24 February 2016 - How can the NI economy become more competitive in 21st century global economy?
Channel: Northern Ireland Assembly
Date: 03/03/2016

Prof Rob Gilles (QUB)
The Northern Ireland (NI) economy competes in an increasingly complex global setting. Since 2007 the global economy seems to be in a perpetual state of volatility. This presentation addresses how recent developments in economics can help understand how businesses and economies compete in this global setting and how these insights can inform policy decisions to promote competitiveness of the NI economy.

Recent research has shown that the global economy can best be understood as a complex of networks. Businesses and governments interact through relationships that make up supply-chains, social networks and interactive platforms. Competitiveness thus aims to control, regulate and enhance the networks one participates in. Business practices consequently focus on strategic mergers and institutional innovation, which are observed widely in our contemporary global economy. From this perspective, the presentation assesses issues related to attracting businesses to NI and the question whether lowering corporation tax would be beneficial.