Synopsis: Entrepreneurship:

and Member of the Managing Board Jennifer Blanke Chief Economist THE GLOBAL COMPETITIVENESS AND BENCHMARKING NETWORK Margareta Drzeniek Hanouz,

Head of the Global Competitiveness and Benchmarking Network and Lead Economist Beñat Bilbao-Osorio, Associate Director, Senior Economist Ciara Browne, Director Roberto Crotti, Quantitative Economist

Attilio Di Battista, Junior Quantitative Economist Gaëlle Dreyer, Research Associate Caroline Galvan, Senior Manager, Economist Thierry Geiger, Associate Director, Senior Economist Tania Gutknecht, Community Manager Cecilia Serin, Senior

Associate We thank Hope Steele for her superb editing work and Neil Weinberg for his excellent graphic design and layout.

Data Presentation 97 2. 1 Country/Economy Profiles 99 How to Read the Country/Economy Profiles...

101 Index of Countries/Economies...103 Country/Economy Profiles...104 2. 2 Data Tables 393 How to Read the Data Tables...

395 Index of Data Tables...397 Data Tables...399 Technical Notes and Sources 537 About the Authors 547 Contents 2014 World Economic Forum 2014 World Economic Forum The Global Competitiveness Report 2014

Universidad Austral Nicolás Bernabé, Research Analyst Eduardo Fracchia, Director of Academic department of Economics Armenia Economy and Values Research center Manuk Hergnyan, Chairman Sevak Hovhannisyan

, Board member and Senior Associate Tamara Karapetyan, Research Associate Australia Australian Industry Group Gareth Shaw, Research Coordinator Julie Toth, Chief Economist Innes

Professor, Competence Centre Entrepreneurship, Governance and Strategy Bhutan Bhutan Chamber of commerce & Industry (BCCI) Phub Tshering, Secretary general Kesang Wangdi, Deputy Secretary general Druk Holding

& Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo, University of Sarajevo Zlatko Lagumdzija, Professor Zeljko Sain, Executive director Jasmina

and Research Services Department Brazil Fundação Dom Cabral, Innovation Center Carlos Arruda, Associate dean for Business Partnership, Professor of Innovation and Competitiveness Herica Righi

, Assistant professor Pamela Saavedra, Assistant China Institute of Economic system and Management, National Development and Reform Commission Chen Wei, Research Fellow Dong Ying, Professor Zhou

Haichun, Deputy Director and Professor China Center for Economic Statistics Research, Tianjin University of Finance and Economics Bojuan Zhao, Professor Lu Dong, Professor Jian

Wang, Associate professor Hongye Xiao, Professor Huazhang Zheng, Associate professor Colombia National Planning Department Rodrigo Moreira, Director of Enterprise Development Sara Patricia Rivera

Côte d'ivoire Anzoumane Diabakate, Head of Communications Jean Rock Kouadio-Kirine, Head of Regional Economic Information Marie-Gabrielle Varlet-Boka, Director General Croatia

Papageorgiou, Head of Socioeconomic and Academic Research Czech republic CMC Graduate school of Business Tomá Janca, Executive director Czech Management Association Ivo Gajdo, Executive director University of Economics

Sara Wong, Professor Egypt The Egyptian Center for Economic Studies (ECES) Iman Al-Ayouty, Senior Economist Tarek El-Ghamrawy, Economist Omneia Helmy

General manager Tegenge Teka, Senior Expert Finland ETLA The Research Institute of the Finnish Economy Markku Kotilainen, Research director Petri Rouvinen, Research director Vesa Vihriälä, Managing director

Economics Michael Frenkel, Professor, Chair of Macroeconomics and International Economics Ghana Association of Ghana Industries (AGI) Patricia Addy, Projects Officer James Asare-Adjei

, President Seth Twum-Akwaboah, Executive director Greece SEV Hellenic Federation of Enterprises Michael Mitsopoulos, Senior Advisor, Infrastructures and Business Environment Thanasis Printsipas, Economist

, Entrepreneurship Guatemala FUNDESA Felipe Bosch G.,President of the Board of directors Pablo Schneider, Economic Director Juan carlos Zapata

Pharel, Chief executive officer and Chairman Hong kong SAR Hong kong General Chamber of commerce David O'Rear, Chief Economist Federation of Hong kong Industries Alexandra Poon, Director Hungary

Director, Economic Research Marut Sen Gupta, Deputy Director General Indonesia Center for Industry, SME & Business Competition Studies, University of Trisakti Tulus Tambunan

Principal Associate Eleanor Doyle, Director Catherine Kavanagh, Principal Associate Forfás, Economic Analysis and Competitiveness Department Adrian Devitt, Manager Conor Hand, Economist

), The University of the West indies Patricia Douce, Project Administrator William Lawrence, Director, Professional Services Unit Densil Williams, Executive director and Professor Japan Keio University Yoko Ishikura

viii The Global Competitiveness Report 2014 2015 Partner Institutes Kyrgyz Republic Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao

PDR Enterprise & Development Consultants Co.,Ltd Latvia Stockholm School of economics in Riga Arnis Sauka, Head of the Centre for Sustainable Development Lebanon Bader Young Entrepreneurs

Economy and Special Surveys Statistics Division Vilija Lapeniene, Director General Gediminas Samuolis, Head, Knowledge Economy and Special Surveys Statistics Division Luxembourg Luxembourg

Chamber of commerce Annabelle Dullin, Research Analyst Carlo Thelen, Chief Economist, Director General Lynn Zoenen, Research Analyst Macedonia, FYR National Entrepreneurship and Competitiveness

Technical and Marketing Director and Analyst Habib Sy, Director Général Mauritius Board of Investment, Mauritius Manaesha Fowdar, Investment Executive, Competitiveness Khoudijah Maudarbocus-Boodoo

, Director Ken Poonoosamy, Managing director Joint Economic Council Raj Makoond, Director Mexico Center for Intellectual Capital and Competitiveness Erika Ruiz Manzur, Executive director René

. Pardinas, General Director María Zimbrón Alva, Communication Coordinator Ministry of the Economy Adolfo Cimadevilla Cervera, Technical Secretary for Competitiveness Sergio Merino González, Deputy

, Director Mongolia Open Society Forum (OSF), Mongolia Oyunbadam Davaakhuu, Manager of Economic policy Erdenejargal Perenlei, Executive director Montenegro Institute for Strategic Studies and Prognoses (ISSP

Al-Ismaily, Chairman Public Authority for Investment Promotion and Export Development (ITHRAA) Azzan Qassim Al-Busaidi, Director General, Research & E-Services Pakistan

Administrative Staff Fatou Gueye, Teacher Gisèle Tendeng, Accountant Serbia Foundation for the Advancement of Economics (FREN) Aleksandar Radivojevic, Project Coordinator Svetozar Tanaskovic, Researcher

Jelena Zarkovic Rakic, Director Seychelles Plutus Auditing & Accounting Services Nicolas Boulle, Partner Marco L. Francis, Partner Singapore Economic Development Board Anna

, General manager Thero Setiloane, Chief executive officer Business Unity South africa Nomaxabiso Majokweni, Chief executive officer Kgatlaki Ngoasheng, Executive director, Economic policy Spain IESE Business school, International Center for Competitiveness

Economic policy Officer Kenneth Woei-A-Tsoi, Executive director Swaziland Federation of Swaziland Employers and Chamber of commerce Mduduzi Lokotfwako, Coordinator, Trade & Commerce Nyakwesi Motsa, Administration & Finance

Manager Sweden International University of Entrepreneurship and Technology Association (IUET) Thomas Andersson, President Switzerland University of St gallen, Executive School of management, Technology and Law (ES-HSG

) Rubén Rodriguez Startz, Head of Project Tobias Trütsch, Communications Manager Taiwan, China National Development Council Chien-Liang Chen, Deputy Minister Chung

and Economic Research Dmytro Boyarchuk, Executive director Vladimir Dubrovskiy, Leading Economist United arab emirates Department of Economic Development Abu dhabi, Competitiveness Office of Abu dhabi (COAD) Mohammed Omar

LSE Enterprise Ltd Adam Austerfield, Project Director Elitsa Garnizova, Project Officer & Researcher Robyn Klingler-Vidra, Senior Researcher Uruguay Universidad ORT

Uruguay Bruno Gili, Professor Isidoro Hodara, Professor Venezuela CONAPRI The Venezuelan Council for Investment Promotion Litsay Guerrero, Economic Affairs and Investor Services Manager

when the global economy seems to be finally leaving behind the worst and longest-lasting financial and economic crisis of the last 80 years.

However, this resurgence is moving at a less decisive pace than it has after previous downturns

and the United kingdom. As the economy improves in these countries, a normalization of monetary policy with tightening financial conditions could have an impact on both advanced and emerging economies.

Moreover, the strained geopolitical scenarios with rising tensions in a number of regions can also have negative consequences for the global economic outlook.

in order to ensure robust economic growth that supports more-inclusive economies. Economic and social agendas must go hand in hand

and focus on reforms that will render economies more productive and open up new and better job opportunities for all segments of the population.

Better assigning available resources to productive activities is crucial and requires well-functioning markets. In addition, as indicated in previous editions of this Report

and a high capacity to innovate hold the key for the success of any economy. These elements will continue to be even more essential in the future.

and their mechanisms and interrelations that determine economic growth and the level of present and future prosperity in a country.

since its inception the Report has aimed to build a shared understanding of the main strengths and weaknesses of each of the economies covered,

so that stakeholders can work together on shaping economic agendas that can address challenges and create enhanced opportunities.

In this context policymakers, businesses, and citizens increasingly recognize the need for economic growth to be balanced by providing opportunities

and benefits for all segments of the population and by being respectful of the environment.

In sum, the social and environmental dimensions of an economy need to be considered fully in any growth or development agenda.

Although the relationship between productivity, social development, and environmental stewardship is complex, the Forum has continued its research into how sustainability relates to competitiveness and economic performance.

This year's Report provides an overview of the competitiveness performance of 144 economies, and thus continues to be the most comprehensive assessment of its kind globally.

It contains a detailed profile for each of the economies included in the study, as well as an extensive section of data tables with global rankings covering over 100 indicators.

namely Jennifer Blanke, Chief Economist; and Margareta Drzeniek Hanouz, Head of The Global Competitiveness and Benchmarking Network,

when the world seems to be finally emerging from the worst financial and economic crisis of the past 80 years and returning to a pre-crisis situation:

Overall, growth prospects in advanced economies are better than they have been in recent years, albeit very unevenly distributed.

Japan's economy, while still needing to translate Abenomics into stronger private demand, seems to be waking up after two decades of stagnation.

In Europe the picture is mixed more, with many countries now recording stronger growth and returning to trend growth rates,

while some others continue to suffer from weak growth driven by protracted internal demand, high unemployment,

Emerging economies are forecasted to grow more modestly than they did in the past. After several years of doing very well and leading global growth,

their performance may be affected by a changing environment characterized by greater difficulty accessing capital as well as lower prices for the commodities that fueled past growth a trend that is also likely to affect many developing economies.

and Central banks in countries such as the United kingdom and Japan to substantially expand the amount of money available in the economy.

a normalization of the monetary policy with a tightening of the financial conditions for both advanced and, most notably, emerging economies could jeopardize the rather positive forecast,

especially if productivity-enhancing investment levels do not manage to pick up. Investment and the recovery more broadly will also be influenced by the fact that low inflation,

or even deflation, in key advanced economies remains a tangible risk that could derail recovery

because real interest rates may rise, increasing the burden of public debt and leading to a stagnation of consumption and investment rates.

In addition, in recent months a strained geopolitical situation has emerged. Tensions in Ukraine with implications for the relationship between Russia and much of the Western world,

Finally, one of the legacies of the economic crisis is the acceleration of income inequality in many 2014 World Economic Forum 1. 1:

but on boosting the level of productivity of economies. In order to achieve higher levels of productivity

new actions in terms of engaging in much-needed structural reform and productivity-enhancing investments are required. These measures are not only important,

and accelerate the recovery to create new opportunities and new jobs for larger segments of the population.

and stimulate discussion among all stakeholders about the best strategies and policies to help countries to overcome the obstacles to improving competitiveness.

The final objective of the Forum's work in this area is to inform a series of structured multi-stakeholder dialogues that can raise awareness

offer enhanced opportunities, and raise prosperity. THE 12 PILLARS OF COMPETITIVENESS We define competitiveness as the set of institutions, policies,

The level of productivity, in turn, sets the level of prosperity that can be reached by an economy.

The productivity level also determines the rates of return obtained by investments in an economy,

In other words, a more competitive economy is one that is likely to grow faster over time. The concept of competitiveness thus involves static and dynamic components.

it is also one of the central determinants of its return on investment, which is one of the key factors explaining an economy's growth potential.

Many determinants drive productivity and competitiveness. Understanding the factors behind this process has occupied the minds of economists for hundreds of years,

engendering theories ranging from Adam smith's focus on specialization and the division of labor to neoclassical economists'emphasis on investment in physical capital and infrastructure, 2 and, more recently, to interest in other mechanisms such as education and training, technological

progress, macroeconomic stability, good governance, firm sophistication, and market efficiency, among others. While all of these factors are likely to be important for competitiveness and growth,

In addition, Appendix A assesses statistically the robustness of the GCI as an appropriate estimate of the level of productivity and competitiveness of an economy.

Institutions The institutional environment is determined by the legal and administrative framework within which individuals, firms,

The importance of a sound and fair institutional environment has become all the more apparent during the recent economic

given the increasing role played by the state at the international level and for the economies of many countries.

and growth. 4 It influences investment decisions and the organization of production and plays a key role in the ways in which societies distribute the 2014 World Economic Forum The Global Competitiveness Report 2014 2015 5 1. 1:

The Global Competitiveness Index 2014 2015 by the Global Agenda Council on Competitiveness More than ever, cities are the lifeblood of the global economy.

its ability to use available inputs efficiently to drive sustainable economic growth and prosperity. Never before has urbanized the world at the speed

which involves stable and prudent fiscal policies, including efficient and simple taxation; a flexible labor market; openness to trade and foreign investment;

simple and transparent business regulation is the primary lesson for good public policy, at both national and municipal levels.

Cities should develop their own foreign economic policies on trade, foreign investment, tourism, and attracting foreign talent,

think soft connectivity the city's social capital. Education is the ultimate soft connectivity. US cities such as Boston, Pittsburgh,

Cities should grasp this opportunity, experiment with new rules, and put reforms on a fast track.

Notes 1 The World Economic Forum's Global Agenda Council on Competitiveness seeks to raise awareness of the importance of competitiveness for economic growth

and to identify ways countries can systematically transform their economies. It monitors key trends, identifies global risks, charts relationships,

Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance and Financial services, Canada (Vice Chair; Deborah L. Wince-Smith, President, Council on Competitiveness, USA (Vice Chair;

Mohamed El Dahshan, Regional Economist, African Development Bank; Janamitra Devan, Independent Adviser, Strategy and Leadership, USA;

excessive bureaucracy and red tape, 6 overregulation, corruption, dishonesty in dealing with public contracts, lack of transparency and trustworthiness, inability to provide appropriate services for the business sector,

In addition, the proper management of public finances is critical for ensuring trust in the national business environment.

An economy is served well by businesses that are run honestly, where managers abide by strong ethical practices in their dealings with the government, other firms,

Infrastructure Extensive and efficient infrastructure is critical for ensuring the effective functioning of the economy,

as it is an important factor in determining the location of economic activity and the kinds of activities or sectors that can develop within a country.

In addition, the quality and extensiveness of infrastructure networks significantly impact economic growth and reduce income inequalities

and poverty in a variety of ways. 9 A well-developed transport and communications infrastructure network is a prerequisite for the access of less-developed communities to core economic activities and services.

and services to market in a secure and timely manner and facilitate the movement of workers to the most suitable jobs.

Economies also depend on electricity supplies that are free from interruptions and shortages so that businesses and factories can work unimpeded.

Macroeconomic environment The stability of the macroeconomic environment is important for business and, therefore, is significant for the overall competitiveness of a country. 10

it is recognized also that macroeconomic disarray harms the economy, as we have seen in recent years, conspicuously in the European context.

The government cannot provide services efficiently if it has to make high-interest payments on its past debts.

when inflation rates are out of hand. In sum the economy cannot grow in a sustainable manner unless the macro environment is stable.

Macroeconomic stability captured the attention of the public most recently when some advanced economies, notably the United states and some European countries,

needed to take urgent action to prevent macroeconomic instability when their public debt reached unsustainable levels in the wake of the global financial crisis.

It is important to note that this pillar evaluates the stability of the macroeconomic environment,

so it does not directly take into account the way in which public accounts are managed by the government.

Investment in the provision of health services is thus critical for clear economic, as well as moral, considerations. 11 In addition to health, this pillar takes into account the quantity

The Global Competitiveness Index 2014 2015 economy. Basic education increases the efficiency of each individual worker.

Higher education and training Quality higher education and training is crucial for economies that want to move up the value chain beyond simple production processes and products. 12 In particular,

today's globalizing economy requires countries to nurture pools of well-educated workers who are able to perform complex tasks

and adapt rapidly to their changing environment and the evolving needs of the production system.

which is neglected in many economies for ensuring a constant upgrading of workers'skills. Sixth pillar:

and services given their particular supply-and-demand conditions, as well as to ensure that these goods can be traded most effectively in the economy.

Healthy market competition, both domestic and foreign, is important in driving market efficiency, and thus business productivity, by ensuring that the most efficient firms,

producing goods demanded by the market, are those that thrive. The best possible environment for the exchange of goods requires a minimum of government intervention that impedes business activity.

For example competitiveness is hindered by distortionary or burdensome taxes and by restrictive and discriminatory rules on foreign direct investment (FDI)

which limit foreign ownership as well as on international trade. The recent economic crisis has highlighted the high degree of interdependence of economies worldwide and the degree to

which growth depends on open markets. Protectionist measures are counterproductive as they reduce aggregate economic activity. Market efficiency also depends on demand conditions such as customer orientation and buyer sophistication.

For cultural or historical reasons, customers may be more demanding in some countries than in others.

This can create an important competitive advantage as it forces companies to be more innovative

and customer-oriented and thus imposes the discipline necessary for efficiency to be achieved in the market.

Labor market efficiency The efficiency and flexibility of the labor market are critical for ensuring that workers are allocated to their most effective use in the economy

Labor markets must therefore have the flexibility to shift workers from one economic activity to another rapidly and at low cost,

and they must provide equity in the business environment between women and men. Taken together these factors have a positive effect on worker performance and the attractiveness of the country for talent,

Financial market development The financial and economic crisis has highlighted the central role of a sound and well-functioning financial sector for economic activities.

as well as those entering the economy from abroad, to their most productive uses. It channels resources to those entrepreneurial or investment projects with the highest expected rates of return rather than to the politically connected.

A thorough and proper assessment of risk is therefore a key ingredient of a sound financial market.

Business investment is also critical to productivity. Therefore economies require sophisticated financial markets that can make capital available for private-sector investment from such sources as loans from a sound banking sector

well-regulated securities exchanges, venture capital, and other financial products. In order to fulfill all those functions, the banking sector needs to be trustworthy and transparent,

and as has been made so clear recently financial markets need appropriate regulation to protect investors and other actors in the economy at large.

Ninth pillar: Technological readiness In today's globalized world, technology is increasingly essential for firms to compete and prosper.

which an economy adopts existing technologies to 2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014 2015 8 The Global Competitiveness Report 2014 2015 enhance the productivity of its industries,

with specific emphasis on its capacity to fully leverage information and communication technologies (ICTS) in daily activities and production processes for increased efficiency

especially for countries with small domestic markets. 16 Thus exports can be thought of as a substitute for domestic demand in determining the size of the market for the firms of a country. 17 By including both domestic and foreign markets in our measure of market size,

we give credit to export-driven economies and geographic areas (such as the European union) that are divided into many countries

Business sophistication There is no doubt that sophisticated business practices are conducive to higher efficiency in the production of goods and services.

greater opportunities for innovation in processes and products are created, and barriers to entry for new firms are reduced.

and the production of unique and sophisticated products) spill over into the economy and lead to sophisticated and modern business processes across the country's business sectors.

or improving human capital, all these factors eventually run into diminishing returns. The same is true for the efficiency of the labor, financial,

Technological breakthroughs have been at the basis of many of the productivity gains that our economies have experienced historically.

but also opening a wider range of new possibilities in terms of products and services. Innovation is particularly important for economies as they approach the frontiers of knowledge,

and the possibility of generating more value by merely integrating and adapting exogenous technologies tends to disappear. 18

This progression requires an environment that is conducive to innovative activity and supported by both the public and the private 2014 World Economic Forum The Global Competitiveness Report 2014 2015 9 1. 1:

In particular, it means sufficient investment in research and development (R&d), especially by the private sector; the presence of high-quality scientific research institutions that can generate the basic knowledge needed to build the new technologies;

in addition to high levels of competition and access to venture capital and financing that are analyzed in other pillars of the Index.

In light of the recent sluggish recovery and rising fiscal pressures faced by advanced economies,

STAGES OF DEVELOPMENT AND THE WEIGHTED INDEX While all of the pillars described above will matter to a certain extent for all economies,

it is clear that they will affect different economies in different ways: the best way for Cambodia to improve its competitiveness is not the same as the best way for France to do so.

In line with well-known economic theory of stages of development, the GCI assumes that, in the first stage,

the economy is driven factor and countries compete based on their factor endowments primarily Pillar 5. Higher education and training Pillar 6. Goods market efficiency Pillar 7. Labor market efficiency Pillar 8. Financial

Innovation Pillar 1. Institutions Pillar 2. Infrastructure Pillar 3. Macroeconomic environment Pillar 4. Health and primary education Figure 1:

The Global Competitiveness Index framework Key for factor-driven economies Key for efficiency-driven economies Key for innovation-driven economies Pillar 1. Institutions Pillar

2. Infrastructure Pillar 3. Macroeconomic environment Pillar 4. Health and primary education Pillar 11. Business sophistication Pillar 12.

and sell basic products or commodities, with their low productivity reflected in low wages. Maintaining competitiveness at this stage of development hinges primarily on well-functioning public and private institutions (pillar 1), a well-developed infrastructure (pillar 2), a stable macroeconomic environment (pillar 3),

and a healthy workforce that has received at least a basic education (pillar 4). As a country becomes more competitive,

The GCI takes the stages of development into account by attributing higher relative weights to those pillars that are more relevant for an economy given its particular stage of development.

This is measured by the share of exports of mineral goods in total exports (goods and services),

for some resource-based economies that have reached very high levels of income, the capacity to increase the productivity of any other sector beyond mineral production will be based on the country's capacity to boost innovation,

and significantly wealthier than economies at the technological frontier are classified in the innovation-driven stage. 22 Any countries falling between two of the three stages are considered to be in transition.

See individual country/economy profiles for the exact applied weights.**For economies with a high dependency on mineral resources, GDP per capita is not the sole criterion for the determination of the stage of development.

See text for details. 2014 World Economic Forum The Global Competitiveness Report 2014 2015 11 1. 1:

which internationally comparable statistical data are not available for the entire set of economies. The Survey process and the statistical treatment of data are described in detail in Chapter 1. 3 of this Report.

COUNTRY COVERAGE This year the Report covers 144 economies. In this edition because of data availability issues, we could not include Benin, Bosnia and herzegovina, Brunei Darussalam, Ecuador, or Liberia.

Countries/economies at each stage of development Stage 1: Factor-driven (37 economies) Transition from stage 1 to stage 2 (16 economies) Stage 2:

Efficiency-driven (30 economies) Transition from stage 2 to stage 3 (24 economies) Stage 3:

Innovation-driven (37 economies) Bangladesh Algeria Albania Argentina Australia Burkina faso Angola Armenia Bahrain Austria Burundi Azerbaijan Bulgaria Barbados Belgium Cambodia

Bhutan Cape verde Brazil Canada Cameroon Bolivia China Chile Cyprus Chad Botswana Colombia Costa rica Czech republic Côte d'ivoire Gabon Dominican republic Croatia Denmark Ethiopia

the Forum aims to remain at the forefront of the effort to provide policymakers and business and civil society leaders with a relevant tool that can measure and benchmark the drivers of competitiveness and prosperity in an economy,

and that can stimulate a constructive dialogue to catalyze the needed reforms and productive investments.

as well as for a number of selected economies in each of the five following regions: Europe and Eurasia;

and Sub-saharan africa. 23 Top 10 The top of the rankings continues to be advanced dominated by highly Western economies and several Asian tigers.

and again this year Singapore ranks as the second-most competitive economy in the world.

Productivity is enhanced further by an excellent education system and a business sector that offers excellent on-the-job-training opportunities.

Finally, Switzerland's macroeconomic environment is among the most stable in the world (12th) at a time

Again this year, Singapore is the only economy to feature in the top 3 in seven out of the 12 pillars;

Its economy can also rely on a sound macroeconomic environment and fiscal management (15th) its budget surplus amounted to 6. 9 percent of GDP in 2013.

The Global Competitiveness Index 2014 2015 GCI 2014 2015 Country/Economy Rank (out of 144) Score (1 7) Rank among 2013 2014 economies

The Global Competitiveness Index 2014 2015 rankings and 2013 2014 comparisons GCI 2014 2015 Country/Economy Rank (out of 144) Score (1 7

) Rank among 2013 2014 economies*GCI 2013 2014 rank (out of 148) Sri lanka 73 4. 197365 Botswana 74 4. 157474 Slovak Republic

144 2. 79143147*This column ranks all those economies for 2014 2015 that have been covered both in the 2013 2014 and 2014 2015 editions

hence a constant sample of 143 economies. Tajikistan was included not in the analysis last year,

and therefore appears as n/a. The 2013 2014 edition of the Global Competitiveness Report covered 148 economies. 2014 World Economic Forum 1. 1:

factors Country/Economy Rank Score Rank Score Rank Score Rank Score Switzerland 1 5. 70 4 6. 17 5 5

The Global Competitiveness Index 2014 2015 (cont'd.)SUBINDEX OVERALL INDEX Basic requirements Efficiency enhancers Innovation and sophistication factors Country/Economy Rank

Ranks out of 144 economies and scores measured on a 1-to-7 scale. 2014 World Economic Forum 1. 1:

Health and primary education Country/Economy Rank Scorerankscorerankscorerankscorerankscore Albania 97 4. 141033.38 90 3. 521223.82 62 5. 85 Algeria 65 4. 641013.411063.12

Health and primary education Country/Economy Rank Scorerankscorerankscorerankscorerankscore Libya 111 3. 861422.621132.88 41 5. 361194.55 Lithuania 37 5. 08 58 4. 01

Ranks out of 144 economies and scores measured on a 1-to-7 scale. 2014 World Economic Forum 1. 1:

Market size Country/Economy Rank Scorerankscorerankscorerankscorerankscorerankscorerankscore Albania 95 3. 72604.53934.15934.021143.39913.301052.94 Algeria 125 3. 34983.691363.481393.151372.721292.59474.39 Angola 140 2. 841441.941432.921283.521402.501402.34653.84 Argentina 93

Market size Country/Economy Rank Scorerankscorerankscorerankscorerankscorerankscorerankscore Libya 137 3. 031023.591393.321333.411441.951302.56853.33 Lithuania 38 4. 54265.30474.57534.33654.09285.37773.60 Luxembourg 22 4. 97434.8855.48164.87145.1016.36963.13 Macedonia, FYR

Ranks out of 144 economies and scores measured on a 1-to-7 scale. 2014 World Economic Forum 1. 1:

Innovation Country/Economy Rank Scorerankscorerankscore Albania 114 3. 171043.611202.73 Algeria 133 2. 911313.221282.60 Angola 144 2. 361442.611422.12 Argentina 96 3

Innovation Country/Economy Rank Scorerankscorerankscore Libya 143 2. 491353.011441.98 Lithuania 44 3. 97494.31443.62 Luxembourg 18 4. 93215.00164.85 Macedonia, FYR 76

Ranks out of 144 economies and scores measured on a 1-to-7 scale. 2014 World Economic Forum The Global Competitiveness Report 2014 2015 21 1. 1:

the United states can build on the many structural features that make its economy extremely productive. US companies are sophisticated highly and innovative,

and the scale opportunities afforded by the sheer size of its domestic economy the largest in the world by far these qualities make the United states very competitive.

The macroeconomic environment remains the country's greatest area of weakness (113th), although the fiscal deficit continues to narrow

which has led some rating agencies to downgrade the outlook of this Nordic economy. More precisely, Finland suffers from higher,

Very high public and private investments in R&d (3rd), with very strong linkages between universities and industry (1st) coupled with an excellent education

and infrastructure and is balanced only partially out by improvements in the country's macroeconomic environment and financial development.

Overall, Germany weathered the global economic crisis of recent years quite well thanks at least partly to its main competitiveness strengths,

This fosters the exchange of learning among businesses and facilitates the development of new goods and services.

Germany's economy could be more competitive if its labor markets were made even more efficient. In recent years, labor market efficiency has improved markedly, rising from the 53rd position in 2012 to 35th this year.

Japan posts the largest improvement of the top 10 economies, thanks to small improvements across the board.

The Global Competitiveness Index 2014 2015 22 The Global Competitiveness Report 2014 2015 high-value-added goods and services.

At least the country's battle against deflation has started bearing fruit: prices in 2013 increased for the first time in five years by a low 0. 4 percent.

The economy also continues to dominate the financial market development pillar, owing to the high level of efficiency, trustworthiness,

Hong kong is also one of the most open economies in the world. In order to enhance its competitiveness,

In building a truly innovation-driven economy, Hong kong can rely on its high degree of technological readiness (5th).

Overall, the country continues to depict a set of important competitiveness strengths that allow its economy to remain highly productive.

allowing the country to maintain its triple-A rating throughout the recent financial and economic crisis.

and seems to deliver the right set of skills for an innovation-based economy; ICT adoption (3rd) is among the highest in the world;

which produce the right set of incentives to quickly transform those knowledge assets into new products and services with higher value-added.

Europe and Eurasia Six European countries are ranked among the top 10 most competitive economies while at the same time, many countries in Southern and Central and 2014 World Economic Forum The Global Competitiveness Report 2014 2015 23 1. 1:

This new divide appears to be between those economies that are adopting and implementing the reforms necessary to become more competitive these include countries such as Greece

and Portugal that are now improving in the overall rankings and some other economies, such as France and Italy,

which has provided the Danish workforce with the skills needed to adapt rapidly to a changing environment

Furthermore, in addition to boasting an outstanding education and training system (5th) with excellent math and science education (3rd), topnotch management schools (2nd),

and a strong propensity for on-the-job training (4th) the country benefits from a high level of technological adoption (15th) and highly sophisticated (10th) and innovative (13th) businesses that carry out their activities in a market characterized by high competition (6th)

and an environment that facilitates new business creation. Notwithstanding these strengths, some concerns remain about the efficiency of Belgium's government (64th;

a solid macroeconomic environment (20th; and high levels of education and training (20th. Its labor market is also more efficient than in most countries in the 2014 World Economic Forum 1. 1:

Further investment in infrastructure (38th) would also be warranted, as transport infrastructure in particular is not yet up to Western European standards (58th).

cutting red tape to foster entrepreneurship (99th; and enhancing flexibility (120th) in the labor market, although much remains to be addressed.

and an insufficient capacity to innovate (60th) the result of low R&d investments (52nd) and weak university-industry collaborations (57th).

The country's economic recovery is reflected also in a sounder macroeconomic environment the budget deficit fell below the 3 percent mark, leading to a closing of the European commission's excessive government procedure and an improvement in borrowing conditions in the financial

Going forward, the Czech republic needs to explore ways to transition to a knowledge economy in view of its stage of development:

compared with other economies at the same stage, technological readiness remains low (36th) and Czech businesses although doing comparatively well in a regional context are sophisticated less and innovative than other economies in the European union.

The country's competitiveness would be enhanced further by improvements to its higher education system, where the Czech republic, at rank 35, features among the 10 lowest ranked EU economies.

Poland maintains its positioning overall and comes in at 43rd place. The improvements Poland has made in institutions, infrastructure,

and knowledge-driven economy will be necessary for Poland to sustain its growth going forward. The country can build on a fairly well educated population, well-developed financial markets,

Overall, Italian companies most notably small and medium-sized enterprises (SMES) continue to suffer from weak access to financing (139th) that

affects their investment capacity. In addition, as already mentioned, the labor market remains very rigid (136th) and unable to make an efficient use of the country's talent (130th).

The Russian Federation is placed at 53rd position this year with some improvements related to the efficiency of goods markets (in particular domestic competition), ICT use,

the Russian economy continues to face many deeply rooted challenges that will have to be addressed for the country to strengthen its competitiveness.

Diversification of the economy will need reinforcing the very small SME sector as well as continued progress toward a stronger and more stable financial system (110th.

in order to put economic growth on a sustainable footing. These include an overhaul of the institutional framework (130th

A strengthening of financial markets would further help stabilize the economy and enable Ukraine to better take advantage of its numerous competitiveness strengths,

Going forward, Croatia will need to continue strengthening its institutional framework (87th) and foster the efficiency of its market for goods and services.

The Global Competitiveness Index 2014 2015 26 The Global Competitiveness Report 2014 2015 focus on strengthening its macroeconomic environment,

Improvements in the functioning of its goods market (85th) with enhanced levels of competition (71st)

Moreover, in order to support a structural change of the Greek economy so that it can move toward more productive, knowledge-based activities,

That will require improvements in the quality of its education system (111th) as well as higher investments in knowledge-generating activities, such as R&d (114th.

The region is home to three of the 10 most competitive economies in the world:

A further three economies are featured in the top 20: Taiwan (China), New zealand, and Malaysia (20th),

The five largest Southeast Asian economies (ASEAN-5) all feature in the top half of the rankings,

For the most advanced economies, such as Japan the Republic of korea, and Taiwan (China), one common challenge is the rigidity of their labor markets.

For countries such as Malaysia, the goal is to transform the economy to become more knowledge-driven

In China, more reforms and liberalization are needed to improve market efficiency, increase competition, and encourage a more optimal allocation of financial resources.

In most emerging Asian economies, common challenges include addressing the huge infrastructure deficit and improving regional connectivity;

and entrepreneurship and reduce pervasive and deep-rooted corruption; and improving market efficiency by phasing out distortionary measures.

As the region's poorest economies such as India and Myanmar are transitioning away from agriculture and developing a manufacturing base,

The country remains the highest ranked among the developing Asian economies. Malaysia advances nine positions in the institutions pillar,

And it ranks 7th in the efficiency of its goods and services markets and a business-friendly institutional framework (29th.

All this bodes well for a country that aims to become a high-income, knowledge-based economy by the end of the decade.

On a brighter note, Korea possesses a remarkably sound macroeconomic environment (7th, second only to Norway among OECD countries.

The country continues to lead the BRICS economies by a wide margin well ahead of Russia (53rd), South africa (56th), Brazil (57th), and India (71st.

Small gains in most pillars of the GCI contribute to creating a more conducive ecosystem for entrepreneurship and innovation:

along with investment rules, greatly limit competition. China is becoming more innovative (32nd), but it is not yet an innovation powerhouse.

inflation is below 3 percent; budget 2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014 2015 28 The Global Competitiveness Report 2014 2015 deficit has been reduced;

This rate is probably too high in light of the need for China to rebalance its economy away from investment and toward more consumption.

