Acknowledgements 5 Executive Summary 7 1. Introduction 8 2. City Competitiveness in the Global economy: Megatrends 12 3. City Competitiveness:
and How to Reform 56 Members of the Global Agenda Council on Competitiveness 2012-2014 As leaders look for ways to make their economies more competitive
and Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance and Financial services, Canada. Special thanks go to Margareta Drzeniek Hanouz, Head of the Global Competitiveness team,
and Clément Gignac, Senior vice-president and Chief Economist, Industrial Alliance Insurance and Financial services, Canada as well as Council member Orlando Ayala, Chairman of Emerging Markets, Microsoft Corporation, USA, sparked the idea
the Economic policy and Research Foundation of Turkey (TEPAV) for the Manisa mini case study; and Amit Kapoor, President and Chief executive officer, India Council on Competitiveness,
Productivity is about the efficient use of available resources that drives economic growth. But productivity has to be maintained sustainable beyond the short term
Windows of opportunity Cities should look out for opportunities, often during a political or economic crisis, to push through the required number of decisive reforms (as Singapore
Developing own foreign economic policies Cities should create their own policies on trade foreign direct investment, tourism and attracting foreign talent,
and Hong kong SAR's mass transit system. 4. Soft connectivity Soft connectivity, the city's social capital, is as important as hard connectivity in the 21st century's knowledge economy
such as the Global City Competitiveness Index of the Economist Intelligence Unit, A t. Kearney's Global Cities Index, Citylab's Global Economic Power Index and the Mori Memorial Foundation
and can be useful to city leaders elsewhere. 8 A Report of the Global Agenda Council on Competitiveness 2. City Competitiveness in the Global economy:
David Ricardo, in a letter to his fellow economist Thomas Robert Malthus, spoke of the wealth and poverty of nations the grandest of all questions in political economy.
Jane Jacobs. More than ever, cities are the lifeblood of the global economy. Their competitiveness increasingly determines the wealth and poverty of nations, regions and the world.
For most people, the map of the global economy that comes to mind is of nation states interconnected through flows of trade, capital, people and technology.
An alternative map of the global economy comes to mind: one of cities connected across land borders, seas and oceans through the exchange of goods and services, foreign direct investment, migrant and short-term workers,
The world economy, spurred by urbanization trends, is shifting south and east, particularly to Asia.
and investment that could add $30 trillion annually to the world economy. By 2025, these cities will be home to 235 million upper-middle-class households with an annual income of more than $20,
will based a city global economy pull up non-urban hinterlands, or will cities become rich enclaves surrounded by marginalized rural areas?
food and water, given their concentrations of people and economic activity, and are responsible for over half of global greenhouse gas emissions.
it has dispersed economic activity around the world, allowing comparative advantage to help generate positive outcomes; but, at the same time, it has concentrated economic activity in particular locations.
Cities have been the big beneficiaries: they enable firms to reap economies of scale and scope, and bring talented people together not least entrepreneurs to share ideas
Technological advances can spur concentration of economic activity, but they also impel decentralization of choices and decision-making.
Productivity is the efficiency with which an economy uses available inputs to produce outputs; it determines the rate of return on investments,
which fundamentally drives economic growth. In other words, a more competitive economy is likely to grow faster over time,
and productivity-based competitiveness sets an economy's level of prosperity. Productivity has to be maintained sustainable that is
beyond the short term and in a way that reconciles economic, environmental and social goals. Analysing City Competitiveness:
The central drivers of productivity feed into sustainable economic growth. Align the criteria with those of the Forum's Global Competitiveness Report:
Macroeconomic policies related to the city's fiscal policies (revenue and expenditure) Business-environment policies and regulations related to markets for goods, services, capital and labour, many of which are captured well in the World bank's Doing Business index.
Foreign economic policies that position a city in the global economy through international trade, finance, foreign direct investment (FDI), foreign workers and tourism, all as part of clusters of economic activity linked to global value chains 3
and to entrepreneurship, innovation and economic growth, just as they were in cities at the heart of the pre-modern European and Asian miracles.
when Pittsburgh was named the most liveable city in the United states by the Economist Intelligence Unit.
but also in providing channels of communication and cooperation between various economic stakeholders. This sort of effort was combined with the already existing foundations of a skilled workforce
balanced and resilient economy, making Pittsburgh a model for economic, environmental and quality-of-life transformation. Beyond the previously mentioned success in advanced manufacturing,
Energy has long been an important part of the city's economy, but that may be becoming less true.
and more to do with a concerted effort to diversify its economy. A number of actions can be credited with causing the city's strong performance.
and economic activities shifted westward. But St louis now finds itself in a very different position than similar cities in the American Midwest through its newfound success as a global biotech hub and top destination for tech start-ups.
biotech has the potential to cause positive ripples across the city's economy. St louis'new competitiveness has gone not unnoticed.
Thanks to the Arch Grants and other pro-tech incentives, St louis has established a diversified and forward-looking economy against
which together create an urban centre that supports the drive towards a knowledge-based society and economy.
This plan addresses top-of-mind concerns like economic growth, government transparency, quality of life, mobility and the environment.
From the Command Economy to Knowledge-Intensiveness and Cultural Flair13 Located in the southwestern corner of Poland,
Entrepreneurship also needs to be encouraged to ensure that R&d efforts continue to be translated into economic growth.
since itself by focusing on culture and investing in a greener economy. Unlike other major cities that chose iconic cultural attractions (Bilbao and the Guggenheim Museum;
This produced a bottom-up set of proposals for the future development of the city, around a more innovative economy;
A special characteristic of Manisa is its polycentric structure in terms of its population and economics. Only 26%of the city's population lives in the provincial centre.
then there is virtually no city in the world that cannot benefit from a rethinking of its vocation in a newly interconnected world of the 21st-century knowledge economy. 22 A Report of the Global Agenda Council on Competitiveness Casablanca, Morocco:
Morocco's economic policies, institutions, commercial relationships and public-private dialogue have contributed to this remarkable outcome.
The economy of the city, however, began witnessing challenges after two decades, as the system was highly informal
It shaped the city's economy and boosted the commercial as well as the industrial sector. This enabled the arrival of major domestic and international players who started setting up their bases in and around the city.
boasts industry and services sectors that are 36.4%and 55.8%,respectively, of the region's economy.
Agriculture accounts for only 7. 8%.Metro Cebu departed long ago from being a predominantly agrarian economy to one that is mostly driven by business process outsourcing (BPO), tourism and real estate. As of 2013,
and foreign visitors collectively are the fastest-growing contributors to the local economy. Cebu is now getting more attention as a gateway to the south.
and will remain overwhelmingly a phenomenon of emerging economies; and second, an emphasis on second-tier cities rather than national or commercial capitals in order to get a better sense of emerging issues for city competitiveness.
a previously successful city in the 20th-century industrial economy that fell into deep decline, but is now attempting a turnaround Bilbao (Spain) high-income;
and West that enabled the city to build an economy beyond hydrocarbon, and to attract inhabitants from all over the world.
although the values at times have seemed to create overvaluations and reversals, notably after the recent global economic downturn of 2008.
such as the pace of growth, a possible real estate bubble and dependence on Gulf-oilbased economies.
Annual inflation is 2. 4%.Singapore has no natural resources to speak of. It is globalized the most economy of significant size in the world.
Trade in goods and services is about 400%of GDP. Foreign multinational enterprises (MNES) have nearly $600 billion of investment stock in Singapore,
The city state has taken maximum advantage of the global economy at every stage of its modern development
the global economy is its lifeblood it disciplines the city's institutions and policies like nothing else,
and the economy suffered. That changed when Lee kuan yew took power, and especially when Singapore became fully independent in 1965 after a brief union with Malaysia.
the global city high-end services (niche financial services such as wealth management and offshore finance, other business services, casinos and integrated resorts, commodities trading, education
as was the case in other East-Asian miracle economies. But the latest phase has seen highly unequal growth.
the exit from Malaysia and impending withdrawal of British military bases to overhaul economic policies, including opening the door fully to multinational corporations (MNCS) at a time
In the economy, the state's reach extends far, through government-linked companies (GLCS), sovereign wealth funds (Temasek, the holding company for GLCS;
(what to reform) Singapore is arguably best-in-class in getting the basics right on economic policy.
a stable exchange rate and low inflation. This encourages high levels of savings and investment. Personal and corporate income taxes are low,
and whether industrial-policy support is worth the opportunity cost in terms of claims on available land, labour and capital.
