Chief Economist THE GLOBAL COMPETITIVENESS AND BENCHMARKING NETWORK Margareta Drzeniek Hanouz, Head of the Global
Economist Beã at Bilbao-Osorio, Associate Director, Senior Economist Ciara Browne, Director Roberto Crotti, Quantitative Economist
Attilio Di Battista, Junior Quantitative Economist Gaã lle 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 We are grateful to Mirza Taqi for his invaluable research
assistance The terms country and nation as used in this report do not in all cases refer to a territorial entity that is a state
as understood by international law and practice. The terms cover well-defined, geographically self-contained economic areas that may not be states but for which
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†2015 v
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 Willox, Chief executive officer Austria Austrian Institute of Economic Research (WIFO Karl Aiginger, Director Gerhard Schwarz, Coordinator, Survey Department
Entrepreneurship, Governance and Strategy Bhutan Bhutan Chamber of commerce & Industry (BCCI Phub Tshering, Secretary general Kesang Wangdi, Deputy Secretary general
Druk Holding & Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo
Services Department Brazil Fundaã§Ã£o Dom Cabral, Innovation Center Carlos Arruda, Associate dean for Business Partnership
of Economics and Management Cambodia Nuppun Institute for Economic Research (NUPPUN Pheakdey Em, Research Associate
Institute of Economic system and Management National Development and Reform Commission Chen Wei, Research Fellow Dong Ying, Professor
University of Finance and Economics Bojuan Zhao, Professor Lu Dong, Professor Jian Wang, Associate professor Hongye Xiao, Professor
Rodrigo Moreira, Director of Enterprise Development Sara Patricia Rivera, Research Analyst John Rodrã guez, Project Manager
Anzoumane Diabakate, Head of Communications Jean Rock Kouadio-Kirine, Head of Regional Economic Information Marie-Gabrielle Varlet-Boka, Director General
University of Economics, Faculty of International Relations Å tä pã¡n MÃ ller, Dean Denmark
Iman Al-Ayouty, Senior Economist Tarek El-Ghamrawy, Economist Omneia Helmy, Director of research Estonia Estonian Institute of Economic Research (ECES
Marje Josing, Director Estonian Development Fund TÃ nis Arro, Chief executive officer Ethiopia African Institute of Management, Development
ETLA€ The Research Institute of the Finnish Economy Markku Kotilainen, Research director Petri Rouvinen, Research director Vesa Vihriã¤lã¤,Managing director
Ralf Fendel, Professor of Monetary Economics Michael Frenkel, Professor, Chair of Macroeconomics and International Economics
Ghana Association of Ghana Industries (AGI Patricia Addy, Projects Officer James Asare-Adjei, President Seth Twum-Akwaboah, Executive director
Greece SEV Hellenic Federation of Enterprises Michael Mitsopoulos, Senior Advisor, Infrastructures and Business Environment Thanasis Printsipas, Economist, Entrepreneurship
Guatemala FUNDESA Felipe Bosch G.,President of the Board of directors Pablo Schneider, Economic Director Juan carlos Zapata, Chief executive officer
Guinea Confã dã ration Patronale des Entreprises de Guinã e Mohamed BÃ nogo Conde, Secretary-general
Guyana Institute of Development Studies, University of Guyana Karen Pratt, Research Associate Tessa Pratt, Research Associate
David O†Rear, Chief Economist Federation of Hong kong Industries Alexandra Poon, Director Hungary KOPINT-Tà RKI Economic Research Ltd
Center for Industry, SME & Business Competition Studies University of Trisakti Tulus Tambunan, Director Iran, Islamic Republic of
Conor Hand, Economist Israel Manufacturers Association of Israel (MAI Dan Catarivas, Foreign Trade & International Relations Director
William Lawrence, Director, Professional Services Unit Densil Williams, Executive director and Professor Japan Keio University Yoko Ishikura, Professor, Graduate school of Media Design
Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao PDR Enterprise & Development Consultants Co.,Ltd
Latvia Stockholm School of economics in Riga Arnis Sauka, Head of the Centre for Sustainable Development Lebanon
Ona Grigiene, Deputy Head, Knowledge 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
Council (NECC Dejan Janevski, Project Coordinator Madagascar Centre of Economic Studies, University of Antananarivo Ravelomanana Mamy Raoul, Director
Board of Investment, Mauritius Manaesha Fowdar, Investment Executive, Competitiveness Khoudijah Maudarbocus-Boodoo, Director Ken Poonoosamy, Managing director
Joint Economic Council Raj Makoond, Director Mexico Center for Intellectual Capital and Competitiveness Erika Ruiz Manzur, Executive director
Renã Villarreal Arrambide, President and Chief executive Officer Rodrigo David Villarreal Ramos, Director Instituto Mexicano para la Competitividad (IMCO
Marã a Zimbrã n Alva, Communication Coordinator Ministry of the Economy Adolfo Cimadevilla Cervera, Technical Secretary
for Competitiveness Sergio Merino Gonzã¡lez, Deputy General Director for Competitiveness Marã a del Rocã o Ruiz Chã¡
Oyunbadam Davaakhuu, Manager of Economic policy Erdenejargal Perenlei, Executive director Montenegro Institute for Strategic Studies and Prognoses (ISSP
Public Authority for Investment Promotion and Export Development (ITHRAA Azzan Qassim Al-Busaidi, Director General
Research & E-Services Pakistan Mishal Pakistan Puruesh Chaudhary, Director Content Amir Jahangir, Chief executive officer Paraguay
Foundation for the Advancement of Economics (FREN Aleksandar Radivojevic, Project Coordinator Svetozar Tanaskovic, Researcher Jelena Zarkovic Rakic, Director
Plutus Auditing & Accounting Services Nicolas Boulle, Partner Marco L. Francis, Partner Singapore Economic Development Board
Kgatlaki Ngoasheng, Executive director, Economic policy Spain IESE Business school, International Center for Competitiveness Marã a Luisa Blã¡
Dayenne Wielingen, Economic policy Officer Kenneth Woei-A-Tsoi, Executive director Swaziland Federation of Swaziland Employers and Chamber
International University of Entrepreneurship and Technology Association (IUET Thomas Andersson, President Switzerland University of St gallen, Executive School of management
Tobias Trã tsch, Communications Manager Taiwan, China National Development Council Chien-Liang Chen, Deputy Minister
Vladimir Dubrovskiy, Leading Economist United arab emirates Department of Economic Development†Abu dhabi Competitiveness Office of Abu dhabi (COAD
LSE Enterprise Ltd Adam Austerfield, Project Director Elitsa Garnizova, Project Officer & Researcher Robyn Klingler-Vidra, Senior Researcher
Investment Promotion Litsay Guerrero, Economic Affairs and Investor Services Manager Eduardo Porcarelli, Executive director  2014 World Economic Forum
The Global Competitiveness Report 2014†2015 xi Partner Institutes Vietnam Ho chi minh city Institute for Development Studies (HIDS
launched at a time 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
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
order to ensure robust economic growth that supports more-inclusive economies. Economic and social agendas must go hand in hand
and focus on reforms that will render economies more productive and open up new and better job opportunities for all segments
of the population. Better assigning available resources to productive activities is crucial and requires well
-functioning markets. In addition, as indicated in previous editions of this Report, strong institutions, available talent, 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
determine economic growth and the level of present and future prosperity in a country. In doing so, since
of each of the economies covered, so that stakeholders can work together on shaping economic agendas
opportunities In this context, policymakers, businesses, and citizens increasingly recognize the need for economic growth to be balanced by providing opportunities and
benefits for all segments of the population and by being respectful of the environment. In sum, the social
and environmental dimensions of an economy need to be considered fully in any growth or development
agenda. Although the relationship between productivity social development, and environmental stewardship is complex, the Forum has continued its research into how
competitiveness performance of 144 economies and thus continues to be the most comprehensive assessment of its kind globally.
profile for each of the economies included in the study as well as an extensive section of data tables with global
Economist; and Margareta Drzeniek Hanouz, Head of The Global Competitiveness and Benchmarking Network, as well as team members Beã at Bilbao-Osorio
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
Japan†s economy while still needing to translate Abenomics into stronger private demand, seems to be waking up after two
decades of stagnation. In Europe the picture is more mixed, with many countries now recording stronger
by protracted internal demand, high unemployment and financial fragmentation. 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 To a large extent, the improvement of the global
economic outlook has been the result of bold monetary policies carried out by the Federal reserve and Central
available in the economy. As the economic situation improves, a normalization of the monetary policy with a
and, most notably, emerging economies could jeopardize the rather positive forecast, especially if productivity -enhancing investment levels do not manage to pick up
Investment and the recovery more broadly will also be influenced by the fact that low inflation, or even deflation
in key advanced economies remains a tangible risk that could derail recovery because real interest rates may
rise, increasing the burden of public debt and leading to a stagnation of consumption and investment rates
In addition, in recent months, a strained geopolitical situation has emerged. Tensions in Ukraine with implications for the relationship between Russia and
much of the Western world, as well as between China and Japan, have become more evident. Although
the level of productivity of economies. In order to achieve higher levels of productivity, new actions in
and productivity-enhancing investments are required These measures are not only important, as they have always been,
opportunities and new jobs for larger segments of the population For more than three decades, the World Economic
discussion among all stakeholders about the best strategies and policies to help countries to overcome the
is to inform a series of structured multi-stakeholder dialogues that can raise awareness and rally support
offer enhanced opportunities, and raise prosperity THE 12 PILLARS OF COMPETITIVENESS We define competitiveness as the set of institutions
an economy. The productivity level also determines the rates of return obtained by investments in an economy
which in turn are the fundamental drivers of its growth rates. In other words, a more competitive economy is
one that is likely to grow faster over time The concept of competitiveness thus involves static
its return on investment, which is one of the key factors explaining an economy†s growth potential
this process has occupied the minds of economists for hundreds of years, engendering theories ranging from Adam Smith†s focus on specialization and the
on investment in physical capital and infrastructure, 2 and, more recently, to interest in other mechanisms
of an economy The components are grouped into 12 pillars of competitiveness First pillar: Institutions The institutional environment is determined by the legal
and administrative framework within which individuals firms, and governments interact to generate wealth. The importance of a sound and fair institutional environment
has become all the more apparent during the recent economic and financial crisis and is especially crucial for further solidifying the fragile recovery,
level and for the economies of many countries The quality of institutions has a strong bearing on
competitiveness and growth. 4 It influences investment decisions and the organization of production and plays
More than ever, cities are the lifeblood of the global economy Increasingly they determine the wealth of nations,
inputs efficiently to drive sustainable economic growth and prosperity Never before has urbanized the world at the speed and
involves stable and prudent fiscal policies, including efficient and simple taxation; a flexible labor market openness to trade and foreign investment;
simple and transparent business regulation†is the primary lesson for good public policy, at both national and municipal levels
Cities should develop their own foreign economic policies on trade, foreign investment, tourism, and attracting for
-eign talent, and go global as far as they can •Third, think â€oehard connectivity††the city†s core physical
•Fourth, think â€oesoft connectivity††the city†s social capital Education is the ultimate soft connectivity.
grasp this opportunity, experiment with new rules, and put reforms on a fast track Notes
of competitiveness for economic growth and to identify ways countries can systematically transform their economies. It
monitors key trends, identifies global risks, charts relationships addresses gaps in knowledge and recommends ways to address
Clã ment Gignac, Chief Economist and Senior vice-president, Industrial Alliance Insurance and Financial services, Canada (Vice Chair;
Mohamed El Dahshan, Regional Economist, African Development Bank; Janamitra Devan, Independent Adviser, Strategy and Leadership, USA;
trustworthiness, inability to provide appropriate services for the business sector, and political dependence of the judicial system impose significant economic costs
business environment. Indicators capturing the quality of government management of public finances are therefore included here to complement the measures of
An economy is served well by businesses that are run honestly, where managers abide by strong ethical practices in their dealings with the government
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. Well-developed
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 Effective modes of transport†including quality roads, railroads, ports, and air transport†enable
entrepreneurs to get their goods and services to market in a secure and timely manner and facilitate
the movement of workers to the most suitable jobs Economies also depend on electricity supplies that are
free from interruptions and shortages so that businesses and factories can work unimpeded. Finally, a solid
Macroeconomic environment The stability of the macroeconomic environment is important for business and, therefore, is significant for
the overall competitiveness of a country. 10 Although it is certainly true that macroeconomic stability alone cannot
that macroeconomic disarray harms the economy, as we have seen in recent years, conspicuously in the
services efficiently if it has to make high-interest payments on its past debts. Running fiscal deficits limits
Firms cannot operate efficiently 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
the stability of the macroeconomic environment, so it does not directly take into account the way in which
Investment in the provision of health services is thus critical for clear economic, as well as moral, considerations. 11
In addition to health, this pillar takes into account the quantity and quality of the basic education received by
economy. Basic education increases the efficiency of each individual worker. Moreover, often workers who have received little formal education can carry out only
economies that want to move up the value chain beyond simple production processes and products. 12 In particular, today†s globalizing economy requires
countries to nurture pools of well-educated workers who are able to perform complex tasks and adapt rapidly to
their changing environment and the evolving needs of the production system. This pillar measures secondary
services given their particular supply-and-demand conditions, as well as to ensure that these goods can
be traded most effectively in the economy. Healthy market competition, both domestic and foreign, is important in driving market efficiency, and thus business
productivity, by ensuring that the most efficient firms producing goods demanded by the market, are those
The best possible environment for the exchange of goods requires a minimum of government intervention that impedes business activity.
rules on foreign direct investment (FDI) †which limit foreign ownership†as well as on international trade.
recent economic crisis has highlighted the high degree of interdependence of economies worldwide and the degree to which growth depends on open markets
Protectionist measures are counterproductive as they reduce aggregate economic activity Market efficiency also depends on demand conditions such as customer orientation and buyer
sophistication. For cultural or historical reasons customers may be more demanding in some countries than in others.
This can create an important competitive advantage, as it forces companies to be more innovative
and customer-oriented and thus imposes the discipline necessary for efficiency to be achieved in the market
most effective use in the economy and provided with incentives to give their best effort in their jobs.
workers from one economic activity to another rapidly and at low cost, and to allow for wage fluctuations
equity in the business environment between women and men. Taken together these factors have a positive effect
The financial and economic crisis has highlighted the central role of a sound and well-functioning financial
sector for economic activities. An efficient financial sector allocates the resources saved by a nation†s
citizens, 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
Business investment is also critical to productivity Therefore economies require sophisticated financial markets that can make capital available for private-sector
investment from such sources as loans from a sound banking sector, well-regulated securities exchanges
venture capital, and other financial products. In order to fulfill all those functions, the banking sector needs to be
trustworthy and transparent, and†as has been made so clear recently†financial markets need appropriate regulation to protect investors and other actors in the
economy at large Ninth pillar: Technological readiness In today†s globalized world, technology is increasingly essential for firms to compete and prosper.
which an economy adopts existing technologies to  2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014†2015
and communication technologies (ICTS) in daily activities and production processes for increased efficiency and enabling innovation for competitiveness. 14 ICTS have
domestic demand in determining the size of the market for the firms of a country. 17 By including both domestic
give credit to export-driven economies and geographic areas (such as the European union) that are divided into
goods and services. Business sophistication concerns two elements that are linked intricately: the quality of a
opportunities for innovation in processes and products are created, and barriers to entry for new firms are
sophisticated products) spill over into the economy and lead to sophisticated and modern business processes across the country†s business sectors
improving human capital, all these factors eventually run into diminishing returns. The same is true for the
gains that our economies have experienced historically These range from the industrial revolution in the 18th century and the invention of the steam engine and
of new possibilities in terms of products and services Innovation is particularly important for economies as they
approach the frontiers of knowledge, and the possibility of generating more value by merely integrating and
an environment that is conducive to innovative activity and supported by both the public and the private
In particular, it means sufficient investment in research and development (R&d), especially by the private sector; the presence of high-quality scientific
levels of competition and access to venture capital and financing that are analyzed in other pillars of the Index
pressures faced by advanced economies, it is important that public and private sectors resist pressures to cut
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
environment Pillar 4. Health and primary education Figure 1: The Global Competitiveness Index framework Key for
economies Key for efficiency-driven economies Key for innovation-driven economies Pillar 1. Institutions Pillar 2. Infrastructure
Pillar 3. Macroeconomic environment Pillar 4. Health and primary education Pillar 11. Business sophistication Pillar 12.
Innovation Pillar 5. Higher education and training Pillar 6. Goods market efficiency Pillar 7. Labor market efficiency
Pillar 8. Financial market development Pillar 9. Technological readiness Pillar 10. Market size Basic requirements
or commodities, with their low productivity reflected in low wages. Maintaining competitiveness at this stage
environment (pillar 3), and a healthy workforce that has received at least a basic education (pillar 4
pillars that are more relevant for an economy given its particular stage of development. That is, although all
services), and assumes that countries with more than 70 percent of their exports made up of mineral products
economies that have reached very high levels of income the capacity to increase the productivity of any other
wealthier than economies at the technological frontier are classified in the innovation-driven stage. 22 Any countries
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
are not available for the entire set of economies. The Survey process and the statistical treatment of data are
This year the Report covers 144 economies. In this edition, because of data availability issues, we could
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 CÃ'te d'Ivoire Gabon Dominican republic Croatia Denmark
Ethiopia Honduras Egypt Hungary Estonia Gambia, The Iran, Islamic Rep. El salvador Kazakhstan Finland Ghana Kuwait Georgia Latvia France
tool that can measure and benchmark the drivers of competitiveness and prosperity in an economy, and that
can stimulate a constructive dialogue to catalyze the needed reforms and productive investments THE GLOBAL COMPETITIVENESS INDEX 2014†2015
RANKINGS Tables 3 through 7 provide the detailed rankings of this year†s GCI. The following sections discuss the findings
well as for a number of selected economies in each of the five following regions:
highly advanced Western economies and several Asian tigers. For the sixth consecutive year Switzerland leads
second-most competitive economy in the world. Overall the rankings at the top have remained rather stable
that offers excellent on-the-job-training opportunities The labor market balances employee protection with flexibility and the country†s business needs (1st.
Switzerland†s macroeconomic environment is among the most stable in the world (12th) at a time when many
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. Singapore†s competitiveness is further enhanced by its strong focus on education, which has
Country/Economy Rank out of 144 Score 1†7 Rank among 2013†2014 economies *GCI 2013â€
2014 rank out of 148) †Switzerland 1 5. 70 1 1 Singapore 2 5. 65 2 2
Country/Economy Rank out of 144 Score 1†7 Rank among 2013†2014 economies *GCI 2013â€
2014 rank out of 148) †Sri lanka 73 4. 19 73 65 Botswana 74 4. 15 74 74
*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.
†The 2013†2014 edition of the Global Competitiveness Report covered 148 economies  2014 World Economic Forum
Country/Economy Rank Score Rank Score Rank Score Rank Score Switzerland 1 5. 70 4 6. 17 5 5. 49 1 5. 74
Country/Economy Rank Score Rank Score Rank Score Rank Score Sri lanka 73 4. 19 75 4. 51 75 3. 97 43 4. 00
Ranks out of 144 economies and scores measured on a 1-to-7 scale  2014 World Economic Forum
BASIC REQUIREMENTS 1. Institutions 2. Infrastructure 3. Macroeconomic environment 4. Health and primary education Country/Economy Rank Score Rank Score Rank Score Rank Score Rank Score
Albania 97 4. 14 103 3. 38 90 3. 52 122 3. 82 62 5. 85
BASIC REQUIREMENTS 1. Institutions 2. Infrastructure 3. Macroeconomic environment 4. Health and primary education Country/Economy Rank Score Rank Score Rank Score Rank Score Rank Score
Libya 111 3. 86 142 2. 62 113 2. 88 41 5. 36 119 4. 55
Ranks out of 144 economies and scores measured on a 1-to-7 scale  2014 World Economic Forum
Country/Economy Rank Score Rank Score Rank Score Rank Score Rank Score Rank Score Rank Score
Country/Economy Rank Score Rank Score Rank Score Rank Score Rank Score Rank Score Rank Score
Ranks out of 144 economies and scores measured on a 1-to-7 scale  2014 World Economic Forum
Country/Economy Rank Score Rank Score Rank Score Albania 114 3. 17 104 3. 61 120 2. 73
Country/Economy Rank Score Rank Score Rank Score Libya 143 2. 49 135 3. 01 144 1. 98
Ranks out of 144 economies and scores measured on a 1-to-7 scale  2014 World Economic Forum
features that make its economy extremely productive US companies are sophisticated highly and innovative and they are supported by an excellent university system
opportunities afforded by the sheer size of its domestic economy†the largest in the world by far†these qualities
macroeconomic environment remains the country†s greatest area of weakness (113th), although the fiscal deficit continues to narrow
to downgrade the outlook of this Nordic economy More precisely, Finland suffers from higher, though
Very high public and private investments in R&d (3rd), with very strong linkages between universities
macroeconomic environment and financial development Moreover, Germany†s education system is assessed less positively than it was in previous years (16th
the development of new goods and services. High -quality infrastructure (7th) and excellent on-the-job training (6th) complement these strengths.
economy could be more competitive if its labor markets were made even more efficient. In recent years, labor
posts the largest improvement of the top 10 economies thanks to small improvements across the board. Japan
high-value-added goods and services. However, the country†s overall competitive performance continues to be dragged down by severe macroeconomic challenges
At least the country†s battle against deflation has started bearing fruit: prices in 2013 increased for the first
The economy also continues to dominate the financial market development pillar owing to the high level of efficiency, trustworthiness
of the most open economies in the world. In order to enhance its competitiveness, Hong kong must improve
building a truly innovation-driven economy, Hong kong can rely on its high degree of technological readiness
economy to remain highly productive. An excellent education and training system (3rd), coupled with a
and economic crisis. Moreover, and perhaps more importantly, Sweden has managed to create the right set of conditions for innovation and unsurprisingly scores
innovation-based economy; ICT adoption (3rd) is among the highest in the world; and, in terms of innovation
products and services with higher value-added. Going forward, the country should address its labor market regulations (59th) and the potential distortions that a
10 most competitive economies, while at the same time, many countries in Southern and Central and
between those economies that are adopting and implementing the reforms necessary to become more competitive†these include countries such as Greece
rankings†and some other economies, such as France and Italy, which are not recording much progress Denmark improves by two positions to reach 13th
adapt rapidly to a changing environment and has laid the ground for high levels of technological adoption and
education and training system (5th) †with excellent math and science education (3rd), topnotch management
competition (6th) and an environment that facilitates new business creation. Notwithstanding these strengths some concerns remain about the efficiency of Belgium†s
) a solid macroeconomic environment (20th; and high levels of education and training (20th. Its labor market is also more efficient than in most countries in the
Further investment in infrastructure (38th) would also be warranted, as transport infrastructure in particular is not yet up to
tape to foster entrepreneurship (99th; and enhancing flexibility (120th) in the labor market, although much remains to be addressed.
R&d investments (52nd) and weak university-industry collaborations (57th After falling in the rankings for several years
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
lowest ranked EU economies Poland maintains its positioning overall and comes in at 43rd place.