Despite the persistence of bottlenecks, the country also boasts good transport infrastructure and connectivity (21st), thanks to decades of massive investments.

and is losing manufacturing jobs to less-developed countries and even to some more advanced economies.

The country moves up 12 places in the macroeconomic environment pillar and now ranks 19th, its best showing among the 12 pillars.

In 2013, Thailand almost balanced its budget and reduced inflation to 2 percent. Public debt remained stable

However, market competition remains limited by a number of barriers to entry, especially those affecting foreign investments.

The Global Competitiveness Index 2014 2015 reviving the economy, which is growing at half the rate of 2010.

Following an episode of double-digit inflation in 2011, its macroeconomic situation continues to improve (75th, up 12 positions),

as inflation declined to 6. 6 percent. Public institutions also receive a better assessment (85th, up five), on the basis of better property rights protection (104th, up nine), improved efficiency (91st, up 13),

and many people still lack access to basic services and opportunities, such as sanitation, healthcare, and quality schooling.

In 2013, its economy grew by a modest 4. 4 percent (see Figure1. Improving competitiveness in order to put growth on a more stable footing should

Dropping for the sixth consecutive edition, India ranks 71st (down 11) out of 144 economies in the Global Competitiveness Index (GCI) 2014-2015 (see Figure2.

It is ranked the lowest among the BRICS economies. The rank differential with China (28th) has grown from 14 places in 2007 to 43 today;

This competitiveness divide helps to explain the different trajectories of these two economies. India's slide in the competitiveness rankings began in 2009,

when its economy was still growing at 8. 5 percent (it even grew by 10.3 percent in 2010).

But for these types of investments to materialize, the institutional framework needs to improve. There are encouraging signs.

However, the overall business environment and market efficiency (95th down 10 places) are undermined by protectionism, monopolies,

In addition, it calculated that taxes for a typical registered firm amount, on average, to 63 percent of its profits (130th.

These factors contribute to the high cost of integrating more businesses into the formal economy.

The financial resources required for delivering basic services, including sanitation and healthcare, and for improving India's physical and digital connectivity are considerable.

as evidenced by the country's 101st rank in the macroeconomic environment pillar of the GCI.

In addition, over the past several years India has experienced persistently high, in some years near double-digit, inflation,

Thanks to a lower inflation rate and a smaller budget deficit, the country's macroeconomic situation improves slightly but nevertheless remains dismal (137th.

India's rank (out of 144 economies) in the pillar is indicated in parentheses. Figure 3:

India in the 12 pillars of the GCI 2014 2015 Institutions (70) Infrastructure (87) Macroeconomic environment (101) Health and primary education (98) Higher education and training (93) Goods

(49) 1234567 2007 2008 2014 2015 interest rates low to stimulate the faltering economy and tightening monetary policy to stem inflation.

In particular, it will help rebalance the economy and move the country up the value chain

The services sector accounts for just 28 percent of employment but for 56 percent of the economy.

Most services jobs are low-skilled and poorly paid ones though. White collar jobs remain rare.

Overall, the region continues to suffer from strong headwinds related to weak investments, a fall in exports and commodity prices,

and tighter access to finance that, to a large extent, fueled growth in recent years. Building the economic resilience of the region will depend on its capacity to strengthen the fundamentals of its economy by boosting its level of competitiveness.

However, regional productivity continues to be low and trailing other emerging or advanced economies. A lack of sufficient investments in growth-enhancing areas

such as infrastructure, skills development, and innovation, coupled with insufficient and delayed reforms needed to improve business conditions

and the allocation of resources, result in a certain inability of the local economies of the region to move toward more productive sectors and thus, higher levels of competitiveness.

The need to boost competitiveness by undertaking the necessary investments and by fully and efficiently implementing structural reforms has become not only important

but also urgent if the region is to be able to consolidate the economic and social gains that many countries have experienced in past years.

at 33rd, regains the position it lost last year and remains the most competitive economy in Latin america, with a very stable profile.

Notwithstanding these strengths, the current economic context with its potentially strong headwinds that result from the decline in the price of minerals highlights the need for Chile to diversify its economy by moving toward more knowledge-based activities.

Important flaws in the country's education system, notably in terms of its quality (71st) especially in math and science (99th) do not provide companies with a workforce that has the necessary skills to upgrade their production

This difficulty together with low innovation investment, especially in the private sector (77th) results in a poor innovation capacity overall (76th),

which could jeopardize Chile's necessary transition toward a knowledge-based economy. Panama continues to follow Chile in the regional rankings and once again scores as the most competitive economy in Central america;

it is among the top 50 in the world, despite a fall of eight places to 48th position.

and the poor quality of the education system (83rd) with its inability to provide the right set of skills for an economy that increasingly needs a skilled labor force to sustain the sharp economic growth of past years.

or venture capital (101st) to support innovative projects. In addition, concerns about macroeconomic conditions (132nd) persist, as Barbados boasts one of the highest public deficits (140th) in the world, one of the lowest savings rates (136th),

and ease the flow of financing toward productive investments will be crucial to allow the country to recover the ground lost since the beginning of the crisis. On a more positive note,

Barbados continues to benefit from a fairly skilled labor force thanks to a high-quality education system (15th) and high enrollment rates in secondary (19th) and tertiary education (42nd);

and a poor education system (126th) that fails to provide workers with the necessary set of skills for an economy in transition toward more knowledge-based activities.

for Brazil as for other BRICS economies, will require implementing reforms and engaging in productive investments (see Box3).

This approach is not only important but has become urgent for reinforcing Brazil's resilience. The country is poised to face strong headwinds related to recent shifts in the global economy,

with a drop in the international price of commodities and potential outflows of capital that had come into the country from some advanced economies during the height of the financial crisis.

Notwithstanding these challenges, Brazil still benefits from important strengths, especially its large market size and its fairly sophisticated business community (47th), with pockets of innovation excellence (44th) in many research-driven, high-value-added activities.

In spite of the drop of six places Mexico (61st) has adopted important structural reforms in the past year. This fall in the rankings is driven by a deterioration in the perceived functioning of institutions (102nd;

the quality of an education system that does not seem to deliver on the skill set that a changing Mexican economy requires;

In addition, the results show that the benefits of the many adopted reforms intended to increase the level of competition

its relatively stable macroeconomic environment (53rd), its large and deep internal market that allows for important economies of scale (10th), reasonably good transport infrastructure (41st),

Competitiveness and the need for structural reform in large emerging economies In recent decades, many emerging economies benefited from rapid economic growth,

which allowed them to gain a more prominent role in the global economy. 1 Emerging economies drove growth throughout the economic crisis.

In 2009 the worst year of the crisis the combined GDP of advanced economies contracted by 3 percent

while emerging economies grew by 3 percent. Overall, between 2007 and 2013, emerging economies grew by 5. 9 percent annually, five percentage points more than advanced economies.

These radically different trajectories accelerated the shift of economic power from advanced economies toward the emerging world

which in 2012 accounted for more than half of global output for the first time in recent history. High commodity prices and better access to financing thanks to the inflow of capital,

often from advanced economies, go a long way toward explaining these positive developments in recent years. However, since 2010, economic growth has been slowing down in emerging economies,

which grew by 4. 7 percent in 2013, the second lowest rate since 2002, and the International monetary fund has revised recently its forecast for 2014 down to 4. 6 percent. 2 The slowdown can be attributed to several factors.

Overall commodity prices, with the exception of oil prices, have stagnated or started to fall. At the same time, the outflow of capital and the phasing out of accommodating monetary policy in the United states have created further instability

and worsened credit access conditions for emerging economies. In addition, emerging economies for the most part did not use the recent spell of high growth to implement the structural reforms needed to boost productivity and build competitiveness.

The necessary reforms are particularly critical in three areas:(1) boosting competition, especially in strategic sectors of the economy,

by removing bottlenecks and barriers to entry;(2) making the labor markets more flexible and more effective at using all existing talent;

and (3) improving the efficiency of public institutions, which is also crucial to ensure an effective implementation of structural reforms.

The Global Competitiveness Index (GCI) reveals the poor performance among many of the 20 largest emerging economies

which together account for 27 percent of global GDP in terms of the functioning of their institutions, as well as in establishing efficient product

The latter, however, still ranks a low 119th in market competition and 102nd in public institutions. Among the BRICS, China has lost 22 places in terms of market competition since 2010,

and both India and Brazil have lost considerable ground in all three areas. These results highlight how important it will be for emerging economies to promptly and efficiently implement structural reforms.

Those reforms are necessary to increase their competitiveness, build their resilience against future external shocks,

we use the shorter formulation, Emerging Economies, to refer to the group of Developing and Emerging Market economies as defined by the International monetary fund in its publications,

Rankings of the 20 largest emerging economies on selected components of the GCI Public institutions Market competition Labor market efficiency GCI 2014 2015 rank Country 2014

Ranks are out of 144 economies.**Change in ranking between the 2010 2011 and the 2014 2015 editions of the GCI. 2014 World Economic Forum The Global Competitiveness Report 2014 2015 35 1. 1:

and thus diversify its economy toward more productive activities will require raising the quality of education (134th),

which is now not capable of providing the skills needed for a changing economy; to boost technology adoption (92nd),

and inflation that is under control at around 2 percent; financial services that are sophisticated relatively by regional standards (53rd;

Colombia will have to diversify its economy and become less dependent on revenue from mineral resources. In this transformation, the country will need to improve the quality of its education system (90th),

and better public investment but also a decisive recognition on the part of Colombian firms of the need to innovate by undertaking the right set of investments in areas such as R&d (84th) as well as on-the-job training schemes (73rd) and ICT

The country's rise is led by improvements in its level of competition in the goods market (54th) thanks to the reduction of red tape for new businesses and better infrastructure 67th),

One of Argentina's major concerns is to build its economic resilience in a rapidly changing global economic context characterized by lower commodity prices that can drastically affect The argentine economy.

These assets are not being utilized fully amid the negative framework conditions that hamper the potential of The argentine economy.

Venezuela (131st) continues to be immersed in a deep macroeconomic (139th) and institutional (144th) crisis. A very unstable macroeconomic environment with high levels of inflation

Some North African economies, such as Egypt and Tunisia, are slowly stabilizing and are starting to focus on economic reform.

Structural reforms and improvements to business environments will help restore the still-shaken investor confidence in countries in transition in the region.

Other economies, such as Libya and Lebanon, remain affected by conflict or unrest within their own borders or in neighboring countries.

some small, energy-rich economies continue to perform well in the rankings, building on their resource-driven wealth to undertake structural reforms

A strong macroeconomic environment (5th) and some positive aspects of the country's institutions such as strong public trust in politicians (3rd) and high government efficiency (5th) round out the list of competitive advantages.

Going forward, putting the country on a more stable development path will require further investment to boost health and educational outcomes (38th on the health and primary education pillar.

and business innovation will be necessary to diversify the economy and ensure that economic growth is sustainable going into the future.

Qatar falls three places to 16th position. Although the country benefits from high levels of macroeconomic stability and efficient goods and financial markets

in order to achieve a more diversified economy. Improving educational outcomes, especially participation in primary and tertiary education;

Saudi arabia (24th) loses four positions in this year's edition, based on a less positive assessment of its quality of education and level of domestic competition.

The country will need to enhance competitiveness to further diversify its economy and create sufficient number of jobs for the growing workforce.

The country also benefits from the largest market size among the Gulf Cooperation Council (GCC) economies (20th.

Business leaders consider that the quality of education could be improved especially with respect to training in management (78th) and math and science (73rd.

and better education outcomes will increase in importance as the country attempts to diversify its economy,

especially as this is an area where Saudi arabia continues to trail other GCC economies. Israel retains the 27th position in this year's GCI.

and a favorable financial environment for start-ups (availability of venture capital is assessed at 9th place). Yet for the country's innovation-driven competitiveness strategy to be successful and viable going into the future,

If not addressed, poor educational outcomes particularly in math and science (79th) and in primary schools (86th) could undermine the country's innovative capacity over the longer term.

Room for improvement also remains with respect to the macroeconomic environment (50th), although improvements have taken place between 2012 and 2013 as the fiscal deficit

which could potentially affect the country's economy, although this has not been the case in the recent past.

Nevertheless, Jordan has the potential to benefit more from its geographical proximity to GCC economies and Europe,

Boosting economic growth over the longer term will require Jordan's policymakers to address a number of challenges.

Jordan could also benefit from more openness to international trade and investment, which would trigger further efficiency gains in its domestic economy

and facilitate the transfer of knowledge and technology. Tariff barriers remain high in international comparison (107th)

reflecting Morocco's relative social and political stability and efforts made over recent years to modernize its business environment, particularly its administrative aspects.

This rise is driven mainly by a sounder macroeconomic environment, which remains the country's most important competitiveness strength (11th).

The economy is expected to stabilize after two difficult years, mainly driven by external developments. This steadier economic context provides an important opportunity for the country to enhance its competitiveness potential.

Iran has to build on its solid macroeconomic positioning its large market size, and its fairly well educated population.

The Global Competitiveness Index 2014 2015 38 The Global Competitiveness Report 2014 2015 competitiveness and provide an important boost to the country's economic growth in the shorter as well as longer terms.

First, the macroeconomic environment has deteriorated over recent years to reach 141st position mainly because of a widening fiscal deficit, rising public indebtedness

Second, measures to intensify domestic competition (118th) would result in efficiency gains and contribute to energizing the economy by providing access to new entrants.

This, in turn, would make the country's private sector more dynamic thus fostering the creation of new jobs.

and provide new entrants to the labor market with enhanced opportunities. Sub-saharan africa Amid the economic turmoil that affected advanced economies in recent years, the sub-Saharan African region provided something of a silver lining in an otherwise broadly felt economic downturn.

As growth is now modestly returning in advanced economies, sub-Saharan economies carry on registering impressive growth rates of close to 5 percent in 2013 with rising projections for the next two years below only emerging and developing Asia.

Yet important downside risks remain: although inflation has been coming down from the high rates of the past two years thanks to prudent monetary policy and moderating food prices, rising fiscal deficits

which are exacerbated most in Zambia, Ghana, and Gambia and a slowdown in emerging markets could dampen growth prospects, particularly in resource-rich economies.

More importantly, more than a decade of consistent high growth has trickled not yet down to all segments of the population.

Most economic activity takes place in the informal sector, accounting for more than half of GDP and employing more than 80 percent of the population;

only one in two young Africans participates in wage-earning jobs. 25 Going forward, the main challenge will

This will require focusing on efforts to transition from still largely agriculture-based economies to higher-value-added activities

Only a handful of sub-Saharan economies the island states of Mauritius and Seychelles, in addition to Cape verde have noteworthy health and education systems.

The region's poor performance across all basic requirements for competitiveness stands in contrast to its comparatively stronger performance in market efficiency, where several of the region's middle-income economies fare relatively well.

now a solid 17 places ahead of the second-ranked South africa, to the lowest ranked Guinea at 144th efforts to strengthen the very basic requirements for long-term growth will be crucial for sustaining economic growth and making it more inclusive.

its efficient goods market (25th) is characterized by enabling conditions for both domestic and foreign competition,

more effort will be needed to develop its human capital. Although rising enrollment rates, particularly tertiary enrollment, are laudable (40.32 percent in 2012)

and falls to 56th place this year, third among the BRICS economies. South africa does well on measures of the quality of its institutions (36th),

The country also has an efficient market for goods and services (32nd), and it does reasonably well in more complex areas such as business sophistication (31st)

But the country's strong ties to advanced economies, notably the euro area, has made it more vulnerable to the economic slowdown of those economies.

its performance in the macroeconomic environment having dropped sharply in the previous year remains at 89th.

Building a skilled labor force and creating sufficient employment also present considerable challenges. The health of the workforce is ranked 132nd out of 144 economies as a result of high rates of communicable diseases and poor health indicators more generally.

Higher education and training remains insufficient (86th) and labor market efficiency (113th) is affected by extremely rigid hiring and firing practices (143rd),

as well as its sound macroeconomic environment (13th), based on balanced fiscal budgets. However, the country's heavy reliance on diamond mining

particularly for a middle-income country in transition to becoming an efficiency-driven economy. Education enrollment rates at all levels remain low by international standards,

and to set its economy on a more diversified growth path. Namibia moves up by two places to 88th position.

The country continues to benefit from a relatively well functioning institutional environment (50th with well-protected property rights, an independent judiciary,

and diversify its economy, efforts to build its human resource base will be critical: school enrollment rates remain low compared with other sub-Saharan upper-middle-income countries,

Its economy is supported by financial markets that are developed well (up by seven places to 24th position), an efficient labor market (25th),

or rank 118) to start a business could further improve the enabling environment for businesses.

On the other hand, Kenya's overall competitiveness is held back by a number of factors that hinder its long-term economic growth, particularly in view of its transition toward middle-income status:

infrastructure particularly telephony and electricity (114th) does not meet the needs of Kenya as the largest East African economy;

weakening fiscal finances are affecting the macroeconomic environment (126th; and health remains an area of serious concern (117th.

and inflation is over 11 percent. With regard to strengths, public institutions are characterized by relatively high government efficiency (59th) and strong property rights (54th.

29 In addition, the country's macroeconomic environment remains challenging and is characterized by a high government deficit of 5. 4 percent of GDP.

Inflation although still high at close to 8 percent returned to single digits this year although fiscal indicators remain relatively high.

characterized by low domestic and foreign competition. In the near-term future, it will be important not to lose sight of these challenges for the country's long-term competitiveness,

Despite efforts to improve its macroeconomic environment including the dollarization of its economy in early 2009,

which brought down inflation and interest rates Zimbabwe still receives a low rank in this pillar (87th),

and low inflation. Weaknesses in other areas include health (129th in the health subpillar; low education enrollment rates, with only every second child participating in secondary education;

Nigeria now Africa's largest economy continues its downward trend and falls by seven places to 127th this year, largely on the back of weakened public finances as a result of lower oil exports.

poor availability and affordability of finance in general and the difficulties in obtaining loans in particular (137th) remain an important bottleneck to economic growth.

thus, be critical to keep the ongoing reform momentum to diversify the economy and increase the country's long-term competitiveness.

Mozambique ranks 133rd this year, with efforts required across many areas to lift its economy onto a sustainable growth and development path, particularly in view of its natural resource potential.

Macroeconomic stability is weak (110th) on the back of increased inflation and a high government deficit.

including making critical investments across all modes of infrastructure (128th), establishing a regulatory framework that encourages competition to foster economic diversification,

and developing a sound financial market (126th). Also critical, in view of the country's rapidly growing population and high unemployment, are investing in the healthcare system and primary education (135th) as well as higher education and training (138th.

its strengths are in its macroeconomic environment and market size, but much remains to be done across the board to build up the country's 2014 World Economic Forum 1. 1:

Angola has a unique opportunity to invest revenues in competiveness-enhancing measures. In this context, its poor performance across all governance indicators is worrisome:

a tool that assesses the competitiveness of 144 economies across all geographies and stages of development.

which is the key driver of economic growth. In the current economic context of uneven recovery across advanced economies and renewed risks for emerging economies, the current edition of the Report has highlighted the need for more structural reforms

and enhanced smart investments in both advanced and emerging economies in order to accelerate robust economic growth, create productive jobs,

and boost inclusive growth with more and better opportunities for all segments of the population.

At present, the pace of change remains uneven, and more determination and shared commitment among all stakeholders is needed urgently

in order to build strategic public-private collaborations. Building this type of collaboration, as the ongoing World Economic Forum's project on the Competitiveness Lab and the Competitiveness Practices Raising productivity and competitiveness is crucial to sustaining economic growth

and enhancing prosperity in a country. The process requires long-lasting commitment from relevant stakeholders to mobilize resources

and provide the effort that can lead to the necessary reforms and productive investments across a vast array of areas.

However stakeholders'actions most notably those originating from the public and private sectors are not always well coordinated and aligned,

so that synergies are often not fully realized and the results of the combined efforts are maximized not.

At the same time, the business community does not always sufficiently engage in long-term and often risky investments in areas such as research and development

information and communication technologies, or employees'skills development strategies. If businesses could be engaged in this way,

the positive spill over effects of their investments could result in higher societal gains. Fortunately, stakeholders are increasingly acknowledging the need to address this disconnect between public-and private-sector actions.

The last few years have seen a growing recognition of the vital importance of supporting the definition

The private sector can contribute its management expertise and resources, and the public sector can contribute its understanding of public needs and resources.

in order to broker effective collaborations, stakeholders must be able to count on clear targets and evaluation frameworks,

and enabling regulatory environments must be in place. However, and perhaps even more importantly, strong leadership in both the public and private sectors is essential.

Clear vision and effective communication is needed to overcome the main obstacle: lack of trust between the parties.

Since its introduction in 2005, the GCI has been used by a growing number of countries and institutions to benchmark national competitiveness.

and weaknesses of its national competitiveness environment and pinpoint those factors most constraining its economic development.

Sala-i-Martín et al. 2004 for an extensive list of potential robust determinants of economic growth. 4 See Easterly and Levine 1997;

in any given period, gives a particular contribution to an overall economy's growth thanks to its ability to transform the methods of production in a wide array of industries.

In order to capture the resource intensity of the economy, we use as a proxy the exports of mineral products as a share of overall exports according to the sector classification developed by the International Trade Centre in their Trade Performance Index.

for the past five years, been above an average of that of economies at the technology frontier.

while changing the groupings in the country/economy profiles. The groupings in the profiles are based on IMF data,

OECD, and UNDP 2014.27 IMF 2014b.28 The Central bank's bailout of African Bank Investments on August 11, 2014, is reflected not in the EOS data this year,

and Competitiveness Practice Repository is a new initiative of the World Economic Forum to orchestrate an informed multi-stakeholder process for better understanding

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Statistically testing the validity of the Global Competitiveness Index as an estimate of the level of productivity of an economy For almost 10 years,

the Global Competitiveness Index (GCI) has been used by the World Economic Forum to assess the level of productivity of an economy,

It must be said from the start that measuring the level of productivity of an economy is a difficult task.

and the part of that growth rate that could not be accounted for by the accumulation of physical capital and human capital.

Relationship between the GCI and level of income for 143 economies Source: World Economic Forum;

Indeed, most economic growth theories predict that the growth rate will be directly related to the level of productivity,

which, in turn, determines the rate of return of investment in an economy. As a result, most theories would predict the GCI to be positively related to an economy's growth rate.

However, estimating a bivariate relation between the growth rate and the GCI would be a mistake.

The reason for that lies in what economists call the conditional convergence effect which posits that, all other things being equal,

there is a natural tendency for poor economies to grow faster a phenomenon known as conditional convergence. 1 In other words,

if all countries had the same investment and population growth rates and the same levels of productivity,

then those that were more competitive would experience higher rates of long-term economic growth. In reality, however, countries differ both in their levels of income

these rates would be affected more closely only by the level of productivity across different economies.

which is consistent with the view that the GCI is a good proxy for the level of productivity or competitiveness of an economy.

In other words, the GCI's estimate of the determinants of competitiveness which, in turn, fundamentally shape the (conditional) medium to long-run growth rate of an economy

N=132 economies. 2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014 2015 48 The Global Competitiveness Report 2014 2015 NOTES 1 The reason that poor economies do not grow systematically faster is that other things are not equal.

Among those other things that are not equal, we find the level of productivity or competitiveness,

Economic growth, 2nd edition. Cambridge: MIT Press. Hall, R. and C. Jones. 1999. Why Do Some Countries Produce So much More Output Per Worker than Others?

The Quarterly Journal of Economics 114 (1): 83 116. IMF (International monetary fund. 2014. World Economic Outlook Database, April.

Review of Economics and Statistics 39 (3): 312 20. World bank. 2014. World Development Indicators 2014 database.

20%1. 13 Business costs of terrorism 1. 14 Business costs of crime and violence 1. 15 Organized crime 1. 16 Reliability of police services

and reporting standards 1. 19 Efficacy of corporate boards 1. 20 Protection of minority shareholders'interests 1. 21 Strength of investor protection*2014 World Economic

Macroeconomic environment...25%3. 01 Government budget balance*3. 02 Gross national savings*3. 03 Inflation*f 3. 04 Government debt*3. 05 Country

credit rating*4th pillar: Health and primary education...25%A. Health...50%4. 01 Business impact of malaria g 4. 02 Malaria incidence*g 4. 03 Business impact of tuberculosis g 4. 04

33%5. 03 Quality of the education system 5. 04 Quality of math and science education 5. 05 Quality of management schools 5. 06 Internet access in schools

33%5. 07 Local availability of specialized research and training services 5. 08 Extent of staff training 6th pillar:

17%A. Competition...67%1. Domestic competition...variable h 6. 01 Intensity of local competition 6. 02 Extent of market dominance 6. 03 Effectiveness of antimonopoly policy 6. 04 Effect

of taxation on incentives to invest 6. 05 Total tax rate*6. 06 Number of procedures required to start a business

*i 6. 07 Time required to start a business*i 6. 08 Agricultural policy costs 2. Foreign competition...

variable h 6. 09 Prevalence of trade barriers 6. 10 Trade tariffs*6. 11 Prevalence of foreign ownership 6. 12 Business impact of rules

on FDI 6. 13 Burden of customs procedures 6. 14 Imports as a percentage of GDP*j B. Quality of demand conditions...

. 05 Venture capital availability B. Trustworthiness and confidence...50%8. 06 Soundness of banks 8. 07 Regulation of securities exchanges 8. 08 Legal rights index*9th pillar:

%5 10%10%10 30%30%*For economies with a high dependency on mineral resources, GDP per capita is not the sole criterion for the determination of the stage of development.

and sample maximum are, respectively, the lowest and highest country scores in the sample of economies covered by the GCI.

/Appl. is used for economies where there is no regular train service or where the network covers only a negligible portion of the territory.

In order to capture the idea that both high inflation and deflation are detrimental, inflation enters the model in a U-shaped manner as follows:

for values of inflation between 0. 5 and 2. 9 percent, a country receives the highest possible score of 7. Outside this range,

scores decrease linearly as they move away from these values. g The impact of malaria, tuberculosis,

or has disappeared without specific measures. h The competition subpillar is weighted the average of two components:

domestic competition and foreign competition. In both components, the included indicators provide an indication of the extent to which competition is distorted.

The relative importance of these distortions depends on the relative size of domestic versus foreign competition.

This interaction between the domestic market and the foreign market is captured by the way we determine the weights of the two components.

Domestic competition is the sum of consumption (C), investment (I), government spending (G), and exports (X),

while foreign competition is equal to imports (M) . Thus we assign a weight of (C i+G+X)/(C i+G+X+M) to domestic competition

and a weight of M c i+G+X+M) to foreign competition. i Indicators 6. 06 and 6. 07 combine to form one single indicator. j For indicators 6. 14

, imports as a percentage of GDP, we first apply a log-transformation and then a min-max transformation. k The size of the domestic market is constructed by taking the natural log of the sum of the gross domestic product valued at purchased power parity (PPP) plus the total value (PPP estimates) of imports of goods

and services, minus the total value (PPP estimates) of exports of goods and services. Data are normalized then on a 1-to-7 scale.

PPP estimates of imports and exports are obtained by taking the product of exports as a percentage of GDP and GDP valued at PPP.

and services, normalized on a 1-to-7 scale. PPP estimates of exports are obtained by taking the product of exports as a percentage of GDP and GDP valued at PPP.

this concept was translated into the universal declaration of human rights. 1 Its economic origin is rooted in the unprecedented economic development of Western economies since the mid-20th century.

During this period, high standards of living were achieved by large swaths of the populations of these economies,

a broad-based movement concerned with protecting the environment, and in particular with the effects of environmental damage on the health and well-being of both humans and the environment.

Over the past decades, these ideas have become prominent in the global discourse and have helped to create a public expectation of growing prosperity that goes hand in hand with social justice and environmental protection.

Yet the possibility of achieving this vision within the boundaries of the prevalent growth model has been called into question as increasing pressures on the environment have become evident

The mounting social and environmental pressures observed in rapidly growing developing and emerging economies suggest that these dimensions are intertwined strongly

but rather as integral parts of the economic growth process. Despite increased awareness about the urgency of social and environmental issues, progress toward a more sustainable future is slow.

The world is also facing an increasing scarcity of water, energy, and mineral resources, for which demand continues to climb.

These developments signal that despite growing awareness about the risks related to unsustainable resource and environmental management the world is not moving toward a more sustainable path

mainly driven by skill-biased technological change related to globalization. 4 There is a concern that this trend may result in a high concentration of wealth similar to that experienced by Western economies in the earlier stages of industrialization.

and that emerging economies aim to achieve were realized only in the first decades following WORLD WAR II. 6 The recent interest in social inclusion

In the absence of economic growth, any effort toward a more equal distribution of income would do little good for the millions of people in developing countries who remain at low levels of income and human development.

because competitive economies tend to be more innovative, more resilient, and better able to respond to external shocks

Progress on these challenges requires high levels of multi-stakeholder collaboration for example on environmental regulation, where a balance with productivity needs to be ensured,

James cameron, Chairman, Climate Change Capital, United kingdom Dan Esty, Professor, Yale university, USA Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance and Financial services

.,USA Mari Elka Pangestu, Minister of Tourism and Creative Economy, Indonesia Lindene Patton, Chief Climate Product Officer

Environment Programme, Switzerland 2014 World Economic Forum The Global Competitiveness Report 2014 2015 55 1. 2:

Since 2010, the World Economic Forum in collaboration with a multi-stakeholder Advisory board of international experts (Box1) has embarked on an effort to integrate the concept of sustainability into its competitiveness work.

The breadth of the definition was meant to capture the several dimensions of development that go beyond the usual boundaries of economic growth

and resource scarcity could affect them (see Box2). First, these challenges could affect a firm's bottom line at some point in time,

for example when businesses must face higher prices for commodities used as inputs of production. And third,

10 and in the number of financial management firms signing on to the United Nation's Principles for Responsible Investment. 11 Companies are also taking action on issues that may impact the sector in

and supported initiatives relating to water scarcity because this scarcity may have in some cases is already having an impact on crops and therefore on the supply of raw materials and cost of commodities.

Another example is the information technology (IT) sector, where sustainability is fast becoming an important corporate-performance 2014 World Economic Forum 1. 2:

The World bank estimates the cost of pollution to China at around 9 percent of its gross national income

and realize opportunities associated with climate-smart business. For example, the Consumer goods Forum (CGF) is focused a group on sustainability composed of 400 retailers, manufacturers, service providers,

and other stakeholders across 70 countries, with combined sales of nearly US$2. 5 trillion. 11 More specifically, the CGF has four key focus areas:

In another example, the Banking and Environment Initiative (BEI) comprises 10 of the world's largest banks,

Progress toward stronger environmental regulations (cont'd.)industry in collectively directing capital toward environmentally and socially sustainable economic development.

For example, the BEI is supporting the CGF by providing models to finance sustainable commodity supply chains.

and communication cross stakeholders are just a first step toward finding a pragmatic solution to complex environmental problems,

see the website of the Australian Government's Department of the Environment at http://www. environment. gov. au/climate-change/repealing-carbon-tax. 3 Kuramochi 2014.4 See the GLOBE Climate Legislation Study

this checklist is from pages 4 and 5 of a summary of that report on the organization's website, http://www. globeinternational. org/studies/legislation/climate. 6 Harder 2014.7 The Economist 2014.8

and difficulties they confront in continuing to expand their capacity are beginning to reduce their footprint by adopting greener data centers that significantly reduce energy demand.

and affects an economy in different ways. Multiple channels support a positive relationship between environmentally sustainable practices and productivity gains;

agriculture is exposed the most to the effects of climate change such as rise of temperature, water scarcity,

In the context of rising energy demand, improving energy efficiency through management changes, investing in technology improvement,

investments in capital expenditures for emission reduction can generate business opportunities for new sectors Climate change is perceived already as one of the environmental challenges with the most far-reaching and most severe negative impact on human well-being,

and introducing emissions standards are more costly to the economy as a whole than the use of carbon pricing,

15 while others see carbon taxes as having more negative impact on the economy in the short Run for example, according to a study by the Congressional Budget Office of the United states,

These weather events interrupt the regular flow of goods and services both within and between countries.

A high-quality natural environment improves the productivity of the workforce by reducing health damage caused by pollution or environmental degradation.

efforts to reduce pollution may be interpreted as an investment in human capital. Recent empirical evidence has indicated that, in the United states,

20 Finally, environment-driven health problems lead to resource misallocation, forcing governments to fund additional, and otherwise unnecessary, health programs and diverting resources that would

otherwise go into productivity-enhancing investments in for example, education or innovation. Biodiversity for innovation. Ultimately, environmental degradation can impact the way ecosystems work

and ocean acidity. 22 Biodiversity is also a key driver of economic growth, especially in developing countries,

Last but not least, biodiversity restoration and protection can create profitable business opportunities, incentivizing the development of new technologies and products for their utilization in still-unexplored markets.

and cultural heritage. 23 Competitiveness and social sustainability Interest among economists and social scientists in the relationship between income distribution and economic performance has been growing over the last 20 years.

the diverging patterns in income of different population clusters in developing and developed economies alike are certainly tangible

and benefit from higher rates of economic growth can be affected. Based on our definition of sustainable competitiveness, specified above,

reducing the ability of the economy to compete globally. At the same time, when young people are marginalized by the labor market

thus reducing the overall level of human capital. Finally, the participation and empowerment of women is key to ensuring a large talent pool

An equitable society guarantees the same opportunities for all its members, rewarding them according to their talents

which is correlated highly with access to other opportunities. Although some earlier literature found a positive relationship between growth and inequality

and access to basic services remains a challenge. Even in several fast-growing developing countries, it appears that growth has made not a notable dent in income inequality or poverty,

and the vulnerabilities associated with these problems remain entrenched. 1 The global community is calling for change for solutions that foster economic growth in a more inclusive manner.

and strengthen the contribution of economic growth to improvements in broad living standards is becoming an increasingly important concern for political and business leaders in developed and developing countries alike.

The economic fundamentals that have accompanied high and sustained economic growth are well known and form the basis of the World Economic Forum's 12-pillar model of competitiveness.

policies and structural reforms should provide equality of opportunity so that all segments of society can participate in its growth by expanding and improving labor, technology,

and capital in order to raise living standards. Increasing affordability and access to high-quality education and training

and pattern of economic growth. 6 The World Economic Forum's Global Project on Inclusive Growth aims to mobilize a better response to this challenge by drawing on its multiple,

An initial framework includes areas such as creating an enabling environment for human capital formation, reinforcing the wage

and productivity growth link, fostering entrepreneurship and investment, reinforcing business and political ethics, promoting gender parity,

reviewing fiscal policy (tax code and social protection), and providing improved public services and infrastructure. Once completed, this framework will be used as a point of departure for a series of policy dialogues among policymakers

business leaders, and other opinion shapers. The goal is to establish a more concretely actionable foundation for policy by giving countries a clearer relative sense of the extent to which they are exploiting the policy space and the best practices available to them on the basis of the recent experience of their peers or the historical experience

By doing so, the Global Project on Inclusive Growth aims to shed light on the full spectrum of policy levers available to promote social participation in the process and benefits of economic growth without dampening incentives to work

26 second, inequality can lead to reduction in human capital investments; 27 third, it may require more redistributive efforts,

In advanced economies, welfare states promote the economic and social well-being of the society by protecting their members from excessive loss of income during old age and during periods of unemployment or illness.