A weak domestic private sector is the Achilles heel of the economy. Small and medium-sized enterprises (SMES) account for half of GDP and the bulk of employment.
Without major reform of the public sector's involvement in the economy it is questionable whether the domestic private sector will ever be vibrant and innovative.
But the government's overall record puts it in good stead to tackle at least some of these policy challenges though it is unlikely to structurally alter the role of the public sector in the economy. 3. Hard connectivity Singapore has a strong, consistent emphasis on core physical infrastructure.
Twenty-first-century globalization also brings wider inequality, especially for a small, highly open economy, and even more so for a global city.
That is a far better way to improve sluggish productivity than government micro-interventions in the economy.
and less on being a direct player or micromanager in the economy. Lessons for other cities The Singapore story has manifold lessons for other cities.
Causes of the decline include deindustrialization, depopulation, lack of political leadership in making timely economic decisions and, finally, the recent economic downturn.
this dislocation continues to influence the region's economy. Depopulation: Racial tensions flared in the 1960s
The collapse of the US national housing market in 2008 and the weakness of the national economy hit Detroit especially hard, further eroding property values and increasing unemployment,
The benefit of Detroit's bankruptcy (governed by federal law) has been to force a process with a defined timetable onto the many stakeholders in the city's fiscal condition.
This previously absent sense of urgency has brought new stakeholders, most notably the local philanthropic community,
The plan identifies several focal areas for economic growth, including entrepreneurship, small-business development and policy reform,
Many businesses and policy-makers are determined now to diversify the region's economy as they simultaneously celebrate the automotive sector's rebound.
and healthcare for retired workers) has wrought a devastating price on Detroit's workforce, government, businesses and financial stakeholders.
Involve stakeholders in effective planning: Detroit has suffered from a lack of coordinated, creative and longterm planning.
The value of effective planning efforts derives from their inclusion of all the city's stakeholders and their accessibility to all citizens,
who desire and deserve a prosperous economy, high-performing schools and a vibrant community life.
and (b) Inward at the service of its citizens, companies and local stakeholders. The mission statement was synthesized as follows:
Modernize and internationalize the country and its economy at the service of well-being. The strategy included the four-part taxonomy:
through a unique mindset of conceiving a service economy, avoiding manufacturing and asking governments to stop applying industrial policies.
Cluster its economy: breaking classic swaps and interrelating companies, technological centres, universities, financial institutions and governments for competitiveness, with more than 2,
000 leaders working steadily around a dozen clusters in the process Internationalize its economy: attracting foreign investment
The desired international connectivity, the economic modernization and its global commitment, the attraction of talent and generation of a competitive economy are the priority services of citizens themselves and of Basque society.
to an outward economy with the comparative advantage that traditional manufacturing industries provided. Successful times decline into a deep common crisis. Similar approaches may exist to overcome such a crisis,
and vibrant city has taken advantage of opportunities to build a knowledge-based economy relevant to high-value international supply chains,
Nuevo León has historically been one of the most dynamic economies in Mexico, partly due to the geographical advantage of being 200 km south of the US border (Texas). Its location,
After WORLD WAR II, Mexico implemented a closed-economy model in which fiscal and capital incentives were provided to promote
The economic downturns that affected the growth of Mexico's GDP in the early 1980s were an incentive for the main industries in Monterrey to enter international markets.
In order to play a relevant role in the emerging global knowledge-based economy, the economic and social transformation of the city became a main priority.
The world economic crisis of 2008 and the presence of criminal drug-related groups in the country affected the economic and social activities in Monterrey.
private and public institutions have promoted cooperation, education, economic growth and social cohesion. This explains Monterrey's strong structural competitiveness and resilience.
In an effort to promote Monterrey's transformation into a knowledgebased economy three projects have been launched in the last 20 years,
the state of Nuevo León reported four key sectors that drive the economy: construction, automotive, machinery and equipment,
a growing understanding that the city needs to productively engage in the global knowledge-based economy,
Will Monterrey develop the capabilities to productively engage in the innovation and knowledge-based economy of the world?
not only on how a city in a developing country can build a dynamic and vibrant economy,
The city is located in one of the most active areas of the Chinese economy, the Yangtze river Delta region.
China established a socialist market economic system. Ningbo began a comprehensive transformation for the socialist market economy,
i e. the integrated framework for public service and social governance, the government and stakeholders have set up a good cooperative public-private partnership.
Foreign economic policy With its long historical tradition of foreign trade, Ningbo has now become one of the most developed foreign trade cities in China.
Like other cities in China, Ningbo's story of success happened in the transition period of China, from planned economy to market economy.
With the development of the Chinese market economic system, markets will play an even more decisive role in the future.
one of the fastest-growing states in India and one that The Economist described as the Guangdong of India.
has seen its fortunes revive sharply since the opening up of the Indian economy in 1991,
Nonetheless, India was just emerging from its cocoon as a protected economy, with the economic reforms of 1991 exposing it not only to trade and investment flows,
and has had an enormous, positive impact on the economy as well. In the two years after the turnaround began,
or economic crisis to push through a critical mass of decisive reforms. Policies and regulation of the business environment Get the basics right,
Develop own foreign economic policies on trade, foreign direct investment, tourism and attracting global talent, and go global as far as possible.
Relatively modest oil revenues were invested wisely to diversify the economy. His son, Sheikh Mohammed, enlarged this vision
The focus is on three aspects of economic policy: fiscal policy, regulations for doing business, and foreign economic policy.
From the 1960s to the present, Singapore has provided some of the best examples of getting the basics right.
Stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign direct investment, simple and transparent domestic business regulation, a safety
and poor healthcare, education, water and transport services. 52 A Report of the Global Agenda Council on Competitiveness Foreign Economic policy:
Manisa to diversity its economy. Ahmedabad and Hyderabad have done so in automobile manufacturing and IT services, respectively.
Cities need their own foreign economic policies they should not simply leave them to national governments.
As a city state, Singapore (like Hong kong SAR) is exceptional in conducting its own foreign economic policies;
one of the world's leading urban economists, argues strongly for urban density. Concentrated building in city centres is good for business and innovation, for the arts and culture,
the government is the leading shareholder but management is autonomous. While government provides the land for the MTR to develop subway stations and track,
Vital for Cities in the 21st-Century Knowledge Economy In the industrial age, the hard connectivity of canals, ports, roads, railroads, cold chains, transport hubs
but in the knowledge economy of the 21st century, soft connectivity is equally so. As the city's social capital, soft connectivity refers to the knowledge,
Paul Romer, Professor of Economics at NYU, is thinking along these lines with his vision of charter cities.
Visiting Associate professor, Lee kuan yew School of Public Policy, National University of Singapore, Singapore Vice-Chairs Clément Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance
, Regional Economist, African Development Bank, Côte d'ivoire Janamitra Devan, Independent Adviser, Strategy and Leadership, USA Gao Changlin
and a Member of the Global Agenda Council on Competitiveness. 4. This case study was written by Jose Antonio Torre Medina, Undersecretary for Competitiveness and Business Regulation, Ministry of Economy of Mexico (2011),
, EGADE Business school, Tecnológico de Monterrey, Mexico. 6. Centro de Investigación y Docencia Económicas (Economics Research and Teaching Center.
This case study was written by Margareta Drzeniek Hanouz, Director and Lead Economist, Global Competitiveness and Benchmarking Network, World Economic Forum. 14.
This case study was prepared by the Economic policy Research Foundation of Turkey (TEPAV. 16. This case study was written by Kevin X. Murphy. 17.
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
, 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
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
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
Principal Associate Eleanor Doyle, Director Catherine Kavanagh, Principal Associate Forfás, Economic Analysis and Competitiveness Department Adrian Devitt, Manager Conor Hand, Economist
viii The Global Competitiveness Report 2014 2015 Partner Institutes Kyrgyz Republic Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao
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
. 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
Administrative Staff Fatou Gueye, Teacher Gisèle Tendeng, Accountant Serbia Foundation for the Advancement of Economics (FREN) Aleksandar Radivojevic, Project Coordinator Svetozar Tanaskovic, Researcher
, 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
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
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.
