Techniques for Analyzing the Attractiveness of International Commodity Markets Under Conditions of Economic Globalization
Journal: The Journal of International Economic Policy (Vol.1, No. 4)Publication Date: 2006-06-01
Authors : Olha Pryhara;
Page : 57-83
Keywords : Globalization; internationalization; international commodity markets; market selection; market attractiveness; techniques; target market; market environment; market opportunities; market dangers; risks; competitiveness;
Abstract
This article examines existing techniques and proposes its own for analyzing the attractiveness of international commodity markets in light of the globalization of world economic processes. Taking into account the supranational nature of the world economic environment when examining categories in the attractiveness of international commodity markets, the author introduces a multilevel system of indicators: market attractiveness at the mega-level ? global level; market attractiveness at the macro-level national level; market attractiveness at the mezo-level ? level of an individual sector. The attractiveness of international commodity markets is considered to be the degree of conformity between market environment factors and the mega-, macro- and mezo-levels of the economic interests of enterprises concerning the entry into and strategies for their activity on the international commodity markets in the short-, medium- and long-term. The author designs a stage-by-stage technique for strategically analyzing the attractiveness of international commodity markets in order to frame efficient market strategies of enterprises. Relying on the proposed techniques, she rates the integrated indicators of market accessibility and the possibility of realizing the economic interests of enterprises in target markets, bringing the index data into a matrix of ?market accessibility ? opportunity for realizing the economic interests of enterprises.? The analysis of a country’s position in the matrix makes it possible to frame efficient market strategies for enterprises.
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