-driven economy will be necessary for Poland to sustain its growth going forward. The country can build on a
medium-sized enterprises (SMES) †continue to suffer from weak access to financing (139th) that,
a high tax rate (134th), affects their investment capacity In addition, as already mentioned, the labor market remains very rigid (136th) and unable to make an efficient
competition), ICT use, and business sophistication†although this arguably reflects some positive developments that took place before the Ukraine conflict
At the time of writing, the Russian economy continues to face many deeply rooted challenges that
of the economy will need reinforcing the very small SME sector as well as continued progress toward a
will be necessary in order to put economic growth on a sustainable footing. These include an overhaul of the
economy and enable Ukraine to better take advantage of its numerous competitiveness strengths, such as its well
of its market for goods and services. According to business executives, domestic markets are dominated by few firms and taxation is burdensome,
focus on strengthening its macroeconomic environment which remains burdened by a fairly high budget deficit As Croatia will move into the innovation-driven stage of
enhanced levels of competition (71st) and more flexible labor markets (although they remain rather rigid, 117th
support a structural change of the Greek economy so that it can move toward more productive, knowledge
investments in knowledge-generating activities, such as R&d (114th Asia and the Pacific The competitiveness landscape in the Asia and the
is home to three of the 10 most competitive economies in the world: Singapore, Japan, and Hong kong SAR
A further three economies are featured in the top 20 Taiwan (China), New zealand, and Malaysia (20th), which
The five largest Southeast Asian economies (ASEAN-5 all feature in the top half of the rankings, and all of them
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
as Malaysia, the goal is to transform the economy to become more knowledge-driven in order to avoid
increase competition, and encourage a more optimal allocation of financial resources. In most emerging Asian
economies, common challenges include addressing the huge infrastructure deficit and improving regional connectivity; reducing red tape, which will promote
economic formality and entrepreneurship and reduce pervasive and deep-rooted corruption; and improving market efficiency by phasing out distortionary measures
Asian economies. Malaysia advances nine positions in the institutions pillar, which largely drives this year†s
goods and services markets and a business-friendly institutional framework (29th. In a region plagued by
knowledge-based economy by the end of the decade Amid this largely positive assessment, the government
environment (7th, second only to Norway among OECD countries. The country also boasts excellent infrastructure (14th),
continues to lead the BRICS economies by a wide margin†well ahead of Russia (53rd), South africa (56th
ecosystem for entrepreneurship and innovation higher education and training (65th, up five; business sophistication (43rd, up two;
with investment rules, greatly limit competition. China is becoming more innovative (32nd), but it is not yet an
inflation is below 3 percent; budget  2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014†2015
China to rebalance its economy away from investment and toward more consumption. Despite the persistence
of massive investments. Trends are largely positive, but now is not the time for China to be complacent.
advanced economies. China must now create the high -value jobs that will sustain the increasing standards of
moves up 12 places in the macroeconomic environment pillar and now ranks 19th, its best showing among
budget and reduced inflation to 2 percent. Public debt remained stable and the savings rate was high.
competition remains limited by a number of barriers to entry, especially those affecting foreign investments
Considerable challenges remain in other areas: first and foremost these relate to governance. Political and policy
reviving the economy, which is growing at half the rate of 2010. Boxâ 2 details India†s performance
Following an episode of double-digit inflation in 2011, its macroeconomic situation continues to improve (75th, up
as inflation declined to 6. 6 percent. Public institutions also receive a better assessment (85th, up
still lack access to basic services and opportunities, such as sanitation, healthcare, and quality schooling. Improving the
In 2013, its economy grew by a modest 4. 4 percent (see Figureâ 1). Improving competitiveness
ranks 71st (down 11) out of 144 economies in the Global Competitiveness Index (GCI) 2014-2015 (see Figureâ 2). It is
the lowest ranked among the BRICS economies. The rank differential with China (28th) has grown from 14 places in
different trajectories of these two economies India†s slide in the competitiveness rankings began in
2009, when its economy was still growing at 8. 5 percent (it even grew by 10.3 percent in 2010.
But for these types of investments to materialize the institutional framework needs to improve. There are
the overall business environment and market efficiency 95th, down 10 places) are undermined by protectionism monopolies, and various distortionary measures, including
on average, to 63 percent of its profits (130th. Furthermore the labor market is inefficient and rigid (112th.
into the formal economy. Some estimates find that the informal sector accounts for half of India†s economic output
basic services, including sanitation and healthcare, and for improving India†s physical and digital connectivity
macroeconomic environment pillar of the GCI. With the exception of 2007, the central government has consistently
near double-digit, inflation, which reached 9. 5 percent in 2013. The Reserve bank of India is torn between keeping
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:
environment (101 Health and primary education (98 Higher education and training (93 Goods market efficiency (95
interest rates low to stimulate the faltering economy and tightening monetary policy to stem inflation Improving competitiveness will yield India huge benefits
In particular, it will help rebalance the economy and move the country up the value chain
so as to ensure more solid and stable growth; this in turn could result in more employment opportunities for the country†s rapidly growing population
Despite the abundance of low-cost labor, India has a very narrow manufacturing base. Manufacturing accounts for less
The services sector accounts for just 28 percent of employment but for 56 percent of the economy.
Most services jobs are low-skilled and poorly paid ones, though. White collar jobs remain rare
For example, the vibrant business-process outsourcing sector employs 3. 1 million workers, or 0. 6 percent of India†s
investments, a fall in exports and commodity prices, and tighter access to finance that, to a large extent, fueled
of its economy by boosting its level of competitiveness However, regional productivity continues to be low
and trailing other emerging or advanced economies A lack of sufficient investments in growth-enhancing
areas, such as infrastructure, skills development and innovation, coupled with insufficient and delayed reforms needed to improve business conditions and
of the local economies of the region to move toward more productive sectors and thus, higher levels of
the necessary investments and by fully and efficiently implementing structural reforms has become not only important but also urgent if the region is to be able to
year and remains the most competitive economy in Latin america, with a very stable profile. The country
need for Chile to diversify its economy by moving toward more knowledge-based activities. In this context, the
quality (71st) †especially in math and science (99th) †do not provide companies with a workforce that has the
This difficulty†together with low innovation investment especially in the private sector (77th) †results in a poor
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
the right set of skills for an economy that increasingly needs a skilled labor force to sustain the sharp economic
growth of past years. This skills shortage is perceived as one of the most problematic factors for doing business
by raising new equity (91st), loans (101st), or venture capital (101st) to support innovative projects.
flow of financing toward productive investments will be crucial to allow the country to recover the ground lost
necessary set of skills for an economy in transition toward more knowledge-based activities. Addressing
economies, will require implementing reforms and engaging in productive investments (see Boxâ 3). This approach is not only important
but has become urgent for reinforcing Brazil†s resilience. The country is poised to face strong headwinds related to recent shifts in the
global economy, with a drop in the international price of commodities and potential outflows of capital that had
come into the country from some advanced economies during the height of the financial crisis. Notwithstanding these challenges, Brazil still benefits from important
strengths, especially its large market size and its fairly sophisticated business community (47th), with pockets of innovation excellence (44th) in many research-driven
deliver on the skill set that a changing Mexican economy requires; and its low level of ICT uptake (88th), which
intended to increase the level of competition and efficiency in the functioning of Mexico†s markets have
its relatively stable macroeconomic environment 53rd), its large and deep internal market that allows for important economies of scale (10th), reasonably
Competitiveness and the need for structural reform in large emerging economies In recent decades, many emerging economies benefited
from rapid economic growth, which allowed them to gain a more prominent role in the global economy. 1 Emerging
economies drove growth throughout the economic crisis. In 2009†the worst year of the crisis†the combined GDP of
advanced economies contracted by 3 percent while emerging economies grew by 3 percent. Overall, between 2007 and
2013, emerging economies grew by 5. 9 percent annually five percentage points more than advanced economies These radically different trajectories accelerated the shift
of economic power from advanced economies toward the emerging world, which in 2012 accounted for more than
half of global output for the first time in recent history. High commodity prices and better access to financing thanks to
the inflow of capital, often from advanced economies, go a long way toward explaining these positive developments in
recent years However, since 2010, economic growth has been slowing down in emerging economies, which grew by 4. 7
percent in 2013, the second lowest rate since 2002, and the International monetary fund has revised recently its forecast
for 2014 down to 4. 6 percent. 2 The slowdown can be attributed to several factors
Overall, commodity prices, with the exception of oil prices have stagnated or started to fall. At the same time, the outflow
of capital and the phasing out of accommodating monetary policy in the United states have created further instability and
worsened credit access conditions for emerging economies In addition, emerging economies for the most part did not use the recent spell of high growth to implement the
structural reforms needed to boost productivity and build competitiveness. The necessary reforms are particularly critical
in three areas:(1) boosting competition, especially in strategic sectors of the economy, by removing bottlenecks and barriers
to entry;(2) making the labor markets more flexible and more effective at using all existing talent;
and (3) improving the efficiency of public institutions, which is also crucial to ensure an effective implementation of structural reforms
The Global Competitiveness Index (GCI) reveals the poor performance among many of the 20 largest emerging
economies†which together account for 27 percent of global GDP€ in terms of the functioning of their institutions, as well
119th in market competition and 102nd in public institutions Among the BRICS, China has lost 22 places in terms of market
competition since 2010, and both India and Brazil have lost considerable ground in all three areas
emerging economies to promptly and efficiently implement structural reforms. Those reforms are necessary to increase
â€oeemerging Economies, †to refer to the group of â€oedeveloping and Emerging Market Economies†as defined by the International
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†2015 rank Since 2010*2014†2015 rank Since 2010*2014†2015 rank Since 2010
Ranks are out of 144 economies *Change in ranking between the 2010†2011 and the 2014†2015 editions of the GCI
and use knowledge and thus diversify its economy toward more productive activities will require raising the
providing the skills needed for a changing economy; to boost technology adoption (92nd), including a broader
and inflation that is under control at around 2 percent; financial services that are relatively sophisticated by regional standards (53rd;
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
better public investment but also a decisive recognition on the part of Colombian firms of the need to innovate
by undertaking the right set of investments in areas such as R&d (84th) as well as on-the-job training schemes
rise is led by improvements in its level of competition in the goods market (54th) thanks to the reduction of
economic context characterized by lower commodity prices that can drastically affect The argentine economy Overall, the country continues to face adverse
macroeconomic conditions (102nd) that affect its access to credit (134th. It also suffers from a weak institutional
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, public debt, and deficit coupled with a weak institutional set up, high levels of corruption
 2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014†2015 36 The Global Competitiveness Report 2014†2015
African economies, such as Egypt and Tunisia, are slowly stabilizing and are starting to focus on economic
environments will help restore the still-shaken investor confidence in countries in transition in the region
Other economies, such as Libya and Lebanon, remain affected by conflict or unrest within their own borders
small, energy-rich economies continue to perform well in the rankings, building on their resource-driven
macroeconomic environment (5th) and some positive aspects of the country†s institutions†such as strong public trust in politicians (3rd) and high government
investment to boost health and educational outcomes 38th on the health and primary education pillar. Raising
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
order to achieve a more diversified economy. Improving educational outcomes, especially participation in primary and tertiary education;
quality of education and level of domestic competition The country will need to enhance competitiveness to further diversify its economy
and create sufficient number of jobs for the growing workforce. Overall its competitiveness benefits from high levels of
among the Gulf Cooperation Council (GCC) economies 20th). ) Yet Saudi arabia also faces important challenges going forward.
respect to training in management (78th) and math and science (73rd. Labor market efficiency (64th) could also
country attempts to diversify its economy, which will require a more skilled and educated workforce.
economies Israel retains the 27th position in this year†s GCI The country†s main strengths remain its world-class
9th), and a favorable financial environment for start-ups availability of venture capital is assessed at 9th place
Yet for the country†s innovation-driven competitiveness strategy to be successful and viable going into the future
educational outcomes†particularly in math and science 79th) and in primary schools (86th) †could undermine
to the macroeconomic environment (50th), although improvements have taken place between 2012 and 2013 as the fiscal deficit and public debt were reduced.
country†s economy, although this has not been the case in the recent past Jordan moves back up to 64th place, a rank it
proximity to GCC economies and Europe, and recent fiscal reforms have created space for shifting spending
Boosting economic growth over the longer term will require Jordan†s policymakers to address a number of challenges.
international trade and investment, which would trigger further efficiency gains in its domestic economy and
facilitate the transfer of knowledge and technology. Tariff barriers remain high in international comparison (107th
environment, particularly its administrative aspects Continuing the process of economic diversification which has boosted already exports and FDI in higher
environment, which remains the country†s most important competitiveness strength (11th. Yet improvements are seen also in other areas, such as
The economy is expected to stabilize after two difficult years, mainly driven by external developments. This steadier economic
context provides an important opportunity for the country to enhance its competitiveness potential. Iran has to build on its solid macroeconomic positioning
country†s economic growth in the shorter as well as longer terms After dropping for several years in a row, Egypt
environment has deteriorated over recent years to reach 141st position mainly because of a widening fiscal deficit, rising public indebtedness, and persisting
Second, measures to intensify domestic competition 118th) would result in efficiency gains and contribute to energizing the economy by providing access to new
entrants. This, in turn, would make the country†s private sector more dynamic, thus fostering the creation of
opportunities Sub-saharan africa Amid the economic turmoil that affected advanced economies in recent years, the sub-Saharan African
region provided something of a silver lining in an otherwise broadly felt economic downturn. As growth is now modestly returning in advanced economies
sub-Saharan economies carry on registering impressive growth rates of close to 5 percent in 2013†with rising
projections for the next two years†below only emerging and developing Asia. Yet important downside risks
remain: although inflation has been coming down from the high rates of the past two years thanks to prudent
monetary policy and moderating food prices, rising fiscal deficits†which are exacerbated most in Zambia Ghana, and Gambia†and a slowdown in emerging
resource-rich economies More importantly, more than a decade of consistent high growth has trickled not yet down to all segments
Most economic activity takes place in the informal sector, accounting for more than half of GDP and employing more than 80 percent of the
still largely agriculture-based economies to higher -value-added activities in order to move the workforce out of agriculture into more productive sectors. 26 The
economies fare relatively well. Although large regional variations remain in terms of competitiveness†ranging from Mauritius, now a solid 17 places ahead of the
for sustaining economic growth and making it more inclusive. These efforts will need to emphasize closing the infrastructure deficit and providing the region†s
competition, and its labor market efficiency (52nd) has been improving thanks to increased flexibility (18th Going forward, as income per capita rises and Mauritius
to develop its human capital. Although rising enrollment rates, particularly tertiary enrollment, are laudable (40.32
economies. South africa does well on measures of the quality of its institutions (36th), including intellectual
efficient market for goods and services (32nd), and it does reasonably well in more complex areas such as
advanced economies, notably the euro area, has made it more vulnerable to the economic slowdown of those
economies. These ties are likely to have contributed to the deterioration of fiscal indicators: its performance
a skilled labor force and creating sufficient employment also present considerable challenges. The health of the
macroeconomic environment (13th), based on balanced fiscal budgets. However, the country†s heavy reliance on diamond mining (which accounts for one-third of
transition to becoming an efficiency-driven economy Education enrollment rates at all levels remain low by
on the mining sector and to set its economy on a more diversified growth path Namibia moves up by two places to 88th position
functioning institutional environment (50th), with well -protected property rights, an independent judiciary, and a fairly efficient government.
and diversify its economy, efforts to build its human resource base will be critical: school enrollment rates remain low compared with other sub
Its economy is supported by financial markets that are developed well (up by seven places to 24th position), an efficient labor market (25th
the enabling environment for businesses. Following the adoption of the country†s new constitution in 2010, which
long-term economic growth, particularly in view of its transition toward middle-income status: secondary and tertiary enrollment rates are low;
economy; weakening fiscal finances are affecting the macroeconomic environment (126th; and health remains an area of serious concern (117th.
Finally, the security situation in Kenya also remains worrisome (128th Ghana reverses last year†s downward trend and
and inflation is over 11 percent. With regard to strengths, public institutions are characterized by relatively high government efficiency
macroeconomic environment remains challenging and is characterized by a high government deficit of 5. 4 percent
foreign competition. In the near-term future, it will be important not to lose sight of these challenges for 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), which is characterized by high government debt, a negative savings rate, and low
inflation. Weaknesses in other areas include health (129th in the health subpillar; low education enrollment rates
economic growth. Ahead of the 2015 election cycle it will, 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
stability is weak (110th) on the back of increased inflation and a high government deficit. Looking ahead, significant
investments across all modes of infrastructure (128th establishing a regulatory framework that encourages competition to foster economic diversification, and
developing a sound financial market (126th. Also critical in view of the country†s rapidly growing population and
environment and market size, but much remains to be done across the board to build up the country†s
Angola has a unique opportunity to invest revenues in competiveness-enhancing measures. In this context its poor performance across all governance indicators
assesses the competitiveness of 144 economies across all geographies and stages of development. The GCI
driver of economic growth In the current economic context of uneven recovery across advanced economies and renewed risks for
emerging economies, the current edition of the Report has highlighted the need for more structural reforms
and enhanced smart investments in both advanced and emerging economies in order to accelerate robust economic growth, create productive jobs, and boost
inclusive growth with more and better opportunities for all segments of the population. At present, the pace
of change remains uneven, and more determination and shared commitment among all stakeholders is urgently needed in order to build strategic public-private
collaborations. Building this type of collaboration, as the ongoing World Economic Forum†s project on the
Competitiveness Lab and the Competitiveness Practices Raising productivity and competitiveness is crucial to sustaining economic growth and enhancing prosperity in a
country. The process requires long-lasting commitment from relevant stakeholders to mobilize resources and provide the
effort that can lead to the necessary reforms and productive investments across a vast array of areas
However, stakeholders†actions†most notably those originating from the public and private sectors†are not
always well coordinated and aligned, so that synergies are often not fully realized and the results of the combined
sufficiently engage in long-term and often risky investments in areas such as research and development, information and communication technologies, or employees†skills
development strategies. If businesses could be engaged in this way, the positive spill over effects of their investments
could result in higher societal gains Fortunately, stakeholders are increasingly acknowledging the need to address this disconnect between public-and
private-sector actions. The last few years have seen a growing recognition of the vital importance of supporting
its management expertise and resources, and the public sector can contribute its understanding of public needs and
effective collaborations, stakeholders must be able to count on clear targets and evaluation frameworks, the parties must
environments must be in place However, and perhaps even more importantly, strong leadership in both the public and private sectors is essential
Clear vision and effective communication is needed to overcome the main obstacle: lack of trust between the
to benchmark national competitiveness. The clear and intuitive structure of the GCI framework is useful for
competitiveness environment and pinpoint those factors most constraining its economic development. More specifically, the GCI provides a platform for dialogue
potential robust determinants of economic growth 4 See Easterly and Levine 1997; Acemoglu et al. 2001,2002; Rodrik
21 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
average of that of economies at the technology frontier. Countries at the technology frontier are the 10 countries with the highest per
/economy profiles. The groupings in the profiles are based on IMF data, and use the IMF classifications
28 The Central Bank†s bailout of African Bank Investments on August 11,2014, is reflected not in the EOS data this year,
orchestrate an informed multi-stakeholder process for better understanding and shaping the competitiveness agenda of a
Journal of Economics 117 (4: 1231†94 Afdb, OECD, and UNDP. 2014. African Economic Outlook 2014:
of Economic growth, 1st edition, volume 1. Amsterdam: Elsevier 1499†542 Almeida, R, . and P. Carneiro, 2009. â€oeenforcement of Labor Regulation
and Firm Size. †Journal of Comparative Economics 37 (1: 28†46 Amin, M. 2009. â€oelabor Regulation and Employment in India†s Retail
Stores. †Journal of Comparative Economics 37 (1: 47†61 Aschauer, D. A. 1989. â€oeis Public Expenditure Productive?
Monetary Economics 23 (2: 117†200 Barro, R. J. and X. Sala-i-Martã n. 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 Chicago: University of Chicago Press Canning, D.,M. Fay,
The Informal Economy. †India Market Strategy. July 9. Available at https://www. credit-suisse com/newsletter/doc/apac/aic2013/20130712 indiamkt. pdf
The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. New york:
Ethnic Divisions. †Quarterly Journal of Economics CXII: 1203†50 Feyrer, J. 2009. â€oetrade and Income:
Journal of Monetary Economics 32 (3: 485†512 Frenkel, J. and D. Romer. 1999. â€oedoes Trade Cause Growth?
Gramlich, E. M. 1994. â€oeinfrastructure Investment: A Review Essay. †Journal of Economic Literature 32 (3:
World Economy. Cambridge, MA: MIT Press. Chapters 3 and 4 IMF (International monetary fund. 2014a. World Economic Outlook
Journal of Comparative Economics 37 (1: 91†105 Kaufmann, D. and T. Vishwanath. 2001. â€oetoward Transparency:
Quarterly Journal of Economics 108 (3: 551†75 Lucas, R. E. 1988. â€oeon the Mechanics of Economic Development. â€
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. â€oeeconomic Reform and the Process of Economic Integration. †Brookings Papers on Economic activity
1995 (1: 1†118 Sala-i-Martã n, X. and E. V. Artadi. 2004. â€oethe Global Competitiveness
Schultz, T. W. 1961. â€oeinvestment in Human Capital. †American Economic Review 1 (2: 1†17
Solow, R. 1956. â€oea 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:
Swan, T. W. 1956. â€oeeconomic Growth and Capital Accumulation. †Economic Record 32 (2: 334†61
New Palgrave Dictionary of Economics and the Law. New york Macmillan  2014 World Economic Forum
as an estimate of the level of productivity of an economy For almost 10 years, the Global Competitiveness Index
assess the level of productivity of an economy, which determines its long-term growth potential. This appendix
level of productivity of an economy is a difficult task. The seminal work of Solow (1957) provided a methodology
for by the accumulation of physical capital and human capital. This methodology, however, cannot be used to
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
for that lies in what economists call the â€oeconditional convergence effect, †which posits that, all other things
economies to grow faster†a phenomenon known as conditional convergence. 1 In other words, if all countries had the same investment and population growth rates
and the same levels of productivity, then we should observe poor countries growing faster than rich ones
higher rates of long-term economic growth. In reality however, countries differ both in their levels of income
by the level of productivity across different economies If these net-of-convergence growth rates are positively
competitiveness of an economy In conclusion, the results of both Figures 1 and 2 indicate that the GCI is a good estimate of the level
long-run growth rate of an economy and its level of prosperity†is validated on a statistical level
N=132 economies  2014 World Economic Forum 1. 1: The Global Competitiveness Index 2014†2015
1 The reason that poor economies do not grow systematically faster is that â€oeother things are not equal. †Among those other things that
Economic growth, 2nd edition Cambridge: MIT Press Hall, R. and C. Jones. 1999. â€oewhy Do Some Countries Produce So
Journal of Economics 114 (1: 83†116 IMF (International monetary fund. 2014. World Economic Outlook Database, April.
Function. †Review of Economics and Statistics 39 (3: 312†20 World bank. 2014. World Development Indicators 2014 database
1. 16 Reliability of police services B. Private institutions...25 %1. Corporate ethics...50 %1. 17 Ethical behavior of firms
Macroeconomic environment...25 %3. 01 Government budget balance *3. 02 Gross national savings *3. 03 Inflation*f
3. 04 Government debt *3. 05 Country credit rating *4th pillar: Health and primary education...25 %A. Health...
5. 04 Quality of math and science education 5. 05 Quality of management schools 5. 06 Internet access in schools
services 5. 08 Extent of staff training 6th pillar: Goods market efficiency...17 %A. Competition...
67 %1. Domestic competition...variable h 6. 01 Intensity of local competition 6. 02 Extent of market dominance
6. 03 Effectiveness of antimonopoly policy 6. 04 Effect of taxation on incentives to invest
6. 05 Total tax rate *6. 06 Number of procedures required to start a business*i
2. Foreign competition...variable h 6. 09 Prevalence of trade barriers 6. 10 Trade tariffs *6. 11 Prevalence of foreign ownership
B. Quality of demand conditions...33 %6. 15 Degree of customer orientation 6. 16 Buyer sophistication
8. 05 Venture capital availability B. Trustworthiness and confidence...50 %8. 06 Soundness of banks 8. 07 Regulation of securities exchanges
%*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.
lowest and highest country scores in the sample of economies covered by the GCI. In some instances, adjustments were made
e â€oen/Appl. †is used for economies where there is no regular train service or where the network covers only a negligible portion
f 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,
h The competition subpillar is weighted the average of two components: domestic competition and foreign competition.
