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Encyclopedia > Global Competitiveness Report
World map of the 2006-2007 Global Competitiveness Index. Each color represent one quartile of the ranked nations. Green nations score higher, red nations lower. Grey nations are not ranked.

The Global Competitiveness Report is a yearly report published by the World Economic Forum. [1] The first report was released in 1979. The 2006-2007 report covers 125 major and emerging economies. The report "assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity." [2] It has been widely cited and used by many scholarly and peer-reviewed articles. [3] Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1350 × 625 pixel, file size: 33 KB, MIME type: image/png) World map of the 2006-2007 Global Competitiveness Index. ... Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1350 × 625 pixel, file size: 33 KB, MIME type: image/png) World map of the 2006-2007 Global Competitiveness Index. ... In descriptive statistics, a quartile is any of the three values which divide the sorted data set into four equal parts, so that each part represents 1/4th of the sample or population. ... This article or section does not cite any references or sources. ...


Somewhat similar annual reports are the Ease of Doing Business Index and the Indices of Economic Freedom. They also look at at factors that affect economic growth, but not as many as the Global Competitiveness Report. World map of the Ease of Doing Business Index. ... The annual surveys Economic Freedom of the World and Index of Economic Freedom are two indices which attempt to measure the degree of economic freedom, using a definition for this similar to laissez-faire capitalism, in the worlds nations. ...


One part of the report is the Executive Opinion Survey which is a survey of a representative sample of business leaders in their respective countries. Respondent numbers have increased every year and is currently just over 11,000 in 125 countries. [4]


The report ranks the world's nations according to the Global Competitiveness Index. The report states that it is based on the latest theoretical and empirical research. [5] It is made up of over 90 variables, of which two thirds come from the Executive Opinion Survey, and one third comes from publicly available sources such as the United Nations. The variables are organized into nine pillars, with each pillar representing an area considered as an important determinant of competitiveness. In computer science and mathematics, a variable is a symbol denoting a quantity or symbolic representation. ... The foundation of the U.N. The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, social progress and human rights issues. ...


The report notes that as a nation develops, wages tend to increase, and that in order to sustain this higher income, labor productivity must improve in order for the nation to be competitive. In addition, what creates productivity in Sweden is necessarily different from what drives it in Ghana. Thus, the GCI separates countries into three specific stages: factor-driven, efficiency-driven, and innovation-driven, each implying a growing degree of complexity in the operation of the economy. A wage is the amount of money paid for some specified quantity of labour. ...


In the factor-driven stage countries compete based on their factor endowments, primarily unskilled labor and natural resources. Companies compete on the basis of prices and sell basic products or commodities, with their low productivity reflected in low wages. To maintain competitiveness at this stage of development, competitiveness hinges mainly on well-functioning public and private institutions (pillar 1), appropriate infrastructure (pillar 2), a stable macroeconomic framework (pillar 3), and good health and primary education (pillar 4). The word commodity has a different meaning in business than in Marxian political economy. ... An institution is a group, tenet, maxim, or organization created by a group of humans. ... Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ... This article or section does not cite any references or sources. ...


As wages rise with advancing development, countries move into the efficiency-driven stage of development, when they must begin to develop more efficient production processes and increase product quality. At this point, competitiveness becomes increasingly driven by higher education and training (pillar 5), efficient markets (pillar 6), and the ability to harness the benefits of existing technologies (pillar 7).


Finally, as countries move into the innovation-driven stage, they are only able to sustain higher wages and the associated standard of living if their businesses are able to compete with new and unique products. At this stage, companies must compete by producing new and different goods using the most sophisticated production processes (pillar 8) and through innovation (pillar 9). The standard of living refers to the quality and quantity of goods and services available to people and the way these services and goods are distributed within a population. ...


Thus, the impact of each pillar on competitiveness varies across countries, in function of their stages of economic development. Therefore, in the calculation of the GCI, pillars are given different weights depending on the per capita income of the nation. [6] The weights used are the values that best explain growth in recent years [7] For example, the sophistication and innovation factors contribute 10% to the final score in factor and efficiency-driven economies, but 30% in innovation-driven economies. Intermediate values are used for economies in transition between stages. Per capita is a Latin phrase meaning for each head. ...


