This time, only GDP and RULC are significant; none of the two variables used for the quality of institutions are determinants for FDI.
Labour market RULC Real unit labour cost (euro), expressed as annual growth LAB Nominal compensation per employee, euro ITR Implicit tax rate on labour, % PR Labour productivity, euro per hour worked SCH The percentage of persons who completed the secondary stage of education, % RS Unemployment rate, % III.
First, convergence in RULC growth rates is apparent for all industries in the period prior to 1995, with the exception of Finance.
Figure 2 presents trends in the coefficients of variations of RULC for provincial comparisons from 1978 to 2009.
RULC, RNLC and RLP by industry and region (1978-95 and 1995-2009) RULC RNLC Region 1978-95 1995-2009 1978-95 1995-2009 Agriculture Coastal 0.
We consider regions' competitiveness based on RULCs to identify which regions rely most heavily on relatively high labour productivity to be cost competitive and which rely more on relatively low nominal labour costs.
Figure 1 shows the RULCs of the Total Economy by region from 1978 to 2009.
For both the Trade (G) and Transportation (I) industries across the four regions, the lowest RULCs (both 0.
The Real Estate (K) industry has the lowest RULCs in the Interior region during two periods (0.