Although welfare systems represent a source of stability for an economy, they can turn into a hurdle for its competitiveness

The resilience of a social system also depends on the features of its labor market and on the extent of the black economy.

Moreover, a widespread black economy may affect the resilience of a social system, since informal workers are more vulnerable to concerns related to job loss,

The quality of the environment and the structure of a society are correlated clearly. On the one hand, well-managed natural resources increase the quality of life,

and between generations, provide better opportunities for the whole community, and improve the resilience of the society.

as resource scarcity may leave the poorest of the population unable to access basic necessities.

requires a functioning economy that, by definition, uses natural resources. For this reason, although the academic literature tends to focus on these two dimensions individually,

a degraded environment negatively affects the health, and thus the productivity, of the workforce. It also reduces the overall quality of life of members of the society.

of which 90 percent are children's. An unhealthy environment dampens economic opportunities, prevents people from participating in the life of the community,

and the environment. The relationship between demography and environmental/social sustainability is extremely intricate. Rapidly growing populations can be a source of environmental stress, leading to greenhouse gas emissions, high rates of soil erosion,

Persistent poverty may also affect the environment and may lead to massive unplanned urbanization, such as slums, where large segments of the population are without access to basic services.

Such settlements can have significant repercussions for the environment, including deforestation and the pollution of water resources,

which results from the lack of waste management. 2014 World Economic Forum 1. 2: Assessing Progress toward Sustainable Competitiveness 62 The Global Competitiveness Report 2014 2015 Energy and social stability.

because the elasticity of energy demand (fuel and electricity) is relatively rigid in the short run.

high energy prices can endanger the affordability of basic services unless the loss of purchasing power is offset by fiscal policies.

An additional link between energy environment, and social sustainability is the use of particular alternative energy sources such as ethanol and biodiesel.

Although these types of energy sources help to reduce CO2 emissions, they also use wide land areas

Rising competition over these resources could eventually result in military conflict. Adverse changes in temperature and precipitation have started to affect the capacity of many areas to produce food,

and reduces opportunities to better their lives and that of their families. THE MEASUREMENT OF SUSTAINABLE COMPETITIVENESS In order to assess where we stand today

and benchmark themselves against peers persists. Without an improvement in the quality and availability of key data on social and environmental sustainability, countries will continue to face challenges

The Organisation for Economic Co-operation and Development (OECD) estimated that the finance gap (the amount of investment necessary to achieve the MDGS by 2015) was approximately US$120 billion a year,

Provide quality education and lifelong learning opportunities for all 4th pillar (primary education subpillar) and 5th pillar (higher education and training) Goal 8:

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all 7th pillar (labor market efficiency) Goal 9:

The GCI measures the level of competitiveness of an economy as discussed in Chapter 1. 1,

and factors that determine the level of productivity of an economy. The GCI is a comprehensive index that takes into account 12 pillars or drivers:

institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business

and Access to healthcare services. This category is thus a measure of inclusion as well as a measure of the fulfillment of basic physical needs.

Vulnerable employment as a percentage of total employment, the Extent of the informal economy, and Social safety net protection.

The extent of the informal economy provides a sense of how well integrated the workforce is into official structures.

Providing protection also leads to a sense of financial security that enables individuals to undertake investments and entrepreneurial risk,

thus benefitting the economy. A third category can be thought of as an assessment of social cohesion

but keep in mind that from a normative approach excessive inequality may hide relative poverty that would prevent lower-income families from accessing the same opportunities as those with incomes at the high end of the range in the society.

the absence of such social mobility can be detrimental to human capital development because talented individuals,

and they may leave their home country to pursue opportunities abroad. Additionally, low expectations for the future in a context of high unemployment and persistent inequality can spark political instability.

Extent of informal economy Social safety net protection Income Gini index Social mobility Youth unemployment Figure 2:

providing an assessment of a country's commitment to protecting natural capital. We also include a measure of the number of key International environmental treaties

These indicators comprise measures of Baseline water stress in an economy, which models the relation between water supply availability and demand in each country;

Wastewater treatment, which gauges what percentage of (mainly urban) wastewater is treated before it is released into the ecosystem;

The third area takes into consideration the degradation of the environment, which can cause serious damage to human health

and the Quality of the natural environment. Particulate matter concentration is a proxy for air pollution,

The quality of the natural environment is based a perception assessment of the local status of the environment that measures the observation of local business leaders on the ground.

additional variables are needed to obtain a more Environmental policy Use of renewable resources Degradation of the environment Environmental regulations (stringency

matter concentration CO2 intensity Quality of the natural environment Figure 3: Summary of indicators for environmental sustainability 2014 World Economic Forum The Global Competitiveness Report 2014 2015 67 1. 2:

we are able to cover 113 economies this year, a subset of the 144 economies covered in the 2014 2015 GCI.

Results of the sustainability-adjusted GCI analysis This section presents the results of the sustainability-adjusted GCI.

Developed economies tend to have more mature institutions that ensure that citizens have access to basic infrastructure, healthcare, and welfare.

Countries toward the lower end of the competitiveness scale tend to fare better than advanced economies in terms of emissions such as CO2,

these economies are currently facing problems that advanced economies have experienced already in their own earlier stages of development,

RESULTS FOR SELECTED ECONOMIES Because many of the aspects relating to sustainability require many years for significant change to occur,

we observe only small movements in the performance of economies from one year to the next.

adjusted GCI Sustainabilityadjusted GCI Country/Economy Rank*Value Value Direction Value Direction Value Direction Switzerland 1 5. 7 6. 75

Environmental sustainability adjusted GCI Sustainabilityadjusted GCI Country/Economy Rank*Value Value Direction Value Direction Value Direction India 71 4. 21

as presented in Chapter 1. 1. Only the 113 economies covered by this exercise are included in the table.

The following description of results (presented in the order of this year's GCI ranking) provides an overall picture of the performance and highlights the main strengths and areas of challenge for selected economies.

Therefore, although Switzerland's leadership manages its social and environmental capital rather well, stakeholders should not be complacent

and should continue to monitor and improve the management of Swiss resources. The sustainability performance of the United states is mixed.

US competitiveness improves slightly but less than that of other advanced economies because of its still-high levels of income inequality and youth unemployment (15 percent on a decreasing trend).

Germany is similar in many respects to the Nordic economies. On the social sustainability pillar, it is characterized by relatively low youth unemployment, widespread access to healthcare,

Japan delivers a relatively positive performance on the social sustainability component as a result of its low youth unemployment, its small informal economy,

On the environment side similar to other economies in the region, Norway is making efforts to reduce its footprint on its natural capital

but should manage fish stocks and forests in a more sustainable way because both are declining.

the country is signatory to fewer international environmental treaties than most other economies. 2014 World Economic Forum The Global Competitiveness Report 2014 2015 71 1. 2:

especially as it pertains to the environment. In terms of social sustainability, China is slowly expanding access to drinking water and sanitation for the entire population,

putting the invaluable natural capital of the country at risk. As it faces difficulties related to sustainability, especially in the environmental area,

The country should better manage its natural capital to ensure prosperity in the long run. South africa's main social problems remain its extremely high income inequality and youth unemployment,

In addition, CO2 emissions are at the level of more industrialized economies. On a positive note, it seems that the country has made progress in forest stewardship.

But the adoption of tighter environmental regulations is needed to make sure that Brazil's rich natural capital is managed responsibly

its low youth unemployment and widespread access to water and sanitation offset its relatively high level of inequality, its widespread informal economy,

access to healthcare services is limited and Colombia does not yet have integrated an social safety net, which exposes a large fraction of the population in vulnerable 2014 World Economic Forum 1. 2:

Vietnam's recent industrialization combined with its limited environmental norms is having a strong negative impact on the environment,

Social sustainability is hindered mainly by the population's very uneven access to sanitation (still only 36 percent of Indians have access to these basic services) and high rates of vulnerable employment.

its large informal economy and its lack of a universal social safety net show that India remains largely a poor country that is developing with large disparities within its society.

and limited protected areas are wearing down the assessment of the quality of the natural environment.

Kenya has made only slight progress in expanding access to improved drinking water, healthcare services, and sanitation facilities.

and the government has adopted measures to protect the environment with a relatively strict regulatory framework,

and the adoption of a national environment policy. Yet protection of forests and habitats remains an issue,

and large portions of the population work in vulnerable jobs or in the informal economy and do not have access to social security.

In addition, large portions of the population do not have access to healthcare services and are protected not by a social safety net.

The social structure of Senegal remains somewhat less unequal than other African economies, however. Its income Gini index is 40.3 better than that of Ghana or Kenya.

The creation of several protected land areas and commitments to most of the international environment treaties are important steps that the country has taken recently toward protecting the environment.

Access to basic services remains very low for millions of Nigerians: only 28 percent of the population has access to basic hygiene,

Similarly, safety nets and healthcare services are available only to a minority of people. These issues, typical of a developing economy, may jeopardize the future competitiveness of the country as they limit the country's human capital.

On the environmental side, Nigeria's low stage of development results in a low level of carbon intensity,

CONCLUSIONS AND NEXT STEPS This chapter assesses sustainable competitiveness in 113 economies and fosters the understanding of conceptual links between productivity on the one hand and social and environmental sustainability on the other.

economies that have been investing and planning for the long run, balancing economic progress with social inclusion and good and effective environmental stewardship, will be in a better position to maintain high prosperity for their citizens, even in presence of external shocks.

Five consecutive years of low growth in advanced economies and the more recent slowdown in emerging markets create a climate of lack of opportunities,

The World Economic Forum will continue to serve the international community by providing a neutral multi-stakeholder platform to advance the understanding and analysis of this important concept.

Recognizing that multi-stakeholder collaboration is vital for creating the confidence necessary to undertake the investments to build more sustainable economies,

we hope that this assessment will provide the basis for public-private dialogue on how to make economies environmentally and socially more sustainable for the benefit of present and future generations.

Assessing Progress toward Sustainable Competitiveness 74 The Global Competitiveness Report 2014 2015 5 Capital in the Twenty-first Century.

The central idea of the analysis by Piketty is that only when the growth rate is higher than the return to capital will the benefits of growth lead to widespread prosperity.

the slow growth experienced recently in advanced economies has revived concerns about secular stagnation, with Lawrence Summers envisaging that even before the financial crisis a trend of low aggregate demand had begun in the United states. 7 For examples,

see Acemoclu and Robinson 2006 and Avent 2014.8 This definition is from the World Commission on Environment and Development's (the Brundtland Commission's) report Our Common Future.

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and is based on the assumption that countries can experience either an opportunity if they manage their resources well

Access to healthcare servicesd S06 Social safety net protection S07 Extent of informal economy S08 Social mobility S09 Vulnerable employment*Environmental sustainability

matter (2. 5 concentration*(log) S20 Quality of the natural environment NOTES a Formally we have 0. 4 x country score sample minimum+0. 8 (sample maximum sample

maximum are, respectively, the lowest and highest country scores in the sample of economies covered by the sustainability-adjusted GCI in each pillar. 2014 World Economic Forum 1. 2:

and sample maximum are, respectively, the lowest and highest country scores in the sample of economies covered by the sustainability-adjusted GCI.

which the distribution of income among individuals or households within an economy deviates from a perfectly equal distribution.

2014) S05 Access to healthcare services How accessible is healthcare in your country? 1=limited only the privileged have access;

S07 Extent of informal economy In your country, how much economic activity would you estimate to be undeclared or unregistered?

1=most economic activity is undeclared or unregistered; 7=most economic activity is declared or registered 2013 2014 weighted average Source:

World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.

to what extent do individuals have the opportunity to improve their economic situation through their personal efforts regardless of the socioeconomic status of their parents?

1=little opportunity exists to improve one's economic situation; 7=significant opportunity exists to improve one's economic situation 2013 2014 weighted average Source:

World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report.

CIESIN uses time series of the World Database on Protected Areas (WDPA) developed by the United nations Environment Programme (UNEP) World Conservation Monitoring Centre (WCMC) in 2011

. yale. edu/epi/issue-rankings S20 Quality of the natural environment In your country, how would you assess the quality of the natural environment?

or the intensity of market competition that are more qualitative than hard data can provide.

THE SURVEY IN NUMBERS The 2014 edition of the Survey captured the opinions of over 14,000 business leaders in 148 economies between February and June 2014;

because of data issues, out of the 148 economies surveyed, 144 are included in the GCI this year (please see the data treatment section below for further details).

In 22 economies the Survey was administered entirely online, while in a further 16 over 90 percent of respondents completed the Survey online (see Table2 for statistics about the administration approach).

however, no new economy is added 2014 World Economic Forum 1. 3: The Executive Opinion Survey 86 The Global Competitiveness Report 2014 2015 Table 1:

148 economies surveyed Minimum 32: Swaziland, Israel Maximum 369: United states 362: China 3 largest samples 340:

. 3%)Administration method Online (39.1%)Other method (60.9%)144 economies with enough valid responses*14,091 surveys collected NUMBER OF ECONOMIES NUMBER OF SURVEYS

Collected 13,264 surveys retained*SAMPLE SIZE (number of valid surveys by economy) Figure 1: Descriptive statistics of the Executive Opinion Survey 2014 Source:

Overall Perceptions of Your Economy III. Infrastructure IV. Innovation and Technology Infrastructure V. Financial Environment VI.

Foreign Trade and Investment VII. Domestic Competition VIII. Company Operations and Strategy IX. Government and Public Institutions X. Education and Human Capital XI.

Corruption, Ethics and Social Responsibility XII. Travel & Tourism XIII. Environment XIV. Health Most questions in the Survey ask respondents to evaluate, on a scale of 1 to 7, one particular aspect of their operating environment.

At one end of the scale, 1 represents the worst possible situation; at the other end of the scale, 7 represents the best (see Box2 for an example.

The administration of the Survey could not be carried out without the network of over 160 Partner Institutes worldwide.

Partner Institutes are recognized research or academic institutes, business organizations, national competitiveness councils, or other established professional entities and, in some cases, survey consultancies, that have the network

and capacity to reach out to the business community, are reputable organizations, and have a firm commitment to improving the competitiveness conditions of their economies.

The full list of Partner Institutes can be found at the beginning of this Report. 1 In administering the Survey,

The Survey sampling guidelines specify that the Partner Institute build a sample frame that is, a list of potential business executives from small-and medium-sized enterprises and large companies from the various Figure 2:

Country/economy coverage of the Executive Opinion Survey n Previous coverage n 2014 additions 2014 World Economic Forum First component*Second component:

2014 edition*Country/Economy Survey edition No. of respondents Weight(%)No. of respondents Online(%)Weight(%)Albania 2013 81 45.3 79 54.7 Algeria 2013 65

2014 edition*Country/Economy Survey edition No. of respondents Weight(%)No. of respondents Online(%)Weight(%)Lithuania 2013 141 44.6 146 60.3 55.4 Luxembourg 2013

Bold typeface identifies economies where the Survey was conducted entirely online. All statistics were computed following the edition of the data.

Survey edition (s) used for the computation of economy scores: 2012 and 2014; 2013; 2014.

and other stakeholders. Striving for excellence The Global Competitiveness and Benchmarking Network has, over the years,

and measurement of economic growth as well as to applying surveying best practices. To this end, it has sectors of activity,

which includes firms representing the main sectors of the economy (agriculture, manufacturing industry, non-manufacturing industry, and services).

Competitiveness, in that early report, was defined as the ability of one enterprise to do as well as or outperform, another company or group of companies while taking into account the framework conditions in the country.

university faculties of economics or business administration; and the economic media. Median values were calculated for each question and by country.

and business leaders in their efforts to formulate improved economic policies and institutional reforms. In the minds of its authors, an undertaking of this dimension can never be perfect

The Global Competitiveness Report has grown to cover over 140 economies to assess the key drivers of development.

in order to reflect the newest thinking in matters of economic growth. Since 2005, the Global Competitiveness Index has provided the methodology used to conduct the assessment.

and business leaders in their efforts to formulate improved economic policies and institutional reforms. In parallel to this development of the index, the original survey has evolved

in most cases, an economy not included in the Survey cannot be covered by an index.

and heightened comparability across economies. DATA TREATMENT AND SCORE COMPUTATION This section details the process whereby individual responses are edited

and aggregated in order to produce the scores of each economy on each individual question of the Survey.

Because small-and medium-sized enterprises (SMES) account for a large share of economic activities in most countries,

Indeed, small enterprises, defined here as those with fewer than 50 employees, account for 27 percent of the sample in Advanced Economies and Emerging and Developing Asia and for 48 percent in Sub-saharan africa,

On average, 19 percent of the surveyed companies'equity is owned by foreigners (as either minority or majority shareholders.

Regular exporters (companies for which exports account for more than 50 percent of revenues) account for just 6 percent of the sample in the Commonwealth of independent states and as much as 22 percent in Advanced Economies.

and services) in a given country. Country averages were derived then by taking a weighted average of the sector averages using the estimated contributions of each sector to a country's GDP as weights.

the structure of the sample of responses might end up differing significantly from the actual structure of the economy,

despite the efforts of our Partner Institutes, especially in challenging environments where the administration of the Survey is difficult.

This means that attempting to mirror the structure of the economy would result in assigning a very high individual weight to the respondent from those companies.

Elsewhere, where agriculture still accounts for a large share of an economy, the agriculture sector tends to be represented under in the Survey sample because of the difficulty of identifying respondents in that sector who have an international perspective.

where a sample size was too small or the sectoral representation too different from the actual structure of the economy,

of the sample of 146 economies. 8 Any value d lying outside the range bounded by the 25th percentile minus 1. 5 times IQR

Although this remains a remedial This box presents the method applied to compute the country scores for the vast majority of economies included in The Global Competitiveness Report 2014 2015 (see text for exceptions.

Country/economy score calculation (Cont'd.)2014 World Economic Forum The Global Competitiveness Report 2014 2015 95 1. 3:

Country/economy score calculation (cont'd.)2014 World Economic Forum 1. 3: The Executive Opinion Survey 96 The Global Competitiveness Report 2014 2015 NOTES 1 The World Economic Forum's Global Competitiveness and Benchmarking Network would like to acknowledge e-Rewards Market research

The size value tracks closely with the overall size of the economy. Adjustments were made to the value based on searches in company directories

In order to reach the required number of surveys in each country (80 for most economies and 300 for the BRICS countries and the United states),

a Partner Institute uses the response rate from previous years. 4 The results are obtained the scores by each economy in the various questions of the Survey.

when, for a particular country, the ratio of the weight of one sector in the economy to the percentage of surveys from that sector in the country sample exceeded 5,

The weights of the other sectors were adjusted then proportionally to their weight in the country's GDP. 7 The 2013 scores were computed using a sector-weighted average. 8 The Survey was conducted in 148 economies in 2014.

/Economy Profiles 2014 World Economic Forum 2014 World Economic Forum The Global Competitiveness Report 2014 2015 101 2. 1:

Country/Economy Profiles Global Competitiveness Index This section details the economy's performance on the main components of the Global Competitiveness Index (GCI.

The first column shows the country's rank among the 144 economies included in the Index,

which the economy belongs, using the same classification as in the GDP per capita chart (gray line.

The most problematic factors for doing business This chart summarizes those factors seen by business executives as the most problematic for doing business in their economy.

with the exception of How to Read the Country/Economy Profiles The Country/Economy Profiles section presents a two-page profile for each of the 144 economies covered in The Global Competitiveness Report 2014 2015.

PAGE 1 Key indicators The first section presents a selection of key indicators for the economy under review.

The chart on the upper right-hand side displays the evolution of GDP per capita at purchasing power parity (PPP) from 1990 through 2013 (or the period for which data are available) for the economy under review (blue line.

The gray line plots the GDP-weighted average of GDP per capita of the group of economies to which the economy under review belongs.

Finally, advanced economies form a group of their own. For more information regarding the classification and the data, visit www. imf. org/weo.

Country/Economy Profiles 104 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

90.3.5 Macroeconomic environment...122.3.8 Health and primary education...62.5.8 Efficiency enhancers (50.0%).95.3.7 Higher education and training...

0. 9 Inflation...0. 6 Foreign currency regulations...0. 3 Insufficient capacity to innovate...0. 3 Government instability/coups...

Country/Economy Profiles 102 The Global Competitiveness Report 2014 2015 Rwanda, for which responses from the 2013 Survey have been used.

This column reports the country's position among the 144 economies covered by the GCI 2014 2015.

For those economies ranked in the top 10 in the overall GCI, individual indicators ranked from 1 through 10 are considered to be advantages.

and training services makes this indicator a competitive advantage. For those economies ranked from 11 through 50 in the overall GCI,

variables ranked higher than the economy's own rank are considered to be advantages. In the case of Iceland, ranked 30th overall, its rank of 11 on indicator 7. 10 Female participation in the labor force makes this indicator a competitive advantage.

For those economies ranked lower than 50th in the overall GCI any individual indicators with a rank of 50 or better are considered to be advantages.

For Cambodia, ranked 95th overall, Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk(*)

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 9...128 8. 05 Venture capital availability...1. 9...128 8. 06 Soundness of banks...

4. 3...95 1. 16 Reliability of police services...3. 7...96 1. 17 Ethical behavior of firms...

4. 4...84 1. 20 Protection of minority shareholders'interests...3. 8...93 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 2...123 3. 02 Gross national savings,%GDP*..

*15.2.105 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..

4. 1...46 5. 04 Quality of math and science education...4. 3...64 5. 05 Quality of management schools...

and training services...3. 8...91 5. 08 Extent of staff training...4. 4...32 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 5...142 6. 02 Extent of market dominance...

3. 6...83 6. 05 Total tax rate,%profits*..*31.7.45 Albania indicator 2. 08 Mobile phone subscription, where the country ranks 39th, constitutes a competitive advantage.

Country/Economy Profiles Index of Country/Economy Profiles Country/Economy Page Albania 104 Algeria 106 Angola 108 Argentina 110 Armenia 112

The 186 Georgia 188 Germany 190 Ghana 192 Greece 194 Guatemala 196 Guinea 198 Country/Economy Page Guyana 200 Haiti 202

/Economy Page Norway 296 Oman 298 Pakistan 300 Panama 302 Paraguay 304 Peru 306 Philippines 308 Poland 310 Portugal 312 Puerto rico 314 Qatar

Country/Economy Profiles 104 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

90.3.5 Macroeconomic environment...122.3.8 Health and primary education...62.5.8 Efficiency enhancers (50.0%).95.3.7 Higher education and training...

0. 9 Inflation...0. 6 Foreign currency regulations...0. 3 Insufficient capacity to innovate...0. 3 Government instability/coups...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 9...128 8. 05 Venture capital availability...1. 9...128 8. 06 Soundness of banks...

4. 3...95 1. 16 Reliability of police services...3. 7...96 1. 17 Ethical behavior of firms...

4. 4...84 1. 20 Protection of minority shareholders'interests...3. 8...93 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 2...123 3. 02 Gross national savings,%GDP*..

*15.2.105 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..

4. 1...46 5. 04 Quality of math and science education...4. 3...64 5. 05 Quality of management schools...

and training services...3. 8...91 5. 08 Extent of staff training...4. 4...32 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 5...142 6. 02 Extent of market dominance...

3. 6...83 6. 05 Total tax rate,%profits*..*31.7.45 Albania 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 106 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 4, 000

5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education

106.3.1 Macroeconomic environment...11.6.4 Health and primary education...81.5.6 Efficiency enhancers (35.7%).125.3.3 Higher education and training...

4. 3 Inflation...3. 2 Government instability/coups...2. 9 Insufficient capacity to innovate...2. 2 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...72 8. 05 Venture capital availability...2. 2...108 8. 06 Soundness of banks...

4. 3...94 1. 16 Reliability of police services...4. 1...74 1. 17 Ethical behavior of firms...

3. 5...137 1. 20 Protection of minority shareholders'interests...3. 5...113 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...20 3. 02 Gross national savings,%GDP*..

*51.1.4 3. 03 Inflation, annual%change*..*3. 3...66 3. 04 General government debt,%GDP*..

3. 0...114 5. 04 Quality of math and science education...3. 2...113 5. 05 Quality of management schools...

and training services...3. 1...126 5. 08 Extent of staff training...3. 4...118 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 8...136 6. 02 Extent of market dominance...

3. 5...86 6. 05 Total tax rate,%profits*..*71.9.137 Algeria 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 108 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

139.2.0 Macroeconomic environment...71.4.7 Health and primary education...136.3.5 Efficiency enhancers (35.6%).140.2.8 Higher education and training...

2. 4 Inflation...1. 0 Government instability/coups...0. 9 Insufficient capacity to innovate...0. 9 Policy instability...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...122 8. 05 Venture capital availability...2. 3...98 8. 06 Soundness of banks...

3. 5...128 1. 16 Reliability of police services...2. 8...129 1. 17 Ethical behavior of firms...

2. 7...143 1. 20 Protection of minority shareholders'interests...2. 5...142 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 5...42 3. 02 Gross national savings,%GDP*..

*18.2.80 3. 03 Inflation, annual%change*..*8. 8...130 3. 04 General government debt,%GDP*..

2. 1...142 5. 04 Quality of math and science education...1. 9...143 5. 05 Quality of management schools...

and training services...2. 5...144 5. 08 Extent of staff training...2. 8...141 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...2. 6...144 6. 02 Extent of market dominance...

3. 5...89 6. 05 Total tax rate,%profits*..*52.1.120 Angola 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 110 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

89.3.5 Macroeconomic environment...102.4.2 Health and primary education...67.5.8 Efficiency enhancers (50.0%).93.3.8 Higher education and training...

97.3.0 The most problematic factors for doing business Inflation...19.1 Foreign currency regulations...16.6 Access to financing...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 7...134 8. 05 Venture capital availability...1. 8...138 8. 06 Soundness of banks...

4. 1...109 1. 16 Reliability of police services...2. 7...133 1. 17 Ethical behavior of firms...

4. 1...105 1. 20 Protection of minority shareholders'interests...3. 5...115 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 5...83 3. 02 Gross national savings,%GDP*..

*21.4.59 3. 03 Inflation, annual%change*..*10.6.138 3. 04 General government debt,%GDP*..*46.9.81 3. 05 Country credit rating, 0 100 (best*..

3. 0...113 5. 04 Quality of math and science education...3. 2...112 5. 05 Quality of management schools...

and training services...4. 2...65 5. 08 Extent of staff training...3. 7...95 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 1...132 6. 02 Extent of market dominance...

2. 0...144 6. 05 Total tax rate,%profits*..*107.8.143 Argentina 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 112 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

78.3.8 Macroeconomic environment...77.4.6 Health and primary education...99.5.3 Efficiency enhancers (50.0%).87.3.8 Higher education and training...

5. 0 Inflation...3. 3 Restrictive labor regulations...2. 9 Policy instability...2. 7 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...97 8. 05 Venture capital availability...2. 4...96 8. 06 Soundness of banks...

5. 1...57 1. 16 Reliability of police services...4. 0...81 1. 17 Ethical behavior of firms...

4. 2...104 1. 20 Protection of minority shareholders'interests...3. 7...97 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 5...64 3. 02 Gross national savings,%GDP*..

*15.5.103 3. 03 Inflation, annual%change*..*5. 8...104 3. 04 General government debt,%GDP*..

3. 5...86 5. 04 Quality of math and science education...4. 2...69 5. 05 Quality of management schools...

and training services...3. 3...120 5. 08 Extent of staff training...3. 4...119 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...85 6. 02 Extent of market dominance...

3. 3...105 6. 05 Total tax rate,%profits*..*38.8.73 Armenia 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 114 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

20.5.6 Macroeconomic environment...30.5.6 Health and primary education...17.6.5 Efficiency enhancers (50.0%).15.5.2 Higher education and training...

1. 5 Inflation...1. 1 Government instability/coups...0. 5 Corruption...0. 1 Crime and theft...

0. 0 Australia Australia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Australia Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 3...38 8. 05 Venture capital availability...3. 4...29 8. 06 Soundness of banks...

5. 9...23 1. 16 Reliability of police services...6. 1...14 1. 17 Ethical behavior of firms...

5. 7...8 1. 20 Protection of minority shareholders'interests...5. 0...21 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 7...86 3. 02 Gross national savings,%GDP*..

*24.7.42 3. 03 Inflation, annual%change*..*2. 5...1 3. 04 General government debt,%GDP*..

4. 8...19 5. 04 Quality of math and science education...4. 6...38 5. 05 Quality of management schools...

and training services...5. 2...23 5. 08 Extent of staff training...4. 5...30 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 0...8 6. 02 Extent of market dominance...

3. 7...74 6. 05 Total tax rate,%profits*..*47.0.104 Australia 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 116 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

13.5.8 Macroeconomic environment...33.5.5 Health and primary education...19.6.4 Efficiency enhancers (50.0%).23.5.0 Higher education and training...

0. 9 Inflation...0. 9 Crime and theft...0. 5 Foreign currency regulations...0. 5 Government instability/coups...

0. 5 Austria Austria Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Austria Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...66 8. 05 Venture capital availability...2. 7...70 8. 06 Soundness of banks...

6. 5...8 1. 16 Reliability of police services...5. 9...18 1. 17 Ethical behavior of firms...

5. 2...27 1. 20 Protection of minority shareholders'interests...4. 8...31 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 8...48 3. 02 Gross national savings,%GDP*..

*24.6.43 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..

4. 5...31 5. 04 Quality of math and science education...4. 6...37 5. 05 Quality of management schools...

and training services...5. 9...5 5. 08 Extent of staff training...4. 8...19 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 8...15 6. 02 Extent of market dominance...

3. 6...75 6. 05 Total tax rate,%profits*..*52.4.121 Austria 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 118 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

70.4.1 Macroeconomic environment...9...6. 4 Health and primary education...104.5.2 Efficiency enhancers (37.8%).71.4.1 Higher education and training...

2. 2 Inflation...2. 0 Poor public health...1. 8 Crime and theft...1. 2 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...79 8. 05 Venture capital availability...2. 7...64 8. 06 Soundness of banks...

5. 5...40 1. 16 Reliability of police services...4. 1...71 1. 17 Ethical behavior of firms...

4. 4...82 1. 20 Protection of minority shareholders'interests...3. 9...88 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 8...15 3. 02 Gross national savings,%GDP*..

*43.4.9 3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..

3. 1...104 5. 04 Quality of math and science education...3. 3...108 5. 05 Quality of management schools...

and training services...4. 0...79 5. 08 Extent of staff training...3. 7...94 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 3...121 6. 02 Extent of market dominance...

3. 6...82 6. 05 Total tax rate,%profits*..*40.0.77 Azerbaijan 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 120 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

31.5.2 Macroeconomic environment...47.5.2 Health and primary education...40.6.2 Efficiency enhancers (50.0%).40.4.5 Higher education and training...

0. 8 Inflation...0. 3 Tax regulations...0. 3 Foreign currency regulations...0. 2 Tax rates...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 2...8 8. 05 Venture capital availability...3. 6...18 8. 06 Soundness of banks...

6. 3...14 1. 16 Reliability of police services...5. 0...36 1. 17 Ethical behavior of firms...

4. 9...45 1. 20 Protection of minority shareholders'interests...5. 1...19 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 4...98 3. 02 Gross national savings,%GDP*..

*28.4.29 3. 03 Inflation, annual%change*..*3. 3...67 3. 04 General government debt,%GDP*..

4. 3...38 5. 04 Quality of math and science education...4. 3...58 5. 05 Quality of management schools...

and training services...4. 5...42 5. 08 Extent of staff training...4. 5...29 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...46 6. 02 Extent of market dominance...

6. 5...1 6. 05 Total tax rate,%profits*..*13.5.5 Bahrain 2014 World Economic Forum 2. 1:

Country/Economy Profiles 122 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

127.2.4 Macroeconomic environment...72.4.7 Health and primary education...102.5.3 Efficiency enhancers (35.0%).103.3.6 Higher education and training...

2. 9 Inflation...2. 7 Foreign currency regulations...2. 5 Tax rates...2. 5 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...103 8. 05 Venture capital availability...2. 1...119 8. 06 Soundness of banks...

4. 3...97 1. 16 Reliability of police services...2. 6...138 1. 17 Ethical behavior of firms...

3. 8...132 1. 20 Protection of minority shareholders'interests...3. 0...133 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 0...90 3. 02 Gross national savings,%GDP*..

*28.2.31 3. 03 Inflation, annual%change*..*7. 5...123 3. 04 General government debt,%GDP*..

3. 3...95 5. 04 Quality of math and science education...3. 4...106 5. 05 Quality of management schools...

and training services...3. 1...129 5. 08 Extent of staff training...3. 2...131 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...79 6. 02 Extent of market dominance...

3. 5...92 6. 05 Total tax rate,%profits*..*35.0.58 Bangladesh 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 124 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 25,000 30,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market

28.5.3 Macroeconomic environment...132.3.4 Health and primary education...16.6.5 Efficiency enhancers (50.0%).54.4.3 Higher education and training...

7. 4 Inflation...6. 2 Foreign currency regulations...5. 8 Insufficient capacity to innovate...5. 7 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...101 8. 05 Venture capital availability...2. 3...101 8. 06 Soundness of banks...

6. 1...15 1. 16 Reliability of police services...5. 6...25 1. 17 Ethical behavior of firms...

4. 9...42 1. 20 Protection of minority shareholders'interests...4. 4...51 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*10.3.140 3. 02 Gross national savings,%GDP*..

*2. 4...136 3. 03 Inflation, annual%change*..*2. 3...1 3. 04 General government debt,%GDP*..

5. 0...15 5. 04 Quality of math and science education...5. 5...7 5. 05 Quality of management schools...

and training services...4. 7...37 5. 08 Extent of staff training...4. 4...39 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...28 6. 02 Extent of market dominance...

3. 7...73 6. 05 Total tax rate,%profits*..*40.8.83 Barbados 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 126 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

18.5.6 Macroeconomic environment...70.4.7 Health and primary education...2...6. 7 Efficiency enhancers (50.0%).18.5.1 Higher education and training...

1. 6 Inflation...1. 5 Inadequately educated workforce...1. 4 Crime and theft...0. 4 Government instability/coups...

0. 1 Belgium Belgium Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Belgium Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 3...35 8. 05 Venture capital availability...3. 3...33 8. 06 Soundness of banks...

6. 1...18 1. 16 Reliability of police services...5. 7...23 1. 17 Ethical behavior of firms...

5. 5...13 1. 20 Protection of minority shareholders'interests...4. 9...24 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 8...69 3. 02 Gross national savings,%GDP*..

*18.2.81 3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..

5. 3...6 5. 04 Quality of math and science education...6. 0...3 5. 05 Quality of management schools...

and training services...6. 0...4 5. 08 Extent of staff training...5. 1...9 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 0...6 6. 02 Extent of market dominance...

3. 1...126 6. 05 Total tax rate,%profits*..*57.5.126 Belgium 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 128 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2

Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication

92.3.5 Macroeconomic environment...119.3.9 Health and primary education...89.5.5 Efficiency enhancers (45.0%).123.3.3 Higher education and training...

4. 0 Inflation...3. 9 Tax regulations...1. 5 Government instability/coups...0. 8 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...98 8. 05 Venture capital availability...2. 3...104 8. 06 Soundness of banks...

6. 1...16 1. 16 Reliability of police services...4. 9...39 1. 17 Ethical behavior of firms...

4. 8...51 1. 20 Protection of minority shareholders'interests...4. 2...66 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 0...92 3. 02 Gross national savings,%GDP*..

