The Effect of Efficiency of Economic Diplomacy Strategy on Total Factors Productivity

The Effect of Efficiency of Economic Diplomacy Strategy on Total Factors Productivity in Selected Developed and Developing Countries in the Period of 2011-2020Abstract :The limitation of resources has made increasing the productivity of all factors of production become the most important strategy of countries to achieve continuous and stable economic growth . On the other hand, in recent years, economic diplomacy has become an important tool for the implementation of industrial policies, and this can help increase the efficiency and effectiveness of economic activities and increase the productivity of all factors . The aim of this study is to investigate the effect of the efficiency components of economic diplomacy ( facilitating foreign trade, attracting foreign capital and acquiring foreign technology, national brand and attracting foreign tourists) on the productivity of the total factors in two groups of selected developing and developed countries during the period of 2011 - 2020 . It is generalized by the method of moments, and the results showed that the components of facilitating foreign trade, attracting foreign capital and obtaining foreign technology in both groups of selected countries with different estimated coefficients have a positive effect on the productivity of the total factors . It has meaning. However, the influence of national brand components and foreign tourist attraction on the productivity of the total factors in both groups of selected countries, although positive, but lacks statistical significance  .