the sharp economic downturn in Andalusia may stimulate a greater willingness to embrace self employment and other forms of entrepreneurship.
While the region experienced a high rate of new business start-ups and a significant increase in jobs during the period of economic growth from the mid 1990s up until the present economic downturn the continued lack of mediumsized firms
Spatial variations within countries suggest that not all geographical parts of a country achieve similar levels of employment, skills development, business formation, economic growth and infrastructure development.
Since that period, partly because of the impact of the volatility of the Spanish economy and of the global economic crisis which hit Spain disproportionately,
Andalusia‘s European economic identity mirrored that of Spain just before the economic crisis as the nation began an impressive catch up race with its more prosperous European counterparts.
and structural changes necessitating new forms of economic activity, there is a greater push for new types of skills, businesses and governance.
and services and generating economic growth. Universities now engage in industrial innovation through a variety of channels
Attracting talent to a local economy is enabled by making an environment and the quality of local life conducive to entrepreneurial economic activity.
and talent to make it happen, thereby energising local economic activity. Increasingly even economically less prosperous regions such as Andalusia are being exhorted to court entrepreneurship as part of an effective economic development strategy.
Granados, University of Malaga) to provide an initial analysis of the key facts about the Andalusia economic system and the entrepreneurship and SME policy context.
References Acs Z.,2008, Foundations Of high Impact Entrepreneurship, Jena Economics Research Papers, n. 2008-60.
Labour utilisation and labour productivity The recent economic crisis has struck Spain severely, and Andalusia has been no exception.
This decision signals the decision of the regional government to better coordinate its economic policies as well as the importance given to business innovation and entrepreneurship as the main drivers of local development.
Reig E.,(2010), The Competitiveness of the Spanish Regions, in J. R. Cuadraro (ed.),Regional Policy, Economic growth and Convergence, Springer, Heidelberg.
this is not employed appropriately enough to contribute significantly to economic growth (Cuadrado-Roura, 2010). At present, Andalusia is experiencing an unemployment rate above 26.5%(as compared to 18%in Spain as a whole.
During the recent economic crisis, Andalusian universities have seen enrolment increase by over two percent. In addition, the changing demographic structure in the region has affected labour market dynamics.
Economics and business administration departments in public universities are disconnected often from the local business community and, in response,
During economic crisis it is particularly important to stimulate business to create more jobs. RETA might help the regional government identify examples of programs from other countries (such as the East Bay Green Corridor Partnership described below) that link incentives to job creation,
such as regional economic growth and competitiveness, can be contradictory. Job training seeks to help economically or educationally disadvantaged people access employment opportunities,
Sweden‘s emphasis on new technology-based firms is based on the understanding that they contribute to economic growth not just by producing own products
The Review of Economics and Statistics, 72,4: 551-559. Bates, T. 1995. Self employment Entry Across Groups.
the Politics and Economics of Race in America. New york: Cambridge university Press. Castells, M. 1996. The Rise of the Network Society.
Lessons from the Spanish Experience, Chapter 13, pp. 285-311, in Cuadrado-Roura, editor, Regional Policy, Economic growth and Convergence.
Economic growth and Workforce Development in the 1990s. Economic Development Quarterly, 14,340-359. Glaeser, E. L. and M. Resseger. 2009.
Quarterly Journal of Economics 107,33-60. Laurent, J.,Periáñez, I. & I. W. Petit de Gabriel. 2010.
and innovation policy geared to favouring economic growth first and thus to give priority to the pro industry approach.
In Microfoundations of Economic growth: A Schumpeterian Perspective, eds Gunnar Eliasson and et al. Ann arbor: University of michigan Press.
an entrepreneurial spirit is the main driving force behind innovation, competitiveness and economic growth. There is a relationship between the entrepreneurial spirit and economic results in terms of growth, consolidation of the business framework, innovation, job creation, technological changes and increase in productivity.
The above synopsis indicates that the rapid economic growth and other gains experienced in recent decades,
competitiveness and economic growth in all regions, including Andalusia. The region has deployed numerous public instruments and resources to boost the competitiveness and innovative capacity of enterprises.
it has certainly not been spared from the economic crisis. The construction and real estate sectors have been affected severely,
the sharp economic downturn in Andalusia may stimulate a greater willingness to embrace self employment and other forms of entrepreneurship.
This recognition comes from a conviction that entrepreneurial spirit can be a driver for innovation, competitiveness and economic growth.