*31.7.20 3. 03 Inflation, annual%change*..*8. 7...129 3. 04 General government debt,%GDP*..

4. 0...51 5. 04 Quality of math and science education...3. 9...84 5. 05 Quality of management schools...

and training services...3. 1...127 5. 08 Extent of staff training...3. 6...109 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...106 6. 02 Extent of market dominance...

4. 0...46 6. 05 Total tax rate,%profits*..*40.8.83 Bhutan 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 130 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

109.3.0 Macroeconomic environment...35.5.5 Health and primary education...109.4.9 Efficiency enhancers (45.5%).116.3.4 Higher education and training...

1. 0 Inflation...0. 9 Crime and theft...0. 8 Poor public health...0. 1 Bolivia Bolivia Latin america and the Caribbean Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...24 8. 05 Venture capital availability...3. 4...30 8. 06 Soundness of banks...

3. 7...123 1. 16 Reliability of police services...3. 5...109 1. 17 Ethical behavior of firms...

4. 1...113 1. 20 Protection of minority shareholders'interests...3. 7...96 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...19 3. 02 Gross national savings,%GDP*..

*25.5.39 3. 03 Inflation, annual%change*..*5. 7...101 3. 04 General government debt,%GDP*..

3. 3...93 5. 04 Quality of math and science education...3. 1...116 5. 05 Quality of management schools...

and training services...3. 7...97 5. 08 Extent of staff training...3. 5...115 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 8...139 6. 02 Extent of market dominance...

3. 6...77 6. 05 Total tax rate,%profits*..*83.4.140 Bolivia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 132 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

101.3.2 Macroeconomic environment...13.6.3 Health and primary education...127.4.1 Efficiency enhancers (42.4%).84.3.9 Higher education and training...

3. 8 Inflation...3. 0 Poor public health...2. 1 Policy instability...1. 7 Tax rates...1. 1 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...54 8. 05 Venture capital availability...2. 7...67 8. 06 Soundness of banks...

5. 6...38 1. 16 Reliability of police services...4. 3...63 1. 17 Ethical behavior of firms...

4. 8...57 1. 20 Protection of minority shareholders'interests...4. 6...43 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 2...18 3. 02 Gross national savings,%GDP*..

*38.7.12 3. 03 Inflation, annual%change*..*5. 8...103 3. 04 General government debt,%GDP*..

3. 5...82 5. 04 Quality of math and science education...3. 6...96 5. 05 Quality of management schools...

and training services...3. 4...114 5. 08 Extent of staff training...4. 0...68 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...95 6. 02 Extent of market dominance...

4. 7...14 6. 05 Total tax rate,%profits*..*25.4.22 Botswana 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 134 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

76.4.0 Macroeconomic environment...85.4.5 Health and primary education...77.5.7 Efficiency enhancers (50.0%).42.4.5 Higher education and training...

2. 4 Inflation...1. 4 Insufficient capacity to innovate...1. 1 Crime and theft...0. 8 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...85 8. 05 Venture capital availability...2. 6...80 8. 06 Soundness of banks...

3. 9...119 1. 16 Reliability of police services...3. 9...83 1. 17 Ethical behavior of firms...

4. 8...56 1. 20 Protection of minority shareholders'interests...4. 7...35 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 3...81 3. 02 Gross national savings,%GDP*..

*14.7.110 3. 03 Inflation, annual%change*..*6. 2...110 3. 04 General government debt,%GDP*..

2. 7...126 5. 04 Quality of math and science education...2. 6...131 5. 05 Quality of management schools...

and training services...4. 5...47 5. 08 Extent of staff training...4. 3...44 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...52 6. 02 Extent of market dominance...

2. 4...139 6. 05 Total tax rate,%profits*..*68.3.136 Brazil 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 136 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

74.4.1 Macroeconomic environment...36.5.4 Health and primary education...51.6.0 Efficiency enhancers (50.0%).52.4.3 Higher education and training...

3. 6 Inflation...3. 6 Insufficient capacity to innovate...2. 4 Crime and theft...1. 6 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...53 8. 05 Venture capital availability...2. 6...79 8. 06 Soundness of banks...

4. 0...117 1. 16 Reliability of police services...3. 3...112 1. 17 Ethical behavior of firms...

4. 1...106 1. 20 Protection of minority shareholders'interests...3. 9...83 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 9...49 3. 02 Gross national savings,%GDP*..

*23.0.50 3. 03 Inflation, annual%change*..*0. 4...60 3. 04 General government debt,%GDP*..

3. 4...91 5. 04 Quality of math and science education...4. 3...54 5. 05 Quality of management schools...

and training services...3. 4...111 5. 08 Extent of staff training...3. 3...127 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 0...75 6. 02 Extent of market dominance...

3. 6...81 6. 05 Total tax rate,%profits*..*27.7.28 Bulgaria 2014 World Economic Forum 2. 1:

Country/Economy Profiles 138 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

141.2.0 Macroeconomic environment...83.4.5 Health and primary education...141.3.2 Efficiency enhancers (35.0%).132.3.2 Higher education and training...

2. 8 Inflation...2. 2 Foreign currency regulations...1. 2 Restrictive labor regulations...1. 2 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 6...138 8. 05 Venture capital availability...1. 5...144 8. 06 Soundness of banks...

4. 6...84 1. 16 Reliability of police services...4. 0...77 1. 17 Ethical behavior of firms...

4. 6...65 1. 20 Protection of minority shareholders'interests...3. 6...102 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...76 3. 02 Gross national savings,%GDP*..

*15.4.104 3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..

2. 9...120 5. 04 Quality of math and science education...3. 8...88 5. 05 Quality of management schools...

and training services...3. 5...105 5. 08 Extent of staff training...2. 8...140 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...110 6. 02 Extent of market dominance...

3. 1...119 6. 05 Total tax rate,%profits*..*43.9.95 Burkina faso 2014 World Economic Forum 2. 1:

Country/Economy Profiles 140 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

140.2.0 Macroeconomic environment...112.4.0 Health and primary education...114.4.6 Efficiency enhancers (35.0%).144.2.6 Higher education and training...

14.3 Inflation...10.0 Tax rates...7. 6 Inadequate supply of infrastructure...3. 9 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 8...131 8. 05 Venture capital availability...1. 9...129 8. 06 Soundness of banks...

3. 8...122 1. 16 Reliability of police services...2. 2...142 1. 17 Ethical behavior of firms...

4. 3...91 1. 20 Protection of minority shareholders'interests...3. 1...131 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 9...52 3. 02 Gross national savings,%GDP*..

*3. 2...142 3. 03 Inflation, annual%change*..*8. 8...131 3. 04 General government debt,%GDP*..

2. 6...133 5. 04 Quality of math and science education...3. 5...100 5. 05 Quality of management schools...

and training services...2. 8...138 5. 08 Extent of staff training...2. 9...137 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 9...134 6. 02 Extent of market dominance...

2. 6...138 6. 05 Total tax rate,%profits*..*51.6.118 Burundi 2014 World Economic Forum 2. 1:

Country/Economy Profiles 142 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

107.3.1 Macroeconomic environment...80.4.6 Health and primary education...91.5.4 Efficiency enhancers (35.0%).100.3.6 Higher education and training...

2. 1 Inflation...1. 6 Cambodia Cambodia Emerging and Developing Asia Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3 Stage of development Cambodia

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...80 8. 05 Venture capital availability...2. 7...60 8. 06 Soundness of banks...

4. 5...86 1. 16 Reliability of police services...2. 9...123 1. 17 Ethical behavior of firms...

4. 2...97 1. 20 Protection of minority shareholders'interests...3. 6...100 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...72 3. 02 Gross national savings,%GDP*..

*14.9.107 3. 03 Inflation, annual%change*..*3. 0...58 3. 04 General government debt,%GDP*..

3. 2...101 5. 04 Quality of math and science education...3. 2...111 5. 05 Quality of management schools...

and training services...3. 6...104 5. 08 Extent of staff training...3. 9...82 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...86 6. 02 Extent of market dominance...

4. 1...35 6. 05 Total tax rate,%profits*..*21.4.14 Cambodia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 144 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

126.2.5 Macroeconomic environment...90.4.4 Health and primary education...112.4.7 Efficiency enhancers (35.0%).113.3.5 Higher education and training...

3. 3 Inflation...3. 3 Policy instability...1. 9 Poor public health...1. 6 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...92 8. 05 Venture capital availability...2. 3...102 8. 06 Soundness of banks...

4. 6...79 1. 16 Reliability of police services...4. 3...62 1. 17 Ethical behavior of firms...

4. 8...54 1. 20 Protection of minority shareholders'interests...3. 9...86 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 2...95 3. 02 Gross national savings,%GDP*..

*16.2.96 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..

3. 8...62 5. 04 Quality of math and science education...4. 3...65 5. 05 Quality of management schools...

and training services...4. 0...77 5. 08 Extent of staff training...4. 0...69 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...109 6. 02 Extent of market dominance...

3. 4...98 6. 05 Total tax rate,%profits*..*48.8.108 Cameroon 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 146 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

15.5.7 Macroeconomic environment...51.5.1 Health and primary education...7...6. 6 Efficiency enhancers (50.0%).6...5. 4 Higher education and training...

3. 5 Inflation...0. 9 Government instability/coups...0. 8 Corruption...0. 7 Foreign currency regulations...

0. 0 Canada Canada Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Canada Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 8...18 8. 05 Venture capital availability...3. 6...17 8. 06 Soundness of banks...

5. 3...50 1. 16 Reliability of police services...6. 1...11 1. 17 Ethical behavior of firms...

5. 6...9 1. 20 Protection of minority shareholders'interests...5. 4...11 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...74 3. 02 Gross national savings,%GDP*..

*21.1.61 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..

5. 2...11 5. 04 Quality of math and science education...5. 1...19 5. 05 Quality of management schools...

and training services...5. 3...20 5. 08 Extent of staff training...4. 7...22 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...33 6. 02 Extent of market dominance...

4. 4...24 6. 05 Total tax rate,%profits*..*24.3.20 Canada 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 148 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000

3, 000 4, 000 5, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

104.3.1 Macroeconomic environment...106.4.1 Health and primary education...57.6.0 Efficiency enhancers (50.0%).127.3.3 Higher education and training...

3. 0 Inflation...3. 0 Poor public health...1. 7 Policy instability...1. 4 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...100 8. 05 Venture capital availability...2. 5...91 8. 06 Soundness of banks...

4. 3...100 1. 16 Reliability of police services...4. 4...56 1. 17 Ethical behavior of firms...

4. 1...107 1. 20 Protection of minority shareholders'interests...3. 7...98 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 7...133 3. 02 Gross national savings,%GDP*..

*34.6.16 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..

3. 9...57 5. 04 Quality of math and science education...3. 9...86 5. 05 Quality of management schools...

and training services...3. 5...108 5. 08 Extent of staff training...3. 7...104 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 5...117 6. 02 Extent of market dominance...

3. 2...116 6. 05 Total tax rate,%profits*..*37.2.70 Cape verde 2014 World Economic Forum 2. 1:

Country/Economy Profiles 150 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

144.1.7 Macroeconomic environment...73.4.7 Health and primary education...144.2.7 Efficiency enhancers (35.0%).142.2.7 Higher education and training...

1. 3 Inflation...1. 2 Chad Chad Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 1...124 8. 05 Venture capital availability...1. 9...136 8. 06 Soundness of banks...

3. 5...131 1. 16 Reliability of police services...2. 6...134 1. 17 Ethical behavior of firms...

3. 5...139 1. 20 Protection of minority shareholders'interests...2. 8...140 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 4...61 3. 02 Gross national savings,%GDP*..

*18.3.79 3. 03 Inflation, annual%change*..*0. 2...65 3. 04 General government debt,%GDP*..

2. 5...135 5. 04 Quality of math and science education...2. 8...127 5. 05 Quality of management schools...

and training services...2. 7...142 5. 08 Extent of staff training...2. 8...139 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 8...137 6. 02 Extent of market dominance...

2. 4...140 6. 05 Total tax rate,%profits*..*73.8.138 Chad 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 152 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

49.4.6 Macroeconomic environment...22.5.9 Health and primary education...70.5.7 Efficiency enhancers (50.0%).29.4.7 Higher education and training...

0. 9 Inflation...0. 5 Foreign currency regulations...0. 3 Government instability/coups...0. 3 Chile Chile Latin america and the Caribbean Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 7...20 8. 05 Venture capital availability...3. 3...32 8. 06 Soundness of banks...

5. 5...45 1. 16 Reliability of police services...6. 3...4 1. 17 Ethical behavior of firms...

5. 2...28 1. 20 Protection of minority shareholders'interests...4. 6...42 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 7...32 3. 02 Gross national savings,%GDP*..

*20.5.65 3. 03 Inflation, annual%change*..*1. 8...1 3. 04 General government debt,%GDP*..

3. 7...71 5. 04 Quality of math and science education...3. 5...99 5. 05 Quality of management schools...

and training services...4. 5...46 5. 08 Extent of staff training...4. 2...52 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...27 6. 02 Extent of market dominance...

4. 2...31 6. 05 Total tax rate,%profits*..*27.7.28 Chile 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 154 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4

, 000 6, 000 8, 000 10,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

46.4.7 Macroeconomic environment...10.6.4 Health and primary education...46.6.1 Efficiency enhancers (50.0%).30.4.7 Higher education and training...

6. 6 Inflation...6. 4 Policy instability...6. 3 Tax rates...6. 0 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 7...21 8. 05 Venture capital availability...3. 9...13 8. 06 Soundness of banks...

4. 7...70 1. 16 Reliability of police services...4. 3...61 1. 17 Ethical behavior of firms...

4. 5...78 1. 20 Protection of minority shareholders'interests...4. 1...67 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 9...50 3. 02 Gross national savings,%GDP*..

*50.0.5 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..

4. 0...52 5. 04 Quality of math and science education...4. 3...56 5. 05 Quality of management schools...

and training services...4. 4...58 5. 08 Extent of staff training...4. 3...46 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...44 6. 02 Extent of market dominance...

4. 0...44 6. 05 Total tax rate,%profits*..*63.7.131 China 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 156 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

84.3.7 Macroeconomic environment...29.5.6 Health and primary education...105.5.2 Efficiency enhancers (50.0%).63.4.2 Higher education and training...

1. 4 Inflation...1. 3 Foreign currency regulations...0. 7 Colombia Colombia Latin america and the Caribbean Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...77 8. 05 Venture capital availability...2. 6...82 8. 06 Soundness of banks...

2. 8...139 1. 16 Reliability of police services...4. 0...78 1. 17 Ethical behavior of firms...

5. 0...40 1. 20 Protection of minority shareholders'interests...4. 1...68 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 0...37 3. 02 Gross national savings,%GDP*..

*20.9.62 3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..

3. 4...90 5. 04 Quality of math and science education...3. 3...109 5. 05 Quality of management schools...

and training services...4. 1...71 5. 08 Extent of staff training...3. 9...83 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...56 6. 02 Extent of market dominance...

3. 0...127 6. 05 Total tax rate,%profits*..*76.0.139 Colombia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 158 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

73.4.1 Macroeconomic environment...93.4.4 Health and primary education...48.6.1 Efficiency enhancers (50.0%).56.4.3 Higher education and training...

2. 2 Inflation...1. 8 Policy instability...1. 5 Crime and theft...1. 1 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...118 8. 05 Venture capital availability...2. 2...111 8. 06 Soundness of banks...

5. 2...53 1. 16 Reliability of police services...5. 0...38 1. 17 Ethical behavior of firms...

5. 0...41 1. 20 Protection of minority shareholders'interests...4. 7...33 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 6...116 3. 02 Gross national savings,%GDP*..

*16.3.95 3. 03 Inflation, annual%change*..*5. 2...94 3. 04 General government debt,%GDP*..

4. 7...21 5. 04 Quality of math and science education...4. 4...47 5. 05 Quality of management schools...

and training services...4. 9...28 5. 08 Extent of staff training...4. 7...21 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...59 6. 02 Extent of market dominance...

3. 8...68 6. 05 Total tax rate,%profits*..*55.3.125 Costa rica 2014 World Economic Forum 2. 1:

Country/Economy Profiles 160 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

93.3.4 Macroeconomic environment...68.4.7 Health and primary education...140.3.2 Efficiency enhancers (35.0%).108.3.6 Higher education and training...

0. 3 Inflation...0. 2 Tax regulations...0. 1 Poor public health...0. 0 Restrictive labor regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 1...44 8. 05 Venture capital availability...2. 8...55 8. 06 Soundness of banks...

4. 2...104 1. 16 Reliability of police services...3. 8...92 1. 17 Ethical behavior of firms...

4. 5...72 1. 20 Protection of minority shareholders'interests...4. 3...65 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 5...63 3. 02 Gross national savings,%GDP*..

*16.0.99 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..

3. 6...80 5. 04 Quality of math and science education...5. 1...22 5. 05 Quality of management schools...

and training services...4. 3...62 5. 08 Extent of staff training...4. 0...70 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...112 6. 02 Extent of market dominance...

3. 4...100 6. 05 Total tax rate,%profits*..*46.4.103 Côte d'ivoire 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 162 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

44.4.7 Macroeconomic environment...91.4.4 Health and primary education...60.5.9 Efficiency enhancers (50.0%).68.4.1 Higher education and training...

0. 6 Inflation...0. 2 Croatia Croatia Emerging and Developing Europe Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3 Stage of development Croatia

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...106 8. 05 Venture capital availability...2. 2...114 8. 06 Soundness of banks...

5. 4...49 1. 16 Reliability of police services...4. 4...55 1. 17 Ethical behavior of firms...

4. 2...96 1. 20 Protection of minority shareholders'interests...3. 6...105 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 5...114 3. 02 Gross national savings,%GDP*..

*19.5.71 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..

3. 2...97 5. 04 Quality of math and science education...4. 9...26 5. 05 Quality of management schools...

and training services...4. 1...70 5. 08 Extent of staff training...3. 2...129 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...83 6. 02 Extent of market dominance...

2. 1...142 6. 05 Total tax rate,%profits*..*19.8.11 Croatia 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 164 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

45.4.7 Macroeconomic environment...134.3.3 Health and primary education...9...6. 5 Efficiency enhancers (50.0%).57.4.3 Higher education and training...

3. 6 Inflation...3. 3 Policy instability...2. 9 Crime and theft...2. 7 Tax regulations...

0. 5 Cyprus Cyprus Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Cyprus Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...109 8. 05 Venture capital availability...2. 7...75 8. 06 Soundness of banks...

5. 7...30 1. 16 Reliability of police services...4. 7...44 1. 17 Ethical behavior of firms...

4. 3...90 1. 20 Protection of minority shareholders'interests...4. 3...61 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 7...105 3. 02 Gross national savings,%GDP*..

*10.0.128 3. 03 Inflation, annual%change*..*0. 4...61 3. 04 General government debt,%GDP*..

5. 2...13 5. 04 Quality of math and science education...5. 4...10 5. 05 Quality of management schools...

and training services...4. 7...34 5. 08 Extent of staff training...4. 3...43 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...37 6. 02 Extent of market dominance...

4. 4...21 6. 05 Total tax rate,%profits*..*22.5.17 Cyprus 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 166 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

41.4.7 Macroeconomic environment...40.5.4 Health and primary education...37.6.2 Efficiency enhancers (50.0%).34.4.6 Higher education and training...

0. 4 Inflation...0. 0 Czech republic Czech republic Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Czech republic Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 167 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*9...106 6. 07 No. days to start a business*..

3. 3...36 8. 05 Venture capital availability...3. 1...42 8. 06 Soundness of banks...

5. 0...59 1. 16 Reliability of police services...4. 1...75 1. 17 Ethical behavior of firms...

4. 6...68 1. 20 Protection of minority shareholders'interests...4. 1...71 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 9...70 3. 02 Gross national savings,%GDP*..

*21.3.60 3. 03 Inflation, annual%change*..*1. 4...1 3. 04 General government debt,%GDP*..

3. 6...77 5. 04 Quality of math and science education...4. 1...74 5. 05 Quality of management schools...

and training services...4. 9...27 5. 08 Extent of staff training...4. 1...55 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 7...17 6. 02 Extent of market dominance...

3. 3...107 6. 05 Total tax rate,%profits*..*48.1.106 Czech republic 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 168 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

21.5.6 Macroeconomic environment...16.6.1 Health and primary education...25.6.4 Efficiency enhancers (50.0%).17.5.1 Higher education and training...

0. 6 Inflation...0. 5 Foreign currency regulations...0. 3 Poor public health...0. 3 Government instability/coups...

0. 0 Denmark Denmark Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Denmark Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...60 8. 05 Venture capital availability...2. 5...87 8. 06 Soundness of banks...

5. 5...46 1. 16 Reliability of police services...6. 0...15 1. 17 Ethical behavior of firms...

5. 2...24 1. 20 Protection of minority shareholders'interests...4. 8...26 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 4...29 3. 02 Gross national savings,%GDP*..

*24.0.47 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..

4. 8...18 5. 04 Quality of math and science education...4. 5...42 5. 05 Quality of management schools...

and training services...5. 3...18 5. 08 Extent of staff training...4. 9...15 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...45 6. 02 Extent of market dominance...

3. 2...115 6. 05 Total tax rate,%profits*..*27.0.26 Denmark 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 170 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

98.3.3 Macroeconomic environment...94.4.4 Health and primary education...107.5.0 Efficiency enhancers (50.0%).90.3.8 Higher education and training...

10.4 Inflation...9. 0 Inadequately educated workforce...8. 9 Inefficient government bureaucracy...7. 5 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...75 8. 05 Venture capital availability...2. 6...83 8. 06 Soundness of banks...

4. 0...115 1. 16 Reliability of police services...2. 6...139 1. 17 Ethical behavior of firms...

4. 6...62 1. 20 Protection of minority shareholders'interests...4. 1...75 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 6...85 3. 02 Gross national savings,%GDP*..

*11.6.123 3. 03 Inflation, annual%change*..*4. 8...90 3. 04 General government debt,%GDP*..

2. 6...132 5. 04 Quality of math and science education...2. 1...142 5. 05 Quality of management schools...

and training services...4. 1...74 5. 08 Extent of staff training...3. 9...86 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 0...72 6. 02 Extent of market dominance...

3. 1...121 6. 05 Total tax rate,%profits*..*43.5.93 Dominican republic 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 172 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2000 3, 000 4

, 000 5, 000 6, 000 7, 000 8, 000 1990 19921994199619982,00020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education

100.3.2 Macroeconomic environment...141.3.0 Health and primary education...97.5.4 Efficiency enhancers (50.0%).106.3.6 Higher education and training...

3. 9 Inflation...3. 2 Tax regulations...3. 1 Inefficient government bureaucracy...2. 7 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 9...129 8. 05 Venture capital availability...2. 3...103 8. 06 Soundness of banks...

3. 5...127 1. 16 Reliability of police services...3. 3...111 1. 17 Ethical behavior of firms...

3. 6...136 1. 20 Protection of minority shareholders'interests...3. 5...109 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*14.1.142 3. 02 Gross national savings,%GDP*..

*12.1.122 3. 03 Inflation, annual%change*..*6. 9...118 3. 04 General government debt,%GDP*..

2. 2...141 5. 04 Quality of math and science education...2. 4...136 5. 05 Quality of management schools...

and training services...3. 2...124 5. 08 Extent of staff training...2. 8...142 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 0...133 6. 02 Extent of market dominance...

3. 6...79 6. 05 Total tax rate,%profits*..*42.6.90 Egypt 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 174 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

57.4.3 Macroeconomic environment...100.4.2 Health and primary education...80.5.6 Efficiency enhancers (50.0%).96.3.7 Higher education and training...

9. 8 Inflation...7. 5 Corruption...6. 9 Tax regulations...4. 8 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...52 8. 05 Venture capital availability...3. 0...45 8. 06 Soundness of banks...

2. 7...143 1. 16 Reliability of police services...3. 7...97 1. 17 Ethical behavior of firms...

4. 5...73 1. 20 Protection of minority shareholders'interests...3. 3...125 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 0...93 3. 02 Gross national savings,%GDP*..

*7. 4...131 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..

3. 8...63 5. 04 Quality of math and science education...3. 4...103 5. 05 Quality of management schools...

and training services...4. 5...43 5. 08 Extent of staff training...4. 0...71 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...89 6. 02 Extent of market dominance...

3. 2...118 6. 05 Total tax rate,%profits*..*38.1.72 El salvador 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 176 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

38.4.8 Macroeconomic environment...20.6.0 Health and primary education...26.6.3 Efficiency enhancers (50.0%).27.4.7 Higher education and training...

6. 6 Inflation...4. 9 Corruption...2. 0 Tax regulations...1. 8 Poor public health...1. 7 Policy instability...

0. 0 Estonia Estonia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Estonia Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 3...40 8. 05 Venture capital availability...3. 4...26 8. 06 Soundness of banks...

6. 3...12 1. 16 Reliability of police services...5. 3...32 1. 17 Ethical behavior of firms...

5. 2...25 1. 20 Protection of minority shareholders'interests...4. 4...49 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 4...28 3. 02 Gross national savings,%GDP*..

*25.4.40 3. 03 Inflation, annual%change*..*3. 5...73 3. 04 General government debt,%GDP*..

4. 4...35 5. 04 Quality of math and science education...5. 1...18 5. 05 Quality of management schools...

and training services...4. 8...29 5. 08 Extent of staff training...4. 4...36 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...29 6. 02 Extent of market dominance...

4. 9...12 6. 05 Total tax rate,%profits*..*49.4.110 Estonia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 178 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

125.2.5 Macroeconomic environment...95.4.4 Health and primary education...110.4.8 Efficiency enhancers (35.0%).120.3.4 Higher education and training...

7. 6 Inflation...7. 1 Tax rates...6. 9 Poor work ethic in national labor force...6. 0 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 1...123 8. 05 Venture capital availability...2. 2...110 8. 06 Soundness of banks...

5. 4...48 1. 16 Reliability of police services...3. 8...93 1. 17 Ethical behavior of firms...

4. 0...117 1. 20 Protection of minority shareholders'interests...3. 9...85 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 4...82 3. 02 Gross national savings,%GDP*..

*22.2.54 3. 03 Inflation, annual%change*..*8. 0...126 3. 04 General government debt,%GDP*..

3. 6...74 5. 04 Quality of math and science education...3. 6...94 5. 05 Quality of management schools...

and training services...3. 3...122 5. 08 Extent of staff training...3. 4...123 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 5...113 6. 02 Extent of market dominance...

3. 2...111 6. 05 Total tax rate,%profits*..*33.4.51 Ethiopia 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 180 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

19.5.6 Macroeconomic environment...43.5.3 Health and primary education...1...6. 9 Efficiency enhancers (50.0%).10.5.3 Higher education and training...

1. 5 Inflation...1. 0 Government instability/coups...0. 9 Foreign currency regulations...0. 7 Poor work ethic in national labor force...

0. 1 Finland Finland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Finland Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 0...12 8. 05 Venture capital availability...4. 3...8 8. 06 Soundness of banks...

6. 6...5 1. 16 Reliability of police services...6. 7...1 1. 17 Ethical behavior of firms...

6. 0...4 1. 20 Protection of minority shareholders'interests...6. 2...1 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 6...67 3. 02 Gross national savings,%GDP*..

*17.0.90 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..

5. 9...2 5. 04 Quality of math and science education...6. 3...2 5. 05 Quality of management schools...

and training services...5. 9...6 5. 08 Extent of staff training...5. 3...5 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...108 6. 02 Extent of market dominance...

3. 9...48 6. 05 Total tax rate,%profits*..*39.8.76 Finland 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 182 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

8...6. 0 Macroeconomic environment...82.4.6 Health and primary education...18.6.4 Efficiency enhancers (50.0%).19.5.1 Higher education and training...

0. 6 Inflation...0. 6 Corruption...0. 3 Crime and theft...0. 0 Poor public health...

0. 0 France France Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 France Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 8...17 8. 05 Venture capital availability...3. 3...35 8. 06 Soundness of banks...

4. 9...62 1. 16 Reliability of police services...5. 3...30 1. 17 Ethical behavior of firms...

5. 2...22 1. 20 Protection of minority shareholders'interests...4. 4...55 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 2...96 3. 02 Gross national savings,%GDP*..

*17.7.85 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..

4. 4...34 5. 04 Quality of math and science education...5. 2...17 5. 05 Quality of management schools...

and training services...5. 3...21 5. 08 Extent of staff training...4. 5...31 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...31 6. 02 Extent of market dominance...

2. 8...135 6. 05 Total tax rate,%profits*..*64.7.132 France 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 184 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

114.2.9 Macroeconomic environment...18.6.0 Health and primary education...130.4.0 Efficiency enhancers (41.4%).119.3.4 Higher education and training...

4. 1 Inflation...2. 7 Foreign currency regulations...2. 3 Tax rates...1. 4 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...83 8. 05 Venture capital availability...2. 0...123 8. 06 Soundness of banks...

4. 6...81 1. 16 Reliability of police services...3. 5...107 1. 17 Ethical behavior of firms...

4. 9...44 1. 20 Protection of minority shareholders'interests...4. 1...70 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 7...45 3. 02 Gross national savings,%GDP*..

*41.3.10 3. 03 Inflation, annual%change*..*0. 5...56 3. 04 General government debt,%GDP*..

2. 9...119 5. 04 Quality of math and science education...3. 3...110 5. 05 Quality of management schools...

and training services...3. 0...134 5. 08 Extent of staff training...3. 7...100 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 3...124 6. 02 Extent of market dominance...

3. 9...58 6. 05 Total tax rate,%profits*..*43.5.93 Gabon 2014 World Economic Forum 2. 1:

Country/Economy Profiles 186 The Global Competitiveness Report 2014 2015 Percent of responses Rank Score out of 144)( 1 7) Note:

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

95.3.3 Macroeconomic environment...142.3.0 Health and primary education...133.3.9 Efficiency enhancers (35.0%).117.3.4 Higher education and training...

11.1 Inflation...9. 1 Inadequate supply of infrastructure...7. 3 Insufficient capacity to innovate...5. 3 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...95 8. 05 Venture capital availability...2. 4...93 8. 06 Soundness of banks...

5. 7...32 1. 16 Reliability of police services...4. 6...49 1. 17 Ethical behavior of firms...

4. 9...46 1. 20 Protection of minority shareholders'interests...4. 4...48 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*8. 2...135 3. 02 Gross national savings,%GDP*..

*1. 8...137 3. 03 Inflation, annual%change*..*5. 2...95 3. 04 General government debt,%GDP*..

4. 3...39 5. 04 Quality of math and science education...3. 6...97 5. 05 Quality of management schools...

and training services...4. 0...78 5. 08 Extent of staff training...4. 3...42 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...87 6. 02 Extent of market dominance...

3. 3...104 6. 05 Total tax rate,%profits*..*283.2.144 Gambia, The 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 188 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

59.4.3 Macroeconomic environment...48.5.1 Health and primary education...63.5.8 Efficiency enhancers (50.0%).79.3.9 Higher education and training...

2. 7 Inflation...2. 3 Foreign currency regulations...1. 8 Corruption...0. 1 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...110 8. 05 Venture capital availability...2. 1...118 8. 06 Soundness of banks...

5. 8...27 1. 16 Reliability of police services...5. 4...28 1. 17 Ethical behavior of firms...

4. 2...101 1. 20 Protection of minority shareholders'interests...3. 5...110 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 3...40 3. 02 Gross national savings,%GDP*..

*19.4.72 3. 03 Inflation, annual%change*..*0. 5...78 3. 04 General government debt,%GDP*..

3. 2...98 5. 04 Quality of math and science education...3. 4...105 5. 05 Quality of management schools...

and training services...3. 4...116 5. 08 Extent of staff training...3. 5...114 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...105 6. 02 Extent of market dominance...

4. 4...22 6. 05 Total tax rate,%profits*..*16.4.10 Georgia 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 190 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

7...6. 1 Macroeconomic environment...24.5.8 Health and primary education...14.6.5 Efficiency enhancers (50.0%).9...5. 3 Higher education and training...

0. 8 Inflation...0. 8 Poor public health...0. 1 Government instability/coups...0. 1 Germany Germany Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Germany Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 191 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*9...106 6. 07 No. days to start a business*..

3. 3...34 8. 05 Venture capital availability...3. 4...28 8. 06 Soundness of banks...

5. 5...39 1. 16 Reliability of police services...5. 9...19 1. 17 Ethical behavior of firms...

5. 3...21 1. 20 Protection of minority shareholders'interests...4. 7...38 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...23 3. 02 Gross national savings,%GDP*..

*24.3.45 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..

5. 2...12 5. 04 Quality of math and science education...5. 1...20 5. 05 Quality of management schools...

and training services...6. 0...3 5. 08 Extent of staff training...5. 0...13 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 9...12 6. 02 Extent of market dominance...

4. 1...36 6. 05 Total tax rate,%profits*..*49.4.110 Germany 2014 World Economic Forum 2. 1:

Country/Economy Profiles 192 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 3, 500 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education

108.3.0 Macroeconomic environment...133.3.4 Health and primary education...121.4.5 Efficiency enhancers (35.0%).89.3.8 Higher education and training...

14.6 Inflation...10.0 Corruption...6. 2 Poor work ethic in national labor force...5. 6 Inefficient government bureaucracy...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...58 8. 05 Venture capital availability...3. 2...36 8. 06 Soundness of banks...

3. 9...118 1. 16 Reliability of police services...4. 1...72 1. 17 Ethical behavior of firms...

4. 2...100 1. 20 Protection of minority shareholders'interests...4. 0...78 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*10.8.141 3. 02 Gross national savings,%GDP*..

*20.2.67 3. 03 Inflation, annual%change*..*11.7.140 3. 04 General government debt,%GDP*..*60.1.100 3. 05 Country credit rating, 0 100 (best*..

3. 8...59 5. 04 Quality of math and science education...4. 4...52 5. 05 Quality of management schools...

and training services...3. 8...92 5. 08 Extent of staff training...4. 1...61 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 4...118 6. 02 Extent of market dominance...

4. 2...32 6. 05 Total tax rate,%profits*..*22.9.18 Ghana 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 194 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

36.4.9 Macroeconomic environment...135.3.3 Health and primary education...41.6.1 Efficiency enhancers (50.0%).65.4.1 Higher education and training...

0. 0 Inflation...0. 0 Greece Greece Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Greece Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 195 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*5...32 6. 07 No. days to start a business*..

1. 7...136 8. 05 Venture capital availability...1. 9...135 8. 06 Soundness of banks...

5. 5...42 1. 16 Reliability of police services...4. 4...58 1. 17 Ethical behavior of firms...

3. 9...124 1. 20 Protection of minority shareholders'interests...4. 3...63 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 6...66 3. 02 Gross national savings,%GDP*..

*13.7.118 3. 03 Inflation, annual%change*..*0. 9...85 3. 04 General government debt,%GDP*..

3. 0...111 5. 04 Quality of math and science education...4. 3...61 5. 05 Quality of management schools...

and training services...3. 8...90 5. 08 Extent of staff training...3. 6...112 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...71 6. 02 Extent of market dominance...

2. 4...141 6. 05 Total tax rate,%profits*..*44.0.96 Greece 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 196 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

67.4.2 Macroeconomic environment...64.4.7 Health and primary education...100.5.3 Efficiency enhancers (50.0%).76.4.0 Higher education and training...

