Globalization, international competitiveness, and European regions

The past decade has witnessed an increasingly rapid tendency toward globalization in the world economy and this has sharply increased the international competitiveness and growth of nations. While globalization has affected the international competitiveness of large and small nations in a similar way, there are some differences, as indicated by the fact that a majority of the most competitive economies in the world are small; Similarly, most advanced European regions are more internationally competitive than the nation of which they are part.