While the region experienced a high rate of new business start-ups and a significant increase in jobs during the period of economic growth from the mid 1990s up until the present economic downturn in 2007/2008, the continued lack
The global economic downturn has worsened probably this situation: the most recent data available indicate that the larger firm sectors,
The most recent evidence from EXTENDA suggests that the region‘s exports were holding up well compared to other Spanish regions in the face of the economic downturn.
Sonninor@cardiff. ac. uk Professor Gianluca Brunori, Department of Agronomy and Management of the Agro-ecosystem, Group of Agricultural and Environmental Economics, University of Pisa, Via del
Rationale for the intervention As a small open economy with 50 percent of its economic activity accounted for by international trade,
Denmark has lacked traditionally the ability to undertake interventionist industrial strategies and demand-side economic policies of larger countries.
Obstacles and responses Despite growing international competition from lower cost producers in China and Eastern European, Denmark‘s employment remained relatively stable up until 2007 but with the economic downturn and collapse of global demand in many key markets,
The recent economic crisis has made things worse, striking Andalusia harder than the rest of Spain, which has been in itself severely hit by recession. 14 Two different stages of development connote the recent economic history of Andalusia.
Department of Business Economics International Doctorate in Entrepreneurship and Management DOCTORAL DISSERTATION (Degree of Doctor of philosophy Ph d.)ENTREPRENEURIAL AND INNOVATIVE BEHAVIOR IN SPANISH SMES:
Submitted to the Department of Business Economics in partial fulfillment of the requirements for the degree of Doctor of philosophy Ph d. by the Universitat Autònoma de Barcelona.
Behavior This dissertation is the result of a research effort that focuses on subjects related to a major driver of economic growth:
Yeoh and Jeong, 1995). 2. 2. The importance and relevance of entrepreneurial SMES for contemporary societies As already stressed, there are many evidences that entrepreneurship is of great value for economic growth, productivity, innovation
entrepreneurship has gained additional attention in the current economic crisis, as it is widely viewed as a key aspect of economic dynamism.
human resource management, economics and finance, marketing, international business and corporate entrepreneurship. In the field of entrepreneurship, Alvarez and Busenitz (2001) present RBV through the entrepreneurial process of cognition, discovery, understanding market opportunities,
March, 1991), organizational economics (Rogers, 2004), international business (Eriksson et al. 1997; Lane et al. 2001; Zahra et al.
economic growth A model to examine the importance of technological catch up in explaining productivity growth. ACAP is a factor in explaining growth;
For instance, for Schumpeter (1934), organizational innovativeness is highlighted as an important factor for aggregate economic growth and performance over time.
probably influenced by the peculiar environment of the economic crisis in which our research is inserted. It would be explained by a stochastic factor, namely,
that Spanish economy was affected more by the economic crisis from 2008 on, and it would be reflected in the growth rates presented by SMES.
is a large stochastic factor such as wars, terrorism, economic crisis and so on. Returning to our research questions and aims stated in Section 1,
) In the European business context, characterized by small domestic markets associated with the situational uncertainty and the current economic crisis,
Small Business Economics, 31,305-322. Akman, G. and Yilmaz, C. 2008. Innovative capability, innovation strategy and market orientation:
Review of World Economics, 146,657-689. Capelleras, J. L. and Greene, F. J. 2008. The determinants and growth implications of venture creation speed.
Small Business Economics, 21,409-422. Emsley, D. 2005. Restructuring the management accounting function: a note on the effect of role involvement on innovativeness.
The Journal of Industrial Economics, 35,567-81. Fariñas, J. C. and Martín-Marcos, A. 2007.
Small Business Economics, 24,205-231. Rhee, J.,Park, T. and Lee, D. H. 2010. Drivers of innovativeness and performance for innovative SMES in South korea:
Absorptive capability and economic growth: how do countries catch up? Cambridge Journal of Economics, 28,577-596.152 Roper, S. and Love, J. H. 2002.
Innovation and export performance: evidence from the UK and German manufacturing plants. Research Policy, 31,1087-1102.
Journal of Economics and Management Strategy, 14,431-461. Schreider, J. B.,Stage, F. K.,King, J.,Nora, A. and Barlow, E. A. 2006.