In both components, the included indicators provide an indication of the extent to which competition is distorted.
The relative importance of these distortions depends on the relative size of domestic versus foreign competition.
This interaction between the domestic market and the foreign market is captured by the way we determine the weights of the two components
Domestic competition is the sum of consumption (C), investment I), government spending (G), and exports (X), while foreign
competition is equal to imports (M) . Thus we assign a weight of C i+G+X)/(C i+G+X+M) to domestic competition and a
weight of M c i+G+X+M) to foreign competition i Indicators 6. 06 and 6. 07 combine to form one single indicator
j For indicators 6. 14, imports as a percentage of GDP, we first apply a log-transformation and then a min-max transformation
estimates) of imports of goods and services, minus the total value (PPP estimates) of exports of goods and services.
Data are normalized then on a 1-to-7 scale. PPP estimates of imports and exports are obtained by taking the product of exports as a
the total value (PPP estimates) of exports of goods and services normalized on a 1-to-7 scale.
development of Western economies since the mid-20th century. During this period, high standards of living were
economies, with the expectation that these standards would remain high and expand globally over time
movement concerned with protecting the environment and in particular with the effects of environmental damage on the health and well-being of both humans
and the environment Over the past decades, these ideas have become prominent in the global discourse and have helped to
the environment have become evident, and as concerns voiced over the distribution of the benefits of economic
growing developing and emerging economies suggest that these dimensions are intertwined strongly and therefore should be addressed as part of the economic
economic growth process Despite increased awareness about the urgency of social and environmental issues, progress toward a
an increasing scarcity of water, energy, and mineral resources, for which demand continues to climb.
These developments signal that†despite growing awareness about the risks related to unsustainable resource and environmental management†the world is not moving
experienced by Western economies in the earlier stages of industrialization. According to Thomas Piketty†s recent
emerging economies aim to achieve were realized only in the first decades following WORLD WAR II. 6 The recent interest in social inclusion and
absence of economic growth, any effort toward a more equal distribution of income would do little good
about sustainability because competitive economies tend to be more innovative, more resilient, and better able to respond to external shocks
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 Clã ment Gignac, Chief Economist and Senior Vice
-President, Industrial Alliance Insurance and Financial Services, Canada Jeni Klugman, Director for Gender, The World bank, USA
Marc A. Levy, Deputy Director, Center for International Earth science Information Network, Columbia University USA John W. Mcarthur, Senior Fellow, UN Foundation &
Economy, Indonesia Lindene Patton, Chief Climate Product Officer, Zurich Financial services, Switzerland Anthony O†Sullivan, Head Private Sector Development
Environment Programme, Switzerland  2014 World Economic Forum The Global Competitiveness Report 2014†2015 55
collaboration with a multi-stakeholder Advisory board of international experts (Boxâ 1) †has embarked on an
economic growth in order to include both the tangible and intangible necessities of life The concept of sustainable competitiveness
and resource scarcity could affect them (see Boxâ 2). First, these challenges could affect a firm†s bottom line at some point in time, for example
must face higher prices for commodities used as inputs of production. And third, as consumers become more
Principles for Responsible Investment. 11 Companies are also taking action on issues that may impact the
initiatives relating to water scarcity because this scarcity may have†in some cases is already having†an impact
and cost of commodities. Another example is the information technology (IT) sector, where â€oesustainability is fast becoming an important corporate-performance
of Economics points out, climate legislation in 66 countries now covers nearly 88 percent of current greenhouse gas
voluntarily on climate and realize opportunities associated with climate-smart business. For example, the Consumer Goods Forum (CGF) is focused a group on sustainability
and other stakeholders across 70 countries, with combined sales of nearly US$2. 5 trillion. 11 More specifically, the CGF has
Banking and Environment Initiative (BEI) comprises 10 of the world†s largest banks, including Barclays, China Construction
industry in collectively directing capital toward environmentally and socially sustainable economic development These groups are
CGF by providing models to finance sustainable commodity supply chains. Initiatives that encourage collaboration and
communication cross stakeholders are just a first step toward finding a pragmatic solution to complex environmental
Government†s Department of the Environment at http://www. envi -ronment. gov. au/climate-change/repealing-carbon-tax
7 The Economist 2014 8 World Economic Forum 2014 9 World bank and the Development Research center of the State
data centers†that significantly reduce energy demand The relationship between environmental sustainability and competitiveness is multifaceted and
affects an economy in different ways. Multiple channels support a positive relationship between environmentally sustainable practices and productivity gains;
rise of temperature, water scarcity, and extreme weather. Although solutions for global emission reductions require international coordination
context of rising energy demand, improving energy efficiency through management changes, investing in technology improvement,
savings relatively quickly. 14 In addition, investments in capital expenditures for emission reduction can generate business opportunities for new sectors
Climate change is perceived already as one of the environmental challenges with the most far-reaching and most severe negative impact
more costly to the economy as a whole than the use of carbon pricing, 15 while others see carbon
economy in the short Run for example, according to a study by the Congressional Budget Office of
and services both within and between countries According to an estimate of the 2007†2008 UN Human Development Report, to reach the
environment improves the productivity of the workforce by reducing health damage caused by pollution or environmental degradation.
an investment in human capital. Recent empirical evidence has indicated that, in the United states ozone levels below federal air quality standards
Finally, environment-driven health problems lead to resource misallocation, forcing governments to fund additional, and otherwise unnecessary
investments in for example, education or innovation •Biodiversity for innovation. Ultimately environmental degradation can impact the
a key driver of economic growth, especially in developing countries, because it provides the basis for many innovations in areas such as
profitable business opportunities, incentivizing the development of new technologies and products for their utilization in still-unexplored markets
Interest among economists and social scientists in the relationship between income distribution and economic performance has been growing over the last
clusters in developing and developed economies alike are certainly tangible and explain the broad interest
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 have access
thus reducing the overall level of human capital Finally, the participation and empowerment of women is key to ensuring a large talent pool and
guarantees the same opportunities for all its members, rewarding them according to their talents and fairly redistributing the benefits of
with access to other opportunities Although some earlier literature found a positive relationship between growth and inequality, more
basic services remains a challenge. Even in several fast -growing developing countries, it appears that growth has
solutions that foster economic growth in a more inclusive manner The question of how to unlock new sources of
economic growth to improvements in broad living standards is becoming an increasingly important concern for political
high and sustained economic growth are well known and form the basis of the World Economic Forum†s 12-pillar model
provide equality of opportunity so that all segments of society can participate in its growth by expanding and
and capital in order to raise living standards. Increasing affordability and access to high -quality education and training,
is about both the pace and pattern of economic growth. 6 The World Economic Forum†s Global Project on Inclusive
an enabling environment for human capital formation reinforcing the wage and productivity growth link, fostering
entrepreneurship and investment, reinforcing business and political ethics, promoting gender parity, reviewing fiscal policy (tax code and social protection), and providing
improved public services and infrastructure. Once completed this framework will be used as a point of departure for a
benefits of economic growth without dampening incentives to work, save, and invest Notes 1 While extreme poverty (at a $1. 25 per day threshold) has declined
capital investments; 27 third, it may require more redistributive efforts, thus potentially introducing more market distortions;
In advanced economies, welfare states promote the economic and social well-being of the society by protecting their members from excessive
represent a source of stability for an economy, they can turn into a hurdle for its competitiveness since
extent of the black economy. When workers have access only to short-term contracts or vulnerable
Moreover, a widespread black economy may affect the resilience of a social system, since informal workers are more vulnerable to concerns related to
The quality of the environment and the structure of a society are correlated clearly. On the one hand, well
provide better opportunities for the whole community and improve the resilience of the society. Moreover, the
as resource scarcity may leave the poorest of the population unable to access basic necessities.
a functioning economy that, by definition, uses natural resources. For this reason, although the academic
environment negatively affects the health, and thus the productivity, of the workforce. It also reduces
are children†s. An unhealthy environment dampens economic opportunities, prevents people from participating in the life of the community, diverts
resources from productive uses, and contributes to urban decline •Demography, poverty, and the environment
The relationship between demography and environmental/social sustainability is extremely intricate. Rapidly growing populations can be
poverty may also affect the environment and may lead to massive unplanned urbanization, such as slums, where large segments of the population
are without access to basic services. Such settlements can have significant repercussions for the environment, including deforestation and the
pollution of water resources, which results from the lack of waste management  2014 World Economic Forum
the elasticity of energy demand (fuel and electricity is relatively rigid in the short run.
services unless the loss of purchasing power is offset by fiscal policies An additional link between energy, environment
and social sustainability is the use of particular alternative energy sources such as ethanol and biodiesel. Although these types of energy sources
help to reduce CO2 emissions, they also use wide land areas and contribute to increased food
competition over these resources could eventually result in military conflict. Adverse changes in temperature and precipitation have started to
their position in society and reduces opportunities to better their lives and that of their families
these critical areas and benchmark themselves against peers persists. Without an improvement in the quality
the amount of investment necessary to achieve the MDGS by 2015) was approximately US$120 billion a year, 2 while a
opportunities for all 4th pillar (primary education subpillar) and 5th pillar (higher education and training Goal 8:
economic growth, full and productive employment and decent work for all 7th pillar (labor market efficiency Goal 9:
of an economy, as discussed in Chapter 1. 1, which is defined as the set of institutions, policies, and factors
that determine the level of productivity of an economy The GCI is a comprehensive index that takes into
macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market
services. This category is thus a measure of inclusion as well as a measure of the fulfillment of basic physical
employment, the Extent of the informal economy, and Social safety net protection. The vulnerable employment
The extent of the informal economy provides a sense of how well integrated the workforce is into official
investments and entrepreneurial risk, which can in turn translate into the creation of new jobs and innovative
ideas, thus benefitting the economy A third category can be thought of as an assessment of social cohesion and includes the following
families from accessing the same opportunities as those with incomes at the high end of the range in the society
to human capital development because talented individuals, in a society that does not allow them
leave their home country to pursue opportunities abroad Additionally, low expectations for the future in a context
•Extent of informal economy •Social safety net protection •Income Gini index •Social mobility
protecting natural capital. We also include a measure of the number of key International environmental treaties
Baseline water stress in an economy, which models the relation between water supply availability and demand
in each country; Wastewater treatment, which gauges what percentage of (mainly urban) wastewater is treated before it is released into the ecosystem;
degradation of the environment, which can cause serious damage to human health while destroying the
natural environment. Particulate matter concentration is a proxy for air pollution, which has proven negative effects
The quality of the natural environment is based a perception assessment of the local status of the environment that measures the observation of
local business leaders on the ground. CO2 intensity is a measure of the efficiency of energy use in relation to the
Environmental policy Use of renewable resources Degradation of the environment •Environmental regulations stringency and enforcement
•Quality of the natural environment Figure 3: Summary of indicators for environmental sustainability  2014 World Economic Forum
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
economies tend to have more mature institutions that ensure that citizens have access to basic infrastructure
economies in terms of emissions such as CO2, as well as in manufacturing-related pollution such as waste and by-products of industrial processes. 41 However, these
economies are currently facing problems that advanced economies have experienced already in their own earlier stages of development, such as biodiversity loss caused
by deforestation, urbanization, and the expansion of agricultural land as well as air pollution (proxied here by particulate matter,
RESULTS FOR SELECTED ECONOMIES Because many of the aspects relating to sustainability require many years for significant change to occur, we
economies from one year to the next. Nonetheless constant monitoring and benchmarking of selected indicators helps to identify possible areas of risk and the
/Economy Rank*Value Value Direction Value Direction Value Direction Switzerland 1 5. 7 6. 75 â‘6. 84 â‘6. 8 â
/Economy Rank*Value Value Direction Value Direction Value Direction India 71 4. 21 3. 98 â 3. 72 â 3. 85 â
as presented in Chapter 1. 1. Only the 113 economies covered by this exercise are included in the table
economies Switzerland confirms its strong sustainability performance. Its 1st place in the GCI rankings is
environmental capital rather well, stakeholders should not be complacent and should continue to monitor and
less than that of other advanced economies because of its still-high levels of income inequality and youth
economies. On the social sustainability pillar, it is characterized by relatively low youth unemployment widespread access to healthcare,
low youth unemployment, its small informal economy and its resilient social safety net. The country attains
the environment side, similar to other economies in the region, Norway is making efforts to reduce its footprint
on its natural capital but should manage fish stocks and forests in a more sustainable way because both are
other economies  2014 World Economic Forum The Global Competitiveness Report 2014†2015 71 1. 2:
as it pertains to the environment. In terms of social sustainability, China is slowly expanding access to
putting the invaluable natural capital of the country at risk As it faces difficulties related to sustainability
economies. On a positive note, it seems that the country has made progress in forest stewardship
needed to make sure that Brazil†s rich natural capital is managed responsibly and will remain an asset for future
economy, and the limited coverage of its social safety net Colombia†s competitiveness is reduced again this
to healthcare services is limited and Colombia does not yet have integrated an social safety net, which exposes a large fraction of the population in vulnerable
impact on the environment, including air and water pollution, where only a negligible fraction of the water
have access to these basic services) and high rates of vulnerable employment. To a lesser extent, its large
informal economy and its lack of a universal social safety net show that India remains largely a poor country that is
the natural environment. Although on some issues the authorities are working to improve the situation, little
to improved drinking water, healthcare services, and sanitation facilities. Youth unemployment has increased and inequality remains relatively high.
has adopted measures to protect the environment with a relatively strict regulatory framework, a strong commitment to international treaties, the creation of
environment policy. Yet protection of forests and habitats remains an issue, with logging related to timber production and agriculture reducing the stock of
work in vulnerable jobs or in the informal economy and do not have access to social security.
the population do not have access to healthcare services and are protected not by a social safety net.
than other African economies, however. Its income Gini index is 40. 3†better than that of Ghana or Kenya.
commitments to most of the international environment treaties are important steps that the country has recently
taken toward protecting the environment. By expanding the protection of its resources, Senegal could achieve a
Access to basic services remains very low for millions of Nigerians: only 28 percent of the
and healthcare services are available only to a minority of people. These issues, typical of a developing economy
may jeopardize the future competitiveness of the country as they limit the country†s human capital.
in 113 economies and fosters the understanding of conceptual links between productivity on the one hand and social and environmental sustainability on the other
more palpable, economies that have been investing and planning for the long run, balancing economic progress with social inclusion and good and effective
growth in advanced economies and the more recent slowdown in emerging markets create a climate of lack
of opportunities, which is reflected in growing concerns about the social dimension. This makes the inclusiveness
-stakeholder platform to advance the understanding and analysis of this important concept. The Forum will
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 NOTES
1 Beitz 2009 2 Brian Baxter wrote an introduction to ecologism in a book by that
5 Capital in the Twenty-first Century. The central idea of the analysis by Piketty is that only when the growth rate is higher than the
return to capital will the benefits of growth lead to widespread prosperity. When the relationship flips, inequality would surge.
economies has revived concerns about â€oesecular stagnation, †with Lawrence Summers envisaging that even before the financial crisis
a trend of low aggregate demand had begun in the United states 7 For examples, see Acemoclu and Robinson 2006 and Avent 2014
8 This definition is from the World Commission on Environment and Development†s (the Brundtland Commission†s) report
11 For information about the Principles for Responsible Investment see http://www. unpri. org /12 Bughin et al. 2010
17 The Economist 2014 18 See, for example, UNEP 1997 for an analysis of the link between
although measured at country level in advanced economies, are not measured worldwide. Additionally, because poverty thresholds
Environment and Directed Technical Change. †American Economic Review 102 (1: 131†66 Acemoglu, D.,S. Naidu, P. Restrepo,
Growth. †Quarterly Journal of Economics 109 (2: 465†90 Ali, I and J. Zhuang. 2007. â€oeinclusive Growth toward a Prosperous Asia
†Journal of Economic growth 8 (2003: 267†99 Barbier, E. 1997. â€oeenvironmental Kuznets Curve Special Issue
Introduction. †Environment and Development Economics 2 369†81 Bäthge, S. 2010. â€oeclimate Change and Gender:
Labor Share. †B. E. Journal of Macroeconomics 3 (1: 1†33 Berg, A. and J. Ostry. 2011. â€oeinequality and Unsustainable Growth
Aggregate Demand. †Discussion paper, mimeo. Available at http //www. boeckler. de/pdf/v 2013 10 24 carvalho rezai. pdf
Effects of a Carbon Tax on the Economy and the Environment. May, Pub. No. 4532.
Available at http://www. cbo gov/sites/default/files/cbofiles/attachments/44223 carbon 0. pdf CDP and WWF-US (Carbon Disclosure Project and the World Wildlife
Driving Profits through Carbon Reduction. Available at http://www. worldwildlife. org/projects/the -3-solution
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. â€oethe 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
U s. Labor Share. †Brookings Papers on Economic activity, Fall Available at http://www. brookings. edu//media/Projects/BPEA
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.
Mathematical Economics 24 (1995: 159†77 Mankiw, G. 2013. â€oedefending the One Percent. †Journal of Economic
Institute for Environment and Development Nachmany, M.,Fankhauser, S.,Townshend, T.,Collins, M. Landesman T.,Matthews, A.,Pavese, C.,Rietig, K.,Schleifer, P. and Setzer, J
of Economics. Available at http://www. lse. ac. uk/Granthaminstitute /wp-content/uploads/2014/03/Globe2014. pdf
Labor Share. †The Quarterly Journal of Economics 129 (1: 61†103 Nordhaus, W. 1992. â€oelethal Model 2:
Brookings Papers on Economic activity Volume 2: 1†59 ††â€. 1994. â€oelocational Competition and the Environment:
Should Countries Harmonize Their Environmental Policies? â€oe Cowles Foundation Discussion Paper No. 1079, Cowles Foundation for
Research in Economics, Yale university ††â€. 2000. â€oealternative Methods for Measuring Productivity Growth. â€
Foundation for Research in Economics, Yale university ††â€. 2002. â€oethe Health of Nations: The Contribution of Improved
††â€. 2012. â€oehealth and the Environment. †In OECD Environmental Outlook to 2050:
†Journal of Environmental Economics and Management 67 (2: 104†25 Persson, T. and G. Tabellini 1994. â€oeis Inequality Harmful for Growth
Cheaper. †Agricultural and Resource Economics Update 12 (1 Giannini Foundation of Agricultural Economics, University of
California. Available at http://www. ncsu. edu/cenrep/research /documents/food v fuel. pdf Singh, A. and R. Dhumale. 2000. â€oeglobalization, Technology, and
Stern Review on the Economics of Climate Change London: HM Treasury Stiglitz, J. 2012. The Price of Inequality:
World Investment Report 2014: Investing in the SDGS: An Action Plan. Geneva: United nations Publication UNDP (United nations Development Programme.
UNEP (United nations Environment Programme. 2010a. â€oehow Close Are We to the Two Degree Limit? †Information Note.
Environment Forum, February 24†26, Bali, Indonesia. Available at http://www. unep. org/PDF/Pressreleases/temperature-briefing-21
Environment Programme as part of its Green Economy Initiative, April. Available at http://www. unep. org/PDF
Towards a Green Economy: Pathways to Sustainable Development and Poverty Education. Nairobi: United Nation Environment Programme
UNEP (United nations Environment Programme), World Meteorological Organization. 1997. Common Questions about Climate Change Available at http://www. gcrio. org/ipcc/qa/index. htm
UN-HABITAT (United nations Human Settlements Programme. 2010 Bridging the Urban Divide: Sao Paolo: A Tale of Two Cities.
the Opportunity of Green Development in China. WASHINGTON DC World bank. Available at http://www. worldbank. org/content/dam
experience either an opportunity if they manage their resources well or a weakness if they do not
S07 Extent of informal economy S08 Social mobility S09 Vulnerable employment *Environmental sustainability pillar S10 Stringency of environmental regulations e
S20 Quality of the natural environment NOTES a Formally we have 0. 4 x country score †sample minimum
lowest and highest country scores in the sample of economies covered by the sustainability-adjusted GCI in each pillar
lowest and highest country scores in the sample of economies covered by the sustainability-adjusted GCI.
income among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots
S05 Access to healthcare services How accessible is healthcare in your country? 1=limited†only the privileged have access;
S07 Extent of informal economy In your country, how much economic activity would you estimate to be undeclared or unregistered?
1=most economic activity is undeclared or unregistered; 7=most economic activity is declared or registered 2013†2014 weighted average
opportunity to improve their economic situation through their personal efforts regardless of the socioeconomic status of their
1=little opportunity exists to improve one†s economic situation; 7=significant opportunity exists to improve one†s
economic situation 2013†2014 weighted average Source: World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report
WDPA) developed by the United nations Environment Programme UNEP) World Conservation Monitoring Centre (WCMC) in 2011
S20 Quality of the natural environment In your country, how would you assess the quality of the
natural environment? 1=extremely poor, among the worst in the world; 7=among the world†s most pristine 2013†2014
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
however, no new economy is added  2014 World Economic Forum 1. 3: The Executive Opinion Survey
economies surveyed Minimum 32: Swaziland, Israel Maximum 369: United states 362: China 3 largest samples 340:
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: International monetary fund, World Economic Outlook database, April 2014 edition Note: Not all charts are drawn to scale
Overall Perceptions of Your Economy III. Infrastructure IV. Innovation and Technology Infrastructure V. Financial Environment
VI. Foreign Trade and Investment VII. Domestic Competition VIII. Company Operations and Strategy IX. Government and Public Institutions
X. Education and Human Capital XI. Corruption, Ethics and Social Responsibility XII. Travel & Tourism
XIII. Environment XIV. Health Most questions in the Survey ask respondents to evaluate, on a scale of 1 to 7, one particular aspect of
their operating environment. At one end of the scale, 1 represents the worst possible situation;
at the other end of the scale, 7 represents the best (see Boxâ 2 for an
example The administration of the Survey could not be carried out without the network of over 160 Partner
the competitiveness conditions of their economies. The full list of Partner Institutes can be found at the beginning
enterprises and large companies†from the various Figure 2: Country/economy coverage of the Executive Opinion Survey
n Previous coverage n 2014 additions  2014 World Economic Forum First component*Second component:
*Country/Economy Survey edition No. of respondents Weight(%)No. of respondents Online(%)Weight %*Albania 2013 81 45.3 79 †54.7
*Country/Economy Survey edition No. of respondents Weight(%)No. of respondents Online(%)Weight %*Lithuania 2013 141 44.6 146 60.3 55.4
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; ‡
the public sector, and other stakeholders Striving for excellence The Global Competitiveness and Benchmarking Network has, over the years, always given great importance to
and measurement of economic growth as well as to applying surveying best practices. To this end, it has
the main sectors of the economy (agriculture manufacturing industry, non-manufacturing industry, and services 2. Separate the frame into two lists:
one that includes only large firms, and a second list that includes all other firms (both lists representing the
ability of one enterprise to do as well as, or outperform another company or group of companies while taking into
economics or business administration; and the economic media. Median values were calculated for each question and
economic policies and institutional reforms. In the minds of its authors, â€oean undertaking of this dimension can never be
140 economies to assess the key drivers of development. The methodology underpinning the analysis has been improved
of economic growth. Since 2005, the Global Competitiveness Index has provided the methodology used to conduct the
economic policies and institutional reforms In parallel to this development of the index, the original survey has evolved
an economy not included in the Survey cannot be covered by an index Note 1 European Management Forum 1979
heightened comparability across economies DATA TREATMENT AND SCORE COMPUTATION This section details the process whereby individual
produce the scores of each economy on each individual question of the Survey. These results, together with other
Because small-and medium-sized enterprises SMES) account for a large share of economic activities in most countries, the Survey aims to collect the opinion
of executives from those smaller companies (Figure 1a 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, also reflecting the respective economic structure of these regions.
foreigners (as either minority or majority shareholders Further, the Survey sampling also aims to ensure
percent in Advanced Economies Finally, in alignment with the Forum†s sampling guidelines approximately a third of the 2014 Survey respondents are
Advanced economies 0 20 40 60 80 100 0 20 40 60 80 100 Sub-saharan africa
Advanced economies 0 20 40 60 80 100 0 20 40 60 80 100 Sub-saharan africa
Advanced economies 0 20 40 60 80 100 0 20 40 60 80 100 Sub-saharan africa
Advanced economies 0 20 40 60 80 100 Figure 1: Executive Opinion Survey: Respondent profile
and services) in a given country. Country averages were derived then by taking a weighted average of the sector averages using the
economy, despite the efforts of our Partner Institutes especially in challenging environments where the administration of the Survey is difficult.