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.
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.
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.
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,
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
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
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
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.
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
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.
given the increasing role played by the state at the international level and for the economies of many countries.
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;
Cities should develop their own foreign economic policies on trade, foreign investment, tourism, and attracting foreign talent,
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;
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.
Economies also depend on electricity supplies that are free from interruptions and shortages so that businesses and factories can work unimpeded.
it is recognized also that macroeconomic disarray harms the economy, as we have seen in recent years, conspicuously in the European context.
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.
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
which is neglected in many economies for ensuring a constant upgrading of workers'skills. Sixth pillar:
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,
The recent economic crisis has highlighted the high degree of interdependence of economies worldwide and the degree to
Protectionist measures are counterproductive as they reduce aggregate economic activity. Market efficiency also depends on demand conditions such as customer orientation and buyer sophistication.
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,
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.
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
so clear recently financial markets need appropriate regulation to protect investors and other actors in the economy at large.
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,
we give credit to export-driven economies and geographic areas (such as the European union) that are divided into many countries
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.
Technological breakthroughs have been at the basis of many of the productivity gains that our economies have experienced historically.
Innovation is particularly important for economies as they approach the frontiers of knowledge, and the possibility of generating more value by merely integrating
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
The Global Competitiveness Index framework Key for factor-driven economies Key for efficiency-driven economies Key for innovation-driven economies Pillar 1. Institutions Pillar
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),
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.
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,
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.
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.
which has led some rating agencies to downgrade the outlook of this Nordic economy. More precisely, Finland suffers from higher,
Overall, Germany weathered the global economic crisis of recent years quite well thanks at least partly to its main competitiveness strengths,
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.
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;
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,
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,
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,
Moreover, in order to support a structural change of the Greek economy so that it can move toward more productive, knowledge-based activities,
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 most emerging Asian economies, common challenges include addressing the huge infrastructure deficit and improving regional connectivity;
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,
All this bodes well for a country that aims to become a high-income, knowledge-based economy by the end of the decade.
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.
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.
and is losing manufacturing jobs to less-developed countries and even to some more advanced economies.
In 2013, Thailand almost balanced its budget and reduced inflation to 2 percent. Public debt remained stable
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),
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).
These factors contribute to the high cost of integrating more businesses into the formal economy.
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:
(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.
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
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.
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.
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.
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).
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.
the quality of an education system that does not seem to deliver on the skill set that a changing Mexican economy requires;
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
These results highlight how important it will be for emerging economies to promptly and efficiently implement structural reforms.
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),
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.
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
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;
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.
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.
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.
which would trigger further efficiency gains in its domestic economy and facilitate the transfer of knowledge and technology.
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.
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.
and contribute to energizing the economy by providing access to new entrants. This, in turn, would make the country's private sector more dynamic
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;
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.
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),
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.
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.
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.
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),
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;
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.
Inflation although still high at close to 8 percent returned to single digits this year although fiscal indicators remain relatively high.
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.
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.
and more determination and shared commitment among all stakeholders is needed urgently in order to build strategic public-private collaborations.
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
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.
stakeholders'actions most notably those originating from the public and private sectors are not always well coordinated and aligned,
Fortunately, stakeholders are increasingly acknowledging the need to address this disconnect between public-and private-sector actions.
in order to broker effective collaborations, stakeholders must be able to count on clear targets and evaluation frameworks,
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,
and Competitiveness Practice Repository is a new initiative of the World Economic Forum to orchestrate an informed multi-stakeholder process for better understanding
Quarterly Journal of Economics 117 (4): 1231 94. Afdb, OECD, and UNDP. 2014. African Economic Outlook 2014:
Handbook of Economic growth, 1st edition, volume 1. Amsterdam: Elsevier. 1499 542. Almeida, R, . and P. Carneiro, 2009.
Journal of Comparative Economics 37 (1): 28 46. Amin, M. 2009. Labor Regulation and Employment in India's Retail stores.
Journal of Comparative Economics 37 (1): 47 61. Aschauer, D. A. 1989. Is Public Expenditure Productive?
Journal of Monetary Economics 23 (2): 117 200. Barro, R. J. and X. Sala-i-Martín. 2003.
Economic growth, 2nd edition. Cambridge, MA: MIT Press. Becker, G. S. 1993. Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, 3rd edition.
Infrastructure and Economic growth. In M. Baldarassi, L. Paganetto, and E. Phelps, eds.,International Differences in Growth rates.
The Informal Economy. India Market Strategy. July 9. Available at https://www. credit-suisse. com/newsletter/doc/apac/aic2013/20130712 indiamkt. pdf De Soto, H. 2000.
Quarterly Journal of Economics CXII: 1203 50. Feyrer, J. 2009. Trade and Income: Exploiting Time series in Geography.
Journal of Monetary Economics 32 (3): 485 512. Frenkel, J. and D. Romer. 1999. Does Trade Cause Growth?
Innovation and Growth in the World Economy. Cambridge, MA: MIT Press. Chapters 3 and 4. IMF (International monetary fund.
Journal of Comparative Economics 37 (1): 91 105. Kaufmann, D. and T. Vishwanath. 2001. Toward Transparency:
Quarterly Journal of Economics 108 (3): 551 75. Lucas, R. E. 1988. On the Mechanics of Economic Development.
Journal of Monetary Economics 22 (1): 3 42. Planning commission of India. 2012. Twelfth Five Year Plan 2012 17.
The Stages of Economic growth, a Non-Communist Manifesto. Cambridge: University Press. Sachs, J. 2001. Macroeconomics and Health:
Investing in Health for Economic Development: Report of the Commission on Macroeconomics and Health. Geneva:
World health organization. Sachs, J. and A. Warner. 1995. Economic Reform and the Process of Economic Integration.
Brookings Papers on Economic activity 1995 (1): 1 118. Sala-i-Martín, X. and E. V. Artadi. 2004.
A Contribution to the Theory of Economic growth. Quarterly Journal of Economics 70 (February: 65 94.2014 World Economic Forum The Global Competitiveness Report 2014 2015 45 1. 1:
The Global Competitiveness Index 2014 2015 Swan, T. W. 1956. Economic growth and Capital Accumulation. Economic Record 32 (2): 334 61.
Trajtenberg, M. 2005. Innovation Policy for Development: An Overview. Paper prepared for LAEBA, Second Annual Meeting.
In P. Newman, ed.,The New Palgrave Dictionary of Economics and the Law. New york: Macmillan. 2014 World Economic Forum 1. 1:
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.
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,
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.
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
25%3. 01 Government budget balance*3. 02 Gross national savings*3. 03 Inflation*f 3. 04 Government debt*3. 05 Country
%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,
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,
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.
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
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
for example when businesses must face higher prices for commodities used as inputs of production. And third,
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.
The World bank estimates the cost of pollution to China at around 9 percent of its gross national income
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:
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,
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 affects an economy in different ways. Multiple channels support a positive relationship between environmentally sustainable practices and productivity gains;
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,
and ocean acidity. 22 Biodiversity is also a key driver of economic growth, especially in developing countries,
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
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.
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,
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
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
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,
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,
unless the loss of purchasing power is offset by fiscal policies. An additional link between energy
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:
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.
thus benefitting the economy. A third category can be thought of as an assessment of social cohesion
Extent of informal economy Social safety net protection Income Gini index Social mobility Youth unemployment Figure 2:
These indicators comprise measures of Baseline water stress in an economy, which models the relation between water supply availability and demand in each country;
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.
stakeholders should not be complacent and should continue to monitor and improve the management of Swiss resources.
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,
similar to other economies in the region, Norway is making efforts to reduce its footprint on its natural capital
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:
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.
its low youth unemployment and widespread access to water and sanitation offset its relatively high level of inequality, its widespread informal economy,
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 large portions of the population work in vulnerable jobs or in the informal economy and do not have access to social security.
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.
These issues, typical of a developing economy, may jeopardize the future competitiveness of the country as they limit the country's human capital.
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.
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,
/12 Bughin et al. 2010.13 Luenberger 1995.14 CDP and WWF-US 2013.15 Parry et al. 2014.16 CBO 2013.17 The Economist 2014.18 See, for example,
although measured at country level in advanced economies, are measured not worldwide. Additionally, because poverty thresholds change from country to country, it is difficult to establish a cross-country comparison.