Variables

1. Institutions
A. Public institutions
1. Property rights
1.01 Property rights
2. Ethics and corruption
1.02 Diversion of publics funds
1.03 Public trust of politicians
3. Undue influence
1.04 Judicial independence
1.05 Favoritism in decisions of government officials
4. Government inefficiency (red tape, bureaucracy and waste)
1.06 Wastefulness of government spending
1.07 Burden of government regulation
5. Security
1.08 Business costs of terrorism
1.09 Reliability of police services
1.10 Business costs of crime and violence
1.11 Organized crime
B. Private institutions
1. Corporate ethics
1.12 Ethical behavior of firms
2. Accountability
1.13 Efficacy of corporate boards
1.14 Protection of minority shareholders’ interests
1.15 Strength of auditing and accounting standards
2. Infrastructure
2.01 Overall infrastructure quality
2.02 Railroad infrastructure development
2.03 Quality of port infrastructure
2.04 Quality of air transport infrastructure
2.05 Quality of electricity supply
2.06 Telephone lines (hard data)
3. Macroeconomy
3.01 Government surplus/deficit (hard data)
3.02 National savings rate (hard data)
3.03 Inflation (hard data)
3.04 Interest rate spread (hard data)
3.05 Government debt (hard data)
3.06 Real effective exchange rate (hard data)
4. Health and primary education
A. Health
4.01 Medium-term business impact of malaria
4.02 Medium-term business impact of tuberculosis
4.03 Medium-term business impact of HIV/AIDS
4.04 Infant mortality (hard data)
4.05 Life expectancy (hard data)
4.06 Tuberculosis prevalence (hard data)
4.07 Malaria prevalence (hard data)
4.08 HIV prevalence (hard data)
B. Primary education
4.09 Primary enrolment (hard data)
5. Higher education and training
A. Quantity of education
5.01 Secondary enrolment ratio (hard data)
5.02 Tertiary enrolment ratio (hard data)
B. Quality of education
5.03 Quality of the educational system
5.04 Quality of math and science education
5.05 Quality of management schools
C. On-the-job training
5.06 Local availability of specialized research and training services
5.07 Extent of staff training
6. Market efficiency
A. Good markets: Distortions, competition, and size
1. Distortions
6.01 Agricultural policy costs
6.02 Efficiency of legal framework
6.03 Extent and effect of taxation
6.04 Number of procedures required to start a business (hard data)
6.05 Time required to start a business (hard data)
2. Competition
6.06 Intensity of local competition
6.07 Effectiveness of antitrust policy
6.08 Imports (hard data)
6.09 Prevalence of trade barriers
6.10 Foreign ownership restrictions
3. Size
0.00 GDP – exports + imports (hard data)
6.11 Exports (hard data)
B. Labor markets: Flexibility and efficiency
1. Flexibility
6.12 Hiring and firing practices
6.13 Flexibility of wage determination
6.14 Cooperation in labor-employer relations
2. Efficiency
6.15 Reliance on professional management
6.16 Pay and productivity
6.17 Brain drain
6.18 Private sector employment of women
C. Financial markets: Sophistication and openness
6.19 Financial market sophistication
6.20 Ease of access to loans
6.21 Venture capital availability
6.22 Soundness of banks
6.23 Local equity market access
7. Technological readiness
7.01 Technological readiness
7.02 Firm-level technology absorption
7.03 Laws relating to ICT
7.04 FDI and technology transfer
7.05 Cellular telephones (hard data)
7.06 Internet users (hard data)
7.07 Personal computers (hard data)
8. Business sophistication
A. Networks and supporting industries
8.01 Local supplier quantity
8.02 Local supplier quality
B. Sophistication of firms’ operations and strategy
8.03 Production process sophistication
8.04 Extent of marketing
8.05 Control of international distribution
8.06 Willingness to delegate authority
8.07 Nature of competitive advantage
8.08 Value-chain presence
9. Innovation
9.01 Quality of scientific research institutions
9.02 Company spending on research and development
9.03 University/industry research collaboration
9.04 Government procurement of advanced technology products
9.05 Availability of scientists and engineers
9.06 Utility patents (hard data)
9.07 Intellectual property protection
9.08 Capacity for innovation [8]

