McKinsey Global Institute Offers Insight into American Competitiveness

Posted on: April 9th, 2011 by NADO Admin

On Thursday April 7, Dr. Jaana Remes, Senior Fellow at the McKinsey Global Institute (MGI) (http://www NULL.mckinsey NULL.com/mgi/), presented findings from two recently released economic studies during Part 7 of the Know Your Region webinar series: Global Trends in Competitiveness and Productivity Growth.

Drawing from MGI’s report Growth and Renewal in the United States: Retooling America’s Economic Engine (http://www NULL.mckinsey NULL.com/mgi/publications/growth_and_renewal_in_the_us/index NULL.asp), Dr. Remes highlighted the importance of productivity growth as a function of increasing our nation’s gross domestic product (GDP) and maintaining our competitiveness against other global markets.

Dr. Remes also discussed the role of public policy in developing a well-balanced environment for businesses to compete successfully both domestically and abroad.  Referencing the MGI analysis How to Compete and Grow: A Sector Guide to Public Policy (http://www NULL.mckinsey NULL.com/mgi/publications/competitiveness/index NULL.asp), Dr. Remes distinguishes the amount of involvement government is likely to have related to sector size and type (see illustration below).

jpeg - policy sector

To view the recorded webinar in its entirety click here. (http://www NULL.vimeo NULL.com/22097621) To view Dr. Remes’s slides in PDF format, click here. (http://www NULL.slideshare NULL.net/mbellamente/kyr-part-7-remes-7563412)

The importance of these analyses should not be discounted by economic development stakeholders.   At a time when international financial recovery has opened the door for the U.S. to regain its footing as an economic leader, we will rely on technological advancement, reduction in market inefficiencies and refined public policy to move forward.

The NADO Research Foundation would like to thank EDA Senior Advisor and Director of External Affairs, Angela Martinez for delivering opening remarks during Thursday’s session, as well as Dr. Remes and MGI for her time and insight.

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