Alesina, A. and D. Rodrik 1994, Distributive Politics and Economic growth. Quarterly Journal of Economics 109 (2): 465 90.
Ali, I and J. Zhuang. 2007. Inclusive Growth toward a Prosperous Asia: Policy Implications. ERD Working Paper No. 97.
Journal of Economic growth 8 (2003): 267 99. Barbier, E. 1997. Environmental Kuznets Curve Special Issue:
Environment and Development Economics 2: 369 81. Bäthge, S. 2010. Climate Change and Gender: Economic Empowerment of Women Through Climate Mitigation and Adaptation?
B. E. Journal of Macroeconomics 3 (1): 1 33. Berg, A. and J. Ostry. 2011.
Effects of a Carbon Tax on the Economy and the Environment. May, Pub. No. 4532.
The Debate over the Relationship Between Income Inequality and Economic growth: Does Inequality Matter for Growth?
Research in Applied Economics, Macrothink Institute 5 (2): 1 18. Available at http://www. macrothink. org/journal/index. php/rae/article/view/3361/3258.
The Economist. 2014. The Cost of Doing Nothing: Scorched Farms, Flooded Homes and Lower Productivity.
The Economist, June 28. Available at http://www. economist. com/news/united-states/21605936-scorched-farms-flooded-homes-and-lower-productivity-cost-doing-nothing.
Elkington, J. 1997. Cannibals with Forks: The Triple Bottom line of 21st Century Business. Oxford, United kingdom:
Brookings Papers on Economic activity, Fall. Available at http://www. brookings. edu//media/Projects/BPEA/Fall%202013/2013b elsby labor share. pdf. Esteban, J. and D. Ray. 2006.
Income Distribution and Macroeconomics. The Review of Economic Studies 60 (1): 35 52. Gassert, F.,M. Luck, M. Landis, P. Reig,
Commodity Prices and Inclusive Growth in Low-Income Countries. WASHINGTON DC: International monetary fund. 147 60. ILO (International labour organization.
Economic growth and Income Inequality. American Economic Review 45 (1): 1 28. The Lancet. 2013. The Global Burden of Disease Study 2010.
Journal of Mathematical Economics 24 (1995): 159 77. Mankiw, G. 2013. Defending the One Percent.
The Quarterly Journal of Economics 129 (1): 61 103. Nordhaus, W. 1992. Lethal Model 2:
Brookings Papers on Economic activity Volume 2: 1 59.1994. Locational Competition and the Environment: Should Countries Harmonize Their Environmental Policies?
Cowles Foundation Discussion Paper No. 1079, Cowles Foundation for Research in Economics, Yale university..2000. Alternative Methods for Measuring Productivity Growth.
Cowles Foundation Discussion Paper No. 1282, Cowles Foundation for Research in Economics, Yale university..2002. The Health of Nations:
Journal of Environmental Economics and Management 67 (2): 104 25. Persson, T. and G. Tabellini 1994.
Agricultural and Resource Economics Update 12 (1). Giannini Foundation of Agricultural Economics, University of California.
Stern Review on the Economics of Climate Change. London: HM Treasury. Stiglitz, J. 2012. The Price of Inequality:
Report prepared by the United nations Environment Programme as part of its Green Economy Initiative, April. Available at http://www. unep. org/PDF/Pressreleases/201004 unep national strategy. pdf..2011.
Towards a Green Economy: Pathways to Sustainable Development and Poverty Education. Nairobi: United Nation Environment Programme.
Access to healthcare servicesd S06 Social safety net protection S07 Extent of informal economy S08 Social mobility S09 Vulnerable employment*Environmental sustainability
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.
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.
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.
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,
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).
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.
the structure of the sample of responses might end up differing significantly from the actual structure of the economy,
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
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.
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 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...84 1. 20 Protection of minority shareholders'interests...3. 8...93 1. 21 Strength of investor protection, 0 10 (best*..
*15.2.105 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..
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
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*..
4. 4...84 1. 20 Protection of minority shareholders'interests...3. 8...93 1. 21 Strength of investor protection, 0 10 (best*..
*15.2.105 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 106 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 4, 000
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*..
3. 5...137 1. 20 Protection of minority shareholders'interests...3. 5...113 1. 21 Strength of investor protection, 0 10 (best*..
*51.1.4 3. 03 Inflation, annual%change*..*3. 3...66 3. 04 General government debt,%GDP*..
Country/Economy Profiles 108 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000
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. 7...143 1. 20 Protection of minority shareholders'interests...2. 5...142 1. 21 Strength of investor protection, 0 10 (best*..
*18.2.80 3. 03 Inflation, annual%change*..*8. 8...130 3. 04 General government debt,%GDP*..
Country/Economy Profiles 110 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 1...105 1. 20 Protection of minority shareholders'interests...3. 5...115 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
Country/Economy Profiles 112 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 2...104 1. 20 Protection of minority shareholders'interests...3. 7...97 1. 21 Strength of investor protection, 0 10 (best*..
*15.5.103 3. 03 Inflation, annual%change*..*5. 8...104 3. 04 General government debt,%GDP*..
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
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*..
5. 7...8 1. 20 Protection of minority shareholders'interests...5. 0...21 1. 21 Strength of investor protection, 0 10 (best*..
*24.7.42 3. 03 Inflation, annual%change*..*2. 5...1 3. 04 General government debt,%GDP*..
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
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*..
5. 2...27 1. 20 Protection of minority shareholders'interests...4. 8...31 1. 21 Strength of investor protection, 0 10 (best*..
*24.6.43 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 118 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 4...82 1. 20 Protection of minority shareholders'interests...3. 9...88 1. 21 Strength of investor protection, 0 10 (best*..
*43.4.9 3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 120 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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. 9...45 1. 20 Protection of minority shareholders'interests...5. 1...19 1. 21 Strength of investor protection, 0 10 (best*..
*28.4.29 3. 03 Inflation, annual%change*..*3. 3...67 3. 04 General government debt,%GDP*..
Country/Economy Profiles 122 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 8...132 1. 20 Protection of minority shareholders'interests...3. 0...133 1. 21 Strength of investor protection, 0 10 (best*..
*28.2.31 3. 03 Inflation, annual%change*..*7. 5...123 3. 04 General government debt,%GDP*..
Country/Economy Profiles 124 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 9...42 1. 20 Protection of minority shareholders'interests...4. 4...51 1. 21 Strength of investor protection, 0 10 (best*..
*2. 4...136 3. 03 Inflation, annual%change*..*2. 3...1 3. 04 General government debt,%GDP*..
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
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*..
5. 5...13 1. 20 Protection of minority shareholders'interests...4. 9...24 1. 21 Strength of investor protection, 0 10 (best*..
*18.2.81 3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 128 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2
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*..
4. 8...51 1. 20 Protection of minority shareholders'interests...4. 2...66 1. 21 Strength of investor protection, 0 10 (best*..
*31.7.20 3. 03 Inflation, annual%change*..*8. 7...129 3. 04 General government debt,%GDP*..
Country/Economy Profiles 130 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 1...113 1. 20 Protection of minority shareholders'interests...3. 7...96 1. 21 Strength of investor protection, 0 10 (best*..
*25.5.39 3. 03 Inflation, annual%change*..*5. 7...101 3. 04 General government debt,%GDP*..
Country/Economy Profiles 132 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 8...57 1. 20 Protection of minority shareholders'interests...4. 6...43 1. 21 Strength of investor protection, 0 10 (best*..
*38.7.12 3. 03 Inflation, annual%change*..*5. 8...103 3. 04 General government debt,%GDP*..
Country/Economy Profiles 134 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
4. 8...56 1. 20 Protection of minority shareholders'interests...4. 7...35 1. 21 Strength of investor protection, 0 10 (best*..
*14.7.110 3. 03 Inflation, annual%change*..*6. 2...110 3. 04 General government debt,%GDP*..
Country/Economy Profiles 136 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 1...106 1. 20 Protection of minority shareholders'interests...3. 9...83 1. 21 Strength of investor protection, 0 10 (best*..
*23.0.50 3. 03 Inflation, annual%change*..*0. 4...60 3. 04 General government debt,%GDP*..