Third, in some major petroleum-and gas-producing countries, a handful of very large companies account for a sizeable
that attempting to mirror the structure of the economy would result in assigning a very high individual weight
economy, the agriculture sector tends to be under -represented in the Survey sample because of the
of the economy, this mechanism was not sufficient to prevent an individual response from receiving a
146 economies. 8 Any value d lying outside the range bounded by the 25th percentile minus 1. 5 times IQR and
This box presents the method applied to compute the country scores for the vast majority of economies included in The Global
Country/economy score calculation Cont†d  2014 World Economic Forum The Global Competitiveness Report 2014†2015 95
Country/economy score calculation (cont†d  2014 World Economic Forum 1. 3: The Executive Opinion Survey
overall size of the economy. Adjustments were made to the value based on searches in company directories and data gathered
80 for most economies and 300 for the BRICS countries and the United states), a Partner Institute uses the response rate from
4 The results are obtained the scores by each economy in the various questions of the Survey.
country, the ratio of the weight of one sector in the economy to the percentage of surveys from that sector in the country sample
8 The Survey was conducted in 148 economies in 2014. However, in Brunei Darussalam and Liberia there were not enough responses
Country/Economy Profiles  2014 World Economic Forum  2014 World Economic Forum The Global Competitiveness Report 2014†2015 101
Country/Economy Profiles Global Competitiveness Index This section details the economy†s performance on the main components of the Global Competitiveness
among the 144 economies included in the Index, while the second column presents its score.
group to which the economy belongs, using the same classification as in the GDP per capita chart (gray line
in their economy. The information is drawn from the 2014 edition of the World Economic Forum†s Executive
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.
Unless noted otherwise all data in the Key indicators†section are sourced from the April 2014 edition of the International monetary fund
period for which data are available) for the economy under review (blue line. The gray line plots the
group of economies to which the economy under review belongs. We draw on the IMF€ s classification
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
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...122.3.8 Health and primary education...62.5.8 Efficiency enhancers (50.0%).95.3.7 Higher education and training...60.4.5
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
position among the 144 economies covered by the GCI 2014†2015. The ranks of those indicators
For those economies ranked in the top 10 in the overall GCI, individual indicators ranked from 1
and training services makes this indicator a competitive advantage For those economies ranked from 11 through
50 in the overall GCI, variables ranked higher than the economy†s own rank are considered to
For those economies ranked lower than 50th in the overall GCI, any individual indicators with
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 105
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...128 8. 06 Soundness of banks...4. 3...98
1. 16 Reliability of police services...3. 7...96 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 2...123 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*70.5.113
5. 04 Quality of math and science education...4. 3...64 5. 05 Quality of management schools...
and training services...3. 8...91 5. 08 Extent of staff training...4. 4...32
6. 01 Intensity of local competition...3. 5...142 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*31.7.45 Albania indicator 2. 08 Mobile phone subscription, where the country ranks 39th, constitutes a competitive
Country/Economy Profiles Index of Country/Economy Profiles Country/Economy Page Albania 104 Algeria 106
Angola 108 Argentina 110 Armenia 112 Australia 114 Austria 116 Azerbaijan 118 Bahrain 120 Bangladesh 122
Barbados 124 Belgium 126 Bhutan 128 Bolivia 130 Botswana 132 Brazil 134 Bulgaria 136 Burkina faso 138
Country/Economy Page Guyana 200 Haiti 202 Honduras 204 Hong kong SAR 206 Hungary 208 Iceland 210
Country/Economy Page Norway 296 Oman 298 Pakistan 300 Panama 302 Paraguay 304 Peru 306
Country/Economy Profiles 104 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...122.3.8 Health and primary education...62.5.8 Efficiency enhancers (50.0%).95.3.7 Higher education and training...60.4.5
Inflation...0. 6 Foreign currency regulations...0. 3 Insufficient capacity to innovate...0. 3 Government instability/coups...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 105
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...128 8. 06 Soundness of banks...4. 3...98
1. 16 Reliability of police services...3. 7...96 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 2...123 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*70.5.113
5. 04 Quality of math and science education...4. 3...64 5. 05 Quality of management schools...
and training services...3. 8...91 5. 08 Extent of staff training...4. 4...32
6. 01 Intensity of local competition...3. 5...142 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*31.7.45 Albania  2014 World Economic Forum Percent of responses
Country/Economy Profiles 106 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...11.6.4 Health and primary education...81.5.6 Efficiency enhancers (35.7%).125.3.3 Higher education and training...98.3.7
Inflation...3. 2 Government instability/coups...2. 9 Insufficient capacity to innovate...2. 2 Crime and theft...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 107
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...108 8. 06 Soundness of banks...3. 4...133
1. 16 Reliability of police services...4. 1...74 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...20 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 3...66 3. 04 General government debt,%GDP*..*9. 2...5
5. 04 Quality of math and science education...3. 2...113 5. 05 Quality of management schools...
and training services...3. 1...126 5. 08 Extent of staff training...3. 4...118
6. 01 Intensity of local competition...3. 8...136 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*71.9.137 Algeria  2014 World Economic Forum Percent of responses
Country/Economy Profiles 108 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...71.4.7 Health and primary education...136.3.5 Efficiency enhancers (35.6%).140.2.8 Higher education and training...144.1.9
Inflation...1. 0 Government instability/coups...0. 9 Insufficient capacity to innovate...0. 9 Policy instability...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 109
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...98 8. 06 Soundness of banks...4. 1...115
1. 16 Reliability of police services...2. 8...129 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 5...42 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 8...130 3. 04 General government debt,%GDP*..*26.6.29
5. 04 Quality of math and science education...1. 9...143 5. 05 Quality of management schools...
and training services...2. 5...144 5. 08 Extent of staff training...2. 8...141
6. 01 Intensity of local competition...2. 6...144 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*52.1.120 Angola  2014 World Economic Forum Percent of responses
Country/Economy Profiles 110 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...102.4.2 Health and primary education...67.5.8 Efficiency enhancers (50.0%).93.3.8 Higher education and training...45.4.8
Inflation...19.1 Foreign currency regulations...16.6 Access to financing...11.3 Corruption...10.9 Tax rates...8. 1
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 111
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 8...138 8. 06 Soundness of banks...4. 6...86
1. 16 Reliability of police services...2. 7...133 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 5...83 3. 02 Gross national savings,%GDP*..
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*..
5. 04 Quality of math and science education...3. 2...112 5. 05 Quality of management schools...
and training services...4. 2...65 5. 08 Extent of staff training...3. 7...95
6. 01 Intensity of local competition...4. 1...132 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*107.8.143 Argentina  2014 World Economic Forum Percent of responses
Country/Economy Profiles 112 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...77.4.6 Health and primary education...99.5.3 Efficiency enhancers (50.0%).87.3.8 Higher education and training...75.4.2
Inflation...3. 3 Restrictive labor regulations...2. 9 Policy instability...2. 7 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 113
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 4...96 8. 06 Soundness of banks...4. 9...66
1. 16 Reliability of police services...4. 0...81 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 5...64 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...104 3. 04 General government debt,%GDP*..*41.9.69
5. 04 Quality of math and science education...4. 2...69 5. 05 Quality of management schools...
and training services...3. 3...120 5. 08 Extent of staff training...3. 4...119
6. 01 Intensity of local competition...4. 9...85 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*38.8.73 Armenia  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 114 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...30.5.6 Health and primary education...17.6.5 Efficiency enhancers (50.0%).15.5.2 Higher education and training...11.5.7
Inflation...1. 1 Government instability/coups...0. 5 Corruption...0. 1 Crime and theft...0. 0
Australia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Australia Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 115
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...29 8. 06 Soundness of banks...6. 6...3
1. 16 Reliability of police services...6. 1...14 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 7...86 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 5...1 3. 04 General government debt,%GDP*..*28.8.31
5. 04 Quality of math and science education...4. 6...38 5. 05 Quality of management schools...
and training services...5. 2...23 5. 08 Extent of staff training...4. 5...30
6. 01 Intensity of local competition...6. 0...8 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*47.0.104 Australia  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 116 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...33.5.5 Health and primary education...19.6.4 Efficiency enhancers (50.0%).23.5.0 Higher education and training...15.5.6
Inflation...0. 9 Crime and theft...0. 5 Foreign currency regulations...0. 5 Government instability/coups...
Austria Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Austria Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 117
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...70 8. 06 Soundness of banks...5. 0...61
1. 16 Reliability of police services...5. 9...18 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 8...48 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*74.2.116
5. 04 Quality of math and science education...4. 6...37 5. 05 Quality of management schools...
and training services...5. 9...5 5. 08 Extent of staff training...4. 8...19
6. 01 Intensity of local competition...5. 8...15 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*52.4.121 Austria  2014 World Economic Forum Percent of responses
Country/Economy Profiles 118 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...9...6. 4 Health and primary education...104.5.2 Efficiency enhancers (37.8%).71.4.1 Higher education and training...
Inflation...2. 0 Poor public health...1. 8 Crime and theft...1. 2 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 119
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...64 8. 06 Soundness of banks...4. 3...100
1. 16 Reliability of police services...4. 1...71 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 8...15 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..*13.8.12
5. 04 Quality of math and science education...3. 3...108 5. 05 Quality of management schools...
and training services...4. 0...79 5. 08 Extent of staff training...3. 7...94
6. 01 Intensity of local competition...4. 3...121 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.0.77 Azerbaijan  2014 World Economic Forum Percent of responses
Country/Economy Profiles 120 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...47.5.2 Health and primary education...40.6.2 Efficiency enhancers (50.0%).40.4.5 Higher education and training...55.4.7
Inflation...0. 3 Tax regulations...0. 3 Foreign currency regulations...0. 2 Tax rates...0. 0
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 121
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 6...18 8. 06 Soundness of banks...5. 8...28
1. 16 Reliability of police services...5. 0...36 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 4...98 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 3...67 3. 04 General government debt,%GDP*..*43.9.74
5. 04 Quality of math and science education...4. 3...58 5. 05 Quality of management schools...
and training services...4. 5...42 5. 08 Extent of staff training...4. 5...29
6. 01 Intensity of local competition...5. 4...46 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*13.5.5 Bahrain  2014 World Economic Forum 2. 1: Country/Economy Profiles
122 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...72.4.7 Health and primary education...102.5.3 Efficiency enhancers (35.0%).103.3.6 Higher education and training...125.2.9
Inflation...2. 7 Foreign currency regulations...2. 5 Tax rates...2. 5 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 123
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 1...119 8. 06 Soundness of banks...4. 2...104
1. 16 Reliability of police services...2. 6...138 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 0...90 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 5...123 3. 04 General government debt,%GDP*..*39.7.62
5. 04 Quality of math and science education...3. 4...106 5. 05 Quality of management schools...
and training services...3. 1...129 5. 08 Extent of staff training...3. 2...131
6. 01 Intensity of local competition...4. 9...79 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.0.58 Bangladesh  2014 World Economic Forum Percent of responses
Country/Economy Profiles 124 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...132.3.4 Health and primary education...16.6.5 Efficiency enhancers (50.0%).54.4.3 Higher education and training...30.5.2
Inflation...6. 2 Foreign currency regulations...5. 8 Insufficient capacity to innovate...5. 7 Tax regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 125
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...101 8. 06 Soundness of banks...6. 1...14
1. 16 Reliability of police services...5. 6...25 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†10.3.140 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 3...1 3. 04 General government debt,%GDP*..*92.0.128
5. 04 Quality of math and science education...5. 5...7 5. 05 Quality of management schools...
and training services...4. 7...37 5. 08 Extent of staff training...4. 4...39
6. 01 Intensity of local competition...5. 6...28 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.8.83 Barbados  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 126 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...70.4.7 Health and primary education...2...6. 7 Efficiency enhancers (50.0%).18.5.1 Higher education and training...
Inflation...1. 5 Inadequately educated workforce...1. 4 Crime and theft...0. 4 Government instability/coups...
Belgium Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Belgium Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 127
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 3...33 8. 06 Soundness of banks...4. 6...85
1. 16 Reliability of police services...5. 7...23 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 8...69 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..*99.8.132
5. 04 Quality of math and science education...6. 0...3 5. 05 Quality of management schools...
and training services...6. 0...4 5. 08 Extent of staff training...5. 1...9
6. 01 Intensity of local competition...6. 0...6 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*57.5.126 Belgium  2014 World Economic Forum Percent of responses
Country/Economy Profiles 128 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...119.3.9 Health and primary education...89.5.5 Efficiency enhancers (45.0%).123.3.3 Higher education and training...108.3.5
Inflation...3. 9 Tax regulations...1. 5 Government instability/coups...0. 8 Crime and theft...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 129
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...104 8. 06 Soundness of banks...4. 4...95
1. 16 Reliability of police services...4. 9...39 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 0...92 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 7...129 3. 04 General government debt,%GDP*..*110.7.135
5. 04 Quality of math and science education...3. 9...84 5. 05 Quality of management schools...
and training services...3. 1...127 5. 08 Extent of staff training...3. 6...109
6. 01 Intensity of local competition...4. 6...106 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.8.83 Bhutan  2014 World Economic Forum Percent of responses
Country/Economy Profiles 130 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...35.5.5 Health and primary education...109.4.9 Efficiency enhancers (45.5%).116.3.4 Higher education and training...97.3.7
Inflation...0. 9 Crime and theft...0. 8 Poor public health...0. 1 Bolivia Bolivia Latin america and the Caribbean
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 131
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...30 8. 06 Soundness of banks...4. 0...120
1. 16 Reliability of police services...3. 5...109 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...19 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 7...101 3. 04 General government debt,%GDP*..*33.1.45
5. 04 Quality of math and science education...3. 1...116 5. 05 Quality of management schools...
and training services...3. 7...97 5. 08 Extent of staff training...3. 5...115
6. 01 Intensity of local competition...3. 8...139 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*83.4.140 Bolivia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 132 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...13.6.3 Health and primary education...127.4.1 Efficiency enhancers (42.4%).84.3.9 Higher education and training...101.3.6
Inflation...3. 0 Poor public health...2. 1 Policy instability...1. 7 Tax rates...1. 1 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 133
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...67 8. 06 Soundness of banks...5. 6...43
1. 16 Reliability of police services...4. 3...63 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 2...18 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...103 3. 04 General government debt,%GDP*..*15.9.14
5. 04 Quality of math and science education...3. 6...96 5. 05 Quality of management schools...
and training services...3. 4...114 5. 08 Extent of staff training...4. 0...68
6. 01 Intensity of local competition...4. 7...95 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*25.4.22 Botswana  2014 World Economic Forum Percent of responses
Country/Economy Profiles 134 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...85.4.5 Health and primary education...77.5.7 Efficiency enhancers (50.0%).42.4.5 Higher education and training...41.4.9
Inflation...1. 4 Insufficient capacity to innovate...1. 1 Crime and theft...0. 8 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 135
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...80 8. 06 Soundness of banks...6. 1...13
1. 16 Reliability of police services...3. 9...83 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 3...81 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 2...110 3. 04 General government debt,%GDP*..*66.3.109
5. 04 Quality of math and science education...2. 6...131 5. 05 Quality of management schools...
and training services...4. 5...47 5. 08 Extent of staff training...4. 3...44
6. 01 Intensity of local competition...5. 3...52 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*68.3.136 Brazil  2014 World Economic Forum Percent of responses
Country/Economy Profiles 136 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...36.5.4 Health and primary education...51.6.0 Efficiency enhancers (50.0%).52.4.3 Higher education and training...63.4.5
Inflation...3. 6 Insufficient capacity to innovate...2. 4 Crime and theft...1. 6 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 137
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...79 8. 06 Soundness of banks...5. 0...62
1. 16 Reliability of police services...3. 3...112 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 9...49 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 4...60 3. 04 General government debt,%GDP*..*17.6.15
5. 04 Quality of math and science education...4. 3...54 5. 05 Quality of management schools...
and training services...3. 4...111 5. 08 Extent of staff training...3. 3...127
6. 01 Intensity of local competition...5. 0...75 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.7.28 Bulgaria  2014 World Economic Forum 2. 1: Country/Economy Profiles
138 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...83.4.5 Health and primary education...141.3.2 Efficiency enhancers (35.0%).132.3.2 Higher education and training...136.2.4
Inflation...2. 2 Foreign currency regulations...1. 2 Restrictive labor regulations...1. 2 Crime and theft...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 139
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 5...144 8. 06 Soundness of banks...4. 1...116
1. 16 Reliability of police services...4. 0...77 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...76 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..*33.3.46
5. 04 Quality of math and science education...3. 8...88 5. 05 Quality of management schools...
and training services...3. 5...105 5. 08 Extent of staff training...2. 8...140
6. 01 Intensity of local competition...4. 6...110 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*43.9.95 Burkina faso  2014 World Economic Forum 2. 1: Country/Economy Profiles
140 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...112.4.0 Health and primary education...114.4.6 Efficiency enhancers (35.0%).144.2.6 Higher education and training...142.2.1
Inflation...10.0 Tax rates...7. 6 Inadequate supply of infrastructure...3. 9 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 141
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...129 8. 06 Soundness of banks...2. 9...140
1. 16 Reliability of police services...2. 2...142 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 9...52 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 8...131 3. 04 General government debt,%GDP*..*31.7.40
5. 04 Quality of math and science education...3. 5...100 5. 05 Quality of management schools...
and training services...2. 8...138 5. 08 Extent of staff training...2. 9...137
6. 01 Intensity of local competition...3. 9...134 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*51.6.118 Burundi  2014 World Economic Forum 2. 1: Country/Economy Profiles
142 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...80.4.6 Health and primary education...91.5.4 Efficiency enhancers (35.0%).100.3.6 Higher education and training...123.2.9
Inflation...1. 6 Cambodia Cambodia Emerging and Developing Asia Factor driven Efficiency driven Innovation driven
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 143
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...60 8. 06 Soundness of banks...4. 5...88
1. 16 Reliability of police services...2. 9...123 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...72 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 0...58 3. 04 General government debt,%GDP*..*28.1.30
5. 04 Quality of math and science education...3. 2...111 5. 05 Quality of management schools...
and training services...3. 6...104 5. 08 Extent of staff training...3. 9...82
6. 01 Intensity of local competition...4. 9...86 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*21.4.14 Cambodia  2014 World Economic Forum 2. 1: Country/Economy Profiles
144 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...90.4.4 Health and primary education...112.4.7 Efficiency enhancers (35.0%).113.3.5 Higher education and training...117.3.2
Inflation...3. 3 Policy instability...1. 9 Poor public health...1. 6 Foreign currency regulations...1. 4
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 145
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...102 8. 06 Soundness of banks...4. 5...92
1. 16 Reliability of police services...4. 3...62 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 2...95 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*18.6.16
5. 04 Quality of math and science education...4. 3...65 5. 05 Quality of management schools...
and training services...4. 0...77 5. 08 Extent of staff training...4. 0...69
6. 01 Intensity of local competition...4. 6...109 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*48.8.108 Cameroon  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 146 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...51.5.1 Health and primary education...7...6. 6 Efficiency enhancers (50.0%).6...5. 4
Inflation...0. 9 Government instability/coups...0. 8 Corruption...0. 7 Foreign currency regulations...0. 6
Canada Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Canada Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 147
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 6...17 8. 06 Soundness of banks...6. 7...1
1. 16 Reliability of police services...6. 1...11 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...74 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*89.1.124
5. 04 Quality of math and science education...5. 1...19 5. 05 Quality of management schools...
and training services...5. 3...20 5. 08 Extent of staff training...4. 7...22
6. 01 Intensity of local competition...5. 5...33 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*24.3.20 Canada  2014 World Economic Forum Percent of responses
Country/Economy Profiles 148 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...106.4.1 Health and primary education...57.6.0 Efficiency enhancers (50.0%).127.3.3 Higher education and training...89.3.9
Inflation...3. 0 Poor public health...1. 7 Policy instability...1. 4 Foreign currency regulations...0. 5
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 149
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...91 8. 06 Soundness of banks...4. 4...96
1. 16 Reliability of police services...4. 4...56 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 7...133 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*95.0.131
5. 04 Quality of math and science education...3. 9...86 5. 05 Quality of management schools...
and training services...3. 5...108 5. 08 Extent of staff training...3. 7...104
6. 01 Intensity of local competition...4. 5...117 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*37.2.70 Cape verde  2014 World Economic Forum 2. 1: Country/Economy Profiles
150 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...73.4.7 Health and primary education...144.2.7 Efficiency enhancers (35.0%).142.2.7 Higher education and training...143.2.0
Inflation...1. 2 Chad Chad Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 151
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...136 8. 06 Soundness of banks...3. 2...134
1. 16 Reliability of police services...2. 6...134 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 4...61 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 2...65 3. 04 General government debt,%GDP*..*30.2.36
5. 04 Quality of math and science education...2. 8...127 5. 05 Quality of management schools...
and training services...2. 7...142 5. 08 Extent of staff training...2. 8...139
6. 01 Intensity of local competition...3. 8...137 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*73.8.138 Chad  2014 World Economic Forum Percent of responses
Country/Economy Profiles 152 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...22.5.9 Health and primary education...70.5.7 Efficiency enhancers (50.0%).29.4.7 Higher education and training...32.5.1
Inflation...0. 5 Foreign currency regulations...0. 3 Government instability/coups...0. 3 Chile Chile Latin america and the Caribbean
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 153
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 3...32 8. 06 Soundness of banks...6. 3...11
1. 16 Reliability of police services...6. 3...4 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 7...32 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 8...1 3. 04 General government debt,%GDP*..*12.2.8
5. 04 Quality of math and science education...3. 5...99 5. 05 Quality of management schools...
and training services...4. 5...46 5. 08 Extent of staff training...4. 2...52
6. 01 Intensity of local competition...5. 6...27 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.7.28 Chile  2014 World Economic Forum Percent of responses
Country/Economy Profiles 154 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...10.6.4 Health and primary education...46.6.1 Efficiency enhancers (50.0%).30.4.7 Higher education and training...65.4.4
Inflation...6. 4 Policy instability...6. 3 Tax rates...6. 0 Insufficient capacity to innovate...5. 0
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 155
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 9...13 8. 06 Soundness of banks...5. 0...63
1. 16 Reliability of police services...4. 3...61 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 9...50 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*22.4.22
5. 04 Quality of math and science education...4. 3...56 5. 05 Quality of management schools...
and training services...4. 4...58 5. 08 Extent of staff training...4. 3...46
6. 01 Intensity of local competition...5. 4...44 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*63.7.131 China  2014 World Economic Forum Percent of responses
Country/Economy Profiles 156 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...29.5.6 Health and primary education...105.5.2 Efficiency enhancers (50.0%).63.4.2 Higher education and training...69.4.4
Inflation...1. 3 Foreign currency regulations...0. 7 Colombia Colombia Latin america and the Caribbean Factor
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 157
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...82 8. 06 Soundness of banks...5. 8...30
1. 16 Reliability of police services...4. 0...78 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 0...37 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..*31.8.42
5. 04 Quality of math and science education...3. 3...109 5. 05 Quality of management schools...
and training services...4. 1...71 5. 08 Extent of staff training...3. 9...83
6. 01 Intensity of local competition...5. 2...56 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*76.0.139 Colombia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 158 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...93.4.4 Health and primary education...48.6.1 Efficiency enhancers (50.0%).56.4.3 Higher education and training...37.5.0
Inflation...1. 8 Policy instability...1. 5 Crime and theft...1. 1 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 159
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...111 8. 06 Soundness of banks...5. 8...31
1. 16 Reliability of police services...5. 0...38 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 6...116 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 2...94 3. 04 General government debt,%GDP*..*37.0.56
5. 04 Quality of math and science education...4. 4...47 5. 05 Quality of management schools...
and training services...4. 9...28 5. 08 Extent of staff training...4. 7...21
6. 01 Intensity of local competition...5. 2...59 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*55.3.125 Costa rica  2014 World Economic Forum 2. 1: Country/Economy Profiles
160 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...68.4.7 Health and primary education...140.3.2 Efficiency enhancers (35.0%).108.3.6 Higher education and training...121.3.1
Inflation...0. 2 Tax regulations...0. 1 Poor public health...0. 0 Restrictive labor regulations...0. 0
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 161
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 8...55 8. 06 Soundness of banks...4. 8...77
1. 16 Reliability of police services...3. 8...92 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 5...63 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*43.2.72
5. 04 Quality of math and science education...5. 1...22 5. 05 Quality of management schools...
and training services...4. 3...62 5. 08 Extent of staff training...4. 0...70
6. 01 Intensity of local competition...4. 6...112 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*46.4.103 CÃ'te d†Ivoire  2014 World Economic Forum
Country/Economy Profiles 162 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...91.4.4 Health and primary education...60.5.9 Efficiency enhancers (50.0%).68.4.1 Higher education and training...53.4.7
Inflation...0. 2 Croatia Croatia Emerging and Developing Europe Factor driven Efficiency driven Innovation driven
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 163
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...114 8. 06 Soundness of banks...4. 9...69
1. 16 Reliability of police services...4. 4...55 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 5...114 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*59.8.99
5. 04 Quality of math and science education...4. 9...26 5. 05 Quality of management schools...
and training services...4. 1...70 5. 08 Extent of staff training...3. 2...129
6. 01 Intensity of local competition...4. 9...83 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*19.8.11 Croatia  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 164 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...134.3.3 Health and primary education...9...6. 5 Efficiency enhancers (50.0%).57.4.3 Higher education and training...