1. 5 Inflation...0. 6 Foreign currency regulations...0. 4 Government instability/coups...0. 2 Guatemala Guatemala Latin america and the Caribbean Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 1...47 8. 05 Venture capital availability...2. 7...63 8. 06 Soundness of banks...

2. 5...144 1. 16 Reliability of police services...2. 9...124 1. 17 Ethical behavior of firms...

5. 2...26 1. 20 Protection of minority shareholders'interests...4. 0...77 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 1...53 3. 02 Gross national savings,%GDP*..

*11.5.124 3. 03 Inflation, annual%change*..*4. 3...88 3. 04 General government debt,%GDP*..

2. 7...127 5. 04 Quality of math and science education...2. 5...135 5. 05 Quality of management schools...

and training services...4. 4...54 5. 08 Extent of staff training...4. 6...28 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...42 6. 02 Extent of market dominance...

3. 9...59 6. 05 Total tax rate,%profits*..*40.9.85 Guatemala 2014 World Economic Forum 2. 1:

Country/Economy Profiles 198 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

143.1.8 Macroeconomic environment...138.3.2 Health and primary education...139.3.3 Efficiency enhancers (35.0%).138.2.9 Higher education and training...

2. 9 Inflation...2. 8 Insufficient capacity to innovate...2. 0 Government instability/coups...1. 8 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...105 8. 05 Venture capital availability...1. 9...130 8. 06 Soundness of banks...

4. 1...107 1. 16 Reliability of police services...3. 0...119 1. 17 Ethical behavior of firms...

4. 2...102 1. 20 Protection of minority shareholders'interests...3. 0...135 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 3...111 3. 02 Gross national savings,%GDP*..

*1. 0...141 3. 03 Inflation, annual%change*..*12.0.141 3. 04 General government debt,%GDP*..

2. 4...137 5. 04 Quality of math and science education...3. 1...115 5. 05 Quality of management schools...

and training services...2. 8...139 5. 08 Extent of staff training...3. 2...128 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 2...129 6. 02 Extent of market dominance...

3. 5...87 6. 05 Total tax rate,%profits*..*91.2.142 Guinea 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 200 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

110.2.9 Macroeconomic environment...118.3.9 Health and primary education...113.4.7 Efficiency enhancers (50.0%).109.3.6 Higher education and training...

1. 5 Inflation...1. 4 Insufficient capacity to innovate...0. 7 Poor public health...0. 6 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 3...37 8. 05 Venture capital availability...3. 3...34 8. 06 Soundness of banks...

4. 3...92 1. 16 Reliability of police services...2. 8...131 1. 17 Ethical behavior of firms...

4. 3...93 1. 20 Protection of minority shareholders'interests...3. 8...92 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 1...94 3. 02 Gross national savings,%GDP*..

*0. 7...139 3. 03 Inflation, annual%change*..*3. 5...70 3. 04 General government debt,%GDP*..

3. 9...54 5. 04 Quality of math and science education...4. 3...55 5. 05 Quality of management schools...

and training services...4. 0...76 5. 08 Extent of staff training...4. 0...64 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...102 6. 02 Extent of market dominance...

3. 8...63 6. 05 Total tax rate,%profits*..*32.5.48 Guyana 2014 World Economic Forum 2. 1:

Country/Economy Profiles 202 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

138.2.0 Macroeconomic environment...120.3.9 Health and primary education...126.4.2 Efficiency enhancers (35.0%).135.3.1 Higher education and training...

2. 0 Inflation...1. 4 Tax regulations...1. 4 Foreign currency regulations...0. 8 Restrictive labor regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 3...112 8. 05 Venture capital availability...2. 0...124 8. 06 Soundness of banks...

3. 9...120 1. 16 Reliability of police services...3. 0...120 1. 17 Ethical behavior of firms...

3. 8...131 1. 20 Protection of minority shareholders'interests...2. 9...136 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 7...126 3. 02 Gross national savings,%GDP*..

*23.6.49 3. 03 Inflation, annual%change*..*6. 8...116 3. 04 General government debt,%GDP*..

2. 3...138 5. 04 Quality of math and science education...2. 9...124 5. 05 Quality of management schools...

and training services...2. 7...140 5. 08 Extent of staff training...3. 2...130 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 8...140 6. 02 Extent of market dominance...

3. 6...80 6. 05 Total tax rate,%profits*..*40.4.79 Haiti 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 204 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

102.3.2 Macroeconomic environment...123.3.8 Health and primary education...85.5.5 Efficiency enhancers (39.8%).99.3.6 Higher education and training...

3. 5 Inflation...3. 2 Inadequately educated workforce...2. 7 Policy instability...2. 3 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...62 8. 05 Venture capital availability...2. 8...56 8. 06 Soundness of banks...

2. 7...142 1. 16 Reliability of police services...3. 2...115 1. 17 Ethical behavior of firms...

4. 9...43 1. 20 Protection of minority shareholders'interests...4. 0...80 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 4...131 3. 02 Gross national savings,%GDP*..

*15.7.101 3. 03 Inflation, annual%change*..*5. 2...92 3. 04 General government debt,%GDP*..

3. 2...100 5. 04 Quality of math and science education...2. 9...121 5. 05 Quality of management schools...

and training services...4. 0...80 5. 08 Extent of staff training...4. 4...38 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...88 6. 02 Extent of market dominance...

2. 9...131 6. 05 Total tax rate,%profits*..*39.2.74 Honduras 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 206 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 60,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

1...6. 7 Macroeconomic environment...14.6.2 Health and primary education...32.6.3 Efficiency enhancers (50.0%).3...5. 6 Higher education and training...

14.5 Inflation...11.7 Restrictive labor regulations...11.4 Inadequately educated workforce...9. 9 Policy instability...9. 8 Inadequate supply of infrastructure...

0. 1 Hong kong SAR Hongkong SAR Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2

2 Transition 2 3 3 Hong kong SAR Advanced economies 2014 World Economic Forum The Global Competitiveness Index in detail The Global Competitiveness Report 2014

Country/Economy Profiles Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk(*)

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.1 See the Technical Notes and Sources section.

4. 5...5 8. 05 Venture capital availability...4. 3...5 8. 06 Soundness of banks...

5. 8...25 1. 16 Reliability of police services...6. 2...6 1. 17 Ethical behavior of firms...

5. 4...20 1. 20 Protection of minority shareholders'interests...5. 5...8 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 8...16 3. 02 Gross national savings,%GDP*..

*26.7.34 3. 03 Inflation, annual%change*..*4. 3...86 3. 04 General government debt,%GDP*..

4. 8...20 5. 04 Quality of math and science education...5. 4...9 5. 05 Quality of management schools...

and training services...5. 4...16 5. 08 Extent of staff training...4. 6...26 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 1...4 6. 02 Extent of market dominance...

5. 7...6 6. 05 Total tax rate,%profits*..*22.9.18 Hong kong SAR 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1

Country/Economy Profiles 208 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 25,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

50.4.6 Macroeconomic environment...61.4.8 Health and primary education...64.5.8 Efficiency enhancers (50.0%).53.4.3 Higher education and training...

0. 8 Inflation...0. 1 Hungary Hungary Emerging and Developing Europe Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3 Stage of development Hungary

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 0...126 8. 05 Venture capital availability...2. 1...121 8. 06 Soundness of banks...

4. 9...63 1. 16 Reliability of police services...4. 1...66 1. 17 Ethical behavior of firms...

3. 9...120 1. 20 Protection of minority shareholders'interests...4. 1...72 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 4...59 3. 02 Gross national savings,%GDP*..

*20.7.63 3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..

3. 3...96 5. 04 Quality of math and science education...4. 3...60 5. 05 Quality of management schools...

and training services...3. 9...85 5. 08 Extent of staff training...3. 6...108 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...47 6. 02 Extent of market dominance...

2. 8...133 6. 05 Total tax rate,%profits*..*49.7.114 Hungary 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 210 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

23.5.5 Macroeconomic environment...92.4.4 Health and primary education...10.6.5 Efficiency enhancers (50.0%).35.4.6 Higher education and training...

16.0 Inflation...14.9 Tax rates...9. 4 Inefficient government bureaucracy...6. 9 Policy instability...5. 2 Tax regulations...

0. 0 Iceland Iceland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Iceland Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...74 8. 05 Venture capital availability...2. 8...58 8. 06 Soundness of banks...

6. 5...6 1. 16 Reliability of police services...6. 1...10 1. 17 Ethical behavior of firms...

5. 1...32 1. 20 Protection of minority shareholders'interests...4. 4...46 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 9...51 3. 02 Gross national savings,%GDP*..

*14.1.112 3. 03 Inflation, annual%change*..*3. 9...77 3. 04 General government debt,%GDP*..

4. 9...17 5. 04 Quality of math and science education...4. 7...33 5. 05 Quality of management schools...

and training services...4. 6...39 5. 08 Extent of staff training...4. 7...25 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...80 6. 02 Extent of market dominance...

3. 4...97 6. 05 Total tax rate,%profits*..*29.9.38 Iceland 2014 World Economic Forum 2. 1:

Country/Economy Profiles 212 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

87.3.6 Macroeconomic environment...101.4.2 Health and primary education...98.5.4 Efficiency enhancers (35.0%).61.4.2 Higher education and training...

4. 5 Inflation...4. 5 Insufficient capacity to innovate...3. 8 Poor public health...2. 8 India India Emerging

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...29 8. 05 Venture capital availability...3. 5...20 8. 06 Soundness of banks...

4. 0...114 1. 16 Reliability of police services...3. 8...88 1. 17 Ethical behavior of firms...

4. 3...94 1. 20 Protection of minority shareholders'interests...4. 1...76 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 3...129 3. 02 Gross national savings,%GDP*..

*32.7.18 3. 03 Inflation, annual%change*..*9. 5...133 3. 04 General government debt,%GDP*..

4. 2...45 5. 04 Quality of math and science education...4. 2...67 5. 05 Quality of management schools...

and training services...4. 2...64 5. 08 Extent of staff training...3. 9...77 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...91 6. 02 Extent of market dominance...

3. 9...49 6. 05 Total tax rate,%profits*..*62.8.130 India 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 214 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2

Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication

56.4.4 Macroeconomic environment...34.5.5 Health and primary education...74.5.7 Efficiency enhancers (50.0%).46.4.4 Higher education and training...

10.6 Inflation...9. 5 Inefficient government bureaucracy...8. 3 Inadequate supply of infrastructure...7. 5 Policy instability...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 9...15 8. 05 Venture capital availability...3. 9...14 8. 06 Soundness of banks...

4. 2...102 1. 16 Reliability of police services...4. 1...67 1. 17 Ethical behavior of firms...

4. 8...53 1. 20 Protection of minority shareholders'interests...4. 6...40 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 1...55 3. 02 Gross national savings,%GDP*..

*30.4.24 3. 03 Inflation, annual%change*..*6. 4...112 3. 04 General government debt,%GDP*..

4. 5...32 5. 04 Quality of math and science education...4. 6...36 5. 05 Quality of management schools...

and training services...4. 4...50 5. 08 Extent of staff training...4. 7...24 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...53 6. 02 Extent of market dominance...

4. 2...30 6. 05 Total tax rate,%profits*..*32.2.46 Indonesia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 216 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

69.4.1 Macroeconomic environment...62.4.8 Health and primary education...52.6.0 Efficiency enhancers (48.6%).98.3.7 Higher education and training...

13.0 Inflation...13.0 Inefficient government bureaucracy...11.5 Inadequate supply of infrastructure...10.6 Corruption...7. 9 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 6...141 8. 05 Venture capital availability...1. 9...133 8. 06 Soundness of banks...

3. 8...121 1. 16 Reliability of police services...4. 0...80 1. 17 Ethical behavior of firms...

3. 9...122 1. 20 Protection of minority shareholders'interests...3. 2...128 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 9...35 3. 02 Gross national savings,%GDP*..

*46.0.6 3. 03 Inflation, annual%change*..*35.2.143 3. 04 General government debt,%GDP*..*10.6.6 3. 05 Country credit rating, 0 100 (best*..

3. 0...108 5. 04 Quality of math and science education...4. 5...44 5. 05 Quality of management schools...

and training services...3. 9...88 5. 08 Extent of staff training...3. 0...135 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 4...119 6. 02 Extent of market dominance...

3. 6...85 6. 05 Total tax rate,%profits*..*44.1.97 Iran, Islamic Rep. 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013

Country/Economy Profiles 218 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

27.5.3 Macroeconomic environment...130.3.5 Health and primary education...8...6. 5 Efficiency enhancers (50.0%).21.5.0 Higher education and training...

5. 0 Inflation...1. 5 Policy instability...1. 5 Tax regulations...1. 5 Foreign currency regulations...

0. 0 Ireland Ireland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Ireland Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...117 8. 05 Venture capital availability...3. 0...46 8. 06 Soundness of banks...

5. 9...24 1. 16 Reliability of police services...6. 1...12 1. 17 Ethical behavior of firms...

5. 2...23 1. 20 Protection of minority shareholders'interests...4. 8...27 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 4...132 3. 02 Gross national savings,%GDP*..

*18.1.82 3. 03 Inflation, annual%change*..*0. 5...1 3. 04 General government debt,%GDP*..

5. 4...5 5. 04 Quality of math and science education...5. 0...24 5. 05 Quality of management schools...

and training services...5. 0...25 5. 08 Extent of staff training...4. 8...20 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...60 6. 02 Extent of market dominance...

4. 5...18 6. 05 Total tax rate,%profits*..*25.7.23 Ireland 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 220 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

34.5.0 Macroeconomic environment...50.5.1 Health and primary education...44.6.1 Efficiency enhancers (50.0%).26.4.8 Higher education and training...

0. 2 Inflation...0. 0 Poor public health...0. 0 Israel Israel Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Israel Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 221 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*5...32 6. 07 No. days to start a business*..

3. 0...51 8. 05 Venture capital availability...4. 2...9 8. 06 Soundness of banks...

4. 7...75 1. 16 Reliability of police services...4. 1...69 1. 17 Ethical behavior of firms...

4. 3...89 1. 20 Protection of minority shareholders'interests...4. 5...44 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 2...79 3. 02 Gross national savings,%GDP*..

*22.2.55 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..

3. 7...69 5. 04 Quality of math and science education...4. 0...79 5. 05 Quality of management schools...

and training services...4. 6...38 5. 08 Extent of staff training...4. 0...76 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 2...126 6. 02 Extent of market dominance...

3. 9...50 6. 05 Total tax rate,%profits*..*29.9.38 Israel 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 222 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 19921994199619982,00020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

26.5.4 Macroeconomic environment...108.4.1 Health and primary education...22.6.4 Efficiency enhancers (50.0%).47.4.4 Higher education and training...

0. 8 Inflation...0. 6 Inadequately educated workforce...0. 5 Poor public health...0. 4 Foreign currency regulations...

0. 2 Italy Italy Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Italy Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 6...139 8. 05 Venture capital availability...2. 0...127 8. 06 Soundness of banks...

3. 3...132 1. 16 Reliability of police services...4. 8...42 1. 17 Ethical behavior of firms...

3. 9...121 1. 20 Protection of minority shareholders'interests...3. 3...127 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...77 3. 02 Gross national savings,%GDP*..

*17.8.84 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..

3. 7...67 5. 04 Quality of math and science education...4. 5...45 5. 05 Quality of management schools...

and training services...4. 8...30 5. 08 Extent of staff training...3. 2...133 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...58 6. 02 Extent of market dominance...

2. 0...143 6. 05 Total tax rate,%profits*..*65.8.134 Italy 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 224 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

80.3.8 Macroeconomic environment...136.3.3 Health and primary education...72.5.7 Efficiency enhancers (50.0%).77.3.9 Higher education and training...

7. 6 Inflation...6. 7 Tax regulations...5. 2 Inadequately educated workforce...4. 4 Restrictive labor regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...119 8. 05 Venture capital availability...2. 2...117 8. 06 Soundness of banks...

2. 9...138 1. 16 Reliability of police services...3. 6...105 1. 17 Ethical behavior of firms...

4. 8...50 1. 20 Protection of minority shareholders'interests...4. 6...41 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...21 3. 02 Gross national savings,%GDP*..

*10.4.127 3. 03 Inflation, annual%change*..*9. 4...132 3. 04 General government debt,%GDP*..

3. 7...70 5. 04 Quality of math and science education...3. 5...101 5. 05 Quality of management schools...

and training services...3. 9...86 5. 08 Extent of staff training...4. 1...59 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...39 6. 02 Extent of market dominance...

3. 2...117 6. 05 Total tax rate,%profits*..*44.3.99 Jamaica 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 226 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

6...6. 1 Macroeconomic environment...127.3.6 Health and primary education...6...6. 6 Efficiency enhancers (50.0%).7...5. 4 Higher education and training...

1. 3 Inflation...1. 3 Access to financing...1. 2 Poor work ethic in national labor force...

0. 0 Japan Japan Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Japan Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 7...19 8. 05 Venture capital availability...3. 4...24 8. 06 Soundness of banks...

5. 2...52 1. 16 Reliability of police services...6. 0...17 1. 17 Ethical behavior of firms...

5. 4...18 1. 20 Protection of minority shareholders'interests...5. 3...14 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*8. 4...136 3. 02 Gross national savings,%GDP*..

*21.7.58 3. 03 Inflation, annual%change*..*0. 4...62 3. 04 General government debt,%GDP*..

4. 4...33 5. 04 Quality of math and science education...5. 1...21 5. 05 Quality of management schools...

and training services...5. 6...9 5. 08 Extent of staff training...5. 4...2 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 4...1 6. 02 Extent of market dominance...

3. 7...71 6. 05 Total tax rate,%profits*..*49.7.114 Japan 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 228 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 3, 000

4, 000 5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health

71.4.1 Macroeconomic environment...131.3.4 Health and primary education...47.6.1 Efficiency enhancers (50.0%).70.4.1 Higher education and training...

6. 1 Inflation...5. 1 Crime and theft...3. 9 Foreign currency regulations...3. 6 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...25 8. 05 Venture capital availability...3. 5...23 8. 06 Soundness of banks...

5. 6...37 1. 16 Reliability of police services...5. 3...31 1. 17 Ethical behavior of firms...

4. 3...92 1. 20 Protection of minority shareholders'interests...4. 7...39 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 3...110 3. 02 Gross national savings,%GDP*..

*9. 6...130 3. 03 Inflation, annual%change*..*5. 5...98 3. 04 General government debt,%GDP*..

4. 6...24 5. 04 Quality of math and science education...4. 6...39 5. 05 Quality of management schools...

and training services...4. 6...41 5. 08 Extent of staff training...4. 1...58 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...57 6. 02 Extent of market dominance...

4. 0...42 6. 05 Total tax rate,%profits*..*28.9.34 Jordan 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 230 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

62.4.2 Macroeconomic environment...27.5.7 Health and primary education...96.5.4 Efficiency enhancers (50.0%).48.4.3 Higher education and training...

7. 4 Inflation...6. 9 Inadequately educated workforce...6. 8 Insufficient capacity to innovate...6. 1 Tax rates...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 2...43 8. 05 Venture capital availability...3. 0...47 8. 06 Soundness of banks...

4. 7...74 1. 16 Reliability of police services...3. 8...91 1. 17 Ethical behavior of firms...

4. 7...61 1. 20 Protection of minority shareholders'interests...4. 1...69 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 0...9 3. 02 Gross national savings,%GDP*..

*25.6.37 3. 03 Inflation, annual%change*..*5. 8...107 3. 04 General government debt,%GDP*..

3. 6...76 5. 04 Quality of math and science education...4. 1...72 5. 05 Quality of management schools...

and training services...4. 2...66 5. 08 Extent of staff training...4. 1...62 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...111 6. 02 Extent of market dominance...

4. 0...37 6. 05 Total tax rate,%profits*..*28.6.33 Kazakhstan 2014 World Economic Forum 2. 1:

Country/Economy Profiles 232 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

96.3.3 Macroeconomic environment...126.3.7 Health and primary education...120.4.6 Efficiency enhancers (35.0%).66.4.1 Higher education and training...

8. 2 Inflation...6. 8 Policy instability...3. 5 Tax regulations...3. 3 Restrictive labor regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 4...33 8. 05 Venture capital availability...3. 1...43 8. 06 Soundness of banks...

3. 7...125 1. 16 Reliability of police services...3. 9...85 1. 17 Ethical behavior of firms...

4. 8...55 1. 20 Protection of minority shareholders'interests...4. 3...60 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 2...124 3. 02 Gross national savings,%GDP*..

*12.2.121 3. 03 Inflation, annual%change*..*5. 7...100 3. 04 General government debt,%GDP*..

4. 5...30 5. 04 Quality of math and science education...4. 0...76 5. 05 Quality of management schools...

and training services...4. 8...32 5. 08 Extent of staff training...4. 4...34 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 7...21 6. 02 Extent of market dominance...

3. 6...76 6. 05 Total tax rate,%profits*..*44.2.98 Kenya 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 234 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

14.5.7 Macroeconomic environment...7...6. 4 Health and primary education...27.6.3 Efficiency enhancers (50.0%).25.4.8 Higher education and training...

2. 5 Inflation...2. 5 Inadequately educated workforce...2. 1 Government instability/coups...0. 6 Poor public health...

0. 0 Korea, Rep. Korea, Rep. Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2

2 Transition 2 3 3 Korea, Rep. Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...120 8. 05 Venture capital availability...2. 2...107 8. 06 Soundness of banks...

4. 3...93 1. 16 Reliability of police services...4. 6...48 1. 17 Ethical behavior of firms...

3. 8...126 1. 20 Protection of minority shareholders'interests...3. 4...119 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 0...14 3. 02 Gross national savings,%GDP*..

*32.1.19 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..

3. 6...73 5. 04 Quality of math and science education...4. 7...34 5. 05 Quality of management schools...

and training services...4. 7...36 5. 08 Extent of staff training...4. 2...53 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 9...13 6. 02 Extent of market dominance...

3. 3...106 6. 05 Total tax rate,%profits*..*27.9.30 Korea, Rep. 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1

Country/Economy Profiles 236 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

61.4.3 Macroeconomic environment...3...6. 7 Health and primary education...82.5.6 Efficiency enhancers (41.3%).83.3.9 Higher education and training...

0. 5 Inflation...0. 3 Tax rates...0. 0 Kuwait Kuwait Middle east, North africa, and Pakistan Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3 Stage of development Kuwait Middle east, North africa,

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 1...45 8. 05 Venture capital availability...2. 7...69 8. 06 Soundness of banks...

5. 5...43 1. 16 Reliability of police services...4. 4...57 1. 17 Ethical behavior of firms...

3. 8...127 1. 20 Protection of minority shareholders'interests...4. 1...73 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*28.9.2 3. 02 Gross national savings,%GDP*..

*55.2.3 3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..

3. 1...105 5. 04 Quality of math and science education...3. 4...102 5. 05 Quality of management schools...

and training services...3. 6...100 5. 08 Extent of staff training...3. 7...97 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 5...114 6. 02 Extent of market dominance...

4. 6...16 6. 05 Total tax rate,%profits*..*12.4.4 Kuwait 2014 World Economic Forum 2. 1:

Country/Economy Profiles 238 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

115.2.8 Macroeconomic environment...104.4.2 Health and primary education...101.5.3 Efficiency enhancers (35.0%).104.3.6 Higher education and training...

4. 6 Inflation...4. 3 Tax regulations...3. 9 Insufficient capacity to innovate...2. 6 Inadequate supply of infrastructure...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 3...115 8. 05 Venture capital availability...2. 2...115 8. 06 Soundness of banks...

4. 0...113 1. 16 Reliability of police services...3. 1...118 1. 17 Ethical behavior of firms...

4. 2...103 1. 20 Protection of minority shareholders'interests...3. 6...101 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 8...88 3. 02 Gross national savings,%GDP*..

*13.9.115 3. 03 Inflation, annual%change*..*6. 6...114 3. 04 General government debt,%GDP*..

2. 9...121 5. 04 Quality of math and science education...3. 0...120 5. 05 Quality of management schools...

and training services...3. 5...110 5. 08 Extent of staff training...3. 5...113 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...107 6. 02 Extent of market dominance...

3. 4...99 6. 05 Total tax rate,%profits*..*33.4.51 Kyrgyz Republic 2014 World Economic Forum 2. 1:

Country/Economy Profiles 240 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

94.3.4 Macroeconomic environment...124.3.8 Health and primary education...90.5.4 Efficiency enhancers (35.0%).107.3.6 Higher education and training...

3. 8 Inflation...2. 6 Policy instability...2. 4 Poor public health...1. 7 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...71 8. 05 Venture capital availability...2. 5...85 8. 06 Soundness of banks...

4. 7...71 1. 16 Reliability of police services...4. 2...64 1. 17 Ethical behavior of firms...

5. 1...30 1. 20 Protection of minority shareholders'interests...4. 3...58 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 7...104 3. 02 Gross national savings,%GDP*..

*16.4.94 3. 03 Inflation, annual%change*..*6. 4...111 3. 04 General government debt,%GDP*..

3. 8...60 5. 04 Quality of math and science education...3. 9...83 5. 05 Quality of management schools...

and training services...3. 9...83 5. 08 Extent of staff training...4. 3...45 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...69 6. 02 Extent of market dominance...

4. 0...38 6. 05 Total tax rate,%profits*..*26.8.25 Lao PDR 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1

Country/Economy Profiles 242 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

47.4.6 Macroeconomic environment...32.5.5 Health and primary education...31.6.3 Efficiency enhancers (50.0%).36.4.6 Higher education and training...

0. 9 Inflation...0. 5 Foreign currency regulations...0. 3 Latvia Latvia Advanced economies Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

3 Stage of development Latvia Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 243 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*4...22 6. 07 No. days to start a business*..

2. 5...96 8. 05 Venture capital availability...3. 0...48 8. 06 Soundness of banks...

5. 7...34 1. 16 Reliability of police services...4. 6...46 1. 17 Ethical behavior of firms...

5. 0...38 1. 20 Protection of minority shareholders'interests...3. 9...87 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 3...41 3. 02 Gross national savings,%GDP*..

*22.0.57 3. 03 Inflation, annual%change*..*0. 0...68 3. 04 General government debt,%GDP*..

3. 8...65 5. 04 Quality of math and science education...4. 9...27 5. 05 Quality of management schools...

and training services...4. 4...53 5. 08 Extent of staff training...4. 4...33 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...23 6. 02 Extent of market dominance...

3. 8...67 6. 05 Total tax rate,%profits*..*35.9.64 Latvia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 244 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

122.2.6 Macroeconomic environment...143.2.6 Health and primary education...30.6.3 Efficiency enhancers (50.0%).85.3.9 Higher education and training...

3. 6 Inflation...3. 4 Poor work ethic in national labor force...3. 1 Inadequately educated workforce...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...76 8. 05 Venture capital availability...2. 8...59 8. 06 Soundness of banks...

4. 5...88 1. 16 Reliability of police services...2. 8...132 1. 17 Ethical behavior of firms...

3. 7...133 1. 20 Protection of minority shareholders'interests...3. 4...121 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*9. 5...138 3. 02 Gross national savings,%GDP*..

*6. 3...133 3. 03 Inflation, annual%change*..*3. 2...64 3. 04 General government debt,%GDP*..

4. 6...28 5. 04 Quality of math and science education...5. 7...5 5. 05 Quality of management schools...

and training services...4. 2...67 5. 08 Extent of staff training...3. 5...117 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...30 6. 02 Extent of market dominance...

4. 0...45 6. 05 Total tax rate,%profits*..*30.2.42 Lebanon 2014 World Economic Forum 2. 1:

Country/Economy Profiles 246 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

116.2.8 Macroeconomic environment...28.5.7 Health and primary education...128.4.0 Efficiency enhancers (35.0%).130.3.2 Higher education and training...

1. 3 Inflation...1. 2 Tax regulations...0. 4 Lesotho Lesotho Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...63 8. 05 Venture capital availability...2. 7...72 8. 06 Soundness of banks...

4. 5...85 1. 16 Reliability of police services...4. 7...45 1. 17 Ethical behavior of firms...

3. 6...135 1. 20 Protection of minority shareholders'interests...3. 1...130 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...10 3. 02 Gross national savings,%GDP*..

*31.7.21 3. 03 Inflation, annual%change*..*5. 3...96 3. 04 General government debt,%GDP*..

4. 1...49 5. 04 Quality of math and science education...3. 8...90 5. 05 Quality of management schools...

and training services...3. 9...82 5. 08 Extent of staff training...4. 0...75 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...93 6. 02 Extent of market dominance...

3. 8...65 6. 05 Total tax rate,%profits*..*16.0.9 Lesotho 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 248 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

113.2.9 Macroeconomic environment...41.5.4 Health and primary education...119.4.6 Efficiency enhancers (36.1%).137.3.0 Higher education and training...

0. 8 Inflation...0. 6 Tax regulations...0. 4 Tax rates...0. 2 Libya Libya Middle east, North africa,

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 5...142 8. 05 Venture capital availability...1. 6...142 8. 06 Soundness of banks...

4. 0...116 1. 16 Reliability of police services...2. 0...143 1. 17 Ethical behavior of firms...

2. 4...144 1. 20 Protection of minority shareholders'interests...2. 4...144 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 6...12 3. 02 Gross national savings,%GDP*..

*18.4.78 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..

1. 9...144 5. 04 Quality of math and science education...2. 9...125 5. 05 Quality of management schools...

and training services...2. 5...143 5. 08 Extent of staff training...2. 7...143 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 7...141 6. 02 Extent of market dominance...

3. 2...109 6. 05 Total tax rate,%profits*..*31.6.44 Libya 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 250 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market

43.4.7 Macroeconomic environment...42.5.3 Health and primary education...35.6.2 Efficiency enhancers (50.0%).38.4.5 Higher education and training...

2. 7 Inflation...1. 1 Crime and theft...0. 8 Foreign currency regulations...0. 3 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 6...91 8. 05 Venture capital availability...2. 7...73 8. 06 Soundness of banks...

5. 1...55 1. 16 Reliability of police services...4. 3...60 1. 17 Ethical behavior of firms...

5. 0...34 1. 20 Protection of minority shareholders'interests...3. 9...89 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 1...54 3. 02 Gross national savings,%GDP*..

*19.3.73 3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..

3. 9...55 5. 04 Quality of math and science education...5. 1...23 5. 05 Quality of management schools...

and training services...4. 8...33 5. 08 Extent of staff training...4. 2...50 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...22 6. 02 Extent of market dominance...

3. 1...124 6. 05 Total tax rate,%profits*..*43.1.92 Lithuania 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 252 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 20,000 40,000 60,000

80,000 100,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

16.5.7 Macroeconomic environment...8...6. 4 Health and primary education...36.6.2 Efficiency enhancers (50.0%).22.5.0 Higher education and training...

5. 6 Inflation...4. 1 Inadequate supply of infrastructure...3. 9 Foreign currency regulations...2. 9 Poor work ethic in national labor force...

0. 0 Luxembourg Luxembourg Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Luxembourg Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 4...6 8. 05 Venture capital availability...4. 2...10 8. 06 Soundness of banks...

6. 3...11 1. 16 Reliability of police services...6. 1...9 1. 17 Ethical behavior of firms...

5. 8...6 1. 20 Protection of minority shareholders'interests...5. 5...7 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...22 3. 02 Gross national savings,%GDP*..

*28.2.30 3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..

4. 6...25 5. 04 Quality of math and science education...4. 8...28 5. 05 Quality of management schools...

and training services...5. 3...22 5. 08 Extent of staff training...5. 4...3 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...54 6. 02 Extent of market dominance...

5. 3...8 6. 05 Total tax rate,%profits*..*20.7.12 Luxembourg 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 254 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

82.3.7 Macroeconomic environment...55.4.9 Health and primary education...78.5.6 Efficiency enhancers (50.0%).69.4.1 Higher education and training...

1. 3 Inflation...1. 0 Macedonia, FYR Macedonia, FYR Emerging and Developing Europe Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...55 8. 05 Venture capital availability...2. 9...52 8. 06 Soundness of banks...

4. 8...65 1. 16 Reliability of police services...4. 5...53 1. 17 Ethical behavior of firms...

4. 5...77 1. 20 Protection of minority shareholders'interests...4. 4...53 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 0...91 3. 02 Gross national savings,%GDP*..

*22.6.53 3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..

4. 0...53 5. 04 Quality of math and science education...4. 4...48 5. 05 Quality of management schools...

and training services...3. 8...93 5. 08 Extent of staff training...3. 9...81 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...43 6. 02 Extent of market dominance...

4. 5...19 6. 05 Total tax rate,%profits*..*8. 2...1 Macedonia, FYR 2014 World Economic Forum 2. 1:

Country/Economy Profiles 256 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

135.2.1 Macroeconomic environment...81.4.6 Health and primary education...125.4.3 Efficiency enhancers (35.0%).128.3.3 Higher education and training...

3. 2 Inflation...3. 2 Foreign currency regulations...1. 4 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...78 8. 05 Venture capital availability...2. 5...89 8. 06 Soundness of banks...

4. 1...110 1. 16 Reliability of police services...2. 8...130 1. 17 Ethical behavior of firms...

4. 4...85 1. 20 Protection of minority shareholders'interests...3. 4...120 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 5...44 3. 02 Gross national savings,%GDP*..

*19.2.74 3. 03 Inflation, annual%change*..*5. 8...106 3. 04 General government debt,%GDP*..

3. 0...115 5. 04 Quality of math and science education...3. 7...93 5. 05 Quality of management schools...

and training services...3. 4...117 5. 08 Extent of staff training...3. 7...102 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...90 6. 02 Extent of market dominance...

3. 1...125 6. 05 Total tax rate,%profits*..*35.8.63 Madagascar 2014 World Economic Forum 2. 1:

Country/Economy Profiles 258 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

131.2.2 Macroeconomic environment...144.2.4 Health and primary education...123.4.4 Efficiency enhancers (35.0%).122.3.4 Higher education and training...

10.1 Inflation...9. 6 Tax rates...8. 8 Inefficient government bureaucracy...8. 2 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 3...114 8. 05 Venture capital availability...2. 2...112 8. 06 Soundness of banks...

5. 1...56 1. 16 Reliability of police services...4. 0...82 1. 17 Ethical behavior of firms...

4. 7...58 1. 20 Protection of minority shareholders'interests...4. 4...50 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 7...125 3. 02 Gross national savings,%GDP*..

*16.9.93 3. 03 Inflation, annual%change*..*27.7.142 3. 04 General government debt,%GDP*..*68.9.112 3. 05 Country credit rating, 0 100 (best*..

3. 2...99 5. 04 Quality of math and science education...3. 0...119 5. 05 Quality of management schools...

and training services...3. 4...113 5. 08 Extent of staff training...4. 0...65 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...76 6. 02 Extent of market dominance...

3. 3...103 6. 05 Total tax rate,%profits*..*34.9.57 Malawi 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 260 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

25.5.5 Macroeconomic environment...44.5.3 Health and primary education...33.6.3 Efficiency enhancers (50.0%).24.4.9 Higher education and training...

6. 6 Inflation...6. 4 Policy instability...5. 9 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 8...2 8. 05 Venture capital availability...4. 6...2 8. 06 Soundness of banks...

5. 2...51 1. 16 Reliability of police services...5. 1...35 1. 17 Ethical behavior of firms...

5. 6...10 1. 20 Protection of minority shareholders'interests...5. 3...13 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 6...102 3. 02 Gross national savings,%GDP*..