Country/Economy Profiles 138 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 6...65 1. 20 Protection of minority shareholders'interests...3. 6...102 1. 21 Strength of investor protection, 0 10 (best*..
*15.4.104 3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 140 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 3...91 1. 20 Protection of minority shareholders'interests...3. 1...131 1. 21 Strength of investor protection, 0 10 (best*..
*3. 2...142 3. 03 Inflation, annual%change*..*8. 8...131 3. 04 General government debt,%GDP*..
Country/Economy Profiles 142 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 2...97 1. 20 Protection of minority shareholders'interests...3. 6...100 1. 21 Strength of investor protection, 0 10 (best*..
*14.9.107 3. 03 Inflation, annual%change*..*3. 0...58 3. 04 General government debt,%GDP*..
Country/Economy Profiles 144 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 8...54 1. 20 Protection of minority shareholders'interests...3. 9...86 1. 21 Strength of investor protection, 0 10 (best*..
*16.2.96 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..
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
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*..
5. 6...9 1. 20 Protection of minority shareholders'interests...5. 4...11 1. 21 Strength of investor protection, 0 10 (best*..
*21.1.61 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 148 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000
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*..
4. 1...107 1. 20 Protection of minority shareholders'interests...3. 7...98 1. 21 Strength of investor protection, 0 10 (best*..
*34.6.16 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 150 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 5...139 1. 20 Protection of minority shareholders'interests...2. 8...140 1. 21 Strength of investor protection, 0 10 (best*..
*18.3.79 3. 03 Inflation, annual%change*..*0. 2...65 3. 04 General government debt,%GDP*..
Country/Economy Profiles 152 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
5. 2...28 1. 20 Protection of minority shareholders'interests...4. 6...42 1. 21 Strength of investor protection, 0 10 (best*..
*20.5.65 3. 03 Inflation, annual%change*..*1. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 154 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4
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*..
4. 5...78 1. 20 Protection of minority shareholders'interests...4. 1...67 1. 21 Strength of investor protection, 0 10 (best*..
*50.0.5 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 156 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
5. 0...40 1. 20 Protection of minority shareholders'interests...4. 1...68 1. 21 Strength of investor protection, 0 10 (best*..
*20.9.62 3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 158 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
5. 0...41 1. 20 Protection of minority shareholders'interests...4. 7...33 1. 21 Strength of investor protection, 0 10 (best*..
*16.3.95 3. 03 Inflation, annual%change*..*5. 2...94 3. 04 General government debt,%GDP*..
Country/Economy Profiles 160 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 5...72 1. 20 Protection of minority shareholders'interests...4. 3...65 1. 21 Strength of investor protection, 0 10 (best*..
*16.0.99 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 162 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 2...96 1. 20 Protection of minority shareholders'interests...3. 6...105 1. 21 Strength of investor protection, 0 10 (best*..
*19.5.71 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..
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
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*..
4. 3...90 1. 20 Protection of minority shareholders'interests...4. 3...61 1. 21 Strength of investor protection, 0 10 (best*..
*10.0.128 3. 03 Inflation, annual%change*..*0. 4...61 3. 04 General government debt,%GDP*..
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
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*..
4. 6...68 1. 20 Protection of minority shareholders'interests...4. 1...71 1. 21 Strength of investor protection, 0 10 (best*..
*21.3.60 3. 03 Inflation, annual%change*..*1. 4...1 3. 04 General government debt,%GDP*..
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
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*..
5. 2...24 1. 20 Protection of minority shareholders'interests...4. 8...26 1. 21 Strength of investor protection, 0 10 (best*..
*24.0.47 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 170 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 6...62 1. 20 Protection of minority shareholders'interests...4. 1...75 1. 21 Strength of investor protection, 0 10 (best*..
*11.6.123 3. 03 Inflation, annual%change*..*4. 8...90 3. 04 General government debt,%GDP*..
Country/Economy Profiles 172 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2000 3, 000 4
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*..
3. 6...136 1. 20 Protection of minority shareholders'interests...3. 5...109 1. 21 Strength of investor protection, 0 10 (best*..
*12.1.122 3. 03 Inflation, annual%change*..*6. 9...118 3. 04 General government debt,%GDP*..
Country/Economy Profiles 174 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 5...73 1. 20 Protection of minority shareholders'interests...3. 3...125 1. 21 Strength of investor protection, 0 10 (best*..
*7. 4...131 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 176 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
5. 2...25 1. 20 Protection of minority shareholders'interests...4. 4...49 1. 21 Strength of investor protection, 0 10 (best*..
*25.4.40 3. 03 Inflation, annual%change*..*3. 5...73 3. 04 General government debt,%GDP*..
Country/Economy Profiles 178 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 0...117 1. 20 Protection of minority shareholders'interests...3. 9...85 1. 21 Strength of investor protection, 0 10 (best*..
*22.2.54 3. 03 Inflation, annual%change*..*8. 0...126 3. 04 General government debt,%GDP*..
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
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*..
6. 0...4 1. 20 Protection of minority shareholders'interests...6. 2...1 1. 21 Strength of investor protection, 0 10 (best*..
*17.0.90 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..
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
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*..
5. 2...22 1. 20 Protection of minority shareholders'interests...4. 4...55 1. 21 Strength of investor protection, 0 10 (best*..
*17.7.85 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 184 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 9...44 1. 20 Protection of minority shareholders'interests...4. 1...70 1. 21 Strength of investor protection, 0 10 (best*..
*41.3.10 3. 03 Inflation, annual%change*..*0. 5...56 3. 04 General government debt,%GDP*..
Country/Economy Profiles 186 The Global Competitiveness Report 2014 2015 Percent of responses Rank Score out of 144)( 1 7) Note:
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*..
4. 9...46 1. 20 Protection of minority shareholders'interests...4. 4...48 1. 21 Strength of investor protection, 0 10 (best*..
*1. 8...137 3. 03 Inflation, annual%change*..*5. 2...95 3. 04 General government debt,%GDP*..
Country/Economy Profiles 188 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 2...101 1. 20 Protection of minority shareholders'interests...3. 5...110 1. 21 Strength of investor protection, 0 10 (best*..
*19.4.72 3. 03 Inflation, annual%change*..*0. 5...78 3. 04 General government debt,%GDP*..
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
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*..
5. 3...21 1. 20 Protection of minority shareholders'interests...4. 7...38 1. 21 Strength of investor protection, 0 10 (best*..
*24.3.45 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 192 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 2...100 1. 20 Protection of minority shareholders'interests...4. 0...78 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
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
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*..
3. 9...124 1. 20 Protection of minority shareholders'interests...4. 3...63 1. 21 Strength of investor protection, 0 10 (best*..
*13.7.118 3. 03 Inflation, annual%change*..*0. 9...85 3. 04 General government debt,%GDP*..
Country/Economy Profiles 196 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
5. 2...26 1. 20 Protection of minority shareholders'interests...4. 0...77 1. 21 Strength of investor protection, 0 10 (best*..
*11.5.124 3. 03 Inflation, annual%change*..*4. 3...88 3. 04 General government debt,%GDP*..
Country/Economy Profiles 198 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 2...102 1. 20 Protection of minority shareholders'interests...3. 0...135 1. 21 Strength of investor protection, 0 10 (best*..
*1. 0...141 3. 03 Inflation, annual%change*..*12.0.141 3. 04 General government debt,%GDP*..
Country/Economy Profiles 200 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 3...93 1. 20 Protection of minority shareholders'interests...3. 8...92 1. 21 Strength of investor protection, 0 10 (best*..
*0. 7...139 3. 03 Inflation, annual%change*..*3. 5...70 3. 04 General government debt,%GDP*..
Country/Economy Profiles 202 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 8...131 1. 20 Protection of minority shareholders'interests...2. 9...136 1. 21 Strength of investor protection, 0 10 (best*..
*23.6.49 3. 03 Inflation, annual%change*..*6. 8...116 3. 04 General government debt,%GDP*..
Country/Economy Profiles 204 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 9...43 1. 20 Protection of minority shareholders'interests...4. 0...80 1. 21 Strength of investor protection, 0 10 (best*..
*15.7.101 3. 03 Inflation, annual%change*..*5. 2...92 3. 04 General government debt,%GDP*..