Ranking 2006-2007

# Country
1 Switzerland
2 Finland
3 Sweden
4 Denmark
5 Singapore
6 United States
7 Japan
8 Germany
9 Netherlands
10 United Kingdom
11 Hong Kong SAR
12 Norway
13 Republic of China (Taiwan)
14 Iceland
15 Israel
16 Canada
17 Austria
18 France
19 Australia
20 Belgium
21 Ireland
22 Luxembourg
23 New Zealand
24 Republic of Korea
25 Estonia
26 Malaysia
27 Chile
28 Spain
29 Czech Republic
30 Tunisia
31 Barbados
32 United Arab Emirates
33 Slovenia
34 Portugal
35 Thailand
36 Latvia
37 Slovak Republic
38 Qatar
39 Malta
40 Lithuania
41 Hungary
42 Italy
43 India
44 Kuwait
45 South Africa
46 Cyprus
47 Greece
48 Poland
49 Bahrain
50 Indonesia
51 Croatia
52 Jordan
53 Costa Rica
54 People's Republic of China
55 Mauritius
56 Kazakhstan
57 Panama
58 Mexico
59 Turkey
60 Jamaica
61 El Salvador
62 Russian Federation
63 Egypt
64 Azerbaijan
65 Colombia
66 Brazil
67 Trinidad and Tobago
68 Romania
69 Argentina
70 Morocco
71 Philippines
72 Bulgaria
73 Uruguay
74 Peru
75 Guatemala
76 Algeria
77 Vietnam
78 Ukraine
79 Sri Lanka
80 Macedonia
81 Botswana
82 Armenia
83 Dominican Republic
84 Namibia
85 Georgia
86 Moldova
87 Serbia and Montenegro
88 Venezuela
89 Bosnia and Herzegovina
90 Ecuador
91 Pakistan
92 Mongolia
93 Honduras
94 Kenya
96 Tajikistan
97 Bolivia
98 Albania
99 Bangladesh
100 Suriname
101 Nigeria
102 Gambia
103 Cambodia
104 Tanzania
105 Benin
106 Paraguay
107 Kyrgyz Republic
108 Cameroon
109 Madagascar
110 Nepal
111 Guyana
112 Lesotho
113 Uganda
114 Mauritania
115 Zambia
116 Burkina Faso
117 Malawi
118 Mali
119 Zimbabwe
120 Ethiopia
121 Mozambique
122 Timor-Leste
123 Chad
124 Burundi
125 Angola

Hong Kong (香港; Cantonese IPA: ; Jyutping: hoeng1 gong2; Yale: heūng góng; pinyin: Xiānggǎng; Wade-Giles: Hsiang-kang) is one of the two Special Administrative Regions of the Peoples Republic of China. ... For the Chinese civilization, see China. ... The Democratic Republic of Timor-Leste, commonly known as East Timor, is an island nation in Southeast Asia, consisting of the eastern half of the island of Timor, the nearby islands of Atauro and Jaco, and Oecussi-Ambeno, a political exclave of East Timor situated on the western side of...

External links

  • Global Competitiveness Report

  Results from FactBites:
 
CID at Harvard University :: Global Competitiveness Report 2001-2002 (841 words)
The Global Competitiveness Report 2001-2002 (GCR) is published by the World Economic Forum (WEF) in collaboration with the Center for International Development (CID) at Harvard University and the Institute for Strategy and Competitiveness, Harvard Business School.
Professor Jeffrey Sachs of CID serves as Co-Director of the Report, alongside Professor Michael Porter, Director of the Institute for Strategy and Competitiveness, and Professor Klaus Schwab, President of the WEF.
This chapter on growth competitiveness contains two distinct sections: the first is an outline of current knowledge concerning economic growth and the results for this year's Growth Competitiveness Index (GCI); while the second, proceeds in greater detail and describes the new GCI methodology and logic used in the construction of this year's index.
TCI - Global Competitiveness Report (391 words)
The Global Competitiveness Report (GCR) is an annual publication of The World Economic Forum (WEF) that enhances global understanding of the factors influencing private-sector led economic growth and explains why some countries are much more successful than others at creating new employment opportunities and raising the income level of their respective populations.
For participating countries, the GCR reports on performance and policy conditions affecting the ability of private sector firms to be globally competitive – able to create and add value within the global marketplace.
According to the Global Competitiveness Report 2004-2005, Finland remains the most competitive economy in the world and tops the rankings for the second consecutive year.
  More results at FactBites »

 
 

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