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108 INTERNATIONAL PUBLIC POLICY REVIEW trepreneur (presumable more for innovation that for imitation), with productivity parameters that vary by region. After a production technique has been mastered, the firm can manufacture the chosen product according to a constant-returns-to-scale production function (Grossman and Helpman 1991:1217). The theory posits that labour is a constant input and that the investment in human capital is vital to achieving growth. Some advocates of the endogenous growth the- ory suggest that, all innovation occurs in the North, and that knowledge acquisition in the South is confined to imitation. If two Southern firms have copied the same variety of consumer goods, these two will set prices equal to their marginal costs and earn zero profits. So the second of the imitators could never justify bearing the cost of reverse engineering. Therefore the only market structure that we need to consider for Southern producers is one where a single firm (an imitator) competes with a single Northern firm (the innovator) in the market for some variety (Gross- man and Helpman (1991:1218). An essential element of the endogenous growth theory is the need for the interven- tion of the state to encourage and support innovative and competitive policies. More specifically, research and development must coincide with government legislation to protect patents, copyrights and various forms of intellectual property. Essentially, government has an important role to play as a facilitator of economic activity. Ac- cording to Michael Porter, direct government intervention in the economy can re- strict competition and government policies and regulations need to be both prag- matic and interventionist, and flexible when necessary. Michael Porter’s National Diamond on national competitiveness that national pros- perity is created and not inherited, whereby this prosperity accumulates through constant increased productivity. This creates another level where enhanced produc- tivity leads to increased competitiveness. According to Porter, productivity defines national competitiveness. He outlines four elements of national competitiveness: 1. Factor Conditions – referring to the factors of production: skilled labour, land and capital. 2. Demand Conditions – the nature of the home market demand for the services or goods produced by a given industry. 3. Related Industries – interconnected firms, related industries and institutions that evolve in particular areas. 4. Firm Rivalry – the general conditions governing how companies are created, or- ganized and managed, and importantly, the nature of rivalry among them. To Porter, maximum efficiency in these key areas is key to achieving national com- petitiveness. The investment and re-investment in research and development would continue to promote competition and improve technological innovations. The Dynamic Model of International Competitiveness was designed in the context of Caribbean economies and markets. The Model was intended to address the competi- tiveness requirements of small, developing countries such as Trinidad and Tobago. According to Dr. Debbie Mohammed, lecturer at the Institute of International Rela-PDF Image | Confronting the Energy Security Dilemma of the Caribbean
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