Inflation...3. 3 Policy instability...2. 9 Crime and theft...2. 7 Tax regulations...2. 4
Cyprus Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Cyprus Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 165
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...75 8. 06 Soundness of banks...2. 4...143
1. 16 Reliability of police services...4. 7...44 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 7...105 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 4...61 3. 04 General government debt,%GDP*..*112.0.136
5. 04 Quality of math and science education...5. 4...10 5. 05 Quality of management schools...
and training services...4. 7...34 5. 08 Extent of staff training...4. 3...43
6. 01 Intensity of local competition...5. 4...37 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*22.5.17 Cyprus  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 166 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...40.5.4 Health and primary education...37.6.2 Efficiency enhancers (50.0%).34.4.6 Higher education and training...35.5.0
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(*)
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 167
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 1...42 8. 06 Soundness of banks...5. 9...24
1. 16 Reliability of police services...4. 1...75 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 9...70 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 4...1 3. 04 General government debt,%GDP*..*47.9.83
5. 04 Quality of math and science education...4. 1...74 5. 05 Quality of management schools...
and training services...4. 9...27 5. 08 Extent of staff training...4. 1...55
6. 01 Intensity of local competition...5. 7...17 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*48.1.106 Czech republic  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 168 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...16.6.1 Health and primary education...25.6.4 Efficiency enhancers (50.0%).17.5.1 Higher education and training...10.5.7
Inflation...0. 5 Foreign currency regulations...0. 3 Poor public health...0. 3 Government instability/coups...
Denmark Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Denmark Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 169
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...87 8. 06 Soundness of banks...4. 7...81
1. 16 Reliability of police services...6. 0...15 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 4...29 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*45.2.76
5. 04 Quality of math and science education...4. 5...42 5. 05 Quality of management schools...
and training services...5. 3...18 5. 08 Extent of staff training...4. 9...15
6. 01 Intensity of local competition...5. 4...45 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.0.26 Denmark  2014 World Economic Forum Percent of responses
Country/Economy Profiles 170 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...94.4.4 Health and primary education...107.5.0 Efficiency enhancers (50.0%).90.3.8 Higher education and training...99.3.7
Inflation...9. 0 Inadequately educated workforce...8. 9 Inefficient government bureaucracy...7. 5 Crime and theft...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 171
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...83 8. 06 Soundness of banks...5. 6...45
1. 16 Reliability of police services...2. 6...139 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 6...85 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 8...90 3. 04 General government debt,%GDP*..*33.8.47
5. 04 Quality of math and science education...2. 1...142 5. 05 Quality of management schools...
and training services...4. 1...74 5. 08 Extent of staff training...3. 9...86
6. 01 Intensity of local competition...5. 0...72 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*43.5.93 Dominican republic  2014 World Economic Forum Percent of responses
Country/Economy Profiles 172 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...141.3.0 Health and primary education...97.5.4 Efficiency enhancers (50.0%).106.3.6 Higher education and training...111.3.3
Inflation...3. 2 Tax regulations...3. 1 Inefficient government bureaucracy...2. 7 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 173
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...103 8. 06 Soundness of banks...4. 2...110
1. 16 Reliability of police services...3. 3...111 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†14.1.142 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 9...118 3. 04 General government debt,%GDP*..*89.2.125
5. 04 Quality of math and science education...2. 4...136 5. 05 Quality of management schools...
and training services...3. 2...124 5. 08 Extent of staff training...2. 8...142
6. 01 Intensity of local competition...4. 0...133 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*42.6.90 Egypt  2014 World Economic Forum Percent of responses
Country/Economy Profiles 174 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...100.4.2 Health and primary education...80.5.6 Efficiency enhancers (50.0%).96.3.7 Higher education and training...94.3.9
Inflation...7. 5 Corruption...6. 9 Tax regulations...4. 8 Foreign currency regulations...4. 6
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 175
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 0...45 8. 06 Soundness of banks...4. 1...114
1. 16 Reliability of police services...3. 7...97 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 0...93 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*54.9.92
5. 04 Quality of math and science education...3. 4...103 5. 05 Quality of management schools...
and training services...4. 5...43 5. 08 Extent of staff training...4. 0...71
6. 01 Intensity of local competition...4. 8...89 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*38.1.72 El salvador  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 176 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...20.6.0 Health and primary education...26.6.3 Efficiency enhancers (50.0%).27.4.7 Higher education and training...20.5.5
Inflation...4. 9 Corruption...2. 0 Tax regulations...1. 8 Poor public health...1. 7 Policy instability...
Estonia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Estonia Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 177
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...26 8. 06 Soundness of banks...5. 7...39
1. 16 Reliability of police services...5. 3...32 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 4...28 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 5...73 3. 04 General government debt,%GDP*..*11.3.7
5. 04 Quality of math and science education...5. 1...18 5. 05 Quality of management schools...
and training services...4. 8...29 5. 08 Extent of staff training...4. 4...36
6. 01 Intensity of local competition...5. 5...29 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.4.110 Estonia  2014 World Economic Forum 2. 1: Country/Economy Profiles
178 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...95.4.4 Health and primary education...110.4.8 Efficiency enhancers (35.0%).120.3.4 Higher education and training...131.2.6
Inflation...7. 1 Tax rates...6. 9 Poor work ethic in national labor force...6. 0 Tax regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 179
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...110 8. 06 Soundness of banks...4. 3...102
1. 16 Reliability of police services...3. 8...93 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 4...82 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 0...126 3. 04 General government debt,%GDP*..*22.2.21
5. 04 Quality of math and science education...3. 6...94 5. 05 Quality of management schools...
and training services...3. 3...122 5. 08 Extent of staff training...3. 4...123
6. 01 Intensity of local competition...4. 5...113 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*33.4.51 Ethiopia  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 180 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...43.5.3 Health and primary education...1...6. 9 Efficiency enhancers (50.0%).10.5.3 Higher education and training...
Inflation...1. 0 Government instability/coups...0. 9 Foreign currency regulations...0. 7 Poor work ethic in national labor force...
Finland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Finland Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 181
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 3...8 8. 06 Soundness of banks...6. 5...5
1. 16 Reliability of police services...6. 7...1 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 6...67 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*57.0.95
5. 04 Quality of math and science education...6. 3...2 5. 05 Quality of management schools...
and training services...5. 9...6 5. 08 Extent of staff training...5. 3...5
6. 01 Intensity of local competition...4. 6...108 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*39.8.76 Finland  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 182 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...82.4.6 Health and primary education...18.6.4 Efficiency enhancers (50.0%).19.5.1 Higher education and training...28.5.3
Inflation...0. 6 Corruption...0. 3 Crime and theft...0. 0 Poor public health...0. 0
France Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
France Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 183
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 3...35 8. 06 Soundness of banks...5. 4...47
1. 16 Reliability of police services...5. 3...30 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 2...96 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*93.9.129
5. 04 Quality of math and science education...5. 2...17 5. 05 Quality of management schools...
and training services...5. 3...21 5. 08 Extent of staff training...4. 5...31
6. 01 Intensity of local competition...5. 5...31 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*64.7.132 France  2014 World Economic Forum Percent of responses
Country/Economy Profiles 184 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...18.6.0 Health and primary education...130.4.0 Efficiency enhancers (41.4%).119.3.4 Higher education and training...126.2.8
Inflation...2. 7 Foreign currency regulations...2. 3 Tax rates...1. 4 Poor public health...1. 1
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 185
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 0...123 8. 06 Soundness of banks...4. 9...70
1. 16 Reliability of police services...3. 5...107 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 7...45 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 5...56 3. 04 General government debt,%GDP*..*22.9.24
5. 04 Quality of math and science education...3. 3...110 5. 05 Quality of management schools...
and training services...3. 0...134 5. 08 Extent of staff training...3. 7...100
6. 01 Intensity of local competition...4. 3...124 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*43.5.93 Gabon  2014 World Economic Forum 2. 1: Country/Economy Profiles
186 The Global Competitiveness Report 2014†2015 Percent of responses Rank Score out of 144)( 1†7
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...142.3.0 Health and primary education...133.3.9 Efficiency enhancers (35.0%).117.3.4 Higher education and training...107.3.5
Inflation...9. 1 Inadequate supply of infrastructure...7. 3 Insufficient capacity to innovate...5. 3
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 187
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 4...93 8. 06 Soundness of banks...4. 9...68
1. 16 Reliability of police services...4. 6...49 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†8. 2...135 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 2...95 3. 04 General government debt,%GDP*..*82.1.121
5. 04 Quality of math and science education...3. 6...97 5. 05 Quality of management schools...
and training services...4. 0...78 5. 08 Extent of staff training...4. 3...42
6. 01 Intensity of local competition...4. 9...87 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*283.2.144 Gambia, The  2014 World Economic Forum Percent of responses
Country/Economy Profiles 188 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...48.5.1 Health and primary education...63.5.8 Efficiency enhancers (50.0%).79.3.9 Higher education and training...92.3.9
Inflation...2. 3 Foreign currency regulations...1. 8 Corruption...0. 1 Crime and theft...0. 0
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 189
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 1...118 8. 06 Soundness of banks...4. 9...67
1. 16 Reliability of police services...5. 4...28 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 3...40 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*†0. 5...78 3. 04 General government debt,%GDP*..
5. 04 Quality of math and science education...3. 4...105 5. 05 Quality of management schools...
and training services...3. 4...116 5. 08 Extent of staff training...3. 5...114
6. 01 Intensity of local competition...4. 6...105 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*16.4.10 Georgia  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 190 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...24.5.8 Health and primary education...14.6.5 Efficiency enhancers (50.0%).9...5. 3 Higher education and training...
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
Germany Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 191
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...28 8. 06 Soundness of banks...5. 3...55
1. 16 Reliability of police services...5. 9...19 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...23 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*78.1.118
5. 04 Quality of math and science education...5. 1...20 5. 05 Quality of management schools...
and training services...6. 0...3 5. 08 Extent of staff training...5. 0...13
6. 01 Intensity of local competition...5. 9...12 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.4.110 Germany  2014 World Economic Forum 2. 1: Country/Economy Profiles
192 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...133.3.4 Health and primary education...121.4.5 Efficiency enhancers (35.0%).89.3.8 Higher education and training...106.3.5
Inflation...10.0 Corruption...6. 2 Poor work ethic in national labor force...5. 6 Inefficient government bureaucracy...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 193
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 2...36 8. 06 Soundness of banks...4. 4...97
1. 16 Reliability of police services...4. 1...72 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†10.8.141 3. 02 Gross national savings,%GDP*..
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*..
5. 04 Quality of math and science education...4. 4...52 5. 05 Quality of management schools...
and training services...3. 8...92 5. 08 Extent of staff training...4. 1...61
6. 01 Intensity of local competition...4. 4...118 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*22.9.18 Ghana  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 194 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...135.3.3 Health and primary education...41.6.1 Efficiency enhancers (50.0%).65.4.1 Higher education and training...44.4.8
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(*)
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 195
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...135 8. 06 Soundness of banks...2. 8...141
1. 16 Reliability of police services...4. 4...58 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 6...66 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*†0. 9...85 3. 04 General government debt,%GDP*..
5. 04 Quality of math and science education...4. 3...61 5. 05 Quality of management schools...
and training services...3. 8...90 5. 08 Extent of staff training...3. 6...112
6. 01 Intensity of local competition...5. 1...71 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.0.96 Greece  2014 World Economic Forum Percent of responses
Country/Economy Profiles 196 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...64.4.7 Health and primary education...100.5.3 Efficiency enhancers (50.0%).76.4.0 Higher education and training...103.3.6
Inflation...0. 6 Foreign currency regulations...0. 4 Government instability/coups...0. 2 Guatemala Guatemala Latin america and the Caribbean
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 197
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...63 8. 06 Soundness of banks...6. 0...19
1. 16 Reliability of police services...2. 9...124 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 1...53 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 3...88 3. 04 General government debt,%GDP*..*24.4.26
5. 04 Quality of math and science education...2. 5...135 5. 05 Quality of management schools...
and training services...4. 4...54 5. 08 Extent of staff training...4. 6...28
6. 01 Intensity of local competition...5. 4...42 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.9.85 Guatemala  2014 World Economic Forum 2. 1: Country/Economy Profiles
198 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...138.3.2 Health and primary education...139.3.3 Efficiency enhancers (35.0%).138.2.9 Higher education and training...140.2.2
Inflation...2. 8 Insufficient capacity to innovate...2. 0 Government instability/coups...1. 8 Tax regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 199
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...130 8. 06 Soundness of banks...3. 6...127
1. 16 Reliability of police services...3. 0...119 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 3...111 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*12.0.141 3. 04 General government debt,%GDP*..*37.8.57 3. 05 Country credit rating, 0†100 (best*..
5. 04 Quality of math and science education...3. 1...115 5. 05 Quality of management schools...
and training services...2. 8...139 5. 08 Extent of staff training...3. 2...128
6. 01 Intensity of local competition...4. 2...129 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*91.2.142 Guinea  2014 World Economic Forum Percent of responses
Country/Economy Profiles 200 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...118.3.9 Health and primary education...113.4.7 Efficiency enhancers (50.0%).109.3.6 Higher education and training...82.4.1
Inflation...1. 4 Insufficient capacity to innovate...0. 7 Poor public health...0. 6 Tax regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 201
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 3...34 8. 06 Soundness of banks...4. 8...75
1. 16 Reliability of police services...2. 8...131 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 1...94 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 5...70 3. 04 General government debt,%GDP*..*63.9.107
5. 04 Quality of math and science education...4. 3...55 5. 05 Quality of management schools...
and training services...4. 0...76 5. 08 Extent of staff training...4. 0...64
6. 01 Intensity of local competition...4. 7...102 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*32.5.48 Guyana  2014 World Economic Forum 2. 1: Country/Economy Profiles
202 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...120.3.9 Health and primary education...126.4.2 Efficiency enhancers (35.0%).135.3.1 Higher education and training...109.3.4
Inflation...1. 4 Tax regulations...1. 4 Foreign currency regulations...0. 8 Restrictive labor regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 203
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 0...124 8. 06 Soundness of banks...4. 2...105
1. 16 Reliability of police services...3. 0...120 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 7...126 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 8...116 3. 04 General government debt,%GDP*..*21.3.20
5. 04 Quality of math and science education...2. 9...124 5. 05 Quality of management schools...
and training services...2. 7...140 5. 08 Extent of staff training...3. 2...130
6. 01 Intensity of local competition...3. 8...140 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.4.79 Haiti  2014 World Economic Forum Percent of responses
Country/Economy Profiles 204 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...123.3.8 Health and primary education...85.5.5 Efficiency enhancers (39.8%).99.3.6 Higher education and training...100.3.6
Inflation...3. 2 Inadequately educated workforce...2. 7 Policy instability...2. 3 Poor public health...2. 0
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 205
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 8...56 8. 06 Soundness of banks...5. 7...34
1. 16 Reliability of police services...3. 2...115 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 4...131 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 2...92 3. 04 General government debt,%GDP*..*40.2.63
5. 04 Quality of math and science education...2. 9...121 5. 05 Quality of management schools...
and training services...4. 0...80 5. 08 Extent of staff training...4. 4...38
6. 01 Intensity of local competition...4. 8...88 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*39.2.74 Honduras  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 206 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...14.6.2 Health and primary education...32.6.3 Efficiency enhancers (50.0%).3...5. 6 Higher education and training...
Inflation...11.7 Restrictive labor regulations...11.4 Inadequately educated workforce...9. 9 Policy instability...9. 8
Hongâ Kong SAR Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Hong kong SAR Advanced economies  2014 World Economic Forum The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 207
Country/Economy Profiles Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk(*)
the Country/Economy Profiles†on page 101 1 See the â€oetechnical Notes and Sources†section
8. 05 Venture capital availability...4. 3...5 8. 06 Soundness of banks...6. 5...7
1. 16 Reliability of police services...6. 2...6 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 8...16 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 3...86 3. 04 General government debt,%GDP*..*33.8.48
5. 04 Quality of math and science education...5. 4...9 5. 05 Quality of management schools...
and training services...5. 4...16 5. 08 Extent of staff training...4. 6...26
6. 01 Intensity of local competition...6. 1...4 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*22.9.18 Hong kong SAR Â 2014 World Economic Forum Percent of responses
Country/Economy Profiles 208 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...61.4.8 Health and primary education...64.5.8 Efficiency enhancers (50.0%).53.4.3 Higher education and training...52.4.7
Inflation...0. 1 Hungary Hungary Emerging and Developing Europe Factor driven Efficiency driven Innovation driven
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 209
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 1...121 8. 06 Soundness of banks...4. 8...73
1. 16 Reliability of police services...4. 1...66 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 4...59 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..*79.2.120
5. 04 Quality of math and science education...4. 3...60 5. 05 Quality of management schools...
and training services...3. 9...85 5. 08 Extent of staff training...3. 6...108
6. 01 Intensity of local competition...5. 3...47 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.7.114 Hungary  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 210 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...92.4.4 Health and primary education...10.6.5 Efficiency enhancers (50.0%).35.4.6 Higher education and training...13.5.6
Inflation...14.9 Tax rates...9. 4 Inefficient government bureaucracy...6. 9 Policy instability...5. 2 Tax regulations...
Iceland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Iceland Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 211
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 8...58 8. 06 Soundness of banks...4. 0...121
1. 16 Reliability of police services...6. 1...10 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 9...51 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 9...77 3. 04 General government debt,%GDP*..*90.2.127
5. 04 Quality of math and science education...4. 7...33 5. 05 Quality of management schools...
and training services...4. 6...39 5. 08 Extent of staff training...4. 7...25
6. 01 Intensity of local competition...4. 9...80 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.9.38 Iceland  2014 World Economic Forum 2. 1: Country/Economy Profiles
212 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...101.4.2 Health and primary education...98.5.4 Efficiency enhancers (35.0%).61.4.2 Higher education and training...93.3.9
Inflation...4. 5 Insufficient capacity to innovate...3. 8 Poor public health...2. 8 India India Emerging and Developing Asia
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 213
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 5...20 8. 06 Soundness of banks...4. 3...101
1. 16 Reliability of police services...3. 8...88 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 3...129 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*9. 5...133 3. 04 General government debt,%GDP*..*66.7.110
5. 04 Quality of math and science education...4. 2...67 5. 05 Quality of management schools...
and training services...4. 2...64 5. 08 Extent of staff training...3. 9...77
6. 01 Intensity of local competition...4. 8...91 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*62.8.130 India  2014 World Economic Forum Percent of responses
Country/Economy Profiles 214 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...34.5.5 Health and primary education...74.5.7 Efficiency enhancers (50.0%).46.4.4 Higher education and training...61.4.5
Inflation...9. 5 Inefficient government bureaucracy...8. 3 Inadequate supply of infrastructure...7. 5 Policy instability...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 215
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 9...14 8. 06 Soundness of banks...5. 1...60
1. 16 Reliability of police services...4. 1...67 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 1...55 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 4...112 3. 04 General government debt,%GDP*..*26.1.27
5. 04 Quality of math and science education...4. 6...36 5. 05 Quality of management schools...
and training services...4. 4...50 5. 08 Extent of staff training...4. 7...24
6. 01 Intensity of local competition...5. 3...53 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*32.2.46 Indonesia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 216 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...62.4.8 Health and primary education...52.6.0 Efficiency enhancers (48.6%).98.3.7 Higher education and training...78.4.2
Inflation...13.0 Inefficient government bureaucracy...11.5 Inadequate supply of infrastructure...10.6 Corruption...7. 9 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 217
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...133 8. 06 Soundness of banks...3. 8...125
1. 16 Reliability of police services...4. 0...80 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 9...35 3. 02 Gross national savings,%GDP*..
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*..
5. 04 Quality of math and science education...4. 5...44 5. 05 Quality of management schools...
and training services...3. 9...88 5. 08 Extent of staff training...3. 0...135
6. 01 Intensity of local competition...4. 4...119 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.1.97 Iran, Islamic Rep  2014 World Economic Forum Rank Score
Country/Economy Profiles 218 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...130.3.5 Health and primary education...8...6. 5 Efficiency enhancers (50.0%).21.5.0 Higher education and training...
Inflation...1. 5 Policy instability...1. 5 Tax regulations...1. 5 Foreign currency regulations...1. 0
Ireland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Ireland Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 219
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 0...46 8. 06 Soundness of banks...3. 0...139
1. 16 Reliability of police services...6. 1...12 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 4...132 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 5...1 3. 04 General government debt,%GDP*..*122.8.137
5. 04 Quality of math and science education...5. 0...24 5. 05 Quality of management schools...
and training services...5. 0...25 5. 08 Extent of staff training...4. 8...20
6. 01 Intensity of local competition...5. 2...60 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*25.7.23 Ireland  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 220 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...50.5.1 Health and primary education...44.6.1 Efficiency enhancers (50.0%).26.4.8 Higher education and training...36.5.0
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
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 221
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 2...9 8. 06 Soundness of banks...6. 0...18
1. 16 Reliability of police services...4. 1...69 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 2...79 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*66.7.111
5. 04 Quality of math and science education...4. 0...79 5. 05 Quality of management schools...
and training services...4. 6...38 5. 08 Extent of staff training...4. 0...76
6. 01 Intensity of local competition...4. 2...126 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.9.38 Israel  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 222 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...108.4.1 Health and primary education...22.6.4 Efficiency enhancers (50.0%).47.4.4 Higher education and training...47.4.8
Inflation...0. 6 Inadequately educated workforce...0. 5 Poor public health...0. 4 Foreign currency regulations...