*30.1.25 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..

5. 3...10 5. 04 Quality of math and science education...5. 2...16 5. 05 Quality of management schools...

and training services...5. 4...13 5. 08 Extent of staff training...5. 3...4 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...34 6. 02 Extent of market dominance...

5. 2...10 6. 05 Total tax rate,%profits*..*36.3.65 Malaysia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 262 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

103.3.2 Macroeconomic environment...86.4.5 Health and primary education...138.3.3 Efficiency enhancers (35.0%).129.3.2 Higher education and training...

1. 3 Inflation...0. 8 Mali Mali Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...84 8. 05 Venture capital availability...2. 4...94 8. 06 Soundness of banks...

3. 2...134 1. 16 Reliability of police services...3. 8...90 1. 17 Ethical behavior of firms...

3. 5...138 1. 20 Protection of minority shareholders'interests...3. 6...104 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 7...68 3. 02 Gross national savings,%GDP*..

*14.9.108 3. 03 Inflation, annual%change*..*0. 6...79 3. 04 General government debt,%GDP*..

3. 0...110 5. 04 Quality of math and science education...3. 1...114 5. 05 Quality of management schools...

and training services...3. 4...115 5. 08 Extent of staff training...3. 3...126 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...97 6. 02 Extent of market dominance...

3. 2...113 6. 05 Total tax rate,%profits*..*49.5.112 Mali 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 264 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

37.4.9 Macroeconomic environment...65.4.7 Health and primary education...20.6.4 Efficiency enhancers (50.0%).44.4.4 Higher education and training...

3. 0 Inflation...2. 3 Policy instability...2. 0 Government instability/coups...0. 7 Foreign currency regulations...

0. 0 Malta Malta Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Malta Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 8...16 8. 05 Venture capital availability...3. 1...40 8. 06 Soundness of banks...

5. 8...26 1. 16 Reliability of police services...5. 3...33 1. 17 Ethical behavior of firms...

4. 6...66 1. 20 Protection of minority shareholders'interests...4. 8...29 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 9...71 3. 02 Gross national savings,%GDP*..

*14.4.111 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..

5. 0...16 5. 04 Quality of math and science education...5. 3...13 5. 05 Quality of management schools...

and training services...4. 6...40 5. 08 Extent of staff training...4. 4...40 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 1...3 6. 02 Extent of market dominance...

4. 3...27 6. 05 Total tax rate,%profits*..*41.0.86 Malta 2014 World Economic Forum 2. 1:

Country/Economy Profiles 266 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 4, 000 5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment

123.2.6 Macroeconomic environment...115.4.0 Health and primary education...137.3.5 Efficiency enhancers (35.0%).143.2.7 Higher education and training...

3. 3 Inflation...3. 2 Crime and theft...2. 8 Tax rates...2. 8 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 0...125 8. 05 Venture capital availability...1. 9...134 8. 06 Soundness of banks...

4. 9...64 1. 16 Reliability of police services...3. 0...121 1. 17 Ethical behavior of firms...

2. 8...142 1. 20 Protection of minority shareholders'interests...2. 4...143 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 1...38 3. 02 Gross national savings,%GDP*..

*10.0.129 3. 03 Inflation, annual%change*..*4. 1...82 3. 04 General government debt,%GDP*..

2. 7...128 5. 04 Quality of math and science education...2. 9...123 5. 05 Quality of management schools...

and training services...3. 1...128 5. 08 Extent of staff training...2. 6...144 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 1...131 6. 02 Extent of market dominance...

3. 1...120 6. 05 Total tax rate,%profits*..*68.2.135 Mauritania 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 268 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

42.4.7 Macroeconomic environment...74.4.7 Health and primary education...42.6.1 Efficiency enhancers (50.0%).59.4.2 Higher education and training...

7. 2 Inflation...4. 7 Tax rates...2. 7 Policy instability...2. 5 Tax regulations...1. 7 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 5...31 8. 05 Venture capital availability...3. 1...41 8. 06 Soundness of banks...

6. 0...20 1. 16 Reliability of police services...4. 5...51 1. 17 Ethical behavior of firms...

5. 0...39 1. 20 Protection of minority shareholders'interests...5. 2...18 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 5...84 3. 02 Gross national savings,%GDP*..

*14.1.113 3. 03 Inflation, annual%change*..*3. 5...71 3. 04 General government debt,%GDP*..

4. 2...42 5. 04 Quality of math and science education...4. 6...40 5. 05 Quality of management schools...

and training services...4. 4...52 5. 08 Extent of staff training...4. 4...35 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...24 6. 02 Extent of market dominance...

5. 3...9 6. 05 Total tax rate,%profits*..*28.2.32 Mauritius 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 270 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

65.4.2 Macroeconomic environment...53.5.0 Health and primary education...71.5.7 Efficiency enhancers (50.0%).60.4.2 Higher education and training...

1. 6 Inflation...1. 1 Foreign currency regulations...0. 4 Poor public health...0. 4 Government instability/coups...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...107 8. 05 Venture capital availability...2. 5...86 8. 06 Soundness of banks...

2. 7...140 1. 16 Reliability of police services...2. 8...128 1. 17 Ethical behavior of firms...

4. 4...81 1. 20 Protection of minority shareholders'interests...4. 3...62 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 9...89 3. 02 Gross national savings,%GDP*..

*20.4.66 3. 03 Inflation, annual%change*..*3. 8...76 3. 04 General government debt,%GDP*..

2. 8...123 5. 04 Quality of math and science education...2. 7...128 5. 05 Quality of management schools...

and training services...4. 3...60 5. 08 Extent of staff training...4. 0...74 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...64 6. 02 Extent of market dominance...

3. 2...110 6. 05 Total tax rate,%profits*..*53.7.122 Mexico 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 272 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

83.3.7 Macroeconomic environment...56.4.9 Health and primary education...93.5.4 Efficiency enhancers (38.4%).88.3.8 Higher education and training...

4. 5 Inflation...3. 4 Poor work ethic in national labor force...2. 5 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...104 8. 05 Venture capital availability...2. 2...116 8. 06 Soundness of banks...

4. 6...83 1. 16 Reliability of police services...3. 1...116 1. 17 Ethical behavior of firms...

4. 2...95 1. 20 Protection of minority shareholders'interests...3. 5...117 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 8...46 3. 02 Gross national savings,%GDP*..

*19.6.70 3. 03 Inflation, annual%change*..*4. 6...89 3. 04 General government debt,%GDP*..

3. 2...103 5. 04 Quality of math and science education...4. 0...80 5. 05 Quality of management schools...

and training services...3. 3...119 5. 08 Extent of staff training...3. 4...120 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...99 6. 02 Extent of market dominance...

3. 2...108 6. 05 Total tax rate,%profits*..*40.4.79 Moldova 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 274 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2

Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication

112.2.9 Macroeconomic environment...125.3.8 Health and primary education...65.5.8 Efficiency enhancers (43.0%).92.3.8 Higher education and training...

9. 6 Inflation...9. 3 Policy instability...9. 1 Access to financing...8. 8 Corruption...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 5...143 8. 05 Venture capital availability...1. 6...141 8. 06 Soundness of banks...

4. 7...72 1. 16 Reliability of police services...3. 7...94 1. 17 Ethical behavior of firms...

3. 8...129 1. 20 Protection of minority shareholders'interests...3. 5...111 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*10.1.139 3. 02 Gross national savings,%GDP*..

*27.1.33 3. 03 Inflation, annual%change*..*9. 6...134 3. 04 General government debt,%GDP*..

2. 9...116 5. 04 Quality of math and science education...4. 5...46 5. 05 Quality of management schools...

and training services...2. 8...137 5. 08 Extent of staff training...4. 0...73 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...82 6. 02 Extent of market dominance...

3. 8...70 6. 05 Total tax rate,%profits*..*24.6.21 Mongolia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 276 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

72.4.1 Macroeconomic environment...88.4.5 Health and primary education...29.6.3 Efficiency enhancers (50.0%).73.4.0 Higher education and training...

3. 7 Inflation...1. 2 Policy instability...1. 2 Poor public health...1. 1 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...49 8. 05 Venture capital availability...2. 9...50 8. 06 Soundness of banks...

4. 6...80 1. 16 Reliability of police services...4. 3...59 1. 17 Ethical behavior of firms...

4. 1...109 1. 20 Protection of minority shareholders'interests...3. 9...84 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 4...60 3. 02 Gross national savings,%GDP*..

*1. 0...138 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..

4. 3...41 5. 04 Quality of math and science education...4. 9...25 5. 05 Quality of management schools...

and training services...3. 6...103 5. 08 Extent of staff training...3. 9...87 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 9...135 6. 02 Extent of market dominance...

4. 0...43 6. 05 Total tax rate,%profits*..*20.9.13 Montenegro 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 278 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 3, 000

4, 000 5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health

55.4.4 Macroeconomic environment...66.4.7 Health and primary education...76.5.7 Efficiency enhancers (50.0%).78.3.9 Higher education and training...

0. 8 Inflation...0. 5 Crime and theft...0. 0 Government instability/coups...0. 0 Morocco Morocco Middle east, North africa,

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 1...46 8. 05 Venture capital availability...2. 9...49 8. 06 Soundness of banks...

5. 7...33 1. 16 Reliability of police services...4. 9...41 1. 17 Ethical behavior of firms...

4. 8...52 1. 20 Protection of minority shareholders'interests...4. 3...59 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 4...113 3. 02 Gross national savings,%GDP*..

*27.2.32 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..

3. 2...102 5. 04 Quality of math and science education...4. 2...68 5. 05 Quality of management schools...

and training services...4. 1...72 5. 08 Extent of staff training...3. 6...106 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...48 6. 02 Extent of market dominance...

3. 9...53 6. 05 Total tax rate,%profits*..*49.6.113 Morocco 2014 World Economic Forum 2. 1:

Country/Economy Profiles 280 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

128.2.4 Macroeconomic environment...110.4.1 Health and primary education...135.3.6 Efficiency enhancers (35.0%).131.3.2 Higher education and training...

2. 2 Inflation...2. 0 Insufficient capacity to innovate...1. 8 Tax regulations...1. 2 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 9...127 8. 05 Venture capital availability...2. 1...120 8. 06 Soundness of banks...

3. 5...130 1. 16 Reliability of police services...2. 9...125 1. 17 Ethical behavior of firms...

4. 2...99 1. 20 Protection of minority shareholders'interests...3. 5...114 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 6...101 3. 02 Gross national savings,%GDP*..

*6. 8...132 3. 03 Inflation, annual%change*..*4. 2...83 3. 04 General government debt,%GDP*..

2. 8...124 5. 04 Quality of math and science education...2. 6...133 5. 05 Quality of management schools...

and training services...3. 4...112 5. 08 Extent of staff training...3. 4...121 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...96 6. 02 Extent of market dominance...

3. 6...84 6. 05 Total tax rate,%profits*..*37.5.71 Mozambique 2014 World Economic Forum 2. 1:

Country/Economy Profiles 282 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

137.2.0 Macroeconomic environment...116.4.0 Health and primary education...117.4.6 Efficiency enhancers (35.0%).134.3.1 Higher education and training...

4. 8 Inflation...4. 0 Government instability/coups...3. 8 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 4...144 8. 05 Venture capital availability...1. 6...143 8. 06 Soundness of banks...

3. 1...136 1. 16 Reliability of police services...2. 9...126 1. 17 Ethical behavior of firms...

4. 1...114 1. 20 Protection of minority shareholders'interests...2. 8...137 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 9...108 3. 02 Gross national savings,%GDP*..

*18.7.76 3. 03 Inflation, annual%change*..*5. 8...105 3. 04 General government debt,%GDP*..

2. 7...129 5. 04 Quality of math and science education...2. 7...129 5. 05 Quality of management schools...

and training services...2. 9...135 5. 08 Extent of staff training...2. 9...138 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...100 6. 02 Extent of market dominance...

3. 9...55 6. 05 Total tax rate,%profits*..*48.9.109 Myanmar 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 284 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4

, 000 6, 000 8, 000 10,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

66.4.2 Macroeconomic environment...78.4.6 Health and primary education...115.4.6 Efficiency enhancers (50.0%).97.3.7 Higher education and training...

2. 3 Inflation...2. 2 Foreign currency regulations...2. 1 Poor public health...1. 1 Policy instability...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...68 8. 05 Venture capital availability...2. 5...88 8. 06 Soundness of banks...

4. 7...76 1. 16 Reliability of police services...3. 9...84 1. 17 Ethical behavior of firms...

4. 6...67 1. 20 Protection of minority shareholders'interests...4. 8...30 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 7...103 3. 02 Gross national savings,%GDP*..

*20.1.68 3. 03 Inflation, annual%change*..*6. 2...109 3. 04 General government debt,%GDP*..

3. 1...107 5. 04 Quality of math and science education...2. 9...126 5. 05 Quality of management schools...

and training services...3. 6...102 5. 08 Extent of staff training...4. 1...57 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 6...104 6. 02 Extent of market dominance...

4. 0...39 6. 05 Total tax rate,%profits*..*21.8.15 Namibia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 286 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

132.2.1 Macroeconomic environment...37.5.4 Health and primary education...75.5.7 Efficiency enhancers (35.0%).115.3.4 Higher education and training...

2. 0 Inflation...2. 0 Tax rates...1. 9 Insufficient capacity to innovate...1. 4 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 3...116 8. 05 Venture capital availability...2. 2...105 8. 06 Soundness of banks...

3. 5...129 1. 16 Reliability of police services...3. 8...87 1. 17 Ethical behavior of firms...

4. 0...115 1. 20 Protection of minority shareholders'interests...3. 3...126 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 0...11 3. 02 Gross national savings,%GDP*..

*35.1.15 3. 03 Inflation, annual%change*..*9. 9...136 3. 04 General government debt,%GDP*..

3. 6...75 5. 04 Quality of math and science education...3. 8...87 5. 05 Quality of management schools...

and training services...3. 1...131 5. 08 Extent of staff training...3. 3...125 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...94 6. 02 Extent of market dominance...

3. 3...101 6. 05 Total tax rate,%profits*..*31.5.43 Nepal 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 288 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

4...6. 3 Macroeconomic environment...39.5.4 Health and primary education...5...6. 6 Efficiency enhancers (50.0%).8...5. 3 Higher education and training...

1. 5 Inflation...1. 1 Government instability/coups...1. 0 Foreign currency regulations...0. 7 Crime and theft...

0. 0 Netherlands Netherlands Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Netherlands Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 1...48 8. 05 Venture capital availability...3. 5...22 8. 06 Soundness of banks...

6. 0...19 1. 16 Reliability of police services...6. 0...16 1. 17 Ethical behavior of firms...

5. 7...7 1. 20 Protection of minority shareholders'interests...5. 4...12 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 1...78 3. 02 Gross national savings,%GDP*..

*26.6.35 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..

5. 3...8 5. 04 Quality of math and science education...5. 4...8 5. 05 Quality of management schools...

and training services...6. 1...2 5. 08 Extent of staff training...5. 0...12 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 9...14 6. 02 Extent of market dominance...

4. 6...17 6. 05 Total tax rate,%profits*..*39.3.75 Netherlands 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 290 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

29.5.3 Macroeconomic environment...25.5.8 Health and primary education...4...6. 7 Efficiency enhancers (50.0%).11.5.3 Higher education and training...

4. 1 Inflation...1. 4 Foreign currency regulations...1. 2 Poor public health...0. 2 Corruption...

0. 0 New zealand New zealand Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 New zealand Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 0...11 8. 05 Venture capital availability...3. 9...12 8. 06 Soundness of banks...

6. 5...7 1. 16 Reliability of police services...6. 5...2 1. 17 Ethical behavior of firms...

6. 1...1 1. 20 Protection of minority shareholders'interests...6. 1...4 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 6...31 3. 02 Gross national savings,%GDP*..

*17.1.88 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..

5. 3...7 5. 04 Quality of math and science education...5. 3...12 5. 05 Quality of management schools...

and training services...4. 9...26 5. 08 Extent of staff training...4. 9...17 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...26 6. 02 Extent of market dominance...

4. 9...13 6. 05 Total tax rate,%profits*..*34.6.55 New zealand 2014 World Economic Forum 2. 1:

Country/Economy Profiles 292 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

99.3.2 Macroeconomic environment...67.4.7 Health and primary education...95.5.4 Efficiency enhancers (35.0%).118.3.4 Higher education and training...

1. 2 Inflation...0. 6 Crime and theft...0. 0 Foreign currency regulations...0. 0 Government instability/coups...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...67 8. 05 Venture capital availability...2. 7...65 8. 06 Soundness of banks...

5. 0...60 1. 16 Reliability of police services...3. 7...98 1. 17 Ethical behavior of firms...

4. 1...111 1. 20 Protection of minority shareholders'interests...3. 5...108 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 5...30 3. 02 Gross national savings,%GDP*..

*17.1.89 3. 03 Inflation, annual%change*..*7. 4...121 3. 04 General government debt,%GDP*..

2. 7...130 5. 04 Quality of math and science education...2. 7...130 5. 05 Quality of management schools...

and training services...3. 3...123 5. 08 Extent of staff training...3. 8...88 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 2...130 6. 02 Extent of market dominance...

3. 4...95 6. 05 Total tax rate,%profits*..*64.9.133 Nicaragua 2014 World Economic Forum 2. 1:

Country/Economy Profiles 294 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

134.2.1 Macroeconomic environment...76.4.6 Health and primary education...143.3.0 Efficiency enhancers (35.0%).82.3.9 Higher education and training...

2. 1 Inflation...1. 8 Foreign currency regulations...1. 3 Insufficient capacity to innovate...1. 2 Government instability/coups...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 6...137 8. 05 Venture capital availability...1. 9...131 8. 06 Soundness of banks...

3. 7...124 1. 16 Reliability of police services...2. 6...136 1. 17 Ethical behavior of firms...

4. 4...80 1. 20 Protection of minority shareholders'interests...3. 8...90 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 9...106 3. 02 Gross national savings,%GDP*..

*29.3.26 3. 03 Inflation, annual%change*..*8. 5...127 3. 04 General government debt,%GDP*..

2. 9...122 5. 04 Quality of math and science education...2. 6...132 5. 05 Quality of management schools...

and training services...3. 7...95 5. 08 Extent of staff training...4. 3...48 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...50 6. 02 Extent of market dominance...

4. 0...40 6. 05 Total tax rate,%profits*..*33.8.53 Nigeria 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 296 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 60,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

32.5.2 Macroeconomic environment...1...6. 8 Health and primary education...15.6.5 Efficiency enhancers (50.0%).13.5.2 Higher education and training...

1. 4 Inflation...0. 8 Poor public health...0. 4 Corruption...0. 2 Crime and theft...

0. 0 Norway Norway Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Norway Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 3...7 8. 05 Venture capital availability...4. 3...6 8. 06 Soundness of banks...

6. 1...17 1. 16 Reliability of police services...6. 1...13 1. 17 Ethical behavior of firms...

6. 0...2 1. 20 Protection of minority shareholders'interests...5. 9...6 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*11.1.4 3. 02 Gross national savings,%GDP*..

*37.4.14 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..

5. 0...14 5. 04 Quality of math and science education...4. 5...41 5. 05 Quality of management schools...

and training services...5. 5...11 5. 08 Extent of staff training...5. 2...8 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...49 6. 02 Extent of market dominance...

4. 0...41 6. 05 Total tax rate,%profits*..*40.7.82 Norway 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 298 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 30,000 35,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

33.5.0 Macroeconomic environment...6...6. 6 Health and primary education...54.6.0 Efficiency enhancers (50.0%).49.4.3 Higher education and training...

2. 3 Inflation...1. 2 Tax rates...0. 4 Poor public health...0. 3 Tax regulations...0. 2 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 1...9 8. 05 Venture capital availability...3. 5...21 8. 06 Soundness of banks...

6. 7...3 1. 16 Reliability of police services...5. 6...27 1. 17 Ethical behavior of firms...

5. 0...37 1. 20 Protection of minority shareholders'interests...5. 2...17 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 8...8 3. 02 Gross national savings,%GDP*..

*37.7.13 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..

3. 5...81 5. 04 Quality of math and science education...3. 6...95 5. 05 Quality of management schools...

and training services...3. 8...94 5. 08 Extent of staff training...4. 3...49 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 0...73 6. 02 Extent of market dominance...

5. 7...5 6. 05 Total tax rate,%profits*..*22.0.16 Oman 2014 World Economic Forum 2. 1:

Country/Economy Profiles 300 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 4, 000 5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment

119.2.7 Macroeconomic environment...137.3.2 Health and primary education...129.4.0 Efficiency enhancers (35.0%).101.3.6 Higher education and training...

4. 7 Inflation...3. 7 Tax regulations...3. 5 Insufficient capacity to innovate...3. 3 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 6...90 8. 05 Venture capital availability...2. 5...92 8. 06 Soundness of banks...

3. 0...137 1. 16 Reliability of police services...2. 8...127 1. 17 Ethical behavior of firms...

4. 0...119 1. 20 Protection of minority shareholders'interests...4. 0...79 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 8...134 3. 02 Gross national savings,%GDP*..

*13.2.120 3. 03 Inflation, annual%change*..*7. 4...120 3. 04 General government debt,%GDP*..

3. 4...92 5. 04 Quality of math and science education...3. 4...104 5. 05 Quality of management schools...

and training services...3. 6...101 5. 08 Extent of staff training...3. 4...122 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...84 6. 02 Extent of market dominance...

3. 8...64 6. 05 Total tax rate,%profits*..*34.7.56 Pakistan 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 302 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

40.4.8 Macroeconomic environment...52.5.1 Health and primary education...79.5.6 Efficiency enhancers (50.0%).55.4.3 Higher education and training...

6. 2 Inflation...5. 2 Tax regulations...4. 0 Inadequate supply of infrastructure...3. 2 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 0...13 8. 05 Venture capital availability...3. 6...16 8. 06 Soundness of banks...

4. 5...87 1. 16 Reliability of police services...4. 5...52 1. 17 Ethical behavior of firms...

4. 5...71 1. 20 Protection of minority shareholders'interests...4. 4...54 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...75 3. 02 Gross national savings,%GDP*..

*18.1.83 3. 03 Inflation, annual%change*..*4. 0...81 3. 04 General government debt,%GDP*..

3. 5...83 5. 04 Quality of math and science education...3. 3...107 5. 05 Quality of management schools...

and training services...4. 2...63 5. 08 Extent of staff training...4. 3...47 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...67 6. 02 Extent of market dominance...

4. 4...23 6. 05 Total tax rate,%profits*..*40.5.81 Panama 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 304 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

117.2.7 Macroeconomic environment...54.5.0 Health and primary education...111.4.8 Efficiency enhancers (50.0%).112.3.5 Higher education and training...

2. 3 Inflation...1. 1 Foreign currency regulations...1. 0 Tax rates...0. 9 Policy instability...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...57 8. 05 Venture capital availability...2. 2...113 8. 06 Soundness of banks...

4. 4...91 1. 16 Reliability of police services...2. 3...141 1. 17 Ethical behavior of firms...

4. 0...118 1. 20 Protection of minority shareholders'interests...3. 5...107 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 8...47 3. 02 Gross national savings,%GDP*..

*16.9.92 3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..

2. 3...139 5. 04 Quality of math and science education...2. 3...138 5. 05 Quality of management schools...

and training services...3. 0...133 5. 08 Extent of staff training...3. 7...105 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...68 6. 02 Extent of market dominance...

4. 7...15 6. 05 Total tax rate,%profits*..*35.0.58 Paraguay 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 306 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

88.3.5 Macroeconomic environment...21.5.9 Health and primary education...94.5.4 Efficiency enhancers (50.0%).62.4.2 Higher education and training...

0. 6 Inflation...0. 5 Peru Peru Latin america and the Caribbean Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 2...42 8. 05 Venture capital availability...2. 9...54 8. 06 Soundness of banks...

3. 1...135 1. 16 Reliability of police services...2. 6...137 1. 17 Ethical behavior of firms...

5. 1...31 1. 20 Protection of minority shareholders'interests...4. 3...64 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 5...17 3. 02 Gross national savings,%GDP*..

*22.7.52 3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..

2. 5...134 5. 04 Quality of math and science education...2. 3...139 5. 05 Quality of management schools...

and training services...3. 9...87 5. 08 Extent of staff training...3. 8...93 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...70 6. 02 Extent of market dominance...

3. 5...91 6. 05 Total tax rate,%profits*..*36.4.66 Peru 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 308 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2

Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication

91.3.5 Macroeconomic environment...26.5.8 Health and primary education...92.5.4 Efficiency enhancers (46.9%).58.4.3 Higher education and training...

4. 1 Inflation...3. 8 Inadequately educated workforce...2. 3 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 5...30 8. 05 Venture capital availability...3. 3...31 8. 06 Soundness of banks...

4. 7...69 1. 16 Reliability of police services...3. 6...101 1. 17 Ethical behavior of firms...

5. 1...29 1. 20 Protection of minority shareholders'interests...4. 5...45 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...25 3. 02 Gross national savings,%GDP*..

*22.9.51 3. 03 Inflation, annual%change*..*2. 9...57 3. 04 General government debt,%GDP*..

4. 5...29 5. 04 Quality of math and science education...4. 1...70 5. 05 Quality of management schools...

and training services...4. 4...49 5. 08 Extent of staff training...4. 6...27 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...61 6. 02 Extent of market dominance...

3. 9...52 6. 05 Total tax rate,%profits*..*44.5.100 Philippines 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 310 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 25,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

63.4.2 Macroeconomic environment...63.4.8 Health and primary education...39.6.2 Efficiency enhancers (50.0%).32.4.6 Higher education and training...

0. 8 Inflation...0. 7 Foreign currency regulations...0. 6 Crime and theft...0. 3 Poland Poland Emerging

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 6...89 8. 05 Venture capital availability...2. 3...99 8. 06 Soundness of banks...

5. 6...35 1. 16 Reliability of police services...4. 1...76 1. 17 Ethical behavior of firms...

4. 3...87 1. 20 Protection of minority shareholders'interests...4. 0...81 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 5...100 3. 02 Gross national savings,%GDP*..

*16.9.91 3. 03 Inflation, annual%change*..*0. 9...1 3. 04 General government debt,%GDP*..

3. 6...79 5. 04 Quality of math and science education...4. 4...50 5. 05 Quality of management schools...

and training services...4. 8...31 5. 08 Extent of staff training...4. 0...72 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 3...51 6. 02 Extent of market dominance...

3. 3...102 6. 05 Total tax rate,%profits*..*41.6.87 Poland 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 312 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

17.5.7 Macroeconomic environment...128.3.5 Health and primary education...24.6.4 Efficiency enhancers (50.0%).37.4.6 Higher education and training...

0. 1 Inflation...0. 0 Crime and theft...0. 0 Portugal Portugal Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Portugal Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 313 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*3...10 6. 07 No. days to start a business*..

2. 4...108 8. 05 Venture capital availability...2. 5...84 8. 06 Soundness of banks...

6. 3...13 1. 16 Reliability of police services...5. 3...29 1. 17 Ethical behavior of firms...

4. 5...76 1. 20 Protection of minority shareholders'interests...4. 4...47 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 9...107 3. 02 Gross national savings,%GDP*..

*16.0.97 3. 03 Inflation, annual%change*..*0. 4...59 3. 04 General government debt,%GDP*..

4. 3...40 5. 04 Quality of math and science education...4. 5...43 5. 05 Quality of management schools...

and training services...5. 1...24 5. 08 Extent of staff training...4. 2...54 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...63 6. 02 Extent of market dominance...

2. 9...129 6. 05 Total tax rate,%profits*..*42.3.89 Portugal 2014 World Economic Forum Rank Score out of 144)( 1 7) Percent of responses Note:

Country/Economy Profiles 314 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 Institutions Infrastructure Macroeconomic environment

58.4.3 Macroeconomic environment...99.4.2 Health and primary education...103.5.3 Efficiency enhancers (50.0%).28.4.7 Higher education and training...

3. 1 Inflation...2. 6 Crime and theft...2. 1 Government instability/coups...1. 7 Inadequately educated workforce...

Puerto rico Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...73 8. 05 Venture capital availability...2. 9...51 8. 06 Soundness of banks...

5. 2...54 1. 16 Reliability of police services...4. 8...43 1. 17 Ethical behavior of firms...

5. 5...14 1. 20 Protection of minority shareholders'interests...6. 1...3 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 2...109 3. 02 Gross national savings,%GDP*..

*14.1.114 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..

3. 5...85 5. 04 Quality of math and science education...3. 8...91 5. 05 Quality of management schools...

and training services...5. 6...10 5. 08 Extent of staff training...4. 9...16 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 0...7 6. 02 Extent of market dominance...

3. 7...72 6. 05 Total tax rate,%profits*..*50.7.116 Puerto rico 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 316 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 20,000 40,000 60,000

80,000 100,000 120,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market

24.5.5 Macroeconomic environment...2...6. 7 Health and primary education...28.6.3 Efficiency enhancers (50.0%).20.5.0 Higher education and training...

11.0 Inflation...10.0 Insufficient capacity to innovate...8. 1 Inefficient government bureaucracy...7. 1 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

5. 1...1 8. 05 Venture capital availability...4. 8...1 8. 06 Soundness of banks...

6. 7...2 1. 16 Reliability of police services...6. 3...3 1. 17 Ethical behavior of firms...

5. 5...12 1. 20 Protection of minority shareholders'interests...6. 0...5 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*11.1.3 3. 02 Gross national savings,%GDP*..

*58.4.2 3. 03 Inflation, annual%change*..*3. 1...63 3. 04 General government debt,%GDP*..

5. 8...3 5. 04 Quality of math and science education...5. 5...6 5. 05 Quality of management schools...

and training services...5. 3...19 5. 08 Extent of staff training...5. 3...6 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 7...18 6. 02 Extent of market dominance...

6. 2...3 6. 05 Total tax rate,%profits*..*11.3.3 Qatar 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 318 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

85.3.7 Macroeconomic environment...46.5.2 Health and primary education...88.5.5 Efficiency enhancers (50.0%).50.4.3 Higher education and training...

4. 9 Inflation...4. 7 Policy instability...4. 7 Government instability/coups...2. 5 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...59 8. 05 Venture capital availability...2. 6...78 8. 06 Soundness of banks...

4. 1...105 1. 16 Reliability of police services...4. 2...65 1. 17 Ethical behavior of firms...

4. 1...112 1. 20 Protection of minority shareholders'interests...3. 6...99 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 5...65 3. 02 Gross national savings,%GDP*..

*22.1.56 3. 03 Inflation, annual%change*..*4. 0...80 3. 04 General government debt,%GDP*..

3. 8...61 5. 04 Quality of math and science education...4. 7...31 5. 05 Quality of management schools...

and training services...4. 2...68 5. 08 Extent of staff training...3. 6...111 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 4...120 6. 02 Extent of market dominance...

2. 9...128 6. 05 Total tax rate,%profits*..*42.9.91 Romania 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 320 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

39.4.8 Macroeconomic environment...31.5.5 Health and primary education...56.6.0 Efficiency enhancers (50.0%).41.4.5 Higher education and training...

8. 2 Inflation...7. 6 Inadequately educated workforce...7. 3 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...56 8. 05 Venture capital availability...2. 7...61 8. 06 Soundness of banks...

4. 2...101 1. 16 Reliability of police services...3. 2...114 1. 17 Ethical behavior of firms...

4. 6...64 1. 20 Protection of minority shareholders'interests...3. 5...118 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 3...39 3. 02 Gross national savings,%GDP*..

*25.3.41 3. 03 Inflation, annual%change*..*6. 8...115 3. 04 General government debt,%GDP*..

3. 5...84 5. 04 Quality of math and science education...4. 3...59 5. 05 Quality of management schools...

and training services...4. 3...59 5. 08 Extent of staff training...3. 8...89 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 0...74 6. 02 Extent of market dominance...

3. 1...122 6. 05 Total tax rate,%profits*..*50.7.116 Russian Federation 2014 World Economic Forum 2. 1:

Country/Economy Profiles 322 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

105.3.1 Macroeconomic environment...79.4.6 Health and primary education...86.5.5 Efficiency enhancers (35.0%).91.3.8 Higher education and training...

7. 2 Inflation...5. 3 Inefficient government bureaucracy...3. 5 Corruption...2. 5 Policy instability...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 2...41 8. 05 Venture capital availability...3. 1...39 8. 06 Soundness of banks...

6. 4...9 1. 16 Reliability of police services...5. 8...21 1. 17 Ethical behavior of firms...

5. 0...35 1. 20 Protection of minority shareholders'interests...4. 7...34 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 5...62 3. 02 Gross national savings,%GDP*..

*15.7.100 3. 03 Inflation, annual%change*..*4. 2...84 3. 04 General government debt,%GDP*..

4. 0...50 5. 04 Quality of math and science education...4. 1...71 5. 05 Quality of management schools...

and training services...3. 7...96 5. 08 Extent of staff training...4. 0...66 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...78 6. 02 Extent of market dominance...

4. 3...29 6. 05 Total tax rate,%profits*..*29.9.38 Rwanda 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 324 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 30,000 35,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

30.5.2 Macroeconomic environment...4...6. 7 Health and primary education...50.6.0 Efficiency enhancers (47.8%).33.4.6 Higher education and training...

3. 2 Inflation...2. 3 Tax regulations...1. 8 Foreign currency regulations...1. 2 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...27 8. 05 Venture capital availability...3. 4...27 8. 06 Soundness of banks...

6. 4...10 1. 16 Reliability of police services...5. 2...34 1. 17 Ethical behavior of firms...

4. 9...49 1. 20 Protection of minority shareholders'interests...5. 0...22 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*8. 3...6 3. 02 Gross national savings,%GDP*..

*45.5.7 3. 03 Inflation, annual%change*..*3. 5...72 3. 04 General government debt,%GDP*..

4. 1...47 5. 04 Quality of math and science education...4. 1...73 5. 05 Quality of management schools...

and training services...4. 1...73 5. 08 Extent of staff training...4. 1...60 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...40 6. 02 Extent of market dominance...

5. 0...11 6. 05 Total tax rate,%profits*..*14.5.6 Saudi arabia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 326 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

111.2.9 Macroeconomic environment...97.4.3 Health and primary education...131.4.0 Efficiency enhancers (35.0%).102.3.6 Higher education and training...

4. 2 Inflation...3. 5 Crime and theft...2. 9 Insufficient capacity to innovate...2. 9 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...61 8. 05 Venture capital availability...2. 9...53 8. 06 Soundness of banks...

4. 3...96 1. 16 Reliability of police services...4. 6...47 1. 17 Ethical behavior of firms...

4. 7...59 1. 20 Protection of minority shareholders'interests...3. 7...95 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 4...112 3. 02 Gross national savings,%GDP*..

*17.5.86 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..

3. 8...66 5. 04 Quality of math and science education...4. 0...77 5. 05 Quality of management schools...

and training services...4. 4...56 5. 08 Extent of staff training...3. 9...78 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...81 6. 02 Extent of market dominance...

3. 8...61 6. 05 Total tax rate,%profits*..*48.5.107 Senegal 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 328 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

77.3.9 Macroeconomic environment...129.3.5 Health and primary education...68.5.8 Efficiency enhancers (50.0%).80.3.9 Higher education and training...