Journal of Evolutionary Economics, 17,161-85. Urban, B. 2008. The prevalence of entrepreneurial orientation in a developing country:
Entrepreneurship, innovation and economic growth: evidence from GEM data. Small Business Economics, 24,335-350. Yamada, K. and Eshima, Y. 2009.
Impact of entrepreneurial orientation: Longitudinal analysis of small technology firms in Japan. The Academy of Management, Annual Meeting Proceedings (Conference Theme:
Then, for each discipline, e g. economics, sustainability can be measured at different (hierarchical) levels like economic agents, households, economic sectors, nations, European union,
and to better forecast cycles in economic activities (Nilsson, 2000. When indicators are in the form of time series the transformation can be made by subtracting the mean over time (t) t qc E x and then by dividing by the mean of the absolute values of the difference from the mean.((
Cherchye L. 2001), Using data envelopment analysis to assess macroeconomic policy performance, Applied Economics, 33,407-416.14.
and van der Straaten J. 1992)- Rethinking environmental economics: missing links between economic theory and environmental policy, Journal of Economic Issues, Vol. XXVI No. 1, pp. 27-51.25.
Dunteman, G.,H. 1989. Principal components analysis. Thousand Oaks, CA: Sage Publications, Quantitative Applications in the Social sciences Series, No. 69.26.
a social choice approach, Journal of Environmental Economics and Management, vol. 47, pp. 270-283.28.
an examination of composite performance indicators, Centre for Health Economics, Technical Paper Series 29.62. Jae-On K,
an index of pollution, Ecological Economics, vol. 35 pp. 191-202.67. Kahn J. R and Maynard P. 1995) Conjoint Analysis as a Method of Measuring Use and Non-Use Values of Environmental Goods,
an index of pollution, Ecological Economics, 32,191-202.125 70. Karlsson J. 1998), A systematic approach for prioritizing software requirements, Phd.
and Kremers J.,(1996), Market opening, regulation and growth in Europe, Economic policy (0) 23.october 78. Korhonen P.,Tainio R,
Munda G. 1995)- Multicriteria evaluation in a fuzzy environment, Physica-Verlag, Contributions to Economics Series, Heidelberg.
Contact Dr Christian Rammer Department of Industrial Economics and International Management Centre for European Economic Research (ZEW) L 7, 1 D-68161 Mannheim
Although comparability of patent data is limited due to different economic values a patent may represent, different degrees of technological novelty and different degrees of actual applicability,
Although comparability of patent data is limited due to different economic values a patent may represent different degrees of technological novelty and different regulations of national patent offices, patent data are
Patents represent different economic values and different degrees of technological novelty. Though many efforts have been made to quantify the value of patents,
These patents are likely to represent higher economic values since these applications are more costly than applying just at a single national patent office.
and hardly any has considered systematically the impacts of the economic crisis, which further limits the accuracy of market forecasts.
http://hesa. etui-rehs. org/uk/dossiers/files/Nano-economics. pdf 3. 3. 1. Nanotechnology cluster Europe:
A few large multinational enterprises act as anchor companies to stimulate economic growth while network organisations are in place to nurture academia-industry collaborations.
pdf 17 http://hesa. etui-rehs. org/uk/dossiers/files/Nano-economics. pdf 18 http://www. nanoforum. org/dateien/temp
which are located within the cluster network to stimulate economic growth. This market structure of a scientific base with MNES acting as anchor companies offers start-ups a good opportunity to settle down on the interface between them in an intermediary role.
/Nano-economics. pdf Chapter 3 Nanotechnology EN 83error! Unknown document property name. EN and nano biochemicals. 25 The cluster established partnerships with local nanotechnology firms to create new businesses, also in other industries such as electronic devices, medical and biotechnology, textiles, mechatronics, and information technologies.
org/uk/dossiers/files/Nano-economics. pdf 37 http://unit. aist. go. jp/nanotech/apnw/articles/library3/pdf/3-34. pdf
/files/Nano-economics. pdf 41 http://eco-pro. biz/ecopro2009/events/E1000. php? tp=1&id=10760 European Competitiveness in KETS ZEW and TNO EN 88error!
There is a strong focus on basic research and a lack of commercialisation activity. 42 http://hesa. etui-rehs. org/uk/dossiers/files/Nano-economics. pdf Chapter 3
During economic downturns production drops sharply but when the economy recovers, semiconductor production does so as well.
