THE basis of any comparative analysis
The cornerstone of the comparative regional locational analysis is economic performance. Measurement of the performance provides insights into previous economic success of the regions that are being analysed. Are they economically strong and growing regions? What are the growth drivers: population growth, employment growth or productivity gains? In addition to the overall economic perspective, the economic structure can be analysed in detail (for up to 115 BAK individual sectors orclusters). The data are available as time series from 1995 to 2015, and are updated each year. Analysis of the economic performance addresses levels as well as growth. The level shows the prosperity achieved by the regions, while the growth analysis indicates the additional growth available for distribution. Which sectors are the key pillars (major) and which are the sectors of the future (growth/momentum).
Comprehensive set of indicators
The BAKBASEL performance database contains a set of indicators for assessing the performance and the potential of a region: gross output and gross domestic product (nominal in national currency, in euro, in USD, in purchasing power parity and in real terms pursuant to linked price indices), employees and working hours, productivity as well as national labour costs. Indicators are available for over 200 sectors and sector aggregates. The database encompasses annual figures for the period 1995-2015. The database is updated each year.
Comprehensive analyses – growth driver sectors
BAKBASEL performance data facilitate detailed analysis of the output contributions made by individual sectors towards overall regional output as well as their contribution towards economic growth. In addition, key sectors can be analysed and the competitive advantages and long-term potential of regional sectors can be highlighted. Using the detailed sector structure, the relevant sectors and cross-sectional sectors can be precisely tailored.
Comprehensive analyses – competitiveness
Performance data facilitate the analysis of regional competitiveness on the basis of indicators such as labour costs and hourly productivity. In addition, this provides evidence of the general attractiveness of the region: How prosperous is the region? How many highly-productive jobs are there in the region? Is the region growing or shrinking? With the help of the international performance database and regional economic methods (growth breakdowns, shift-share analyses, export base approach etc.), regional growth drivers can be identified and analysed. This means strategy processes and regional monitoring can be conducted on sound foundations.
Indices – consolidation to core communicative elements
Regional economies are characterised by a complex network of relationships. Key parameters and indices make it possible to depict multi-dimensional phenomena in a quantitative manner. BAKBASEL synthesises complex economic concepts, such as e.g. competitiveness, into key parameters and rankings that can be communicated. To position regions on an international comparison, for example, BAKBASEL uses an index family entailing three coordinated indices that comprise centrally and internationally-comparable competitiveness indicators. The three indices record the central elements of performance, attractiveness and structural potential. A competitive region is characterised by a successful track record (performance), by its appeal to highly-qualified human capital and companies (attractiveness), and by its sustainable economic structure (structural potential). Further key parameters used by BAKBASEL are: BAK Taxation Index, BAK Accessibility Index, BAK Quality of Life Index, OPENCities Index, Decentralisation Index.