In the long run, though, some suggest that the competitiveness gains from a currency adjustment could help Greece back on its feet.
As things stand, the economy will by 2002 have lost almost all the competitiveness gained in 1998.Reading too much into Russian statistics would, as ever, be unwise.
In diametrical opposition to standard predictions, the theory of lead markets conjectures potential competitiveness gains from environmental regulation.
In the first one, growth is directly driven by R&D expenditures, while in the second phase, innovation is the engine of growth through productivity and competitiveness gains.
Short-term interest rates are stuck at 25%, and inflation, now 8.9% and rising, is wiping out much of the competitiveness gained when the baht was devalued.
Since 1994, when China devalued the yuan by nearly 50%, domestic inflation has eroded most of the competitiveness gained through devaluation.
As an overall analysis of the results of Vollrath's indices during the period 1996 2014, it could be concluded that there are competitiveness gains for the majority of orange suppliers to Russia, albeit to varying degrees.
When Germans endured years of low wage rises and tough welfare and labour-market reforms to boost competitiveness, they gained from the inability of their neighbours to devalue.
However, this race to the bottom is not optimal: if country X decreases its wage levels, competing countries can also do the same thing to offset the relative competitiveness temporarily gained by X.
Both are helping to improve Ireland's competitiveness, a vital gain for a small open economy.