Italy Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Italy Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 223
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 0...127 8. 06 Soundness of banks...4. 4...93
1. 16 Reliability of police services...4. 8...42 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...77 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*132.5.139
5. 04 Quality of math and science education...4. 5...45 5. 05 Quality of management schools...
and training services...4. 8...30 5. 08 Extent of staff training...3. 2...133
6. 01 Intensity of local competition...5. 2...58 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*65.8.134 Italy  2014 World Economic Forum Percent of responses
Country/Economy Profiles 224 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...136.3.3 Health and primary education...72.5.7 Efficiency enhancers (50.0%).77.3.9 Higher education and training...76.4.2
Inflation...6. 7 Tax regulations...5. 2 Inadequately educated workforce...4. 4 Restrictive labor regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 225
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...117 8. 06 Soundness of banks...5. 3...53
1. 16 Reliability of police services...3. 6...105 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 1...21 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*9. 4...132 3. 04 General government debt,%GDP*..*138.9.140
5. 04 Quality of math and science education...3. 5...101 5. 05 Quality of management schools...
and training services...3. 9...86 5. 08 Extent of staff training...4. 1...59
6. 01 Intensity of local competition...5. 4...39 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.3.99 Jamaica  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 226 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...127.3.6 Health and primary education...6...6. 6 Efficiency enhancers (50.0%).7...5. 4
Inflation...1. 3 Access to financing...1. 2 Poor work ethic in national labor force...1. 1
Japan Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Japan Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 227
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...24 8. 06 Soundness of banks...5. 7...33
1. 16 Reliability of police services...6. 0...17 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†8. 4...136 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 4...62 3. 04 General government debt,%GDP*..*243.2.143
5. 04 Quality of math and science education...5. 1...21 5. 05 Quality of management schools...
and training services...5. 6...9 5. 08 Extent of staff training...5. 4...2
6. 01 Intensity of local competition...6. 4...1 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.7.114 Japan  2014 World Economic Forum Percent of responses
Country/Economy Profiles 228 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...131.3.4 Health and primary education...47.6.1 Efficiency enhancers (50.0%).70.4.1 Higher education and training...48.4.8
Inflation...5. 1 Crime and theft...3. 9 Foreign currency regulations...3. 6 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 229
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 5...23 8. 06 Soundness of banks...5. 2...57
1. 16 Reliability of police services...5. 3...31 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 3...110 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 5...98 3. 04 General government debt,%GDP*..*87.7.123
5. 04 Quality of math and science education...4. 6...39 5. 05 Quality of management schools...
and training services...4. 6...41 5. 08 Extent of staff training...4. 1...58
6. 01 Intensity of local competition...5. 2...57 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*28.9.34 Jordan  2014 World Economic Forum Percent of responses
Country/Economy Profiles 230 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...27.5.7 Health and primary education...96.5.4 Efficiency enhancers (50.0%).48.4.3 Higher education and training...62.4.5
Inflation...6. 9 Inadequately educated workforce...6. 8 Insufficient capacity to innovate...6. 1 Tax rates...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 231
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 0...47 8. 06 Soundness of banks...4. 2...108
1. 16 Reliability of police services...3. 8...91 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 0...9 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...107 3. 04 General government debt,%GDP*..*13.5.11
5. 04 Quality of math and science education...4. 1...72 5. 05 Quality of management schools...
and training services...4. 2...66 5. 08 Extent of staff training...4. 1...62
6. 01 Intensity of local competition...4. 6...111 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*28.6.33 Kazakhstan  2014 World Economic Forum 2. 1: Country/Economy Profiles
232 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...126.3.7 Health and primary education...120.4.6 Efficiency enhancers (35.0%).66.4.1 Higher education and training...95.3.8
Inflation...6. 8 Policy instability...3. 5 Tax regulations...3. 3 Restrictive labor regulations...2. 9
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 233
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 1...43 8. 06 Soundness of banks...5. 3...54
1. 16 Reliability of police services...3. 9...85 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 2...124 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 7...100 3. 04 General government debt,%GDP*..*50.5.88
5. 04 Quality of math and science education...4. 0...76 5. 05 Quality of management schools...
and training services...4. 8...32 5. 08 Extent of staff training...4. 4...34
6. 01 Intensity of local competition...5. 7...21 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.2.98 Kenya  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 234 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...7...6. 4 Health and primary education...27.6.3 Efficiency enhancers (50.0%).25.4.8 Higher education and training...
Inflation...2. 5 Inadequately educated workforce...2. 1 Government instability/coups...0. 6 Poor public health...
Korea, Rep. Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Korea, Rep. Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 235
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...107 8. 06 Soundness of banks...3. 9...122
1. 16 Reliability of police services...4. 6...48 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 0...14 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*36.7.55
5. 04 Quality of math and science education...4. 7...34 5. 05 Quality of management schools...
and training services...4. 7...36 5. 08 Extent of staff training...4. 2...53
6. 01 Intensity of local competition...5. 9...13 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.9.30 Korea, Rep  2014 World Economic Forum Percent of responses
Country/Economy Profiles 236 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...3...6. 7 Health and primary education...82.5.6 Efficiency enhancers (41.3%).83.3.9 Higher education and training...
Inflation...0. 3 Tax rates...0. 0 Kuwait Kuwait Middle east, North africa, and Pakistan Factor driven Efficiency
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 237
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...69 8. 06 Soundness of banks...5. 4...50
1. 16 Reliability of police services...4. 4...57 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*28.9.2 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..*5. 3...3
5. 04 Quality of math and science education...3. 4...102 5. 05 Quality of management schools...
and training services...3. 6...100 5. 08 Extent of staff training...3. 7...97
6. 01 Intensity of local competition...4. 5...114 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*12.4.4 Kuwait  2014 World Economic Forum 2. 1: Country/Economy Profiles
238 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...104.4.2 Health and primary education...101.5.3 Efficiency enhancers (35.0%).104.3.6 Higher education and training...91.3.9
Inflation...4. 3 Tax regulations...3. 9 Insufficient capacity to innovate...2. 6 Inadequate supply of infrastructure...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 239
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...115 8. 06 Soundness of banks...3. 7...126
1. 16 Reliability of police services...3. 1...118 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 8...88 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 6...114 3. 04 General government debt,%GDP*..*47.7.82
5. 04 Quality of math and science education...3. 0...120 5. 05 Quality of management schools...
and training services...3. 5...110 5. 08 Extent of staff training...3. 5...113
6. 01 Intensity of local competition...4. 6...107 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*33.4.51 Kyrgyz Republic  2014 World Economic Forum 2. 1:
Country/Economy Profiles 240 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...124.3.8 Health and primary education...90.5.4 Efficiency enhancers (35.0%).107.3.6 Higher education and training...110.3.3
Inflation...2. 6 Policy instability...2. 4 Poor public health...1. 7 Crime and theft...1. 6
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 241
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...85 8. 06 Soundness of banks...4. 8...76
1. 16 Reliability of police services...4. 2...64 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 7...104 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 4...111 3. 04 General government debt,%GDP*..*62.0.102
5. 04 Quality of math and science education...3. 9...83 5. 05 Quality of management schools...
and training services...3. 9...83 5. 08 Extent of staff training...4. 3...45
6. 01 Intensity of local competition...5. 1...69 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*26.8.25 Lao PDR Â 2014 World Economic Forum Percent of responses
Country/Economy Profiles 242 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...32.5.5 Health and primary education...31.6.3 Efficiency enhancers (50.0%).36.4.6 Higher education and training...31.5.1
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
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 243
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 0...48 8. 06 Soundness of banks...5. 2...56
1. 16 Reliability of police services...4. 6...46 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 3...41 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 0...68 3. 04 General government debt,%GDP*..*32.1.43
5. 04 Quality of math and science education...4. 9...27 5. 05 Quality of management schools...
and training services...4. 4...53 5. 08 Extent of staff training...4. 4...33
6. 01 Intensity of local competition...5. 6...23 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.9.64 Latvia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 244 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...143.2.6 Health and primary education...30.6.3 Efficiency enhancers (50.0%).85.3.9 Higher education and training...67.4.4
Inflation...3. 4 Poor work ethic in national labor force...3. 1 Inadequately educated workforce...2. 7
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 245
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 8...59 8. 06 Soundness of banks...5. 8...27
1. 16 Reliability of police services...2. 8...132 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†9. 5...138 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 2...64 3. 04 General government debt,%GDP*..*139.7.141
5. 04 Quality of math and science education...5. 7...5 5. 05 Quality of management schools...
and training services...4. 2...67 5. 08 Extent of staff training...3. 5...117
6. 01 Intensity of local competition...5. 5...30 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*30.2.42 Lebanon  2014 World Economic Forum 2. 1: Country/Economy Profiles
246 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...28.5.7 Health and primary education...128.4.0 Efficiency enhancers (35.0%).130.3.2 Higher education and training...116.3.2
Inflation...1. 2 Tax regulations...0. 4 Lesotho Lesotho Sub-saharan africa Factor driven Efficiency driven Innovation
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 247
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...72 8. 06 Soundness of banks...3. 5...130
1. 16 Reliability of police services...4. 7...45 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*3. 0...10 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 3...96 3. 04 General government debt,%GDP*..*39.6.61
5. 04 Quality of math and science education...3. 8...90 5. 05 Quality of management schools...
and training services...3. 9...82 5. 08 Extent of staff training...4. 0...75
6. 01 Intensity of local competition...4. 8...93 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*16.0.9 Lesotho  2014 World Economic Forum Percent of responses
Country/Economy Profiles 248 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...41.5.4 Health and primary education...119.4.6 Efficiency enhancers (36.1%).137.3.0 Higher education and training...102.3.6
Inflation...0. 6 Tax regulations...0. 4 Tax rates...0. 2 Libya Libya Middle east, North africa, and Pakistan
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 249
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 6...142 8. 06 Soundness of banks...2. 7...142
1. 16 Reliability of police services...2. 0...143 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 6...12 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*0. 0...1
5. 04 Quality of math and science education...2. 9...125 5. 05 Quality of management schools...
and training services...2. 5...143 5. 08 Extent of staff training...2. 7...143
6. 01 Intensity of local competition...3. 7...141 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*31.6.44 Libya  2014 World Economic Forum Percent of responses
Country/Economy Profiles 250 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...42.5.3 Health and primary education...35.6.2 Efficiency enhancers (50.0%).38.4.5 Higher education and training...26.5.3
Inflation...1. 1 Crime and theft...0. 8 Foreign currency regulations...0. 3 Poor public health...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 251
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...73 8. 06 Soundness of banks...4. 2...113
1. 16 Reliability of police services...4. 3...60 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 1...54 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..*39.3.60
5. 04 Quality of math and science education...5. 1...23 5. 05 Quality of management schools...
and training services...4. 8...33 5. 08 Extent of staff training...4. 2...50
6. 01 Intensity of local competition...5. 6...22 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*43.1.92 Lithuania  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 252 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...8...6. 4 Health and primary education...36.6.2 Efficiency enhancers (50.0%).22.5.0 Higher education and training...
Inflation...4. 1 Inadequate supply of infrastructure...3. 9 Foreign currency regulations...2. 9 Poor work ethic in national labor force...
Luxembourg Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Luxembourg Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 253
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 2...10 8. 06 Soundness of banks...6. 0...16
1. 16 Reliability of police services...6. 1...9 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...22 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..*22.9.23
5. 04 Quality of math and science education...4. 8...28 5. 05 Quality of management schools...
and training services...5. 3...22 5. 08 Extent of staff training...5. 4...3
6. 01 Intensity of local competition...5. 2...54 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*20.7.12 Luxembourg  2014 World Economic Forum Percent of responses
Country/Economy Profiles 254 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...55.4.9 Health and primary education...78.5.6 Efficiency enhancers (50.0%).69.4.1 Higher education and training...71.4.3
Inflation...1. 0 Macedonia, FYR Macedonia, FYR Emerging and Developing Europe Factor driven Efficiency driven
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Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...52 8. 06 Soundness of banks...5. 3...52
1. 16 Reliability of police services...4. 5...53 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 0...91 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..*35.8.52
5. 04 Quality of math and science education...4. 4...48 5. 05 Quality of management schools...
and training services...3. 8...93 5. 08 Extent of staff training...3. 9...81
6. 01 Intensity of local competition...5. 4...43 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*8. 2...1 Macedonia, FYR Â 2014 World Economic Forum
Country/Economy Profiles 256 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...81.4.6 Health and primary education...125.4.3 Efficiency enhancers (35.0%).128.3.3 Higher education and training...130.2.6
Inflation...3. 2 Foreign currency regulations...1. 4 Poor work ethic in national labor force...1. 4
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 257
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...89 8. 06 Soundness of banks...4. 0...119
1. 16 Reliability of police services...2. 8...130 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 5...44 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...106 3. 04 General government debt,%GDP*..*49.8.86
5. 04 Quality of math and science education...3. 7...93 5. 05 Quality of management schools...
and training services...3. 4...117 5. 08 Extent of staff training...3. 7...102
6. 01 Intensity of local competition...4. 8...90 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.8.63 Madagascar  2014 World Economic Forum 2. 1: Country/Economy Profiles
258 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...144.2.4 Health and primary education...123.4.4 Efficiency enhancers (35.0%).122.3.4 Higher education and training...132.2.6
Inflation...9. 6 Tax rates...8. 8 Inefficient government bureaucracy...8. 2 Crime and theft...6. 7
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 259
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...112 8. 06 Soundness of banks...4. 8...74
1. 16 Reliability of police services...4. 0...82 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 7...125 3. 02 Gross national savings,%GDP*..
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*..
5. 04 Quality of math and science education...3. 0...119 5. 05 Quality of management schools...
and training services...3. 4...113 5. 08 Extent of staff training...4. 0...65
6. 01 Intensity of local competition...4. 9...76 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*34.9.57 Malawi  2014 World Economic Forum Percent of responses
Country/Economy Profiles 260 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...44.5.3 Health and primary education...33.6.3 Efficiency enhancers (50.0%).24.4.9 Higher education and training...46.4.8
Inflation...6. 4 Policy instability...5. 9 Poor work ethic in national labor force...5. 8
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 261
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 6...2 8. 06 Soundness of banks...5. 7...35
1. 16 Reliability of police services...5. 1...35 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 6...102 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*58.2.97
5. 04 Quality of math and science education...5. 2...16 5. 05 Quality of management schools...
and training services...5. 4...13 5. 08 Extent of staff training...5. 3...4
6. 01 Intensity of local competition...5. 5...34 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*36.3.65 Malaysia  2014 World Economic Forum 2. 1: Country/Economy Profiles
262 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...86.4.5 Health and primary education...138.3.3 Efficiency enhancers (35.0%).129.3.2 Higher education and training...128.2.7
Inflation...0. 8 Mali Mali Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 263
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 4...94 8. 06 Soundness of banks...3. 9...123
1. 16 Reliability of police services...3. 8...90 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 7...68 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*†0. 6...79 3. 04 General government debt,%GDP*..
5. 04 Quality of math and science education...3. 1...114 5. 05 Quality of management schools...
and training services...3. 4...115 5. 08 Extent of staff training...3. 3...126
6. 01 Intensity of local competition...4. 7...97 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.5.112 Mali  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 264 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...65.4.7 Health and primary education...20.6.4 Efficiency enhancers (50.0%).44.4.4 Higher education and training...42.4.9
Inflation...2. 3 Policy instability...2. 0 Government instability/coups...0. 7 Foreign currency regulations...
Malta Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Malta Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 265
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 1...40 8. 06 Soundness of banks...6. 3...10
1. 16 Reliability of police services...5. 3...33 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 9...71 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*71.7.114
5. 04 Quality of math and science education...5. 3...13 5. 05 Quality of management schools...
and training services...4. 6...40 5. 08 Extent of staff training...4. 4...40
6. 01 Intensity of local competition...6. 1...3 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*41.0.86 Malta  2014 World Economic Forum 2. 1: Country/Economy Profiles
266 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...115.4.0 Health and primary education...137.3.5 Efficiency enhancers (35.0%).143.2.7 Higher education and training...141.2.2
Inflation...3. 2 Crime and theft...2. 8 Tax rates...2. 8 Tax regulations...1. 9
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 267
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...134 8. 06 Soundness of banks...3. 1...135
1. 16 Reliability of police services...3. 0...121 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 1...38 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 1...82 3. 04 General government debt,%GDP*..*87.7.122
5. 04 Quality of math and science education...2. 9...123 5. 05 Quality of management schools...
and training services...3. 1...128 5. 08 Extent of staff training...2. 6...144
6. 01 Intensity of local competition...4. 1...131 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*68.2.135 Mauritania  2014 World Economic Forum Percent of responses
Country/Economy Profiles 268 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...74.4.7 Health and primary education...42.6.1 Efficiency enhancers (50.0%).59.4.2 Higher education and training...54.4.7
Inflation...4. 7 Tax rates...2. 7 Policy instability...2. 5 Tax regulations...1. 7 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 269
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 1...41 8. 06 Soundness of banks...6. 1...15
1. 16 Reliability of police services...4. 5...51 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 5...84 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 5...71 3. 04 General government debt,%GDP*..*53.8.89
5. 04 Quality of math and science education...4. 6...40 5. 05 Quality of management schools...
and training services...4. 4...52 5. 08 Extent of staff training...4. 4...35
6. 01 Intensity of local competition...5. 6...24 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*28.2.32 Mauritius  2014 World Economic Forum Percent of responses
Country/Economy Profiles 270 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...53.5.0 Health and primary education...71.5.7 Efficiency enhancers (50.0%).60.4.2 Higher education and training...87.4.0
Inflation...1. 1 Foreign currency regulations...0. 4 Poor public health...0. 4 Government instability/coups...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 271
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...86 8. 06 Soundness of banks...5. 6...41
1. 16 Reliability of police services...2. 8...128 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 9...89 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 8...76 3. 04 General government debt,%GDP*..*46.5.80
5. 04 Quality of math and science education...2. 7...128 5. 05 Quality of management schools...
and training services...4. 3...60 5. 08 Extent of staff training...4. 0...74
6. 01 Intensity of local competition...5. 1...64 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*53.7.122 Mexico  2014 World Economic Forum Percent of responses
Country/Economy Profiles 272 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...56.4.9 Health and primary education...93.5.4 Efficiency enhancers (38.4%).88.3.8 Higher education and training...84.4.1
Inflation...3. 4 Poor work ethic in national labor force...2. 5 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 273
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...116 8. 06 Soundness of banks...3. 8...124
1. 16 Reliability of police services...3. 1...116 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 8...46 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 6...89 3. 04 General government debt,%GDP*..*24.4.25
5. 04 Quality of math and science education...4. 0...80 5. 05 Quality of management schools...
and training services...3. 3...119 5. 08 Extent of staff training...3. 4...120
6. 01 Intensity of local competition...4. 7...99 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.4.79 Moldova  2014 World Economic Forum Percent of responses
Country/Economy Profiles 274 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...125.3.8 Health and primary education...65.5.8 Efficiency enhancers (43.0%).92.3.8 Higher education and training...68.4.4
Inflation...9. 3 Policy instability...9. 1 Access to financing...8. 8 Corruption...8. 5
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 275
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 6...141 8. 06 Soundness of banks...4. 3...99
1. 16 Reliability of police services...3. 7...94 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†10.1.139 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*9. 6...134 3. 04 General government debt,%GDP*..*63.0.105
5. 04 Quality of math and science education...4. 5...46 5. 05 Quality of management schools...
and training services...2. 8...137 5. 08 Extent of staff training...4. 0...73
6. 01 Intensity of local competition...4. 9...82 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*24.6.21 Mongolia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 276 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...88.4.5 Health and primary education...29.6.3 Efficiency enhancers (50.0%).73.4.0 Higher education and training...51.4.7
Inflation...1. 2 Policy instability...1. 2 Poor public health...1. 1 Foreign currency regulations...0. 9
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 277
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...50 8. 06 Soundness of banks...4. 2...109
1. 16 Reliability of police services...4. 3...59 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 4...60 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*56.8.94
5. 04 Quality of math and science education...4. 9...25 5. 05 Quality of management schools...
and training services...3. 6...103 5. 08 Extent of staff training...3. 9...87
6. 01 Intensity of local competition...3. 9...135 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*20.9.13 Montenegro  2014 World Economic Forum Percent of responses
Country/Economy Profiles 278 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...66.4.7 Health and primary education...76.5.7 Efficiency enhancers (50.0%).78.3.9 Higher education and training...104.3.6
Inflation...0. 5 Crime and theft...0. 0 Government instability/coups...0. 0 Morocco Morocco Middle east, North africa, and Pakistan
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 279
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...49 8. 06 Soundness of banks...5. 6...42
1. 16 Reliability of police services...4. 9...41 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 4...113 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*61.9.101
5. 04 Quality of math and science education...4. 2...68 5. 05 Quality of management schools...
and training services...4. 1...72 5. 08 Extent of staff training...3. 6...106
6. 01 Intensity of local competition...5. 3...48 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*49.6.113 Morocco  2014 World Economic Forum 2. 1: Country/Economy Profiles
280 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...110.4.1 Health and primary education...135.3.6 Efficiency enhancers (35.0%).131.3.2 Higher education and training...138.2.4
Inflation...2. 0 Insufficient capacity to innovate...1. 8 Tax regulations...1. 2 Poor public health...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 281
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 1...120 8. 06 Soundness of banks...4. 6...84
1. 16 Reliability of police services...2. 9...125 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 6...101 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 2...83 3. 04 General government debt,%GDP*..*43.3.73
5. 04 Quality of math and science education...2. 6...133 5. 05 Quality of management schools...
and training services...3. 4...112 5. 08 Extent of staff training...3. 4...121
6. 01 Intensity of local competition...4. 7...96 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*37.5.71 Mozambique  2014 World Economic Forum 2. 1: Country/Economy Profiles
282 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...116.4.0 Health and primary education...117.4.6 Efficiency enhancers (35.0%).134.3.1 Higher education and training...135.2.4
Inflation...4. 0 Government instability/coups...3. 8 Poor work ethic in national labor force...3. 8
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 283
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 6...143 8. 06 Soundness of banks...3. 5...131
1. 16 Reliability of police services...2. 9...126 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 9...108 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...105 3. 04 General government debt,%GDP*..*42.7.71
5. 04 Quality of math and science education...2. 7...129 5. 05 Quality of management schools...
and training services...2. 9...135 5. 08 Extent of staff training...2. 9...138
6. 01 Intensity of local competition...4. 7...100 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*48.9.109 Myanmar  2014 World Economic Forum Percent of responses
Country/Economy Profiles 284 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...78.4.6 Health and primary education...115.4.6 Efficiency enhancers (50.0%).97.3.7 Higher education and training...115.3.2
Inflation...2. 2 Foreign currency regulations...2. 1 Poor public health...1. 1 Policy instability...0. 4
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 285
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...88 8. 06 Soundness of banks...5. 7...36
1. 16 Reliability of police services...3. 9...84 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 7...103 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 2...109 3. 04 General government debt,%GDP*..*26.6.28
5. 04 Quality of math and science education...2. 9...126 5. 05 Quality of management schools...
and training services...3. 6...102 5. 08 Extent of staff training...4. 1...57
6. 01 Intensity of local competition...4. 6...104 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*21.8.15 Namibia  2014 World Economic Forum 2. 1: Country/Economy Profiles
286 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...37.5.4 Health and primary education...75.5.7 Efficiency enhancers (35.0%).115.3.4 Higher education and training...113.3.2
Inflation...2. 0 Tax rates...1. 9 Insufficient capacity to innovate...1. 4 Poor public health...0. 2
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 287
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...105 8. 06 Soundness of banks...4. 2...103
1. 16 Reliability of police services...3. 8...87 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*2. 0...11 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*9. 9...136 3. 04 General government debt,%GDP*..*31.0.38
5. 04 Quality of math and science education...3. 8...87 5. 05 Quality of management schools...
and training services...3. 1...131 5. 08 Extent of staff training...3. 3...125
6. 01 Intensity of local competition...4. 8...94 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*31.5.43 Nepal  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 288 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...39.5.4 Health and primary education...5...6. 6 Efficiency enhancers (50.0%).8...5. 3
Inflation...1. 1 Government instability/coups...1. 0 Foreign currency regulations...0. 7 Crime and theft...