3. 7 Inflation...3. 3 Inadequately educated workforce...3. 1 Insufficient capacity to innovate...2. 7 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 2...121 8. 05 Venture capital availability...1. 9...132 8. 06 Soundness of banks...

4. 1...106 1. 16 Reliability of police services...3. 8...89 1. 17 Ethical behavior of firms...

3. 8...125 1. 20 Protection of minority shareholders'interests...2. 8...138 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 7...117 3. 02 Gross national savings,%GDP*..

*11.5.125 3. 03 Inflation, annual%change*..*7. 7...124 3. 04 General government debt,%GDP*..

3. 1...106 5. 04 Quality of math and science education...4. 3...53 5. 05 Quality of management schools...

and training services...3. 5...106 5. 08 Extent of staff training...3. 1...134 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 2...128 6. 02 Extent of market dominance...

2. 7...136 6. 05 Total tax rate,%profits*..*36.8.69 Serbia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 330 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 30,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

53.4.5 Macroeconomic environment...57.4.9 Health and primary education...55.6.0 Efficiency enhancers (50.0%).105.3.6 Higher education and training...

1. 7 Inflation...1. 3 Government instability/coups...1. 0 Seychelles Seychelles Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 0...50 8. 05 Venture capital availability...2. 7...62 8. 06 Soundness of banks...

4. 9...61 1. 16 Reliability of police services...4. 1...68 1. 17 Ethical behavior of firms...

4. 9...48 1. 20 Protection of minority shareholders'interests...4. 4...52 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 2...13 3. 02 Gross national savings,%GDP*..

*18.7.77 3. 03 Inflation, annual%change*..*4. 3...87 3. 04 General government debt,%GDP*..

4. 3...37 5. 04 Quality of math and science education...4. 3...57 5. 05 Quality of management schools...

and training services...3. 6...99 5. 08 Extent of staff training...4. 0...67 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 2...127 6. 02 Extent of market dominance...

3. 9...47 6. 05 Total tax rate,%profits*..*25.7.23 Seychelles 2014 World Economic Forum 2. 1:

Country/Economy Profiles 332 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

136.2.1 Macroeconomic environment...117.3.9 Health and primary education...142.3.2 Efficiency enhancers (35.0%).136.3.1 Higher education and training...

6. 0 Inflation...5. 7 Inefficient government bureaucracy...5. 4 Crime and theft...4. 9 Inadequately educated workforce...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 8...130 8. 05 Venture capital availability...1. 8...137 8. 06 Soundness of banks...

4. 0...111 1. 16 Reliability of police services...3. 4...110 1. 17 Ethical behavior of firms...

4. 5...69 1. 20 Protection of minority shareholders'interests...3. 6...103 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 2...56 3. 02 Gross national savings,%GDP*..

*0. 7...140 3. 03 Inflation, annual%change*..*9. 8...135 3. 04 General government debt,%GDP*..

3. 0...112 5. 04 Quality of math and science education...2. 5...134 5. 05 Quality of management schools...

and training services...3. 2...125 5. 08 Extent of staff training...3. 6...107 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 5...116 6. 02 Extent of market dominance...

3. 6...78 6. 05 Total tax rate,%profits*..*32.4.47 Sierra leone 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 334 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 60,000 70,000 80,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

2...6. 5 Macroeconomic environment...15.6.1 Health and primary education...3...6. 7 Efficiency enhancers (50.0%).2...5. 7 Higher education and training...

28.2 Inflation...20.5 Insufficient capacity to innovate...15.2 Inadequately educated workforce...7. 6 Poor work ethic in national labor force...

0. 1 Singapore Singapore Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Singapore Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 5...4 8. 05 Venture capital availability...4. 3...7 8. 06 Soundness of banks...

6. 6...4 1. 16 Reliability of police services...6. 2...8 1. 17 Ethical behavior of firms...

5. 9...5 1. 20 Protection of minority shareholders'interests...5. 5...10 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 9...7 3. 02 Gross national savings,%GDP*..

*44.6.8 3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..

5. 8...4 5. 04 Quality of math and science education...6. 3...1 5. 05 Quality of management schools...

and training services...5. 5...12 5. 08 Extent of staff training...5. 3...7 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 7...20 6. 02 Extent of market dominance...

5. 9...4 6. 05 Total tax rate,%profits*..*27.1.27 Singapore 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 336 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

64.4.2 Macroeconomic environment...45.5.2 Health and primary education...84.5.5 Efficiency enhancers (50.0%).51.4.3 Higher education and training...

0. 2 Inflation...0. 2 Slovak Republic Slovak Republic Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2

2 Transition 2 3 3 Slovak Republic Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 337 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*7...78 6. 07 No. days to start a business*..

3. 3...39 8. 05 Venture capital availability...2. 8...57 8. 06 Soundness of banks...

4. 6...82 1. 16 Reliability of police services...3. 6...106 1. 17 Ethical behavior of firms...

4. 4...83 1. 20 Protection of minority shareholders'interests...3. 8...91 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...73 3. 02 Gross national savings,%GDP*..

*20.6.64 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..

2. 8...125 5. 04 Quality of math and science education...4. 0...75 5. 05 Quality of management schools...

and training services...4. 5...45 5. 08 Extent of staff training...3. 8...90 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...32 6. 02 Extent of market dominance...

3. 2...114 6. 05 Total tax rate,%profits*..*47.2.105 Slovak Republic 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent

Country/Economy Profiles 338 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

35.4.9 Macroeconomic environment...98.4.3 Health and primary education...12.6.5 Efficiency enhancers (50.0%).64.4.2 Higher education and training...

1. 2 Inflation...0. 6 Crime and theft...0. 3 Poor public health...0. 2 Foreign currency regulations...

0. 2 Slovenia Slovenia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Slovenia Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 6...140 8. 05 Venture capital availability...2. 0...125 8. 06 Soundness of banks...

5. 5...41 1. 16 Reliability of police services...4. 9...40 1. 17 Ethical behavior of firms...

3. 7...134 1. 20 Protection of minority shareholders'interests...3. 4...124 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*14.2.143 3. 02 Gross national savings,%GDP*..

*23.6.48 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..

4. 1...48 5. 04 Quality of math and science education...5. 2...15 5. 05 Quality of management schools...

and training services...4. 4...51 5. 08 Extent of staff training...3. 7...98 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...66 6. 02 Extent of market dominance...

2. 8...134 6. 05 Total tax rate,%profits*..*32.5.48 Slovenia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 340 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4

, 000 6, 000 8, 000 10,000 12,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

60.4.3 Macroeconomic environment...89.4.5 Health and primary education...132.4.0 Efficiency enhancers (50.0%).43.4.4 Higher education and training...

2. 1 Inflation...1. 5 Tax regulations...1. 5 Poor public health...1. 2 Tax rates...1. 0 Government instability/coups...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 5...32 8. 05 Venture capital availability...3. 2...37 8. 06 Soundness of banks...

4. 3...99 1. 16 Reliability of police services...3. 6...102 1. 17 Ethical behavior of firms...

6. 0...3 1. 20 Protection of minority shareholders'interests...6. 1...2 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 3...97 3. 02 Gross national savings,%GDP*..

*13.5.119 3. 03 Inflation, annual%change*..*5. 8...102 3. 04 General government debt,%GDP*..

2. 2...140 5. 04 Quality of math and science education...1. 9...144 5. 05 Quality of management schools...

and training services...4. 5...44 5. 08 Extent of staff training...4. 9...18 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...36 6. 02 Extent of market dominance...

4. 3...26 6. 05 Total tax rate,%profits*..*30.1.41 South africa 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 342 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

9...6. 0 Macroeconomic environment...121.3.8 Health and primary education...34.6.3 Efficiency enhancers (50.0%).31.4.7 Higher education and training...

0. 4 Inflation...0. 3 Foreign currency regulations...0. 2 Crime and theft...0. 0 Spain Spain Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Spain Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

unless otherwise annotated with an asterisk(*)*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

The Global Competitiveness Index in detail The Global Competitiveness Report 2014 2015 343 2. 1: Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar:

Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..*10.118 6. 07 No. days to start a business*..

1. 7...132 8. 05 Venture capital availability...2. 3...100 8. 06 Soundness of banks...

5. 5...44 1. 16 Reliability of police services...5. 8...20 1. 17 Ethical behavior of firms...

4. 5...74 1. 20 Protection of minority shareholders'interests...3. 7...94 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 2...128 3. 02 Gross national savings,%GDP*..

*18.9.75 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..

3. 4...88 5. 04 Quality of math and science education...3. 9...85 5. 05 Quality of management schools...

and training services...4. 7...35 5. 08 Extent of staff training...3. 7...96 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 5...35 6. 02 Extent of market dominance...

2. 9...130 6. 05 Total tax rate,%profits*..*58.6.127 Spain 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 344 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2

Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication

75.4.0 Macroeconomic environment...114.4.0 Health and primary education...45.6.1 Efficiency enhancers (50.0%).75.4.0 Higher education and training...

9. 3 Inflation...8. 6 Tax rates...8. 4 Corruption...8. 2 Restrictive labor regulations...7. 1 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...65 8. 05 Venture capital availability...2. 7...66 8. 06 Soundness of banks...

4. 8...67 1. 16 Reliability of police services...3. 7...100 1. 17 Ethical behavior of firms...

5. 1...33 1. 20 Protection of minority shareholders'interests...4. 8...28 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 8...120 3. 02 Gross national savings,%GDP*..

*28.5.28 3. 03 Inflation, annual%change*..*6. 9...117 3. 04 General government debt,%GDP*..

4. 6...22 5. 04 Quality of math and science education...4. 8...29 5. 05 Quality of management schools...

and training services...4. 4...55 5. 08 Extent of staff training...4. 1...56 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 8...16 6. 02 Extent of market dominance...

3. 8...66 6. 05 Total tax rate,%profits*..*55.1.124 Sri lanka 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 346 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

86.3.6 Macroeconomic environment...59.4.8 Health and primary education...73.5.7 Efficiency enhancers (50.0%).121.3.4 Higher education and training...

6. 7 Inflation...3. 9 Tax rates...3. 7 Foreign currency regulations...3. 0 Inadequate supply of infrastructure...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 4...111 8. 05 Venture capital availability...2. 0...126 8. 06 Soundness of banks...

5. 1...58 1. 16 Reliability of police services...4. 4...54 1. 17 Ethical behavior of firms...

3. 8...130 1. 20 Protection of minority shareholders'interests...3. 2...129 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 0...122 3. 02 Gross national savings,%GDP*..

*n/a n/a 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..

2. 9...118 5. 04 Quality of math and science education...3. 8...89 5. 05 Quality of management schools...

and training services...3. 1...130 5. 08 Extent of staff training...3. 7...101 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...98 6. 02 Extent of market dominance...

3. 9...57 6. 05 Total tax rate,%profits*..*27.9.30 Suriname 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 348 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

97.3.3 Macroeconomic environment...60.4.8 Health and primary education...134.3.7 Efficiency enhancers (50.0%).126.3.3 Higher education and training...

5. 5 Inflation...4. 8 Poor work ethic in national labor force...4. 8 Restrictive labor regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...81 8. 05 Venture capital availability...2. 7...74 8. 06 Soundness of banks...

4. 8...68 1. 16 Reliability of police services...4. 6...50 1. 17 Ethical behavior of firms...

4. 5...75 1. 20 Protection of minority shareholders'interests...4. 3...56 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 7...33 3. 02 Gross national savings,%GDP*..

*15.5.102 3. 03 Inflation, annual%change*..*5. 6...99 3. 04 General government debt,%GDP*..

3. 8...64 5. 04 Quality of math and science education...4. 0...78 5. 05 Quality of management schools...

and training services...3. 3...121 5. 08 Extent of staff training...3. 9...79 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 5...115 6. 02 Extent of market dominance...

3. 8...62 6. 05 Total tax rate,%profits*..*36.5.67 Swaziland 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 350 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

22.5.5 Macroeconomic environment...17.6.1 Health and primary education...23.6.4 Efficiency enhancers (50.0%).12.5.2 Higher education and training...

1. 9 Inflation...1. 3 Government instability/coups...1. 1 Poor public health...1. 1 Crime and theft...

1. 0 Sweden Sweden Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Sweden Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 1...10 8. 05 Venture capital availability...4. 2...11 8. 06 Soundness of banks...

5. 6...36 1. 16 Reliability of police services...5. 7...24 1. 17 Ethical behavior of firms...

5. 6...11 1. 20 Protection of minority shareholders'interests...5. 5...9 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 0...36 3. 02 Gross national savings,%GDP*..

*24.3.44 3. 03 Inflation, annual%change*..*0. 0...69 3. 04 General government debt,%GDP*..

4. 6...26 5. 04 Quality of math and science education...4. 4...49 5. 05 Quality of management schools...

and training services...5. 4...15 5. 08 Extent of staff training...5. 1...10 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...41 6. 02 Extent of market dominance...

4. 3...28 6. 05 Total tax rate,%profits*..*52.0.119 Sweden 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 352 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

5...6. 2 Macroeconomic environment...12.6.4 Health and primary education...11.6.5 Efficiency enhancers (50.0%).5...5. 5 Higher education and training...

1. 9 Inflation...0. 7 Government instability/coups...0. 6 Crime and theft...0. 5 Poor public health...

0. 0 Switzerland Switzerland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 Switzerland Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...28 8. 05 Venture capital availability...3. 4...25 8. 06 Soundness of banks...

5. 9...22 1. 16 Reliability of police services...6. 2...5 1. 17 Ethical behavior of firms...

5. 4...19 1. 20 Protection of minority shareholders'interests...4. 7...32 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...24 3. 02 Gross national savings,%GDP*..

*30.7.23 3. 03 Inflation, annual%change*..*0. 2...74 3. 04 General government debt,%GDP*..

6. 0...1 5. 04 Quality of math and science education...5. 9...4 5. 05 Quality of management schools...

and training services...6. 5...1 5. 08 Extent of staff training...5. 7...1 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 7...19 6. 02 Extent of market dominance...

5. 3...7 6. 05 Total tax rate,%profits*..*29.1.35 Switzerland 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 354 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

11.5.8 Macroeconomic environment...23.5.8 Health and primary education...13.6.5 Efficiency enhancers (50.0%).16.5.1 Higher education and training...

4. 3 Inflation...4. 3 Inadequately educated workforce...2. 7 Government instability/coups...2. 5 Access to financing...

0. 0 Taiwan, China Taiwan, China Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2

2 Transition 2 3 3 Taiwan, China Advanced economies 2014 World Economic Forum The Global Competitiveness Index in detail The Global Competitiveness Report 2014

Country/Economy Profiles Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk(*)

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.1 See the Technical Notes and Sources section.

3. 6...26 8. 05 Venture capital availability...3. 9...15 8. 06 Soundness of banks...

5. 8...28 1. 16 Reliability of police services...5. 0...37 1. 17 Ethical behavior of firms...

5. 0...36 1. 20 Protection of minority shareholders'interests...5. 1...20 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 2...80 3. 02 Gross national savings,%GDP*..

*30.9.22 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..

3. 9...56 5. 04 Quality of math and science education...5. 3...14 5. 05 Quality of management schools...

and training services...5. 4...14 5. 08 Extent of staff training...4. 4...41 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 1...2 6. 02 Extent of market dominance...

4. 2...33 6. 05 Total tax rate,%profits*..*35.0.58 Taiwan, China 2014 World Economic Forum 2. 1:

Country/Economy Profiles 356 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

120.2.7 Macroeconomic environment...69.4.7 Health and primary education...83.5.6 Efficiency enhancers (35.0%).111.3.5 Higher education and training...

15.4 Inflation...4. 9 Foreign currency regulations...4. 9 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...22 8. 05 Venture capital availability...3. 2...38 8. 06 Soundness of banks...

4. 8...66 1. 16 Reliability of police services...3. 9...86 1. 17 Ethical behavior of firms...

3. 9...123 1. 20 Protection of minority shareholders'interests...3. 5...112 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 8...34 3. 02 Gross national savings,%GDP*..

*13.7.116 3. 03 Inflation, annual%change*..*5. 0...91 3. 04 General government debt,%GDP*..

3. 8...58 5. 04 Quality of math and science education...3. 8...92 5. 05 Quality of management schools...

and training services...3. 9...81 5. 08 Extent of staff training...3. 7...103 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 3...122 6. 02 Extent of market dominance...

3. 1...123 6. 05 Total tax rate,%profits*..*86.0.141 Tajikistan 2014 World Economic Forum 2. 1:

Country/Economy Profiles 358 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

130.2.3 Macroeconomic environment...109.4.1 Health and primary education...108.4.9 Efficiency enhancers (35.0%).114.3.4 Higher education and training...

6. 7 Inflation...6. 6 Inadequately educated workforce...6. 2 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...86 8. 05 Venture capital availability...2. 6...81 8. 06 Soundness of banks...

4. 7...77 1. 16 Reliability of police services...3. 5...108 1. 17 Ethical behavior of firms...

4. 0...116 1. 20 Protection of minority shareholders'interests...3. 6...106 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 6...115 3. 02 Gross national savings,%GDP*..

*19.9.69 3. 03 Inflation, annual%change*..*7. 9...125 3. 04 General government debt,%GDP*..

3. 0...109 5. 04 Quality of math and science education...2. 4...137 5. 05 Quality of management schools...

and training services...3. 5...109 5. 08 Extent of staff training...3. 5...116 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 3...123 6. 02 Extent of market dominance...

3. 4...96 6. 05 Total tax rate,%profits*..*44.9.101 Tanzania 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 360 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4

, 000 6, 000 8, 000 10,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

48.4.6 Macroeconomic environment...19.6.0 Health and primary education...66.5.8 Efficiency enhancers (50.0%).39.4.5 Higher education and training...

0. 5 Inflation...0. 3 Poor public health...0. 3 Foreign currency regulations...0. 1 Thailand Thailand Emerging

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 6...23 8. 05 Venture capital availability...3. 0...44 8. 06 Soundness of banks...

4. 5...89 1. 16 Reliability of police services...3. 2...113 1. 17 Ethical behavior of firms...

4. 7...60 1. 20 Protection of minority shareholders'interests...4. 9...25 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 2...27 3. 02 Gross national savings,%GDP*..

*28.5.27 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..

3. 4...87 5. 04 Quality of math and science education...3. 9...81 5. 05 Quality of management schools...

and training services...4. 2...69 5. 08 Extent of staff training...4. 4...37 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 4...38 6. 02 Extent of market dominance...

3. 9...54 6. 05 Total tax rate,%profits*..*29.8.37 Thailand 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 362 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market

133.2.1 Macroeconomic environment...49.5.1 Health and primary education...124.4.4 Efficiency enhancers (50.0%).141.2.8 Higher education and training...

1. 1 Inflation...0. 9 Tax regulations...0. 9 Timor-Leste Timor-Leste Emerging and Developing Asia Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3 Stage of development Timor

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...94 8. 05 Venture capital availability...2. 6...76 8. 06 Soundness of banks...

4. 3...98 1. 16 Reliability of police services...3. 6...104 1. 17 Ethical behavior of firms...

3. 3...141 1. 20 Protection of minority shareholders'interests...2. 8...141 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*36.1.1 3. 02 Gross national savings,%GDP*..

*63.1.1 3. 03 Inflation, annual%change*..*10.6.137 3. 04 General government debt,%GDP*..*n/a n/a 3. 05 Country credit rating, 0 100 (best*..

2. 4...136 5. 04 Quality of math and science education...2. 1...141 5. 05 Quality of management schools...

and training services...2. 7...141 5. 08 Extent of staff training...3. 0...136 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...3. 8...138 6. 02 Extent of market dominance...

3. 9...51 6. 05 Total tax rate,%profits*..*11.0.2 Timor-Leste 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent

Country/Economy Profiles 364 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000

15,000 20,000 25,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market

52.4.5 Macroeconomic environment...38.5.4 Health and primary education...59.5.9 Efficiency enhancers (50.0%).81.3.9 Higher education and training...

1. 5 Inflation...0. 9 Poor public health...0. 8 Government instability/coups...0. 5 Tax regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...102 8. 05 Venture capital availability...2. 2...109 8. 06 Soundness of banks...

4. 0...112 1. 16 Reliability of police services...3. 1...117 1. 17 Ethical behavior of firms...

4. 1...110 1. 20 Protection of minority shareholders'interests...3. 5...116 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 3...58 3. 02 Gross national savings,%GDP*..

*24.2.46 46 3. 03 Inflation, annual%change*..*5. 2...93 3. 04 General government debt,%GDP*..

4. 2...44 5. 04 Quality of math and science education...4. 7...35 5. 05 Quality of management schools...

and training services...4. 3...61 5. 08 Extent of staff training...4. 2...51 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...62 6. 02 Extent of market dominance...

4. 4...20 6. 05 Total tax rate,%profits*..*29.1.35 Trinidad and tobago 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 366 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 4, 000

6, 000 8, 000 10,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

79.3.8 Macroeconomic environment...111.4.0 Health and primary education...53.6.0 Efficiency enhancers (50.0%).94.3.7 Higher education and training...

4. 4 Inflation...4. 1 Insufficient capacity to innovate...4. 0 Crime and theft...1. 9 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...70 8. 05 Venture capital availability...2. 7...68 8. 06 Soundness of banks...

4. 2...103 1. 16 Reliability of police services...4. 1...70 1. 17 Ethical behavior of firms...

4. 1...108 1. 20 Protection of minority shareholders'interests...4. 0...82 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 9...121 3. 02 Gross national savings,%GDP*..

*14.9.106 3. 03 Inflation, annual%change*..*6. 1...108 3. 04 General government debt,%GDP*..

3. 7...68 5. 04 Quality of math and science education...4. 7...32 5. 05 Quality of management schools...

and training services...3. 8...89 5. 08 Extent of staff training...3. 7...99 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 8...92 6. 02 Extent of market dominance...

3. 8...69 6. 05 Total tax rate,%profits*..*62.4.129 Tunisia 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 368 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

51.4.6 Macroeconomic environment...58.4.8 Health and primary education...69.5.8 Efficiency enhancers (50.0%).45.4.4 Higher education and training...

4. 4 Inflation...4. 0 Insufficient capacity to innovate...2. 8 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 9...64 8. 05 Venture capital availability...2. 5...90 8. 06 Soundness of banks...

4. 4...90 1. 16 Reliability of police services...3. 6...103 1. 17 Ethical behavior of firms...

4. 4...79 1. 20 Protection of minority shareholders'interests...4. 3...57 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 5...43 3. 02 Gross national savings,%GDP*..

*13.7.117 3. 03 Inflation, annual%change*..*7. 5...122 3. 04 General government debt,%GDP*..

3. 4...89 5. 04 Quality of math and science education...3. 5...98 5. 05 Quality of management schools...

and training services...4. 4...57 5. 08 Extent of staff training...3. 8...91 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 9...11 6. 02 Extent of market dominance...

3. 5...90 6. 05 Total tax rate,%profits*..*40.2.78 Turkey 2014 World Economic Forum 2. 1:

Country/Economy Profiles 370 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

129.2.3 Macroeconomic environment...96.4.4 Health and primary education...122.4.4 Efficiency enhancers (35.0%).110.3.5 Higher education and training...

11.5 Inflation...8. 4 Inefficient government bureaucracy...7. 6 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...93 8. 05 Venture capital availability...2. 2...106 8. 06 Soundness of banks...

4. 1...108 1. 16 Reliability of police services...3. 7...95 1. 17 Ethical behavior of firms...

4. 6...63 1. 20 Protection of minority shareholders'interests...3. 4...123 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 7...87 3. 02 Gross national savings,%GDP*..

*14.7.109 3. 03 Inflation, annual%change*..*5. 4...97 3. 04 General government debt,%GDP*..

3. 6...78 5. 04 Quality of math and science education...3. 1...117 5. 05 Quality of management schools...

and training services...3. 7...98 5. 08 Extent of staff training...3. 6...110 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 2...55 6. 02 Extent of market dominance...

3. 4...94 6. 05 Total tax rate,%profits*..*36.6.68 Uganda 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 372 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6

, 000 9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market

68.4.2 Macroeconomic environment...105.4.1 Health and primary education...43.6.1 Efficiency enhancers (50.0%).67.4.1 Higher education and training...

8. 8 Inflation...8. 0 Tax rates...7. 7 Tax regulations...4. 3 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 6...87 8. 05 Venture capital availability...2. 3...97 8. 06 Soundness of banks...

3. 6...126 1. 16 Reliability of police services...2. 6...135 1. 17 Ethical behavior of firms...

4. 4...86 1. 20 Protection of minority shareholders'interests...2. 8...139 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*4. 5...99 3. 02 Gross national savings,%GDP*..

*6. 0...134 3. 03 Inflation, annual%change*..*0. 3...75 3. 04 General government debt,%GDP*..

3. 7...72 5. 04 Quality of math and science education...4. 8...30 5. 05 Quality of management schools...

and training services...3. 9...84 5. 08 Extent of staff training...3. 8...92 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...101 6. 02 Extent of market dominance...

2. 7...137 6. 05 Total tax rate,%profits*..*54.9.123 Ukraine 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 374 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000

40,000 50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

3...6. 3 Macroeconomic environment...5...6. 6 Health and primary education...38.6.2 Efficiency enhancers (50.0%).14.5.2 Higher education and training...

19.9 Inflation...15.2 Inadequately educated workforce...14.4 Access to financing...13.9 Poor work ethic in national labor force...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

4. 7...3 8. 05 Venture capital availability...4. 4...4 8. 06 Soundness of banks...

6. 8...1 1. 16 Reliability of police services...6. 2...7 1. 17 Ethical behavior of firms...

5. 5...15 1. 20 Protection of minority shareholders'interests...5. 3...16 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*10.1.5 3. 02 Gross national savings,%GDP*..

*38.9.11 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..

5. 3...9 5. 04 Quality of math and science education...5. 3...11 5. 05 Quality of management schools...

and training services...5. 4...17 5. 08 Extent of staff training...5. 1...11 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 0...9 6. 02 Extent of market dominance...

6. 3...2 6. 05 Total tax rate,%profits*..*14.9.7 United arab emirates 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 376 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

10.6.0 Macroeconomic environment...107.4.1 Health and primary education...21.6.4 Efficiency enhancers (50.0%).4...5. 5 Higher education and training...

6. 1 Inflation...1. 4 Corruption...0. 8 Poor public health...0. 8 Crime and theft...

0. 2 United kingdom United kingdom Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 United kingdom Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 7...82 8. 05 Venture capital availability...3. 6...19 8. 06 Soundness of banks...

5. 8...29 1. 16 Reliability of police services...5. 6...26 1. 17 Ethical behavior of firms...

5. 4...17 1. 20 Protection of minority shareholders'interests...5. 3...15 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 8...119 3. 02 Gross national savings,%GDP*..

*11.0.126 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..

4. 6...23 5. 04 Quality of math and science education...4. 3...63 5. 05 Quality of management schools...

and training services...5. 7...7 5. 08 Extent of staff training...4. 7...23 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...6. 1...5 6. 02 Extent of market dominance...

4. 3...25 6. 05 Total tax rate,%profits*..*34.0.54 United kingdom 2014 World Economic Forum Rank Score out of 144)( 1 7) GDP (PPP) per capita (int'l $), 1990 2013 Percent of responses Note:

Country/Economy Profiles 378 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000

50,000 60,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency

12.5.8 Macroeconomic environment...113.4.0 Health and primary education...49.6.1 Efficiency enhancers (50.0%).1...5. 7 Higher education and training...

4. 1 Inflation...4. 0 Inadequate supply of infrastructure...2. 7 Insufficient capacity to innovate...

0. 7 United states Unitedstates Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition

2 3 3 United states Advanced economies 2014 World Economic Forum Notes: Values are on a 1-to-7 scale

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

3. 9...14 8. 05 Venture capital availability...4. 4...3 8. 06 Soundness of banks...

4. 7...73 1. 16 Reliability of police services...5. 7...22 1. 17 Ethical behavior of firms...

5. 4...16 1. 20 Protection of minority shareholders'interests...5. 0...23 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 3...130 3. 02 Gross national savings,%GDP*..

*17.2.87 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..

4. 6...27 5. 04 Quality of math and science education...4. 4...51 5. 05 Quality of management schools...

and training services...5. 6...8 5. 08 Extent of staff training...5. 0...14 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 9...10 6. 02 Extent of market dominance...

4. 1...34 6. 05 Total tax rate,%profits*..*46.3.102 United states 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 380 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000

20,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial

54.4.5 Macroeconomic environment...84.4.5 Health and primary education...58.5.9 Efficiency enhancers (50.0%).72.4.0 Higher education and training...

5. 9 Inflation...5. 4 Poor work ethic in national labor force...4. 9 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 8...69 8. 05 Venture capital availability...2. 6...77 8. 06 Soundness of banks...

6. 0...21 1. 16 Reliability of police services...4. 1...73 1. 17 Ethical behavior of firms...

4. 5...70 1. 20 Protection of minority shareholders'interests...4. 7...37 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 3...57 3. 02 Gross national savings,%GDP*..

*16.0.98 3. 03 Inflation, annual%change*..*8. 6...128 3. 04 General government debt,%GDP*..

2. 9...117 5. 04 Quality of math and science education...2. 9...122 5. 05 Quality of management schools...

and training services...4. 1...75 5. 08 Extent of staff training...3. 9...80 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 7...103 6. 02 Extent of market dominance...

3. 8...60 6. 05 Total tax rate,%profits*..*41.9.88 Uruguay 2014 World Economic Forum Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank Score out of 144)( 1 7) Note:

Country/Economy Profiles 382 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000

9, 000 12,000 15,000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency

121.2.6 Macroeconomic environment...139.3.1 Health and primary education...87.5.5 Efficiency enhancers (38.0%).124.3.3 Higher education and training...

17.6 Inflation...13.0 Policy instability...10.8 Inefficient government bureaucracy...9. 6 Corruption...6. 5 Crime and theft...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 3...113 8. 05 Venture capital availability...2. 1...122 8. 06 Soundness of banks...

2. 7...141 1. 16 Reliability of police services...1. 7...144 1. 17 Ethical behavior of firms...

4. 2...98 1. 20 Protection of minority shareholders'interests...3. 0...132 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*15.1.144 3. 02 Gross national savings,%GDP*..

*26.4.36 3. 03 Inflation, annual%change*..*40.7.144 3. 04 General government debt,%GDP*..*49.8.85 3. 05 Country credit rating, 0 100 (best*..

2. 6...131 5. 04 Quality of math and science education...3. 1...118 5. 05 Quality of management schools...

and training services...3. 1...132 5. 08 Extent of staff training...3. 3...124 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...2. 9...143 6. 02 Extent of market dominance...

2. 8...132 6. 05 Total tax rate,%profits*..*61.7.128 Venezuela 2014 World Economic Forum 2. 1:

Country/Economy Profiles 384 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation

81.3.7 Macroeconomic environment...75.4.7 Health and primary education...61.5.9 Efficiency enhancers (35.0%).74.4.0 Higher education and training...

5. 8 Inflation...5. 6 Tax rates...5. 5 Government instability/coups...3. 7 Foreign currency regulations...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 6...88 8. 05 Venture capital availability...2. 7...71 8. 06 Soundness of banks...

4. 6...78 1. 16 Reliability of police services...3. 7...99 1. 17 Ethical behavior of firms...

3. 8...128 1. 20 Protection of minority shareholders'interests...3. 4...122 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 7...118 3. 02 Gross national savings,%GDP*..

*33.2.17 3. 03 Inflation, annual%change*..*6. 6...113 3. 04 General government debt,%GDP*..

3. 3...94 5. 04 Quality of math and science education...3. 9...82 5. 05 Quality of management schools...

and training services...3. 3...118 5. 08 Extent of staff training...3. 9...85 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 1...65 6. 02 Extent of market dominance...

3. 5...93 6. 05 Total tax rate,%profits*..*35.2.61 Vietnam 2014 World Economic Forum 2. 1:

Country/Economy Profiles 386 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 000 4, 000 5, 000 6, 000 7, 000 8, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment

142.1.9 Macroeconomic environment...140.3.0 Health and primary education...116.4.6 Efficiency enhancers (35.0%).139.2.9 Higher education and training...

2. 5 Inflation...1. 4 Insufficient capacity to innovate...1. 0 Tax rates...0. 7 Poor public health...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 7...133 8. 05 Venture capital availability...1. 7...139 8. 06 Soundness of banks...

3. 3...133 1. 16 Reliability of police services...2. 3...140 1. 17 Ethical behavior of firms...

3. 4...140 1. 20 Protection of minority shareholders'interests...3. 0...134 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*7. 1...127 3. 02 Gross national savings,%GDP*..

*5. 4...135 3. 03 Inflation, annual%change*..*11.1.139 3. 04 General government debt,%GDP*..

1. 9...143 5. 04 Quality of math and science education...2. 3...140 5. 05 Quality of management schools...

and training services...2. 9...136 5. 08 Extent of staff training...3. 2...132 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 3...125 6. 02 Extent of market dominance...

3. 2...112 6. 05 Total tax rate,%profits*..*32.7.50 Yemen 2014 World Economic Forum 2. 1:

Country/Economy Profiles 388 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods

118.2.7 Macroeconomic environment...103.4.2 Health and primary education...118.4.6 Efficiency enhancers (35.0%).86.3.9 Higher education and training...

6. 3 Inflation...4. 6 Policy instability...3. 7 Foreign currency regulations...3. 5 Insufficient capacity to innovate...

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

2. 5...99 8. 05 Venture capital availability...2. 4...95 8. 06 Soundness of banks...

5. 5...47 1. 16 Reliability of police services...4. 0...79 1. 17 Ethical behavior of firms...

4. 9...47 1. 20 Protection of minority shareholders'interests...4. 7...36 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*8. 6...137 3. 02 Gross national savings,%GDP*..

*25.5.38 3. 03 Inflation, annual%change*..*7. 0...119 3. 04 General government debt,%GDP*..

4. 3...36 5. 04 Quality of math and science education...4. 3...62 5. 05 Quality of management schools...

and training services...4. 4...48 5. 08 Extent of staff training...4. 1...63 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...5. 6...25 6. 02 Extent of market dominance...

3. 9...56 6. 05 Total tax rate,%profits*..*15.1.8 Zambia 2014 World Economic Forum 2. 1:

Country/Economy Profiles 390 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank

, 500 2, 000 2, 500 3, 000 1990 1992199419961998200020022004 20062010 2008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training

124.2.5 Macroeconomic environment...87.4.5 Health and primary education...106.5.0 Efficiency enhancers (35.0%).133.3.1 Higher education and training...

0. 0 Inflation...0. 0 Zimbabwe Zimbabwe Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1 2 2 Transition 2 3 3

*For further details and explanation, please refer to the section How to Read the Country/Economy Profiles on page 101.

Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont'd.)6. 06 No. procedures to start a business*..

1. 7...135 8. 05 Venture capital availability...1. 6...140 8. 06 Soundness of banks...

5. 7...31 1. 16 Reliability of police services...3. 0...122 1. 17 Ethical behavior of firms...

4. 3...88 1. 20 Protection of minority shareholders'interests...4. 1...74 1. 21 Strength of investor protection, 0 10 (best*..

Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...26 3. 02 Gross national savings,%GDP*..

*5. 7...143 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..

4. 2...43 5. 04 Quality of math and science education...4. 2...66 5. 05 Quality of management schools...

and training services...3. 5...107 5. 08 Extent of staff training...3. 9...84 6th pillar:

Goods market efficiency 6. 01 Intensity of local competition...4. 9...77 6. 02 Extent of market dominance...