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
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.
5. 4...20 1. 20 Protection of minority shareholders'interests...5. 5...8 1. 21 Strength of investor protection, 0 10 (best*..
*26.7.34 3. 03 Inflation, annual%change*..*4. 3...86 3. 04 General government debt,%GDP*..
Country/Economy Profiles 208 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
3. 9...120 1. 20 Protection of minority shareholders'interests...4. 1...72 1. 21 Strength of investor protection, 0 10 (best*..
*20.7.63 3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..
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
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*..
5. 1...32 1. 20 Protection of minority shareholders'interests...4. 4...46 1. 21 Strength of investor protection, 0 10 (best*..
*14.1.112 3. 03 Inflation, annual%change*..*3. 9...77 3. 04 General government debt,%GDP*..
Country/Economy Profiles 212 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 3...94 1. 20 Protection of minority shareholders'interests...4. 1...76 1. 21 Strength of investor protection, 0 10 (best*..
*32.7.18 3. 03 Inflation, annual%change*..*9. 5...133 3. 04 General government debt,%GDP*..
Country/Economy Profiles 214 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2
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*..
4. 8...53 1. 20 Protection of minority shareholders'interests...4. 6...40 1. 21 Strength of investor protection, 0 10 (best*..
*30.4.24 3. 03 Inflation, annual%change*..*6. 4...112 3. 04 General government debt,%GDP*..
Country/Economy Profiles 216 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
3. 9...122 1. 20 Protection of minority shareholders'interests...3. 2...128 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
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
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*..
5. 2...23 1. 20 Protection of minority shareholders'interests...4. 8...27 1. 21 Strength of investor protection, 0 10 (best*..
*18.1.82 3. 03 Inflation, annual%change*..*0. 5...1 3. 04 General government debt,%GDP*..
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
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*..
4. 3...89 1. 20 Protection of minority shareholders'interests...4. 5...44 1. 21 Strength of investor protection, 0 10 (best*..
*22.2.55 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..
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
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*..
3. 9...121 1. 20 Protection of minority shareholders'interests...3. 3...127 1. 21 Strength of investor protection, 0 10 (best*..
*17.8.84 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 224 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
4. 8...50 1. 20 Protection of minority shareholders'interests...4. 6...41 1. 21 Strength of investor protection, 0 10 (best*..
*10.4.127 3. 03 Inflation, annual%change*..*9. 4...132 3. 04 General government debt,%GDP*..
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
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*..
5. 4...18 1. 20 Protection of minority shareholders'interests...5. 3...14 1. 21 Strength of investor protection, 0 10 (best*..
*21.7.58 3. 03 Inflation, annual%change*..*0. 4...62 3. 04 General government debt,%GDP*..
Country/Economy Profiles 228 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 3, 000
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*..
4. 3...92 1. 20 Protection of minority shareholders'interests...4. 7...39 1. 21 Strength of investor protection, 0 10 (best*..
*9. 6...130 3. 03 Inflation, annual%change*..*5. 5...98 3. 04 General government debt,%GDP*..
Country/Economy Profiles 230 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 7...61 1. 20 Protection of minority shareholders'interests...4. 1...69 1. 21 Strength of investor protection, 0 10 (best*..
*25.6.37 3. 03 Inflation, annual%change*..*5. 8...107 3. 04 General government debt,%GDP*..
Country/Economy Profiles 232 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 8...55 1. 20 Protection of minority shareholders'interests...4. 3...60 1. 21 Strength of investor protection, 0 10 (best*..
*12.2.121 3. 03 Inflation, annual%change*..*5. 7...100 3. 04 General government debt,%GDP*..
Country/Economy Profiles 234 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
3. 8...126 1. 20 Protection of minority shareholders'interests...3. 4...119 1. 21 Strength of investor protection, 0 10 (best*..
*32.1.19 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 236 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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. 8...127 1. 20 Protection of minority shareholders'interests...4. 1...73 1. 21 Strength of investor protection, 0 10 (best*..
*55.2.3 3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 238 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 2...103 1. 20 Protection of minority shareholders'interests...3. 6...101 1. 21 Strength of investor protection, 0 10 (best*..
*13.9.115 3. 03 Inflation, annual%change*..*6. 6...114 3. 04 General government debt,%GDP*..
Country/Economy Profiles 240 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
5. 1...30 1. 20 Protection of minority shareholders'interests...4. 3...58 1. 21 Strength of investor protection, 0 10 (best*..
*16.4.94 3. 03 Inflation, annual%change*..*6. 4...111 3. 04 General government debt,%GDP*..
Country/Economy Profiles 242 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
5. 0...38 1. 20 Protection of minority shareholders'interests...3. 9...87 1. 21 Strength of investor protection, 0 10 (best*..
*22.0.57 3. 03 Inflation, annual%change*..*0. 0...68 3. 04 General government debt,%GDP*..
Country/Economy Profiles 244 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
3. 7...133 1. 20 Protection of minority shareholders'interests...3. 4...121 1. 21 Strength of investor protection, 0 10 (best*..
*6. 3...133 3. 03 Inflation, annual%change*..*3. 2...64 3. 04 General government debt,%GDP*..
Country/Economy Profiles 246 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 6...135 1. 20 Protection of minority shareholders'interests...3. 1...130 1. 21 Strength of investor protection, 0 10 (best*..
*31.7.21 3. 03 Inflation, annual%change*..*5. 3...96 3. 04 General government debt,%GDP*..
Country/Economy Profiles 248 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
2. 4...144 1. 20 Protection of minority shareholders'interests...2. 4...144 1. 21 Strength of investor protection, 0 10 (best*..
*18.4.78 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 250 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
5. 0...34 1. 20 Protection of minority shareholders'interests...3. 9...89 1. 21 Strength of investor protection, 0 10 (best*..
*19.3.73 3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 252 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 20,000 40,000 60,000
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*..
5. 8...6 1. 20 Protection of minority shareholders'interests...5. 5...7 1. 21 Strength of investor protection, 0 10 (best*..
*28.2.30 3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 254 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 5...77 1. 20 Protection of minority shareholders'interests...4. 4...53 1. 21 Strength of investor protection, 0 10 (best*..
*22.6.53 3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 256 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 4...85 1. 20 Protection of minority shareholders'interests...3. 4...120 1. 21 Strength of investor protection, 0 10 (best*..
*19.2.74 3. 03 Inflation, annual%change*..*5. 8...106 3. 04 General government debt,%GDP*..
Country/Economy Profiles 258 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 7...58 1. 20 Protection of minority shareholders'interests...4. 4...50 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
Country/Economy Profiles 260 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
5. 6...10 1. 20 Protection of minority shareholders'interests...5. 3...13 1. 21 Strength of investor protection, 0 10 (best*..
*30.1.25 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 262 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 5...138 1. 20 Protection of minority shareholders'interests...3. 6...104 1. 21 Strength of investor protection, 0 10 (best*..
*14.9.108 3. 03 Inflation, annual%change*..*0. 6...79 3. 04 General government debt,%GDP*..
Country/Economy Profiles 264 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
4. 6...66 1. 20 Protection of minority shareholders'interests...4. 8...29 1. 21 Strength of investor protection, 0 10 (best*..
*14.4.111 3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 266 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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. 8...142 1. 20 Protection of minority shareholders'interests...2. 4...143 1. 21 Strength of investor protection, 0 10 (best*..
*10.0.129 3. 03 Inflation, annual%change*..*4. 1...82 3. 04 General government debt,%GDP*..
Country/Economy Profiles 268 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
5. 0...39 1. 20 Protection of minority shareholders'interests...5. 2...18 1. 21 Strength of investor protection, 0 10 (best*..
*14.1.113 3. 03 Inflation, annual%change*..*3. 5...71 3. 04 General government debt,%GDP*..
Country/Economy Profiles 270 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 4...81 1. 20 Protection of minority shareholders'interests...4. 3...62 1. 21 Strength of investor protection, 0 10 (best*..
*20.4.66 3. 03 Inflation, annual%change*..*3. 8...76 3. 04 General government debt,%GDP*..
Country/Economy Profiles 272 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 2...95 1. 20 Protection of minority shareholders'interests...3. 5...117 1. 21 Strength of investor protection, 0 10 (best*..