Owing to the recent economic downturn, sales had declined by 5. 9 percent in 2009. Regarding the market size in different world regions,
Regarding the short-term perspectives, the financial markets and economic crisis has impacted severely business and consumer confidence worldwide.
and 2) interactions with actors of related economic activities. Several initiatives support collaborative research efforts between industry and academia and firms (as outlined in the financial support section.
During economic downturns production drops sharply but when the economy recovers semiconductor production does so as well.
It is therefore all the more important to secure continuous research and development efforts even in times of economic downturn in order to stay fully operational and innovative when the economy catches up again.
For this purpose the most active applicants were assigned to one industrial or institutional sector based on their main economic activity.
In addition, start-ups founded by scientists are regarded as important transmission media which allow transferring new scientific knowledge in economic activities
provide economic stability and strong international research links. Instead, this role is filled in part by larger public research institutes.
provide economic stability and strong international research links. Instead, this role in case of Optecbb is filled in part by larger public research institutes.
as most other KETS, contribute to economic growth through two ways. On the other hand, photonics applications can help to increase the efficiency of production processes in various industries by enabling more advanced production technologies (e g. in the fields of measuring
This figure does not take into account the economic crisis from 2008/09 and is therefore likely to be overrated.
In the economics of materials, newly introduced materials often reach their maximum penetration rate only after 40 to 50 years after market introduction (see Moskowitz, 2009.
This traditional sector is the second largest industrial employer and an important driver of economic growth in the region (ECRN,
which now receive special tax incentives for existing economic activities in those communities and any future activities such measures may attract.
Tentative estimates for the total market of AMT arrive at global sales (prior to the economic crisis of 2009) of more than 150 billion.
This underscores the importance given to technology development as a basis for economic growth. European countries tend to emphasise the funding of (basic) research and industry-science collaboration
The U s. Small Business Innovation Research Program (SBIR), Small Business Economics 20,129-135. Baptista, R. 1999), The diffusion of process innovations:
a selective survey, International Journal of the Economics of Business 6, 107-129. Barrel, A. 2004), Innovation Champions Network The Cambridge Cluster Description.
a framework for analyzing the international diffusion of environmental innovations, Ecological Economics 52,5 17. Biatour, B c. Chatelain, C. Kegels.
An Econometric Analysis at the Firm Level, Economics of Innovation and New Technology 7, 115 158.
David, P. 1997), Path dependence and the quest for historical economics: One more chorus of the balad of QWERTY, Discussion Papers in Economic and Social History 20, Oxford:
An enquiry into China's evolving institutions and firm capabilities, Journal of Asian Economics 19,301 311.
The Financial crisis and Biotech SMES, September 2009 Rev 06, Brussels. Fagerberg, J. 1995), User-producer interaction, learning and comparative advantage, Cambridge Journal of Economics
Griffith, R.,E. Huergo, J. Mairesse, B. Peters (2006), Innovation and Productivity Across Four European countries, Oxford Review of Economic policy 22,483 498.
Harhoff, D.,F. Narin, F. M. Scherer, K. Vopel (1999), Citation Frequency and the Value of Patented Inventions, The Review of Economics and Statistics 81,511 515.
Analysis of Publications and Patent applications including Comparisons with the United states, Nanotechnology, Law & Business 1. 4. Helpman, E. 1998), General Purpose Technology and Economic growth, Boston:
EN Lipsey, R.,K. Carlaw, C. Bekar (2005), Economic Transformations General Purpose Technologies and Long-term Economic growth, Oxford:
Lucas, R. E. 1988), On the Mechanics of Economic Development, Journal of Monetary Economics 22,3 42.
Technology and Economic growth in the Age of Globalization, Hoboken: John Wiley & Sons, 255ff. Mowery, D c.,J. T. Macher, A. Di Minin (2007), The"Non-Globalization"of Innovation in the Semiconductor Industry, California Management Review 50, 223ff.
Technology and Economics. Cambridge: Cambridge university Press. Sargent, J. F. 2008), Nanotechnology: A Policy Primer, CRS Report for Congress, Washington:
United states Department of agriculture. van Ark, B.,M. Piatkowski (2004), Productivity, innovation and ICT in Old and New Europe, International Economics and Economic policy 1, 215 246
With the economic crisis in Europe and the US, activities for incremental innovation are located increasingly close to the more dynamic Asian markets.
