies. The third and final panel discussed the values that are associated with the creation of a stable and growing financial environment in a nation. The one value that was placed above all others was trust. Trust creates for a growing economy, increase in jobs, and for a wealthy financial sector. Trust in an economy and in a nation shows a company or business that their investment is a solid investment and there is potential for a great return, thus making the nation marketable.  

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