Netherlands Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Netherlands Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 289
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 5...22 8. 06 Soundness of banks...4. 7...80
1. 16 Reliability of police services...6. 0...16 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 1...78 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*74.9.117
5. 04 Quality of math and science education...5. 4...8 5. 05 Quality of management schools...
and training services...6. 1...2 5. 08 Extent of staff training...5. 0...12
6. 01 Intensity of local competition...5. 9...14 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*39.3.75 Netherlands  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 290 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...25.5.8 Health and primary education...4...6. 7 Efficiency enhancers (50.0%).11.5.3 Higher education and training...
Inflation...1. 4 Foreign currency regulations...1. 2 Poor public health...0. 2 Corruption...0. 0
New zealand Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
New zealand Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 291
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 9...12 8. 06 Soundness of banks...6. 7...2
1. 16 Reliability of police services...6. 5...2 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 6...31 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*35.9.54
5. 04 Quality of math and science education...5. 3...12 5. 05 Quality of management schools...
and training services...4. 9...26 5. 08 Extent of staff training...4. 9...17
6. 01 Intensity of local competition...5. 6...26 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*34.6.55 New zealand  2014 World Economic Forum 2. 1: Country/Economy Profiles
292 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...67.4.7 Health and primary education...95.5.4 Efficiency enhancers (35.0%).118.3.4 Higher education and training...114.3.2
Inflation...0. 6 Crime and theft...0. 0 Foreign currency regulations...0. 0 Government instability/coups...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 293
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...65 8. 06 Soundness of banks...4. 8...72
1. 16 Reliability of police services...3. 7...98 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 5...30 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 4...121 3. 04 General government debt,%GDP*..*42.4.70
5. 04 Quality of math and science education...2. 7...130 5. 05 Quality of management schools...
and training services...3. 3...123 5. 08 Extent of staff training...3. 8...88
6. 01 Intensity of local competition...4. 2...130 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*64.9.133 Nicaragua  2014 World Economic Forum 2. 1: Country/Economy Profiles
294 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...76.4.6 Health and primary education...143.3.0 Efficiency enhancers (35.0%).82.3.9 Higher education and training...124.2.9
Inflation...1. 8 Foreign currency regulations...1. 3 Insufficient capacity to innovate...1. 2 Government instability/coups...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 295
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...131 8. 06 Soundness of banks...4. 8...78
1. 16 Reliability of police services...2. 6...136 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 9...106 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 5...127 3. 04 General government debt,%GDP*..*19.4.18
5. 04 Quality of math and science education...2. 6...132 5. 05 Quality of management schools...
and training services...3. 7...95 5. 08 Extent of staff training...4. 3...48
6. 01 Intensity of local competition...5. 3...50 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*33.8.53 Nigeria  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 296 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...1...6. 8 Health and primary education...15.6.5 Efficiency enhancers (50.0%).13.5.2 Higher education and training...
Inflation...0. 8 Poor public health...0. 4 Corruption...0. 2 Crime and theft...0. 1
Norway Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Norway Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 297
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 3...6 8. 06 Soundness of banks...6. 4...8
1. 16 Reliability of police services...6. 1...13 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*11.1.4 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*29.5.35
5. 04 Quality of math and science education...4. 5...41 5. 05 Quality of management schools...
and training services...5. 5...11 5. 08 Extent of staff training...5. 2...8
6. 01 Intensity of local competition...5. 3...49 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.7.82 Norway  2014 World Economic Forum Percent of responses
Country/Economy Profiles 298 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...6...6. 6 Health and primary education...54.6.0 Efficiency enhancers (50.0%).49.4.3 Higher education and training...
Inflation...1. 2 Tax rates...0. 4 Poor public health...0. 3 Tax regulations...0. 2 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 299
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 5...21 8. 06 Soundness of banks...5. 9...22
1. 16 Reliability of police services...5. 6...27 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*5. 8...8 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*7. 0...4
5. 04 Quality of math and science education...3. 6...95 5. 05 Quality of management schools...
and training services...3. 8...94 5. 08 Extent of staff training...4. 3...49
6. 01 Intensity of local competition...5. 0...73 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*22.0.16 Oman  2014 World Economic Forum 2. 1: Country/Economy Profiles
300 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...137.3.2 Health and primary education...129.4.0 Efficiency enhancers (35.0%).101.3.6 Higher education and training...127.2.8
Inflation...3. 7 Tax regulations...3. 5 Insufficient capacity to innovate...3. 3 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 301
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...92 8. 06 Soundness of banks...4. 8...71
1. 16 Reliability of police services...2. 8...127 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 8...134 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 4...120 3. 04 General government debt,%GDP*..*63.1.106
5. 04 Quality of math and science education...3. 4...104 5. 05 Quality of management schools...
and training services...3. 6...101 5. 08 Extent of staff training...3. 4...122
6. 01 Intensity of local competition...4. 9...84 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*34.7.56 Pakistan  2014 World Economic Forum Percent of responses
Country/Economy Profiles 302 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...52.5.1 Health and primary education...79.5.6 Efficiency enhancers (50.0%).55.4.3 Higher education and training...66.4.4
Inflation...5. 2 Tax regulations...4. 0 Inadequate supply of infrastructure...3. 2 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 303
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 6...16 8. 06 Soundness of banks...6. 2...12
1. 16 Reliability of police services...4. 5...52 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...75 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 0...81 3. 04 General government debt,%GDP*..*41.3.67
5. 04 Quality of math and science education...3. 3...107 5. 05 Quality of management schools...
and training services...4. 2...63 5. 08 Extent of staff training...4. 3...47
6. 01 Intensity of local competition...5. 1...67 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.5.81 Panama  2014 World Economic Forum Percent of responses
Country/Economy Profiles 304 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...54.5.0 Health and primary education...111.4.8 Efficiency enhancers (50.0%).112.3.5 Higher education and training...112.3.3
Inflation...1. 1 Foreign currency regulations...1. 0 Tax rates...0. 9 Policy instability...0. 6
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 305
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...113 8. 06 Soundness of banks...5. 6...44
1. 16 Reliability of police services...2. 3...141 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 8...47 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..*15.2.13
5. 04 Quality of math and science education...2. 3...138 5. 05 Quality of management schools...
and training services...3. 0...133 5. 08 Extent of staff training...3. 7...105
6. 01 Intensity of local competition...5. 1...68 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.0.58 Paraguay  2014 World Economic Forum Percent of responses
Country/Economy Profiles 306 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...21.5.9 Health and primary education...94.5.4 Efficiency enhancers (50.0%).62.4.2 Higher education and training...83.4.1
Inflation...0. 5 Peru Peru Latin america and the Caribbean Factor driven Efficiency driven Innovation driven
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 307
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...54 8. 06 Soundness of banks...5. 8...29
1. 16 Reliability of police services...2. 6...137 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 5...17 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..*19.6.19
5. 04 Quality of math and science education...2. 3...139 5. 05 Quality of management schools...
and training services...3. 9...87 5. 08 Extent of staff training...3. 8...93
6. 01 Intensity of local competition...5. 1...70 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*36.4.66 Peru  2014 World Economic Forum Percent of responses
Country/Economy Profiles 308 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...26.5.8 Health and primary education...92.5.4 Efficiency enhancers (46.9%).58.4.3 Higher education and training...64.4.4
Inflation...3. 8 Inadequately educated workforce...2. 3 Poor work ethic in national labor force...2. 1
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 309
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 3...31 8. 06 Soundness of banks...5. 5...46
1. 16 Reliability of police services...3. 6...101 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 1...25 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 9...57 3. 04 General government debt,%GDP*..*38.3.58
5. 04 Quality of math and science education...4. 1...70 5. 05 Quality of management schools...
and training services...4. 4...49 5. 08 Extent of staff training...4. 6...27
6. 01 Intensity of local competition...5. 2...61 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.5.100 Philippines  2014 World Economic Forum Percent of responses
Country/Economy Profiles 310 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...63.4.8 Health and primary education...39.6.2 Efficiency enhancers (50.0%).32.4.6 Higher education and training...34.5.0
Inflation...0. 7 Foreign currency regulations...0. 6 Crime and theft...0. 3 Poland Poland Emerging and Developing Europe
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 311
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...99 8. 06 Soundness of banks...5. 4...51
1. 16 Reliability of police services...4. 1...76 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 5...100 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 9...1 3. 04 General government debt,%GDP*..*57.5.96
5. 04 Quality of math and science education...4. 4...50 5. 05 Quality of management schools...
and training services...4. 8...31 5. 08 Extent of staff training...4. 0...72
6. 01 Intensity of local competition...5. 3...51 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*41.6.87 Poland  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 312 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...128.3.5 Health and primary education...24.6.4 Efficiency enhancers (50.0%).37.4.6 Higher education and training...24.5.4
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
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 313
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...84 8. 06 Soundness of banks...4. 2...111
1. 16 Reliability of police services...5. 3...29 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 9...107 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 4...59 3. 04 General government debt,%GDP*..*128.8.138
5. 04 Quality of math and science education...4. 5...43 5. 05 Quality of management schools...
and training services...5. 1...24 5. 08 Extent of staff training...4. 2...54
6. 01 Intensity of local competition...5. 1...63 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*42.3.89 Portugal  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 314 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...99.4.2 Health and primary education...103.5.3 Efficiency enhancers (50.0%).28.4.7 Higher education and training...27.5.3
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
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 315
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...51 8. 06 Soundness of banks...4. 9...64
1. 16 Reliability of police services...4. 8...43 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 2...109 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*63.0.104
5. 04 Quality of math and science education...3. 8...91 5. 05 Quality of management schools...
and training services...5. 6...10 5. 08 Extent of staff training...4. 9...16
6. 01 Intensity of local competition...6. 0...7 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*50.7.116 Puerto rico  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 316 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...2...6. 7 Health and primary education...28.6.3 Efficiency enhancers (50.0%).20.5.0 Higher education and training...
Inflation...10.0 Insufficient capacity to innovate...8. 1 Inefficient government bureaucracy...7. 1 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 317
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 8...1 8. 06 Soundness of banks...6. 3...9
1. 16 Reliability of police services...6. 3...3 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*11.1.3 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 1...63 3. 04 General government debt,%GDP*..*34.2.50
5. 04 Quality of math and science education...5. 5...6 5. 05 Quality of management schools...
and training services...5. 3...19 5. 08 Extent of staff training...5. 3...6
6. 01 Intensity of local competition...5. 7...18 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*11.3.3 Qatar  2014 World Economic Forum Percent of responses
Country/Economy Profiles 318 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...46.5.2 Health and primary education...88.5.5 Efficiency enhancers (50.0%).50.4.3 Higher education and training...58.4.6
Inflation...4. 7 Policy instability...4. 7 Government instability/coups...2. 5 Foreign currency regulations...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 319
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...78 8. 06 Soundness of banks...4. 5...91
1. 16 Reliability of police services...4. 2...65 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 5...65 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 0...80 3. 04 General government debt,%GDP*..*39.3.59
5. 04 Quality of math and science education...4. 7...31 5. 05 Quality of management schools...
and training services...4. 2...68 5. 08 Extent of staff training...3. 6...111
6. 01 Intensity of local competition...4. 4...120 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*42.9.91 Romania  2014 World Economic Forum Percent of responses
Country/Economy Profiles 320 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...31.5.5 Health and primary education...56.6.0 Efficiency enhancers (50.0%).41.4.5 Higher education and training...39.5.0
Inflation...7. 6 Inadequately educated workforce...7. 3 Poor work ethic in national labor force...4. 8
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 321
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...61 8. 06 Soundness of banks...4. 0...118
1. 16 Reliability of police services...3. 2...114 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 3...39 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 8...115 3. 04 General government debt,%GDP*..*13.4.10
5. 04 Quality of math and science education...4. 3...59 5. 05 Quality of management schools...
and training services...4. 3...59 5. 08 Extent of staff training...3. 8...89
6. 01 Intensity of local competition...5. 0...74 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*50.7.116 Russian Federation  2014 World Economic Forum 2. 1:
Country/Economy Profiles 322 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...79.4.6 Health and primary education...86.5.5 Efficiency enhancers (35.0%).91.3.8 Higher education and training...122.3.0
Inflation...5. 3 Inefficient government bureaucracy...3. 5 Corruption...2. 5 Policy instability...1. 6
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 323
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 1...39 8. 06 Soundness of banks...4. 7...82
1. 16 Reliability of police services...5. 8...21 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 5...62 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 2...84 3. 04 General government debt,%GDP*..*29.4.34
5. 04 Quality of math and science education...4. 1...71 5. 05 Quality of management schools...
and training services...3. 7...96 5. 08 Extent of staff training...4. 0...66
6. 01 Intensity of local competition...4. 9...78 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.9.38 Rwanda  2014 World Economic Forum Percent of responses
Country/Economy Profiles 324 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...4...6. 7 Health and primary education...50.6.0 Efficiency enhancers (47.8%).33.4.6 Higher education and training...
Inflation...2. 3 Tax regulations...1. 8 Foreign currency regulations...1. 2 Poor public health...0. 9
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 325
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...27 8. 06 Soundness of banks...6. 0...17
1. 16 Reliability of police services...5. 2...34 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*8. 3...6 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*3. 5...72 3. 04 General government debt,%GDP*..*2. 7...2
5. 04 Quality of math and science education...4. 1...73 5. 05 Quality of management schools...
and training services...4. 1...73 5. 08 Extent of staff training...4. 1...60
6. 01 Intensity of local competition...5. 4...40 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*14.5.6 Saudi arabia  2014 World Economic Forum 2. 1: Country/Economy Profiles
326 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...97.4.3 Health and primary education...131.4.0 Efficiency enhancers (35.0%).102.3.6 Higher education and training...119.3.2
Inflation...3. 5 Crime and theft...2. 9 Insufficient capacity to innovate...2. 9 Poor public health...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 327
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 9...53 8. 06 Soundness of banks...4. 8...79
1. 16 Reliability of police services...4. 6...47 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 4...112 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*45.9.79
5. 04 Quality of math and science education...4. 0...77 5. 05 Quality of management schools...
and training services...4. 4...56 5. 08 Extent of staff training...3. 9...78
6. 01 Intensity of local competition...4. 9...81 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*48.5.107 Senegal  2014 World Economic Forum Percent of responses
Country/Economy Profiles 328 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...129.3.5 Health and primary education...68.5.8 Efficiency enhancers (50.0%).80.3.9 Higher education and training...74.4.3
Inflation...3. 3 Inadequately educated workforce...3. 1 Insufficient capacity to innovate...2. 7 Poor public health...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 329
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 9...132 8. 06 Soundness of banks...4. 2...106
1. 16 Reliability of police services...3. 8...89 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 7...117 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 7...124 3. 04 General government debt,%GDP*..*65.8.108
5. 04 Quality of math and science education...4. 3...53 5. 05 Quality of management schools...
and training services...3. 5...106 5. 08 Extent of staff training...3. 1...134
6. 01 Intensity of local competition...4. 2...128 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*36.8.69 Serbia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 330 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...57.4.9 Health and primary education...55.6.0 Efficiency enhancers (50.0%).105.3.6 Higher education and training...85.4.0
Inflation...1. 3 Government instability/coups...1. 0 Seychelles Seychelles Sub-saharan africa Factor driven Efficiency driven
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 331
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...62 8. 06 Soundness of banks...4. 5...87
1. 16 Reliability of police services...4. 1...68 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*1. 2...13 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*4. 3...87 3. 04 General government debt,%GDP*..*62.0.103
5. 04 Quality of math and science education...4. 3...57 5. 05 Quality of management schools...
and training services...3. 6...99 5. 08 Extent of staff training...4. 0...67
6. 01 Intensity of local competition...4. 2...127 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*25.7.23 Seychelles  2014 World Economic Forum 2. 1: Country/Economy Profiles
332 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...117.3.9 Health and primary education...142.3.2 Efficiency enhancers (35.0%).136.3.1 Higher education and training...137.2.4
Inflation...5. 7 Inefficient government bureaucracy...5. 4 Crime and theft...4. 9 Inadequately educated workforce...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 333
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 8...137 8. 06 Soundness of banks...4. 1...117
1. 16 Reliability of police services...3. 4...110 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 2...56 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*9. 8...135 3. 04 General government debt,%GDP*..*32.6.44
5. 04 Quality of math and science education...2. 5...134 5. 05 Quality of management schools...
and training services...3. 2...125 5. 08 Extent of staff training...3. 6...107
6. 01 Intensity of local competition...4. 5...116 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*32.4.47 Sierra leone  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 334 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...15.6.1 Health and primary education...3...6. 7 Efficiency enhancers (50.0%).2...5. 7
Inflation...20.5 Insufficient capacity to innovate...15.2 Inadequately educated workforce...7. 6 Poor work ethic in national labor force...
Singapore Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Singapore Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 335
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 3...7 8. 06 Soundness of banks...6. 6...4
1. 16 Reliability of police services...6. 2...8 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*6. 9...7 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..*103.8.133
5. 04 Quality of math and science education...6. 3...1 5. 05 Quality of management schools...
and training services...5. 5...12 5. 08 Extent of staff training...5. 3...7
6. 01 Intensity of local competition...5. 7...20 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.1.27 Singapore  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 336 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...45.5.2 Health and primary education...84.5.5 Efficiency enhancers (50.0%).51.4.3 Higher education and training...56.4.6
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(*)
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 337
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 8...57 8. 06 Soundness of banks...5. 9...20
1. 16 Reliability of police services...3. 6...106 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 0...73 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*54.9.91
5. 04 Quality of math and science education...4. 0...75 5. 05 Quality of management schools...
and training services...4. 5...45 5. 08 Extent of staff training...3. 8...90
6. 01 Intensity of local competition...5. 5...32 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*47.2.105 Slovak Republic  2014 World Economic Forum Rank Score
Country/Economy Profiles 338 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...98.4.3 Health and primary education...12.6.5 Efficiency enhancers (50.0%).64.4.2 Higher education and training...25.5.3
Inflation...0. 6 Crime and theft...0. 3 Poor public health...0. 2 Foreign currency regulations...
Slovenia Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Slovenia Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 339
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 0...125 8. 06 Soundness of banks...2. 2...144
1. 16 Reliability of police services...4. 9...40 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†14.2.143 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*73.0.115
5. 04 Quality of math and science education...5. 2...15 5. 05 Quality of management schools...
and training services...4. 4...51 5. 08 Extent of staff training...3. 7...98
6. 01 Intensity of local competition...5. 1...66 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*32.5.48 Slovenia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 340 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...89.4.5 Health and primary education...132.4.0 Efficiency enhancers (50.0%).43.4.4 Higher education and training...86.4.0
Inflation...1. 5 Tax regulations...1. 5 Poor public health...1. 2 Tax rates...1. 0 Government instability/coups...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 341
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 2...37 8. 06 Soundness of banks...6. 5...6
1. 16 Reliability of police services...3. 6...102 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 3...97 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 8...102 3. 04 General government debt,%GDP*..*45.2.77
5. 04 Quality of math and science education...1. 9...144 5. 05 Quality of management schools...
and training services...4. 5...44 5. 08 Extent of staff training...4. 9...18
6. 01 Intensity of local competition...5. 5...36 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*30.1.41 South africa  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 342 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...121.3.8 Health and primary education...34.6.3 Efficiency enhancers (50.0%).31.4.7 Higher education and training...29.5.2
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
Spain Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 343
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...100 8. 06 Soundness of banks...4. 2...112
1. 16 Reliability of police services...5. 8...20 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 2...128 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*93.9.130
5. 04 Quality of math and science education...3. 9...85 5. 05 Quality of management schools...
and training services...4. 7...35 5. 08 Extent of staff training...3. 7...96
6. 01 Intensity of local competition...5. 5...35 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*58.6.127 Spain  2014 World Economic Forum Percent of responses
Country/Economy Profiles 344 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...114.4.0 Health and primary education...45.6.1 Efficiency enhancers (50.0%).75.4.0 Higher education and training...72.4.3
Inflation...8. 6 Tax rates...8. 4 Corruption...8. 2 Restrictive labor regulations...7. 1 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 345
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...66 8. 06 Soundness of banks...5. 8...25
1. 16 Reliability of police services...3. 7...100 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 8...120 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 9...117 3. 04 General government debt,%GDP*..*78.3.119
5. 04 Quality of math and science education...4. 8...29 5. 05 Quality of management schools...
and training services...4. 4...55 5. 08 Extent of staff training...4. 1...56
6. 01 Intensity of local competition...5. 8...16 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*55.1.124 Sri lanka  2014 World Economic Forum Percent of responses
Country/Economy Profiles 346 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...59.4.8 Health and primary education...73.5.7 Efficiency enhancers (50.0%).121.3.4 Higher education and training...105.3.5
Inflation...3. 9 Tax rates...3. 7 Foreign currency regulations...3. 0 Inadequate supply of infrastructure...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 347
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 0...126 8. 06 Soundness of banks...5. 1...58
1. 16 Reliability of police services...4. 4...54 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†6. 0...122 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*29.2.32
5. 04 Quality of math and science education...3. 8...89 5. 05 Quality of management schools...
and training services...3. 1...130 5. 08 Extent of staff training...3. 7...101
6. 01 Intensity of local competition...4. 7...98 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*27.9.30 Suriname  2014 World Economic Forum Percent of responses
Country/Economy Profiles 348 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...60.4.8 Health and primary education...134.3.7 Efficiency enhancers (50.0%).126.3.3 Higher education and training...120.3.2
Inflation...4. 8 Poor work ethic in national labor force...4. 8 Restrictive labor regulations...3. 8
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 349
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...74 8. 06 Soundness of banks...4. 9...65
1. 16 Reliability of police services...4. 6...50 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 7...33 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 6...99 3. 04 General government debt,%GDP*..*18.8.17
5. 04 Quality of math and science education...4. 0...78 5. 05 Quality of management schools...
and training services...3. 3...121 5. 08 Extent of staff training...3. 9...79
6. 01 Intensity of local competition...4. 5...115 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*36.5.67 Swaziland  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 350 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...17.6.1 Health and primary education...23.6.4 Efficiency enhancers (50.0%).12.5.2 Higher education and training...14.5.6
Inflation...1. 3 Government instability/coups...1. 1 Poor public health...1. 1 Crime and theft...
Sweden Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Sweden Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 351
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 2...11 8. 06 Soundness of banks...5. 8...26
1. 16 Reliability of police services...5. 7...24 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 0...36 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 0...69 3. 04 General government debt,%GDP*..*41.4.68
5. 04 Quality of math and science education...4. 4...49 5. 05 Quality of management schools...
and training services...5. 4...15 5. 08 Extent of staff training...5. 1...10
6. 01 Intensity of local competition...5. 4...41 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*52.0.119 Sweden  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 352 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...12.6.4 Health and primary education...11.6.5 Efficiency enhancers (50.0%).5...5. 5 Higher education and training...