3. 5...88 6. 05 Total tax rate,%profits*..*35.3.62 Zimbabwe 2014 World Economic Forum 2014 World Economic Forum 2. 2data Tables 2014 World Economic Forum 2014 World Economic

refer to Chapter 1. 3. How to Read the Data Tables The following pages provide detailed data for all 144 economies included in The Global Competitiveness Report 2014 2015.

Macroeconomic environment Pillar 4: Health and primary education Pillar 5: Higher education and training Pillar 6: Goods market efficiency Pillar 7:

Innovation RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Finland...6. 4 2 Singapore...

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Italy...

When the year differs from the base year for a particular economy, this is indicated in a footnote.

Because of the nature of data, ties between two or more economies are possible. In such cases, shared rankings are indicated accordingly.

For example, four economies Australia, Hong kong SAR, Portugal, and Singapore all require two and half days to start a business.

RANK COUNTRY/ECONOMY VALUE 1 United states...16,799. 7 2 China...9, 181.4 3 Japan...4, 901.5 4 Germany...

56.3 RANK COUNTRY/ECONOMY VALUE 73 Guatemala...54.4 74 Bulgaria...53.0 75 Costa rica...49.6 76 Ethiopia...

420 1. 16 Reliability of police services...421 1. 17 Ethical behavior of firms...422 1. 18 Strength of auditing

424 1. 20 Protection of minority shareholders'interests...425 1. 21 Strength of investor protection...

Macroeconomic environment...437 3. 01 Government budget balance...438 3. 02 Gross national savings...439 3. 03 Inflation...

440 3. 04 Government debt...441 3. 05 Country credit rating...442 Pillar 4: Health and primary education...

458 5. 04 Quality of math and science education...459 5. 05 Quality of management schools...

461 5. 07 Local availability of specialized research and training services...462 5. 08 Extent of staff training...

465 6. 01 Intensity of local competition...466 6. 02 Extent of market dominance...467 6. 03 Effectiveness of antimonopoly policy...

499 8. 05 Venture capital availability...500 8. 06 Soundness of banks...501 8. 07 Regulation of securities exchanges...

536 2014 World Economic Forum Key indicators Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 United states...

56.3 RANK COUNTRY/ECONOMY VALUE 73 Guatemala...54.4 74 Bulgaria...53.0 75 Costa rica...49.6 76 Ethiopia...

Data Tables 400 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 China...

10.5 RANK COUNTRY/ECONOMY VALUE 73 Dominican republic...10.4 74 Haiti...10.3 75 Hungary...9. 9 76 Sweden...

Data Tables The Global Competitiveness Report 2014 2015 401 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Luxembourg...

7, 026 RANK COUNTRY/ECONOMY VALUE 73 China...6, 747 74 Peru...6, 674 75 South africa...

Data Tables 402 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 United states...

0. 09 RANK COUNTRY/ECONOMY VALUE 73 Serbia...0. 09 74 Kenya...0. 09 75 Tanzania...

Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Finland...

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Italy...

Data Tables 406 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Montenegro...3. 7 74 Kazakhstan...

Data Tables The Global Competitiveness Report 2014 2015 407 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7

3. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Namibia...3. 2 74 Turkey...

Data Tables 408 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 1 7

3. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 1 7 73 Zambia...3. 0 74 Russian Federation...

In each case, the answer ranges from 1 very common to 7 never occurs. 2013 14 weighted average RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Swaziland...3. 8 74 Italy...

Data Tables 410 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7

3. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 El salvador...3. 6 74 Tajikistan...

Data Tables The Global Competitiveness Report 2014 2015 411 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7

3. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 73 Mauritius...3. 0 74 Vietnam...

Data Tables 412 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7

3. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 73 United states...3. 1 74 Algeria...

7=extremely efficient in providing goods and services 2013 14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.

Data Tables The Global Competitiveness Report 2014 2015 413 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7

3. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Philippines...3. 4 74 Ghana...

Data Tables 414 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Morocco...3. 7 74 Panama...

Data Tables The Global Competitiveness Report 2014 2015 415 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7

3. 3 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Morocco...3. 3 74 Cameroon...

Data Tables 416 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Paraguay...3. 9 74 Slovak Republic...

Data Tables The Global Competitiveness Report 2014 2015 417 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 1 7

5. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 1 7 73 Panama...5. 2 74 Canada...

Data Tables 418 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7

4. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Tajikistan...4. 4 74 Romania...

Data Tables The Global Competitiveness Report 2014 2015 419 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7

4. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 United states...4. 7 74 Kazakhstan...

Data Tables 420 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Uruguay...4. 1 74 Algeria...

1. 7 1. 16 Reliability of police services In your country, to what extent can police services be relied upon to enforce law and order?

Data Tables The Global Competitiveness Report 2014 2015 421 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Kenya...3. 9 74 Jamaica...

Data Tables 422 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7

4. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 73 Kuwait...4. 6 74 Gabon...

Data Tables The Global Competitiveness Report 2014 2015 423 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7

4. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 73 El salvador...4. 5 74 Spain...

Data Tables 424 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Kuwait...4. 1 74 Zimbabwe...

2. 4 1. 20 Protection of minority shareholders'interests In your country, to what extent are the interests of minority shareholders protected by the legal system?

Data Tables The Global Competitiveness Report 2014 2015 425 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 New zealand...

5. 3 RANK COUNTRY/ECONOMY VALUE 68 Guyana...5. 3 68 Jamaica...5. 3 68 Kuwait...

Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables 426 The Global Competitiveness Report 2014 2015 2014 World Economic Forum Pillar 2 Infrastructure Data Tables 2014 World Economic

Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Switzerland...6. 6 2 Hong kong SAR...

4. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Slovak Republic...4. 2 74 Russian Federation...

Data Tables 428 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Côte d'ivoire...3. 9 74 Norway...

Data Tables The Global Competitiveness Report 2014 2015 429 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7

2. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7 73 Chile...2. 5 74 Thailand...

N/Appl. is used for economies where there is no regular train service or where the network covers only a negligible portion of the territory.

Data Tables 430 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Lebanon...4. 1 74 Guatemala...

Data Tables The Global Competitiveness Report 2014 2015 431 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7

4. 3 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Rwanda...4. 3 74 Montenegro...

Data Tables 432 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 United states...

152.1 RANK COUNTRY/ECONOMY VALUE 73 Jamaica...145.0 74 Angola...130.5 75 Hungary...127.8 76 Costa rica...

Data Tables The Global Competitiveness Report 2014 2015 433 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7

4. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Russian Federation...4. 8 74 Sri lanka...

Data Tables 434 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...

112.0 72 Korea, Rep...111.0 RANK COUNTRY/ECONOMY VALUE 73 Belgium...110.9 74 Namibia...110.2 75 Slovenia...

Data Tables The Global Competitiveness Report 2014 2015 435 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Taiwan, China...

15.8 RANK COUNTRY/ECONOMY VALUE 73 Malaysia...15.3 74 Panama...15.2 75 Kuwait...15.1 76 El salvador...

Data Tables 436 The Global Competitiveness Report 2014 2015 2014 World Economic Forum Pillar 3 Macroeconomic environment Data Tables 2014 World

Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Timor-Leste...36.1 2 Kuwait...28.9 3 Qatar...

3. 0 RANK COUNTRY/ECONOMY VALUE 73 Slovak Republic...3. 0 74 Canada...3. 0 75 Panama...

Data Tables 438 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Timor-Leste1...

19.5 72 Georgia...19.4 RANK COUNTRY/ECONOMY VALUE 73 Lithuania...19.3 74 Madagascar...19.2 75 Spain...

Data Tables The Global Competitiveness Report 2014 2015 439 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Ireland...

4. 2 RANK COUNTRY/ECONOMY VALUE 86 Hong kong SAR...4. 3 87 Seychelles...4. 3 88 Guatemala...

0. 9 3. 03 Inflation Annual percent change in consumer price index (year average) 2013 SOURCES: International monetary fund, World Economic Outlook Database (April 2014 edition;

For inflation rates between 0. 5 and 2. 9 percent, a country receives the highest possible score of 7. Outside this range,

The Philippines has an inflation rate of 2. 93 and therefore falls out of this range. 2. 2:

Data Tables 440 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Libya...

43.2 RANK COUNTRY/ECONOMY VALUE 73 Mozambique...43.3 74 Bahrain...43.9 75 Tunisia...44.4 76 Denmark...

Data Tables The Global Competitiveness Report 2014 2015 441 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Norway...

45.3 RANK COUNTRY/ECONOMY VALUE 73 Tunisia...44.4 74 Guatemala...44.4 75 Gabon...43.1 76 Jordan...

Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Egypt...0. 0 1 Georgia...0. 0 1 Kyrgyz Republic...

27,774. 0 RANK COUNTRY/ECONOMY VALUE 73 Nigeria...28,430. 3 74 Gambia, The...29,030. 4 75 Burkina faso...

M. F. indicates that the economy was declared free of malaria by the World health organization (WHO), except in the case of Hong kong SAR and Puerto rico,

S l. means the economy was added to THE WHO's supplementary list of areas where malaria has existed never

Data Tables 444 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7

3. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7 73 Timor-Leste...2. 9 74 Sierra leone...

This indicator does not apply to economies free of malaria and for which N/Appl. is used. 2. 2:

Data Tables The Global Competitiveness Report 2014 2015 445 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Barbados...

49.4 RANK COUNTRY/ECONOMY VALUE 73 Singapore...50.0 74 Armenia...52.0 75 Latvia...53.0 76 Burkina faso...

Data Tables 446 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 4 7

5. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 4 7 73 Tunisia...5. 6 74 Iran, Islamic Rep...5. 6 75 Russian Federation...

Data Tables The Global Competitiveness Report 2014 2015 447 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Albania1...

0. 3 RANK COUNTRY/ECONOMY VALUE 59 Tajikistan...0. 3 59 United Kingdom3...0. 3 75 Argentina...

Economies with a prevalence rate equal to or less than 0. 2 percent (using non-rounded rates) are ranked all first,

Data Tables 448 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 3 7

5. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 3 7 73 Czech republic...5. 5 74 Cape verde...

Data Tables The Global Competitiveness Report 2014 2015 449 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...

14.1 RANK COUNTRY/ECONOMY VALUE 73 Jamaica...14.4 74 Armenia...14.7 75 Albania...15.0 76 Colombia...

Data Tables 450 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...

74.1 72 Georgia...73.9 RANK COUNTRY/ECONOMY VALUE 73 Lithuania...73.9 74 Latvia...73.8 75 Colombia...

Data Tables The Global Competitiveness Report 2014 2015 451 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Oman...3. 8 74 Greece...

Data Tables 452 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Singapore...

93.8 RANK COUNTRY/ECONOMY VALUE 73 Peru9...93.7 74 Zambia...93.7 75 Hong kong SAR...93.5 76 El salvador...

Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Australia...135.5 2 Spain...

89.0 RANK COUNTRY/ECONOMY VALUE 73 Hong kong SAR...88.7 74 Jamaica11...88.6 75 Moldova...88.2 76 Kyrgyz Republic11...

Data Tables 456 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Greece11...

36.0 RANK COUNTRY/ECONOMY VALUE 73 Tunisia...35.2 74 Paraguay10...34.5 75 Dominican Republic11...34.1 76 Bahrain...

Data Tables The Global Competitiveness Report 2014 2015 457 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Korea, Rep...3. 6 74 Ethiopia...

1. 9 5. 03 Quality of the education system How well does the education system in your country meet the needs of a competitive economy?

Data Tables 458 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Saudi arabia...4. 1 74 Czech republic...

1. 9 5. 04 Quality of math and science education In your country, how would you assess the quality of math and science education?

Data Tables The Global Competitiveness Report 2014 2015 459 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Korea, Rep...4. 2 74 Romania...

Data Tables 460 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7

4. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Montenegro...4. 2 74 Seychelles...

Data Tables The Global Competitiveness Report 2014 2015 461 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Saudi arabia...4. 1 74 Dominican republic...

2. 5 5. 07 Local availability of specialized research and training services In your country, to what extent are specialized high-quality

training services available? 1=not available at all; 7=widely available 2013 14 weighted average SOURCE:

Data Tables 462 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Mongolia...4. 0 74 Mexico...

efficiency Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 0 7 1 Japan...

5. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 0 7 73 Oman...5. 0 74 Russian Federation...

2. 6 6. 01 Intensity of local competition In your country, how intense is competition in the local markets?

Data Tables 466 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 7 72 Iran, Islamic Rep...3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Tajikistan...

Data Tables The Global Competitiveness Report 2014 2015 467 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Barbados...4. 0 74 Cambodia...

2. 0 6. 03 Effectiveness of antimonopoly policy In your country, to what extent does antimonopoly policy promote competition?

1=does not promote competition; 7=effectively promotes competition 2013 14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.

For more details, refer to Chapter 1. 3 of this Report. 2. 2: Data Tables 468 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

1 Bahrain...6. 5 2 United arab emirates...6. 3 3 Qatar...6. 2 4 Singapore...5. 9 5 Oman...

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Barbados...3. 7 74 Australia...

Data Tables The Global Competitiveness Report 2014 2015 469 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Macedonia, FYR...

38.1 RANK COUNTRY/ECONOMY VALUE 73 Armenia...38.8 74 Honduras...39.2 75 Netherlands...39.3 76 Finland...

283.2 6. 05 Total tax rate This variable is a combination of profit tax(%of profits),

labor tax and contribution(%of profits), and other taxes(%of profits) 2013 SOURCE: World bank/International finance corporation, Doing Business 2014:

Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables 470 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Canada...

1 1 New zealand...1 3 Armenia...2 3 Georgia...2 3 Kyrgyz Republic...2 3 Macedonia, FYR...

2 3 Madagascar...2 3 Rwanda...2 3 Slovenia...2 10 Australia...3 10 Azerbaijan...

6 RANK COUNTRY/ECONOMY VALUE 57 Ukraine...6 57 United arab emirates...6 57 United kingdom...6 57 United states...

Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables The Global Competitiveness Report 2014 2015 471 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 New zealand...

0. 5 2 Georgia...2. 0 2 Macedonia, FYR...2. 0 2 Rwanda...2. 0 5 Australia...

14.0 69 Honduras...14.0 RANK COUNTRY/ECONOMY VALUE 69 Israel...14.0 74 Germany...14.5 75 Cameroon...

Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables 472 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

1 New zealand...6. 1 2 Malaysia...5. 2 3 United arab emirates...5. 0 4 Luxembourg...5. 0 5 Gambia, The...

3. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Israel...3. 8 74 France...

1=excessively burdensome for the economy; 7=balances well the interests of taxpayers, consumers and producers 2013 14 weighted average SOURCE:

Data Tables The Global Competitiveness Report 2014 2015 473 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7

4. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Macedonia, FYR...4. 4 74 Guyana...

Data Tables 474 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR8...

5. 3 72 Yemen...5. 7 RANK COUNTRY/ECONOMY VALUE 73 Tajikistan...5. 7 74 Haiti8...

Data Tables The Global Competitiveness Report 2014 2015 475 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7

4. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Senegal...4. 5 74 Trinidad and tobago...

Data Tables 476 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7

4. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Jordan...4. 4 74 Montenegro...

or discourage foreign direct investment (FDI)? 1=strongly discourage fdi; 7=strongly encourage fdi 2013 14 weighted average SOURCE:

Data Tables The Global Competitiveness Report 2014 2015 477 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Peru...4. 0 74 Thailand...

Data Tables 478 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...

47.5 RANK COUNTRY/ECONOMY VALUE 73 Bahrain2...47.1 74 Poland...45.9 75 Kenya2...45.5 76 Tanzania...

14.9 6. 14 Imports as a percentage of GDP Imports of goods and services as a percentage of gross domestic product 2013 or most recent year available SOURCES:

Time series on Merchandise and Commercial Services (accessed July 02,2014; International monetary fund, World Economic Outlook Database (April 2014 edition;

Data Tables The Global Competitiveness Report 2014 2015 479 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7

4. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Ghana...4. 5 74 Madagascar...

2. 4 6. 15 Degree of customer orientation In your country, how well do companies treat customers?

7=highly responsive to customers and seek customer retention 2013 14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.

Data Tables 480 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Ukraine...3. 4 74 Zambia...

Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 1 Switzerland...

4. 3 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Guyana...4. 3 74 Cambodia...

Data Tables 484 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 9 7

5. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 9 7 73 Jordan...5. 0 74 Ethiopia...

Data Tables The Global Competitiveness Report 2014 2015 485 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Tanzania...3. 9 74 Honduras...3. 9 75 Kuwait...

Data Tables 486 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Denmark...

15.3 RANK COUNTRY/ECONOMY VALUE 73 Brazil...15.4 74 Tajikistan...15.5 75 India...15.8 76 Burundi...

Understanding Regulations for Small and Medium-Size Enterprises; World Economic Forum's calculations 2. 2:

Data Tables The Global Competitiveness Report 2014 2015 487 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7

3. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Finland...3. 6 74 Uganda...

Data Tables 488 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7

3. 9 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Finland...3. 9 74 Montenegro...

Data Tables The Global Competitiveness Report 2014 2015 489 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Portugal...4. 2 74 Slovak Republic...

Data Tables 490 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Mozambique...3. 4 74 Colombia...

1=the best and brightest leave to pursue opportunities in other countries; 7=the best and brightest stay and pursue opportunities in the country 2013 14 weighted average SOURCE:

World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report. 2. 2:

Data Tables The Global Competitiveness Report 2014 2015 491 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Lao PDR...3. 4 74 Vietnam...

Data Tables 492 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Malawi...

0. 80 RANK COUNTRY/ECONOMY VALUE 73 Slovak Republic...0. 80 74 Czech republic...0. 80 75 Peru...

development Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Switzerland...

4. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Mexico...4. 3 74 Zambia...

2. 1 8. 01 Availability of financial services In your country, to what extent does the financial sector provide a wide range of financial products and services to businesses?

Data Tables 496 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Nepal...

Data Tables The Global Competitiveness Report 2014 2015 497 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Rwanda...3. 4 74 Macedonia, FYR...

Data Tables 498 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 9 7

2. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 9 7 73 Puerto rico...2. 8 74 Iceland...

1. 4 8. 04 Ease of access to loans In your country, how easy is it to obtain a bank loan with only a good business plan and no collateral?

Data Tables The Global Competitiveness Report 2014 2015 499 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 8 7

2. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 8 7 73 Lithuania...2. 7 74 Swaziland...

1. 5 8. 05 Venture capital availability In your country, how easy is it for entrepreneurs with innovative

but risky projects to find venture capital? 1=extremely difficult; 7=extremely easy 2013 14 weighted average SOURCE:

Data Tables 500 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7

4. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 Hungary...4. 8 74 Malawi...

Data Tables The Global Competitiveness Report 2014 2015 501 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Rwanda...4. 0 74 Malawi...

Data Tables 502 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Australia...

6 RANK COUNTRY/ECONOMY VALUE 63 Gabon...6 63 Guinea...6 63 Lesotho...6 63 Mali...

Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables The Global Competitiveness Report 2014 2015 503 2014 World Economic Forum 2014 World Economic Forum Pillar 9 Technological readiness

Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 1 Finland...

4. 8 72 Honduras...4. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 Gambia, The...

Data Tables 506 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7

4. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7 73 Côte d'ivoire...4. 6 74 Greece...

Data Tables The Global Competitiveness Report 2014 2015 507 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7

4. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Korea, Rep...4. 6 74 Senegal...

2. 7 9. 03 FDI and technology transfer To what extent does foreign direct investment (FDI) bring new technology into your country?

Data Tables 508 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Iceland...

46.3 RANK COUNTRY/ECONOMY VALUE 73 Costa rica...46.0 74 Dominican republic...45.9 75 China...45.8 76 Jordan...

Data Tables The Global Competitiveness Report 2014 2015 509 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Switzerland...

7. 4 RANK COUNTRY/ECONOMY VALUE 73 Saudi arabia...7. 3 74 Venezuela...7. 3 75 Suriname...

Data Tables 510 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Luxembourg...

26.3 RANK COUNTRY/ECONOMY VALUE 73 Myanmar...26.2 74 Bahrain...25.9 75 Hungary...24.9 76 Mauritius...24.4 77 Seychelles...

Data Tables The Global Competitiveness Report 2014 2015 511 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Singapore...

25.4 RANK COUNTRY/ECONOMY VALUE 73 Panama...25.2 74 South Africa2...25.2 75 Albania...24.7 76 Montenegro...

Economic Forum RANK COUNTRY/ECONOMY VALUE 1 United states...7. 0 2 China...6. 8 3 India...

3. 5 RANK COUNTRY/ECONOMY VALUE 73 Serbia...3. 4 74 Kuwait...3. 4 75 Azerbaijan...

1. 0 10.01 Domestic market size index Sum of gross domestic product plus value of imports of goods and services,

minus value of exports of goods and services, normalized on a 1 7 (best) scale 2013 SOURCE:

Data Tables 514 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 China...

4. 4 RANK COUNTRY/ECONOMY VALUE 73 Panama...4. 4 74 Serbia...4. 4 75 Croatia...

and services, normalized on a 1 7 (best) scale 2013 SOURCE: World Economic Forum's calculations.

Data Tables The Global Competitiveness Report 2014 2015 515 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 United states...

88.5 RANK COUNTRY/ECONOMY VALUE 73 Guatemala...81.8 74 Serbia...81.1 75 Kenya...80.4 76 Tanzania...

Data Tables 516 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...

37.3 RANK COUNTRY/ECONOMY VALUE 73 Chad2...37.3 74 Ghana...36.7 75 Cape verde...36.5 76 Georgia...36.3 77 Nigeria...

1. 0 10.04 Exports as a percentage of GDP Exports of goods and services as a percentage of gross domestic product 2013 or most recent year available SOURCES:

Data Tables 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Japan...

4. 6 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Slovenia...4. 6 74 New zealand...

Data Tables 520 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7

4. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Jamaica...4. 4 74 Senegal...

Data Tables The Global Competitiveness Report 2014 2015 521 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Gambia, The...3. 8 74 Barbados...

2. 4 11.03 State of cluster development In your country, how widespread are developed well and deep clusters (geographic concentrations of firms, suppliers, producers of related products and services,

Data Tables 522 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Colombia...3. 4 74 Senegal...

Data Tables The Global Competitiveness Report 2014 2015 523 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Greece...3. 7 74 Gambia, The...

Data Tables 524 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Russian Federation...4. 0 74 Guyana...

Data Tables The Global Competitiveness Report 2014 2015 525 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

3. 8 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Macedonia, FYR...3. 8 74 Zambia...

Data Tables 526 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7

4. 2 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Senegal...4. 1 74 Pakistan...

Data Tables The Global Competitiveness Report 2014 2015 527 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 7 72 Honduras...3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Chile...

Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 Switzerland...5. 9 2 United states...

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Nigeria...3. 7 74 Dominican republic...

Data Tables 530 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7

3. 7 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Ghana...3. 7 74 Uruguay...

Data Tables The Global Competitiveness Report 2014 2015 531 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7

3. 1 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7 73 Albania...3. 1 74 Latvia...

Data Tables 532 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7

3. 5 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Poland...3. 5 74 Ukraine...

Data Tables The Global Competitiveness Report 2014 2015 533 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7

3. 4 RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Australia...3. 4 74 Kazakhstan...

Data Tables 534 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7

4. 0 RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Mongolia...4. 0 74 Rwanda...

Data Tables The Global Competitiveness Report 2014 2015 535 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Switzerland...

1. 0 RANK COUNTRY/ECONOMY VALUE 73 Moldova...0. 8 74 Jamaica...0. 6 75 Azerbaijan...

7=extremely efficient in providing goods and services 2013 14 weighted average Source: World Economic Forum, Executive Opinion Survey 2014 World Economic Forum Technical Notes and Sources 538 The Global Competitiveness Report 2014 2015 1

World Economic Forum, Executive Opinion Survey 1. 16 Reliability of police services In your country, to what extent can police services be relied upon to enforce law and order?

World Economic Forum, Executive Opinion Survey 1. 20 Protection of minority shareholders'interests In your country, to what extent are the interests of minority shareholders protected by the legal system?

and the Ease of shareholder suit index (shareholders'ability to sue officers and directors for misconduct).

Understanding Regulations for Small and Medium-Size Enterprises Pillar 2: Infrastructure 2. 01 Quality of overall infrastructure How would you assess general infrastructure (e g.,

This indicator does not apply to economies where there is no regular train service or where the network covers only a negligible portion of the territory.

Subscriptions to public mobile data services private trunked mobile radio, telepoint or radio paging, and telemetry services are excluded also.

It includes all mobile cellular subscriptions that offer voice communications. Source: International Telecommunication Union, ITU World Telecommunication/ICT Indicators Database 2014 (June 2014 edition) 2. 09 Fixed telephone lines Number of active fixed

telephone lines per 100 population 2013 A fixed telephone line is an active line connecting the subscriber's terminal equipment to the public switched telephone network (PSTN) that has dedicated a port in the telephone exchange equipment.

Macroeconomic environment 3. 01 Government budget balance General government budget balance as a percentage of GDP 2013 General government budget balance is calculated as general government revenue minus total expenditure.

either putting financial resources at the disposal of other sectors in the economy and nonresidents (net lending),

This balance may be viewed as an indicator of the financial impact of general government activity on the rest of the economy and nonresidents.

National savings equals gross domestic investment plus the current-account balance. Sources: International monetary fund, World Economic Outlook Database (April 2014 edition;

national sources 3. 03 Inflation Annual percent change in consumer price index (year average) 2013 For inflation rates between 0. 5 and 2. 9 percent,

except for equity and investment fund shares, financial derivatives, and employee stock options. For Australia, Belgium, Canada, Hong kong SAR, Iceland, New zealand,

information by senior economists and sovereign-debt analysts at leading global banks and money management and security firms.

Health and primary education 4. 01 Malaria incidence Estimated number of malaria cases per 100,000 population 2012 This indicator refers to the estimated number of new cases of malaria in the economy

7=no impact at all 2013 14 weighted average This indicator does not apply to economies considered free of malaria

national sources 5. 03 Quality of the education system How well does the education system in your country meet the needs of a competitive economy?

World Economic Forum, Executive Opinion Survey 5. 04 Quality of math and science education In your country, how would you assess the quality of math and science education?

World Economic Forum, Executive Opinion Survey 5. 07 Local availability of specialized research and training services In your country, to what extent are specialized high-quality

training services available? 1=not available at all; 7=widely available 2013 14 weighted average Source:

Goods market efficiency 6. 01 Intensity of local competition In your country, how intense is competition in the local markets?

World Economic Forum, Executive Opinion Survey 6. 03 Effectiveness of antimonopoly policy In your country, to what extent does antimonopoly policy promote competition?

1=does not promote competition; 7=effectively promotes competition 2013 14 weighted average Source: World Economic Forum, Executive Opinion Survey 6. 04 Effect of taxation on incentives to invest In your country,

to what extent do taxes reduce the incentive to invest? 1=significantly reduce the incentive to invest;

World Economic Forum, Executive Opinion Survey 6. 05 Total tax rate This indicator is a combination of profit tax(%of profits),

labor tax and contribution(%of profits), and other taxes(%of profits) 2013 The total tax rate measures the amount of taxes

and mandatory contributions payable by a business in the second year of operation, expressed as a share of commercial profits.

The total amount of taxes is the sum of five different types of taxes and contributions payable after accounting for deductions and exemptions:

profit or corporate income tax, social contributions and labor taxes paid by the employer, property taxes, turnover taxes,

Understanding Regulations for Small and Medium-Size Enterprises 6. 06 Number of procedures required to start a business Number of procedures required to start a business 2013 For details about the methodology employed

Understanding Regulations for Small and Medium-Size Enterprises 6. 07 Time required to start a business Number of days required to start a business 2013 For details about the methodology employed

Understanding Regulations for Small and Medium-Size Enterprises 2014 World Economic Forum Technical Notes and Sources 542 The Global Competitiveness Report 2014 2015 6

1=excessively burdensome for the economy; 7=balances well the interests of taxpayers, consumers and producers 2013 14 weighted average Source:

or discourage foreign direct investment (FDI)? 1=strongly discourage FDI; 7=strongly encourage FDI 2013 14 weighted average Source:

World Economic Forum, Executive Opinion Survey 6. 14 Imports as a percentage of GDP Imports of goods and services as a percentage of gross domestic product 2013 Total imports is the sum

of total imports of merchandise and commercial services. Sources: World trade organization, Statistical Database: Time series on Merchandise and Commercial Services (accessed July 02,2014;

International monetary fund, World Economic Outlook Database (April 2014 edition; national sources 6. 15 Degree of customer orientation In your country, how well do companies treat customers?

1=indifferent to customer satisfaction; 7=highly responsive to customers and seek customer retention 2013 14 weighted average Source:

World Economic Forum, Executive Opinion Survey 6. 16 Buyer sophistication In your country, how do buyers make purchasing decisions?

Understanding Regulations for Small and Medium-Size Enterprises; World Economic Forum's calculations 7. 05 Effect of taxation on incentives to work In your country, to what extent do taxes reduce the incentive to work?

1=the best and brightest leave to pursue opportunities in other countries; 7=the best and brightest stay and pursue opportunities in the country 2013 14 weighted average Source:

World Economic Forum, Executive Opinion Survey For more details, refer to Chapter 1. 3 of this Report 2014 World Economic Forum Technical Notes

Financial market development 8. 01 Availability of financial services In your country, to what extent does the financial sector provide a wide range of financial products and services to businesses?

World Economic Forum, Executive Opinion Survey 8. 04 Ease of access to loans In your country, how easy is it to obtain a bank loan with only a good business plan and no collateral?

World Economic Forum, Executive Opinion Survey 8. 05 Venture capital availability In your country, how easy is it for entrepreneurs with innovative

but risky projects to find venture capital? 1=extremely difficult; 7=extremely easy 2013 14 weighted average Source:

Understanding Regulations for Small and Medium-Size Enterprises Pillar 9: Technological readiness 9. 01 Availability of latest technologies In your country, to what extent are the latest technologies available?

World Economic Forum, Executive Opinion Survey 9. 03 FDI and technology transfer To what extent does foreign direct investment (FDI) bring new technology into your country?

Market size 10.01 Domestic market size index Sum of gross domestic product plus value of imports of goods and services,

minus value of exports of goods and services, normalized on a 1 7 (best) scale 2013 The size of the domestic market is calculated as the natural log of the sum of the gross domestic product valued at PPP plus the total value (PPP

estimates) of imports of goods and services, minus the total value (PPP estimates) of exports of goods and services.

and services, normalized on a 1 7 (best) scale 2013 The size of the foreign market is estimated as the natural log of the total value (PPP estimates) of exports of goods

and services, normalized on a 1 7 scale. PPP estimates of exports are obtained by taking the product of exports as a percentage of GDP and GDP valued at PPP.

national sources 10.04 Exports as a percentage of GDP Exports of goods and services as a percentage of gross domestic product 2013 Total exports is the sum of total exports of merchandise and commercial services.

products and services, and specialized institutions in a particular field)? 1=nonexistent; 7=widespread in many fields 2013 14 weighted average Source:

In the absence of reliable data on PCT applications for Taiwan (China) and Hong kong SAR, two advanced economies that are not signatories of the Treaty

For the computation of the two averages, only economies with a two-year average number of at least 100 USPTO applications

The estimates are used in the computation of the respective Innovation pillar scores of the two economies.

and Senior Economist with The Global Competitiveness and Benchmarking Network at the World Economic Forum.

In addition, he analyzes the role of innovation and information and communication technologies in fostering competitiveness,

Dr Bilbao-Osorio holds a degree in Economics from the Universidad Comercial de Deusto (Spain), a Master in European Studies from the Université Catholique de Louvain (Belgium),

Her areas of expertise include new institutional economics, development policy, inequality, and inclusive growth. She holds a Bachelor's degree in Economics and History from Barnard College/Columbia University in New york and a Master in Political economy from the London School of economics (UK).

) Roberto Crotti Roberto Crotti is an Economist with The Global Competitiveness and Benchmarking Network at the World Economic Forum.

His responsibilities include the computation and management of a range of indexes as well as data analysis for various projects and studies.

and development economics. Prior to joining the Forum, he worked as an Analyst in the private consulting and forecasting sector.

Mr Crotti holds a five-year degree in Economics/Economic policy from Università Cattolica del Sacro Cuore in Milan, Italy,

and an MA in Economics from Boston University. Attilio Di Battista Attilio Di Battista is a Junior Quantitative Economist with The Global Competitiveness

and Benchmarking Network at the World Economic Forum. He works on the development and computation of a range of indexes and on the analysis of data for the elaboration of various reports.

His areas of expertise include international trade and competitiveness, institutions and development, investment flows, and financial stability.

and trade competitiveness analysis. He has a Bachelor's degree in International and Diplomatic Sciences from Università degli Studi di Trieste in Gorizia and a Master in International Economics from the Graduate Institute of International and Development

where he conducted research on the attractiveness of Italian provinces for foreign direct investments, focusing on the role of institutions

Lead Economist, and Head of The Global Competitiveness and Benchmarking Network at the World Economic Forum.

Dr Drzeniek Hanouz received a Diploma in Economics from the University of Münster and holds a Phd in International Economics from the University of Bochum

Caroline Galvan Caroline Galvan is an Economist and Senior Manager with The Global Competitiveness and Benchmarking Network at the World Economic Forum.

she worked for an economic policy consultancy in the United kingdom, where she analyzed economic and financial policies in Central and Eastern europe and Central asia.

She holds an undergraduate degree in Economics from the University of Groningen and an MSC in Economics and Finance from the University of Tilburg, both in The netherlands.

and Senior Economist with The Global Competitiveness and Benchmarking Network at the World Economic Forum.

A Swiss national, Mr Geiger holds a BA in Economics from the University of Geneva, an MA in Economics from the University of British columbia,

and projects to address the challenges of inclusive social and economic growth; built relationships with C-suite executives of partner companies;

His research interests include economic growth, macroeconomics, public finance and social security, health and population economics monetary economics, poverty, inequality, estimation of the world distribution of income,

and measuring competitiveness. He is a consultant on growth and competitiveness for a number of countries, international institutions, and corporations.

He earned his MA and Phd, both in Economics, from Harvard university. He collaborates closely with the World Economic Forum in his capacity as Chief Advisor to The Global Competitiveness

she worked at the United nations Environment Programme Finance Initiative (UNEP FI), where she was responsible for organizing the biannual Global Roundtable on Sustainable Finance.

when the global economy finally seems to be recovering from the worst financial and economic crisis the world has seen in decades.

But current economic growth needs to be strengthened if it is to be robust, generate more productive jobs,

and ensure inclusive growth. Potential risks going forward concern the possible tightening of financial conditions that may follow a normalization of the monetary policy in the United states and other advanced economies

a strained geopolitical scenario, and internal social tensions linked to rising inequality in large economies that could have global consequences.

In the current context, if recovery is to strengthen and generate the high-quality jobs that societies need

The Global Competitiveness Report 2014 2015 aims to support these stakeholders in establishing a collaborative approach and identifying assets on

The Global Competitiveness Report 2014 2015 offers users a unique dataset on a broad array of competitiveness indicators for 144 economies.

The Report contains detailed profiles highlighting competitive strengths and weaknesses for each of the 144 economies featured,

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