The underlying hypothesis is that periods of deep economic crisis have accelerated historically technological change, at the same time transforming the broader economy. 2 An evidence-based approach is important for going beyond simplistic concepts,
although investments have fallen with the current economic downturn Concerning FDI, the data shows that the EU is still the main destination in the world,
With the economic crisis, outward foreign direct investment flows of European firms have reached the level of FDI flows inside the European union In 2008,
even surpassing the US following the economic crisis. Technology production in the US, when measured in PCT patent applications,
was affected more heavily by the economic crisis, although there has also been a clear recovery trend since 2010.
Press, New york Schön, L. 2009)‘ Technological Waves and Economic growth Sweden in an International Perspective 1850-2005',paper 2009/06, Circle, Lund University Stehrer, R
IT--facilitated clusters is emerging that could bring significant economic growth and wealth to sector participants.
Stakeholder Interests and Influence With recognition of the potential economic value that creative, digital clusters can bring to local,
green economic growth and impressive returns in investment are lost not. The authors are keen to discuss with readers how the research agenda can be progressed.
with Tracy Emin at the vanguard, moved in during the economic downturn of the early 1990s.
Exploring the impact of open innovation on national systems of innovation A theoretical analysis Yuandi Wang a, Wim Vanhaverbeke a b c, Nadine Roijakkers a a Hasselt University, Faculty of business Economics
First, it encourages OI scholars to conduct their research within a broader economic growth perspective as this paper reveals that OI practices are connected closely to a country's specific innovative context.
Its ultimate goals are economic growth, job creation, and acquisition of international skills. Each innovation system performs differently in achieving its supposed aims.
G. Dosi (Ed.),Technical Change and Economic theory, Pinter Publishers, London, 1988.41 M. P. Hekkert, S. O. Negro, Functions of innovation systems as a framework
The Politics of State Policy Innovation, Louisiana State university Press, Baton rouge, 2007.46 C. Freeman, Continental, national and sub-national innovation systems complementarity and economic growth, Res.
Evolutionary Economics and Path Dependency, Elgar, Cheltenham, 1997.61 R. Rothwell, Successful industrial innovation: critical factors for the 1990s, R&d Manage. 22 (1992) 221 239.62 W. Nasierowski, F. J. Arcelus, On the efficiency of national innovation systems, Socioecon.
Rev. 50 (4)( 2009) 68 77.73 J. Stiglitz, C. E. Walsh, Economics, third edition W. W. Norton & Company, New york, 2002.74 D
The Economics of Innovation and Corporate Strategy, MIT Press, Cambridge and London, 2001.76 D. A. Levinthal, J. G. March, The myopia of learning, Strategic Management Journal
in the Economics of Innovation Series, Elgar, Cheltenham, UK; Northampton, MA, 2006.82 K. D. Backer, Open Innovation in Global networks, OECD, Paris, 2008.83 OECD, Open Innovation in Global network, OECD, Paris, 2005.84 C
economics or physics, there is typically a dimension beyond IT to their studies. For example, Jeanette Horan, CIO at American IT company IBM, did a bachelor's degree in mathematics,
DANSK IT 1975 1982 Master of Economics, University of Aarhus 1989 MDP program, Cranfield University Diego Calegari IBM 2013 today Spanish South america CIO Executive
for Romania the small and medium businesses are representing the engine of the economic growth and a vector for disseminating the research and development results.
but also bring more economic growth, employment, a better balance of payments, improve the labor conditions etc. There is clearly a link between microeconomic issues such as entrepreneurial startups and macroeconomic performance.
Ireland's enterprise structure is shifting as services contribute a greater proportion to overall economic growth.
Regions that support strong and dynamic enterprises are crucial to Ireland's return to overall economic growth.
Rising Unemployment and Reskilling The current economic downturn has resulted in a significant increase in unemployment across the country, primarily within construction, retail/hospitality and manufacturing activities.
The current economic downturn the pace at which unemployment has been increasing and uncertainty have exacerbated fears and a call for action.
Enterprise Related Regionally Based Initiatives As a developed economy (facing significant challenges in the current economic downturn) successful enterprise development is premised upon enhanced skills and innovation, leading to improved productivity and competitiveness.
In terms of economic activity, the most prominent sectors in employment terms are the public sector, the financial services sector,
Unlike most other regions in Ireland, the East's employment was not dominated by construction sector during Ireland's period of rapid economic growth.