*19.6.70 3. 03 Inflation, annual%change*..*4. 6...89 3. 04 General government debt,%GDP*..
Country/Economy Profiles 274 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2
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*..
3. 8...129 1. 20 Protection of minority shareholders'interests...3. 5...111 1. 21 Strength of investor protection, 0 10 (best*..
*27.1.33 3. 03 Inflation, annual%change*..*9. 6...134 3. 04 General government debt,%GDP*..
Country/Economy Profiles 276 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 1...109 1. 20 Protection of minority shareholders'interests...3. 9...84 1. 21 Strength of investor protection, 0 10 (best*..
*1. 0...138 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 278 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 3, 000
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*..
4. 8...52 1. 20 Protection of minority shareholders'interests...4. 3...59 1. 21 Strength of investor protection, 0 10 (best*..
*27.2.32 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 280 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 2...99 1. 20 Protection of minority shareholders'interests...3. 5...114 1. 21 Strength of investor protection, 0 10 (best*..
*6. 8...132 3. 03 Inflation, annual%change*..*4. 2...83 3. 04 General government debt,%GDP*..
Country/Economy Profiles 282 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 1...114 1. 20 Protection of minority shareholders'interests...2. 8...137 1. 21 Strength of investor protection, 0 10 (best*..
*18.7.76 3. 03 Inflation, annual%change*..*5. 8...105 3. 04 General government debt,%GDP*..
Country/Economy Profiles 284 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4
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*..
4. 6...67 1. 20 Protection of minority shareholders'interests...4. 8...30 1. 21 Strength of investor protection, 0 10 (best*..
*20.1.68 3. 03 Inflation, annual%change*..*6. 2...109 3. 04 General government debt,%GDP*..
Country/Economy Profiles 286 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 0...115 1. 20 Protection of minority shareholders'interests...3. 3...126 1. 21 Strength of investor protection, 0 10 (best*..
*35.1.15 3. 03 Inflation, annual%change*..*9. 9...136 3. 04 General government debt,%GDP*..
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
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*..
5. 7...7 1. 20 Protection of minority shareholders'interests...5. 4...12 1. 21 Strength of investor protection, 0 10 (best*..
*26.6.35 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..
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
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*..
6. 1...1 1. 20 Protection of minority shareholders'interests...6. 1...4 1. 21 Strength of investor protection, 0 10 (best*..
*17.1.88 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 292 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 1...111 1. 20 Protection of minority shareholders'interests...3. 5...108 1. 21 Strength of investor protection, 0 10 (best*..
*17.1.89 3. 03 Inflation, annual%change*..*7. 4...121 3. 04 General government debt,%GDP*..
Country/Economy Profiles 294 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 4...80 1. 20 Protection of minority shareholders'interests...3. 8...90 1. 21 Strength of investor protection, 0 10 (best*..
*29.3.26 3. 03 Inflation, annual%change*..*8. 5...127 3. 04 General government debt,%GDP*..
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
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*..
6. 0...2 1. 20 Protection of minority shareholders'interests...5. 9...6 1. 21 Strength of investor protection, 0 10 (best*..
*37.4.14 3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 298 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
5. 0...37 1. 20 Protection of minority shareholders'interests...5. 2...17 1. 21 Strength of investor protection, 0 10 (best*..
*37.7.13 3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 300 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 0...119 1. 20 Protection of minority shareholders'interests...4. 0...79 1. 21 Strength of investor protection, 0 10 (best*..
*13.2.120 3. 03 Inflation, annual%change*..*7. 4...120 3. 04 General government debt,%GDP*..
Country/Economy Profiles 302 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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. 5...71 1. 20 Protection of minority shareholders'interests...4. 4...54 1. 21 Strength of investor protection, 0 10 (best*..
*18.1.83 3. 03 Inflation, annual%change*..*4. 0...81 3. 04 General government debt,%GDP*..
Country/Economy Profiles 304 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
4. 0...118 1. 20 Protection of minority shareholders'interests...3. 5...107 1. 21 Strength of investor protection, 0 10 (best*..
*16.9.92 3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 306 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
5. 1...31 1. 20 Protection of minority shareholders'interests...4. 3...64 1. 21 Strength of investor protection, 0 10 (best*..
*22.7.52 3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 308 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2
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*..
5. 1...29 1. 20 Protection of minority shareholders'interests...4. 5...45 1. 21 Strength of investor protection, 0 10 (best*..
*22.9.51 3. 03 Inflation, annual%change*..*2. 9...57 3. 04 General government debt,%GDP*..
Country/Economy Profiles 310 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 3...87 1. 20 Protection of minority shareholders'interests...4. 0...81 1. 21 Strength of investor protection, 0 10 (best*..
*16.9.91 3. 03 Inflation, annual%change*..*0. 9...1 3. 04 General government debt,%GDP*..
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
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*..
4. 5...76 1. 20 Protection of minority shareholders'interests...4. 4...47 1. 21 Strength of investor protection, 0 10 (best*..
*16.0.97 3. 03 Inflation, annual%change*..*0. 4...59 3. 04 General government debt,%GDP*..
Country/Economy Profiles 314 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 Institutions Infrastructure Macroeconomic environment
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*..
5. 5...14 1. 20 Protection of minority shareholders'interests...6. 1...3 1. 21 Strength of investor protection, 0 10 (best*..
*14.1.114 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 316 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 20,000 40,000 60,000
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. 5...12 1. 20 Protection of minority shareholders'interests...6. 0...5 1. 21 Strength of investor protection, 0 10 (best*..
*58.4.2 3. 03 Inflation, annual%change*..*3. 1...63 3. 04 General government debt,%GDP*..
Country/Economy Profiles 318 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 1...112 1. 20 Protection of minority shareholders'interests...3. 6...99 1. 21 Strength of investor protection, 0 10 (best*..
*22.1.56 3. 03 Inflation, annual%change*..*4. 0...80 3. 04 General government debt,%GDP*..
Country/Economy Profiles 320 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 6...64 1. 20 Protection of minority shareholders'interests...3. 5...118 1. 21 Strength of investor protection, 0 10 (best*..
*25.3.41 3. 03 Inflation, annual%change*..*6. 8...115 3. 04 General government debt,%GDP*..
Country/Economy Profiles 322 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
5. 0...35 1. 20 Protection of minority shareholders'interests...4. 7...34 1. 21 Strength of investor protection, 0 10 (best*..
*15.7.100 3. 03 Inflation, annual%change*..*4. 2...84 3. 04 General government debt,%GDP*..
Country/Economy Profiles 324 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 9...49 1. 20 Protection of minority shareholders'interests...5. 0...22 1. 21 Strength of investor protection, 0 10 (best*..
*45.5.7 3. 03 Inflation, annual%change*..*3. 5...72 3. 04 General government debt,%GDP*..
Country/Economy Profiles 326 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 7...59 1. 20 Protection of minority shareholders'interests...3. 7...95 1. 21 Strength of investor protection, 0 10 (best*..
*17.5.86 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 328 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
3. 8...125 1. 20 Protection of minority shareholders'interests...2. 8...138 1. 21 Strength of investor protection, 0 10 (best*..
*11.5.125 3. 03 Inflation, annual%change*..*7. 7...124 3. 04 General government debt,%GDP*..
Country/Economy Profiles 330 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 9...48 1. 20 Protection of minority shareholders'interests...4. 4...52 1. 21 Strength of investor protection, 0 10 (best*..
*18.7.77 3. 03 Inflation, annual%change*..*4. 3...87 3. 04 General government debt,%GDP*..
Country/Economy Profiles 332 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 5...69 1. 20 Protection of minority shareholders'interests...3. 6...103 1. 21 Strength of investor protection, 0 10 (best*..
*0. 7...140 3. 03 Inflation, annual%change*..*9. 8...135 3. 04 General government debt,%GDP*..
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
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*..
5. 9...5 1. 20 Protection of minority shareholders'interests...5. 5...10 1. 21 Strength of investor protection, 0 10 (best*..
*44.6.8 3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 336 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
4. 4...83 1. 20 Protection of minority shareholders'interests...3. 8...91 1. 21 Strength of investor protection, 0 10 (best*..
