Abstract
With the rapid development of high quality industries, it is particularly important to study the sustainable competitiveness of manufacturing and its driving factors. The aim of this paper is to build the whole competitiveness index to analyze the recent development trends of manufacturing in G20 participating countries from 2008 to 2018. Meanwhile, based on the diamond theory, this paper adopted a panel regression model to conduct an empirical analysis on various factors that affect the sustainable competitiveness of manufacturing. These results showed the following: (1) Transport services have the most significant effect on manufacturing in developing countries. (2) Intellectual property only has a positive and significant effect on manufacturing in developed countries. (3) Information technology plays a significant role in all countries, but it is more effective in developed countries. Finally, this paper puts forward some suggestions for the sustainable development of manufacturing.
Highlights
With the continuous development of the Internet of Things [1] and the progress of information technology [2], all countries in the world are actively taking action to emphasize the importance of manufacturing in the national economy
The G20 group is an organization that promotes the development of the industrialized market, and its participants play an important role in promoting economic stability and sustained growth
We find that the impact of financial services are various, the relationship between intellectual property services and manufacturing on the manufacturing industry can be ignored
Summary
With the continuous development of the Internet of Things [1] and the progress of information technology [2], all countries in the world are actively taking action to emphasize the importance of manufacturing in the national economy. The number of countries beginning to attach importance to the sustainable development of manufacturing is rising. As a result, measuring the driving factors of manufacturing competitiveness has become an urgent task. The analysis of manufacturing competitiveness and its driving factors can effectively identify new problems and phenomena in the development of manufacturing, and promote the world’s major economies to participate in the sustainable development of manufacturing. This study attempts to help readers understand this field, that is, to ensure the sustainable development of manufacturing by looking for the driving factors of manufacturing competitiveness. The earliest research on the industrial competitiveness can be traced back to the 1980s
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