We have seen already the impacts in terms of a decline in economic activity and increases in unemployment. The more recent downturn in employment is marked particularly in both the construction
and within the context of the current economic downturn, it is even more challenging. Having said that, there are a number of global drivers that will continue to have implications for how companies will do business in the future3,
is to shift economic growth toward export oriented sectors and activities and to stimulate employment opportunities in particular.
SOUTH EAST EMPLOYMENT ACTION PLAN FORFÁS 1. Background and Context Introduction All of the regions in Ireland have potential for economic growth and employment creation.
The occupational profile in the South East (as in all regions) has been affected by the economic downturn.
Completing the Atlantic corridor from Galway to Waterford (including the N25) remains an important medium-term priority for the development agencies to support sustained economic growth and job creation.
despite some set-backs arising from the global economic crisis. Gartner predicted that the global outsourcing industry would see a 10-15 percent annual growth over five years up to 2013
Applications should be sent to rights@oecd. org 3 FOSTERING INNOVATION TO ADDRESS SOCIAL CHALLENGES Foreword Innovation has driven long advances in productivity and economic growth.
firms and public research actors recognise that modern economic growth must go hand in hand with societal progress.
The recent economic crisis, which finds part of its roots in financial innovation, reminds us of the importance of mobilising science,
and make the case for new policies to enable innovation to support the creation of shared social and economic value.
The underlying motive of innovation has been generating economic value. However, looking ahead to the society in the future,
There is a wide consensus that the disconnection between economic growth and wellbeing is increasing. At the same time research and innovation have become one of the main engines of growth However,
The recent economic crisis has made the need for innovation to address social challenges even more apparent and acute.
but notice that much of the thrust and efforts to mobilise STI for society have focused on economic objectives such as competitiveness and economic growth.
However, the current economic crisis reminds us of the importance of mobilising STI not solely for generating economic benefits,
The rationales and opportunities to foster innovation to address social challenges The growth of modern economic systems has generated more numerous, complex and urgent social challenges.
Today, there is a growing consensus that the disconnection between economic growth and social welfare is increasing. Growth does not automatically lead to social welfare anymore
This results in the persistence of social challenges even in countries with significant economic growth and a growing social division between different population classes and countries.
not only create economic value but also enhance social institution. Therefore. NPO, civil society are to be involved, which are rather low key in field of traditional innovation as‘Actor'in charge of leading innovation.
This wave contributes to the economic growth. A proliferation of organizations working on the boundaries of research and practical action.
then this will be visible not only 71 FOSTERING INNOVATION TO ADDRESS SOCIAL CHALLENGES in terms of economic growth figures,
and Performance of Small Technology-Based Firms, Small Business Economics 16 (1), 37 51. Barney, J. 1991.
Comparing Large and Small Multinationals as Technology Producers, Small Business Economics 9 (1), 53 66.
Although they had been recovering from the significant difficulties brought about by the global economic crisis, rising concerns about the sustainability of sovereign debt in Greece and a number of other European countries continue to raise questions about the viability of the euro.
Country Profile Highlights 2012 World Economic Forum Following a protracted economic crisis, Ukraine bounces back to 73rd position in this year's GCI.
Putting economic growth on a more stable footing in future will require Ukraine to address important challenges.
Infrastructure (95th), strained by rapid economic growth, remains a major challenge for the country despite some improvement in recent years, with particular concerns about the quality of roads (120th) and ports (113th.
Despite this rather optimistic outlook, the region may face the interrelated potential headwinds of a less robust recovery in the United states, a deceleration in the economic growth of China and other Asian emerging economies,
and the sovereign debt crisis in Southern Europe that is affecting the economic growth forecast in all of Europe.
Against this backdrop, boosting national competitiveness by raising productivity is the best way to ensure economic growth over the longer term and increase the region's resilience to economic shocks.
many economic activities will require higher levels of skills and innovation in order to increase their competitiveness potential.
which sharply affect economic activity, the country still benefits from well-functioning institutions (24th) and good infrastructure (22nd).
and support economic growth going into the future. Jordan improves by seven positions to 64th rank. The country was affected considerably by the global financial and economic crisis in recent years.
GDP growth slowed down to 2. 3 percent annually in 2010 and has returned not to pre-crisis levels
Many economic policy challenges lie ahead for the new government to put the country on a sustainable and equitable growth path.
Indeed, the region has bounced back rapidly from the global economic crisis, when GDP growth dropped to 2. 8 percent in 2009.
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