*20.6.64 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 338 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
3. 7...134 1. 20 Protection of minority shareholders'interests...3. 4...124 1. 21 Strength of investor protection, 0 10 (best*..
*23.6.48 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 340 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4
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*..
6. 0...3 1. 20 Protection of minority shareholders'interests...6. 1...2 1. 21 Strength of investor protection, 0 10 (best*..
*13.5.119 3. 03 Inflation, annual%change*..*5. 8...102 3. 04 General government debt,%GDP*..
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
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*..
4. 5...74 1. 20 Protection of minority shareholders'interests...3. 7...94 1. 21 Strength of investor protection, 0 10 (best*..
*18.9.75 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 344 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 1, 000 2
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*..
5. 1...33 1. 20 Protection of minority shareholders'interests...4. 8...28 1. 21 Strength of investor protection, 0 10 (best*..
*28.5.28 3. 03 Inflation, annual%change*..*6. 9...117 3. 04 General government debt,%GDP*..
Country/Economy Profiles 346 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
3. 8...130 1. 20 Protection of minority shareholders'interests...3. 2...129 1. 21 Strength of investor protection, 0 10 (best*..
*n/a n/a 3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 348 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 1, 000 2, 000
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*..
4. 5...75 1. 20 Protection of minority shareholders'interests...4. 3...56 1. 21 Strength of investor protection, 0 10 (best*..
*15.5.102 3. 03 Inflation, annual%change*..*5. 6...99 3. 04 General government debt,%GDP*..
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
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*..
5. 6...11 1. 20 Protection of minority shareholders'interests...5. 5...9 1. 21 Strength of investor protection, 0 10 (best*..
*24.3.44 3. 03 Inflation, annual%change*..*0. 0...69 3. 04 General government debt,%GDP*..
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
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*..
5. 4...19 1. 20 Protection of minority shareholders'interests...4. 7...32 1. 21 Strength of investor protection, 0 10 (best*..
*30.7.23 3. 03 Inflation, annual%change*..*0. 2...74 3. 04 General government debt,%GDP*..
Country/Economy Profiles 354 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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.
5. 0...36 1. 20 Protection of minority shareholders'interests...5. 1...20 1. 21 Strength of investor protection, 0 10 (best*..
*30.9.22 3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 356 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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. 9...123 1. 20 Protection of minority shareholders'interests...3. 5...112 1. 21 Strength of investor protection, 0 10 (best*..
*13.7.116 3. 03 Inflation, annual%change*..*5. 0...91 3. 04 General government debt,%GDP*..
Country/Economy Profiles 358 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 0...116 1. 20 Protection of minority shareholders'interests...3. 6...106 1. 21 Strength of investor protection, 0 10 (best*..
*19.9.69 3. 03 Inflation, annual%change*..*7. 9...125 3. 04 General government debt,%GDP*..
Country/Economy Profiles 360 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 2, 000 4
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*..
4. 7...60 1. 20 Protection of minority shareholders'interests...4. 9...25 1. 21 Strength of investor protection, 0 10 (best*..
*28.5.27 3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 362 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
3. 3...141 1. 20 Protection of minority shareholders'interests...2. 8...141 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
Country/Economy Profiles 364 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 5, 000 10,000
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*..
4. 1...110 1. 20 Protection of minority shareholders'interests...3. 5...116 1. 21 Strength of investor protection, 0 10 (best*..
*24.2.46 46 3. 03 Inflation, annual%change*..*5. 2...93 3. 04 General government debt,%GDP*..
Country/Economy Profiles 366 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 2, 000 4, 000
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*..
4. 1...108 1. 20 Protection of minority shareholders'interests...4. 0...82 1. 21 Strength of investor protection, 0 10 (best*..
*14.9.106 3. 03 Inflation, annual%change*..*6. 1...108 3. 04 General government debt,%GDP*..
Country/Economy Profiles 368 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 4...79 1. 20 Protection of minority shareholders'interests...4. 3...57 1. 21 Strength of investor protection, 0 10 (best*..
*13.7.117 3. 03 Inflation, annual%change*..*7. 5...122 3. 04 General government debt,%GDP*..
Country/Economy Profiles 370 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 6...63 1. 20 Protection of minority shareholders'interests...3. 4...123 1. 21 Strength of investor protection, 0 10 (best*..
*14.7.109 3. 03 Inflation, annual%change*..*5. 4...97 3. 04 General government debt,%GDP*..
Country/Economy Profiles 372 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 3, 000 6
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*..
4. 4...86 1. 20 Protection of minority shareholders'interests...2. 8...139 1. 21 Strength of investor protection, 0 10 (best*..
*6. 0...134 3. 03 Inflation, annual%change*..*0. 3...75 3. 04 General government debt,%GDP*..
Country/Economy Profiles 374 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 0 10,000 20,000 30,000
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*..
5. 5...15 1. 20 Protection of minority shareholders'interests...5. 3...16 1. 21 Strength of investor protection, 0 10 (best*..
*38.9.11 3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..
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
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*..
5. 4...17 1. 20 Protection of minority shareholders'interests...5. 3...15 1. 21 Strength of investor protection, 0 10 (best*..
*11.0.126 3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..
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
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*..
5. 4...16 1. 20 Protection of minority shareholders'interests...5. 0...23 1. 21 Strength of investor protection, 0 10 (best*..
*17.2.87 3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..
Country/Economy Profiles 380 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 5, 000 10,000 15,000
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*..
4. 5...70 1. 20 Protection of minority shareholders'interests...4. 7...37 1. 21 Strength of investor protection, 0 10 (best*..
*16.0.98 3. 03 Inflation, annual%change*..*8. 6...128 3. 04 General government debt,%GDP*..
Country/Economy Profiles 382 The Global Competitiveness Report 2014 2015 0 5 10 15 20 25 30 3, 000 6, 000
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*..
4. 2...98 1. 20 Protection of minority shareholders'interests...3. 0...132 1. 21 Strength of investor protection, 0 10 (best*..
*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*..
Country/Economy Profiles 384 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 8...128 1. 20 Protection of minority shareholders'interests...3. 4...122 1. 21 Strength of investor protection, 0 10 (best*..
*33.2.17 3. 03 Inflation, annual%change*..*6. 6...113 3. 04 General government debt,%GDP*..
Country/Economy Profiles 386 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
3. 4...140 1. 20 Protection of minority shareholders'interests...3. 0...134 1. 21 Strength of investor protection, 0 10 (best*..
*5. 4...135 3. 03 Inflation, annual%change*..*11.1.139 3. 04 General government debt,%GDP*..
Country/Economy Profiles 388 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 9...47 1. 20 Protection of minority shareholders'interests...4. 7...36 1. 21 Strength of investor protection, 0 10 (best*..
*25.5.38 3. 03 Inflation, annual%change*..*7. 0...119 3. 04 General government debt,%GDP*..
Country/Economy Profiles 390 The Global Competitiveness Report 2014 2015 Percent of responses GDP (PPP) per capita (int'l $), 1990 2013 Rank
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*..
4. 3...88 1. 20 Protection of minority shareholders'interests...4. 1...74 1. 21 Strength of investor protection, 0 10 (best*..
*5. 7...143 3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..
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.
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...
424 1. 20 Protection of minority shareholders'interests...425 1. 21 Strength of investor protection...
439 3. 03 Inflation...440 3. 04 Government debt...441 3. 05 Country credit rating...442 Pillar 4:
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...
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...
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...
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...
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...
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...
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...
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...
Data Tables 468 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 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...
Data Tables 470 The Global Competitiveness Report 2014 2015 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Canada...
6 RANK COUNTRY/ECONOMY VALUE 57 Ukraine...6 57 United arab emirates...6 57 United kingdom...6 57 United states...
Data Tables The Global Competitiveness Report 2014 2015 471 2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 New zealand...
14.0 69 Honduras...14.0 RANK COUNTRY/ECONOMY VALUE 69 Israel...14.0 74 Germany...14.5 75 Cameroon...
Data Tables 472 The Global Competitiveness Report 2014 2015 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 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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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).
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.
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 sources 3. 03 Inflation Annual percent change in consumer price index (year average) 2013 For inflation rates between 0. 5 and 2. 9 percent,
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?
1=excessively burdensome for the economy; 7=balances well the interests of taxpayers, consumers and producers 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.
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.
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
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
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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