Inflation...0. 7 Government instability/coups...0. 6 Crime and theft...0. 5 Poor public health...
Switzerland Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Switzerland Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 353
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 4...25 8. 06 Soundness of banks...5. 9...21
1. 16 Reliability of police services...6. 2...5 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*0. 0...24 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*†0. 2...74 3. 04 General government debt,%GDP*..
5. 04 Quality of math and science education...5. 9...4 5. 05 Quality of management schools...
and training services...6. 5...1 5. 08 Extent of staff training...5. 7...1
6. 01 Intensity of local competition...5. 7...19 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.1.35 Switzerland  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 354 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...23.5.8 Health and primary education...13.6.5 Efficiency enhancers (50.0%).16.5.1 Higher education and training...12.5.6
Inflation...4. 3 Inadequately educated workforce...2. 7 Government instability/coups...2. 5 Access to financing...
Taiwan, China Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
Taiwan, China Advanced economies  2014 World Economic Forum The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 355
Country/Economy Profiles Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk(*)
the Country/Economy Profiles†on page 101 1 See the â€oetechnical Notes and Sources†section
8. 05 Venture capital availability...3. 9...15 8. 06 Soundness of banks...5. 7...32
1. 16 Reliability of police services...5. 0...37 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 2...80 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*41.0.64
5. 04 Quality of math and science education...5. 3...14 5. 05 Quality of management schools...
and training services...5. 4...14 5. 08 Extent of staff training...4. 4...41
6. 01 Intensity of local competition...6. 1...2 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.0.58 Taiwan, China  2014 World Economic Forum 2. 1:
Country/Economy Profiles 356 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...69.4.7 Health and primary education...83.5.6 Efficiency enhancers (35.0%).111.3.5 Higher education and training...88.4.0
Inflation...4. 9 Foreign currency regulations...4. 9 Poor work ethic in national labor force...3. 4
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 357
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 2...38 8. 06 Soundness of banks...4. 4...94
1. 16 Reliability of police services...3. 9...86 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 8...34 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 0...91 3. 04 General government debt,%GDP*..*29.2.33
5. 04 Quality of math and science education...3. 8...92 5. 05 Quality of management schools...
and training services...3. 9...81 5. 08 Extent of staff training...3. 7...103
6. 01 Intensity of local competition...4. 3...122 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*86.0.141 Tajikistan  2014 World Economic Forum 2. 1: Country/Economy Profiles
358 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...109.4.1 Health and primary education...108.4.9 Efficiency enhancers (35.0%).114.3.4 Higher education and training...134.2.4
Inflation...6. 6 Inadequately educated workforce...6. 2 Poor work ethic in national labor force...4. 7
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 359
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...81 8. 06 Soundness of banks...4. 2...107
1. 16 Reliability of police services...3. 5...108 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 6...115 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 9...125 3. 04 General government debt,%GDP*..*41.0.65
5. 04 Quality of math and science education...2. 4...137 5. 05 Quality of management schools...
and training services...3. 5...109 5. 08 Extent of staff training...3. 5...116
6. 01 Intensity of local competition...4. 3...123 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*44.9.101 Tanzania  2014 World Economic Forum Percent of responses
Country/Economy Profiles 360 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...19.6.0 Health and primary education...66.5.8 Efficiency enhancers (50.0%).39.4.5 Higher education and training...59.4.6
Inflation...0. 3 Poor public health...0. 3 Foreign currency regulations...0. 1 Thailand Thailand Emerging and Developing Asia
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 361
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 0...44 8. 06 Soundness of banks...5. 7...37
1. 16 Reliability of police services...3. 2...113 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 2...27 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*45.3.78
5. 04 Quality of math and science education...3. 9...81 5. 05 Quality of management schools...
and training services...4. 2...69 5. 08 Extent of staff training...4. 4...37
6. 01 Intensity of local competition...5. 4...38 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.8.37 Thailand  2014 World Economic Forum Percent of responses
Country/Economy Profiles 362 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...49.5.1 Health and primary education...124.4.4 Efficiency enhancers (50.0%).141.2.8 Higher education and training...133.2.5
Inflation...0. 9 Tax regulations...0. 9 Timor-Leste Timor-Leste Emerging and Developing Asia
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 363
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...76 8. 06 Soundness of banks...3. 5...129
1. 16 Reliability of police services...3. 6...104 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*36.1.1 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*10.6.137 3. 04 General government debt,%GDP*..*n/a n/a
5. 04 Quality of math and science education...2. 1...141 5. 05 Quality of management schools...
and training services...2. 7...141 5. 08 Extent of staff training...3. 0...136
6. 01 Intensity of local competition...3. 8...138 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*11.0.2 Timor-Leste  2014 World Economic Forum Rank Score
Country/Economy Profiles 364 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...38.5.4 Health and primary education...59.5.9 Efficiency enhancers (50.0%).81.3.9 Higher education and training...77.4.2
Inflation...0. 9 Poor public health...0. 8 Government instability/coups...0. 5 Tax regulations...0. 2
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 365
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...109 8. 06 Soundness of banks...5. 7...40
1. 16 Reliability of police services...3. 1...117 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 3...58 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 2...93 3. 04 General government debt,%GDP*..*30.6.37
5. 04 Quality of math and science education...4. 7...35 5. 05 Quality of management schools...
and training services...4. 3...61 5. 08 Extent of staff training...4. 2...51
6. 01 Intensity of local competition...5. 2...62 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*29.1.35 Trinidad and tobago  2014 World Economic Forum Percent of responses
Country/Economy Profiles 366 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...111.4.0 Health and primary education...53.6.0 Efficiency enhancers (50.0%).94.3.7 Higher education and training...73.4.3
Inflation...4. 1 Insufficient capacity to innovate...4. 0 Crime and theft...1. 9 Poor public health...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 367
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...68 8. 06 Soundness of banks...3. 5...128
1. 16 Reliability of police services...4. 1...70 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 9...121 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 1...108 3. 04 General government debt,%GDP*..*44.4.75
5. 04 Quality of math and science education...4. 7...32 5. 05 Quality of management schools...
and training services...3. 8...89 5. 08 Extent of staff training...3. 7...99
6. 01 Intensity of local competition...4. 8...92 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*62.4.129 Tunisia  2014 World Economic Forum Percent of responses
Country/Economy Profiles 368 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...58.4.8 Health and primary education...69.5.8 Efficiency enhancers (50.0%).45.4.4 Higher education and training...50.4.7
Inflation...4. 0 Insufficient capacity to innovate...2. 8 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 369
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 5...90 8. 06 Soundness of banks...5. 7...38
1. 16 Reliability of police services...3. 6...103 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†1. 5...43 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 5...122 3. 04 General government debt,%GDP*..*35.8.53
5. 04 Quality of math and science education...3. 5...98 5. 05 Quality of management schools...
and training services...4. 4...57 5. 08 Extent of staff training...3. 8...91
6. 01 Intensity of local competition...5. 9...11 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*40.2.78 Turkey  2014 World Economic Forum 2. 1: Country/Economy Profiles
370 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...96.4.4 Health and primary education...122.4.4 Efficiency enhancers (35.0%).110.3.5 Higher education and training...129.2.7
Inflation...8. 4 Inefficient government bureaucracy...7. 6 Poor work ethic in national labor force...6. 1
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 371
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 2...106 8. 06 Soundness of banks...4. 6...83
1. 16 Reliability of police services...3. 7...95 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†3. 7...87 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*5. 4...97 3. 04 General government debt,%GDP*..*33.9.49
5. 04 Quality of math and science education...3. 1...117 5. 05 Quality of management schools...
and training services...3. 7...98 5. 08 Extent of staff training...3. 6...110
6. 01 Intensity of local competition...5. 2...55 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*36.6.68 Uganda  2014 World Economic Forum Percent of responses
Country/Economy Profiles 372 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...105.4.1 Health and primary education...43.6.1 Efficiency enhancers (50.0%).67.4.1 Higher education and training...40.4.9
Inflation...8. 0 Tax rates...7. 7 Tax regulations...4. 3 Foreign currency regulations...4. 1
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 373
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 3...97 8. 06 Soundness of banks...3. 0...138
1. 16 Reliability of police services...2. 6...135 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†4. 5...99 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*†0. 3...75 3. 04 General government debt,%GDP*..
5. 04 Quality of math and science education...4. 8...30 5. 05 Quality of management schools...
and training services...3. 9...84 5. 08 Extent of staff training...3. 8...92
6. 01 Intensity of local competition...4. 7...101 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*54.9.123 Ukraine  2014 World Economic Forum Percent of responses
Country/Economy Profiles 374 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...5...6. 6 Health and primary education...38.6.2 Efficiency enhancers (50.0%).14.5.2 Higher education and training...
Inflation...15.2 Inadequately educated workforce...14.4 Access to financing...13.9 Poor work ethic in national labor force...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 375
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 4...4 8. 06 Soundness of banks...5. 9...23
1. 16 Reliability of police services...6. 2...7 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*10.1.5 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*12.3.9
5. 04 Quality of math and science education...5. 3...11 5. 05 Quality of management schools...
and training services...5. 4...17 5. 08 Extent of staff training...5. 1...11
6. 01 Intensity of local competition...6. 0...9 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*14.9.7 United arab emirates  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 376 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...107.4.1 Health and primary education...21.6.4 Efficiency enhancers (50.0%).4...5. 5 Higher education and training...
Inflation...1. 4 Corruption...0. 8 Poor public health...0. 8 Crime and theft...0. 5
United kingdom Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
United kingdom Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 377
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...3. 6...19 8. 06 Soundness of banks...4. 5...89
1. 16 Reliability of police services...5. 6...26 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 8...119 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*90.1.126
5. 04 Quality of math and science education...4. 3...63 5. 05 Quality of management schools...
and training services...5. 7...7 5. 08 Extent of staff training...4. 7...23
6. 01 Intensity of local competition...6. 1...5 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*34.0.54 United kingdom  2014 World Economic Forum Rank Score out of 144)( 1†7
Country/Economy Profiles 378 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...113.4.0 Health and primary education...49.6.1 Efficiency enhancers (50.0%).1...5. 7 Higher education and training...
Inflation...4. 0 Inadequate supply of infrastructure...2. 7 Insufficient capacity to innovate...2. 4
Unitedâ States Advanced economies Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
United states Advanced economies  2014 World Economic Forum Notes: Values are on a 1-to-7 scale
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 379
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...4. 4...3 8. 06 Soundness of banks...5. 4...49
1. 16 Reliability of police services...5. 7...22 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 3...130 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*104.5.134
5. 04 Quality of math and science education...4. 4...51 5. 05 Quality of management schools...
and training services...5. 6...8 5. 08 Extent of staff training...5. 0...14
6. 01 Intensity of local competition...5. 9...10 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*46.3.102 United states  2014 World Economic Forum Percent of responses
Country/Economy Profiles 380 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...84.4.5 Health and primary education...58.5.9 Efficiency enhancers (50.0%).72.4.0 Higher education and training...49.4.7
Inflation...5. 4 Poor work ethic in national labor force...4. 9 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 381
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 6...77 8. 06 Soundness of banks...5. 4...48
1. 16 Reliability of police services...4. 1...73 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†2. 3...57 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*8. 6...128 3. 04 General government debt,%GDP*..*59.4.98
5. 04 Quality of math and science education...2. 9...122 5. 05 Quality of management schools...
and training services...4. 1...75 5. 08 Extent of staff training...3. 9...80
6. 01 Intensity of local competition...4. 7...103 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*41.9.88 Uruguay  2014 World Economic Forum Percent of responses
Country/Economy Profiles 382 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...139.3.1 Health and primary education...87.5.5 Efficiency enhancers (38.0%).124.3.3 Higher education and training...70.4.3
Inflation...13.0 Policy instability...10.8 Inefficient government bureaucracy...9. 6 Corruption...6. 5 Crime and theft...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 383
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 1...122 8. 06 Soundness of banks...4. 5...90
1. 16 Reliability of police services...1. 7...144 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†15.1.144 3. 02 Gross national savings,%GDP*..
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*..
5. 04 Quality of math and science education...3. 1...118 5. 05 Quality of management schools...
and training services...3. 1...132 5. 08 Extent of staff training...3. 3...124
6. 01 Intensity of local competition...2. 9...143 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*61.7.128 Venezuela  2014 World Economic Forum 2. 1: Country/Economy Profiles
384 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...75.4.7 Health and primary education...61.5.9 Efficiency enhancers (35.0%).74.4.0 Higher education and training...96.3.7
Inflation...5. 6 Tax rates...5. 5 Government instability/coups...3. 7 Foreign currency regulations...3. 4
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 385
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 7...71 8. 06 Soundness of banks...3. 5...132
1. 16 Reliability of police services...3. 7...99 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†5. 7...118 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*6. 6...113 3. 04 General government debt,%GDP*..*55.0.93
5. 04 Quality of math and science education...3. 9...82 5. 05 Quality of management schools...
and training services...3. 3...118 5. 08 Extent of staff training...3. 9...85
6. 01 Intensity of local competition...5. 1...65 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.2.61 Vietnam  2014 World Economic Forum 2. 1: Country/Economy Profiles
386 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...140.3.0 Health and primary education...116.4.6 Efficiency enhancers (35.0%).139.2.9 Higher education and training...139.2.3
Inflation...1. 4 Insufficient capacity to innovate...1. 0 Tax rates...0. 7 Poor public health...0. 5
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 387
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 7...139 8. 06 Soundness of banks...3. 0...137
1. 16 Reliability of police services...2. 3...140 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†7. 1...127 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*11.1.139 3. 04 General government debt,%GDP*..*49.9.87 3. 05 Country credit rating, 0†100 (best*..
5. 04 Quality of math and science education...2. 3...140 5. 05 Quality of management schools...
and training services...2. 9...136 5. 08 Extent of staff training...3. 2...132
6. 01 Intensity of local competition...4. 3...125 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*32.7.50 Yemen  2014 World Economic Forum 2. 1: Country/Economy Profiles
388 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...103.4.2 Health and primary education...118.4.6 Efficiency enhancers (35.0%).86.3.9 Higher education and training...80.4.2
Inflation...4. 6 Policy instability...3. 7 Foreign currency regulations...3. 5 Insufficient capacity to innovate...
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 389
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...2. 4...95 8. 06 Soundness of banks...5. 1...59
1. 16 Reliability of police services...4. 0...79 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†8. 6...137 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*7. 0...119 3. 04 General government debt,%GDP*..*35.1.51
5. 04 Quality of math and science education...4. 3...62 5. 05 Quality of management schools...
and training services...4. 4...48 5. 08 Extent of staff training...4. 1...63
6. 01 Intensity of local competition...5. 6...25 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*15.1.8 Zambia  2014 World Economic Forum 2. 1: Country/Economy Profiles
390 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013
environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market
Macroeconomic environment...87.4.5 Health and primary education...106.5.0 Efficiency enhancers (35.0%).133.3.1 Higher education and training...118.3.2
Inflation...0. 0 Zimbabwe Zimbabwe Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2
the Country/Economy Profiles†on page 101 The Global Competitiveness Index in detail The Global Competitiveness Report 2014†2015 391
Country/Economy Profiles INDICATOR VALUE RANK/144 6th pillar: Goods market efficiency (cont†d 6. 06 No. procedures to start a business*..
8. 05 Venture capital availability...1. 6...140 8. 06 Soundness of banks...3. 1...136
1. 16 Reliability of police services...3. 0...122 1. 17 Ethical behavior of firms...
Macroeconomic environment 3. 01 Government budget balance,%GDP*..*†0. 1...26 3. 02 Gross national savings,%GDP*..
3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*54.7.90
5. 04 Quality of math and science education...4. 2...66 5. 05 Quality of management schools...
and training services...3. 5...107 5. 08 Extent of staff training...3. 9...84
6. 01 Intensity of local competition...4. 9...77 6. 02 Extent of market dominance...
6. 05 Total tax rate,%profits*..*35.3.62 Zimbabwe  2014 World Economic Forum  2014 World Economic Forum
economies included in The Global Competitiveness Report 2014†2015. The data tables are organized into 13 sections
Macroeconomic environment Pillar 4: Health and primary education Pillar 5: Higher education and training Pillar 6: Goods market efficiency
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Finland...6. 4 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Italy...
from the base year for a particular economy, this is indicated in a footnote. Special cases and exceptions are
more economies are possible. In such cases, shared rankings are indicated accordingly. For example, four economies†Australia, Hong kong SAR, Portugal, and
RANK COUNTRY/ECONOMY VALUE 1 United states...16,799. 7 2 China...9, 181.4 3 Japan...4, 901.5
RANK COUNTRY/ECONOMY VALUE 73 Guatemala...54.4 74 Bulgaria...53.0 75 Costa rica...49.6 76 Ethiopia...
1. 16 Reliability of police services...421 1. 17 Ethical behavior of firms...422 1. 18 Strength of auditing
Macroeconomic environment...437 3. 01 Government budget balance...438 3. 02 Gross national savings...439
3. 03 Inflation...440 3. 04 Government debt...441 3. 05 Country credit rating...442 Pillar 4:
5. 04 Quality of math and science education...459 5. 05 Quality of management schools...
and training services...462 5. 08 Extent of staff training...463 Pillar 6: Goods market efficiency...
6. 01 Intensity of local competition...466 6. 02 Extent of market dominance...467 6. 03 Effectiveness of antimonopoly policy...
8. 05 Venture capital availability...500 8. 06 Soundness of banks...501 8. 07 Regulation of securities exchanges...
RANK COUNTRY/ECONOMY VALUE 1 United states...16,799. 7 2 China...9, 181.4 3 Japan...4, 901.5
RANK COUNTRY/ECONOMY VALUE 73 Guatemala...54.4 74 Bulgaria...53.0 75 Costa rica...49.6 76 Ethiopia...
RANK COUNTRY/ECONOMY VALUE 1 China...1, 360.8 2 India...1, 243.3 3 United states...316.4
RANK COUNTRY/ECONOMY VALUE 73 Dominican republic...10.4 74 Haiti...10.3 75 Hungary...9. 9 76 Sweden...
RANK COUNTRY/ECONOMY VALUE 1 Luxembourg...110,424 2 Norway...100,318 3 Qatar...100,260 4 Switzerland...
RANK COUNTRY/ECONOMY VALUE 73 China...6, 747 74 Peru...6, 674 75 South africa...6, 621
RANK COUNTRY/ECONOMY VALUE 1 United states...19.31 2 China...15.40 3 India...5. 83 4 Japan...
RANK COUNTRY/ECONOMY VALUE 73 Serbia...0. 09 74 Kenya...0. 09 75 Tanzania...0. 09
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Finland...6. 4 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Italy...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Finland...6. 2 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Montenegro...3. 7 74 Kazakhstan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 1 New zealand...6. 6 2 Denmark...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Namibia...3. 2 74 Turkey...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 1 7 1 Singapore...6. 2 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 1 7 73 Zambia...3. 0 74 Russian Federation...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 New zealand...6. 7 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Swaziland...3. 8 74 Italy...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 New zealand...6. 7 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 El salvador...3. 6 74 Tajikistan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 1 Qatar...5. 6 2 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 73 Mauritius...3. 0 74 Vietnam...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 1 Qatar...6. 0 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 2 7 73 United states...3. 1 74 Algeria...
7=extremely efficient in providing goods and services 2013†14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 1 Qatar...5. 2 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Philippines...3. 4 74 Ghana...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Singapore...6. 2 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Morocco...3. 7 74 Panama...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 1 Finland...5. 6 2 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Morocco...3. 3 74 Cameroon...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Singapore...6. 1 2 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Paraguay...3. 9 74 Slovak Republic...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 1 7 1 Finland...6. 7 2 Slovenia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 1 7 73 Panama...5. 2 74 Canada...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 1 Qatar...6. 5 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Tajikistan...4. 4 74 Romania...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 1 United arab emirates...6. 8 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 United states...4. 7 74 Kazakhstan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Finland...6. 7 2 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Uruguay...4. 1 74 Algeria...
1. 16 Reliability of police services In your country, to what extent can police services be relied upon to enforce law and order?
1=cannot be relied upon at all; 7=can be relied completely upon 2013†14 weighted average SOURCE:
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 New zealand...6. 5 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Kenya...3. 9 74 Jamaica...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 1 South africa...6. 7 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 73 Kuwait...4. 6 74 Gabon...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 1 New zealand...6. 1 2 Norway...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 6 7 73 El salvador...4. 5 74 Spain...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 Finland...6. 2 2 South africa...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Kuwait...4. 1 74 Zimbabwe...
In your country, to what extent are the interests of minority shareholders protected by the legal system? 1=not protected at all;
RANK COUNTRY/ECONOMY VALUE 1 New zealand...9. 7 2 Singapore...9. 3 3 Hong kong SAR...
RANK COUNTRY/ECONOMY VALUE 68 Guyana...5. 3 68 Jamaica...5. 3 68 Kuwait...5. 3
Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables 426 The Global Competitiveness Report 2014†2015
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Switzerland...6. 6 2 Hong kong SAR...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Slovak Republic...4. 2 74 Russian Federation...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 United arab emirates...6. 6 2 Portugal...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 CÃ'te d†Ivoire...3. 9
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7 1 Japan...6. 7 2 Switzerland...
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.
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 Netherlands...6. 8 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Lebanon...4. 1 74 Guatemala...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 1 Singapore...6. 8 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Rwanda...4. 3 74 Montenegro...
RANK COUNTRY/ECONOMY VALUE 1 United states...34,115. 8 2 China...14,163. 0 3 United kingdom...6, 725.3
RANK COUNTRY/ECONOMY VALUE 73 Jamaica...145.0 74 Angola...130.5 75 Hungary...127.8 76 Costa rica...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Switzerland...6. 8 2 Hong kong SAR...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Russian Federation...4. 8 74 Sri lanka...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...238.7 2 Gabon...214.8 3 Kuwait...190.3 4 Kazakhstan...
RANK COUNTRY/ECONOMY VALUE 73 Belgium...110.9 74 Namibia...110.2 75 Slovenia...110.2 76 Ghana...
RANK COUNTRY/ECONOMY VALUE 1 Taiwan, China...71.2 2 Hong kong SAR...63.0 3 Korea, Rep...61.6
RANK COUNTRY/ECONOMY VALUE 73 Malaysia...15.3 74 Panama...15.2 75 Kuwait...15.1 76 El salvador...
Macroeconomic environment Data Tables  2014 World Economic Forum RANK COUNTRY/ECONOMY VALUE 1 Timor-Leste...
36.1 2 Kuwait...28.9 3 Qatar...11.1 4 Norway...11.1 5 United arab emirates...10.1 6 Saudi arabia...
RANK COUNTRY/ECONOMY VALUE 73 Slovak Republic...†3. 0 74 Canada...†3. 0
RANK COUNTRY/ECONOMY VALUE 1 Timor-Leste1...63.1 2 Qatar...58.4 3 Kuwait...55.2 4 Algeria...
RANK COUNTRY/ECONOMY VALUE 73 Lithuania...19.3 74 Madagascar...19.2 75 Spain...18.9 76 Myanmar...
RANK COUNTRY/ECONOMY VALUE 1 Ireland...0. 5 1 El salvador...0. 8 1 Denmark...0. 8
RANK COUNTRY/ECONOMY VALUE 86 Hong kong SAR...4. 3 87 Seychelles...4. 3 88 Guatemala...
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
RANK COUNTRY/ECONOMY VALUE 1 Libya...0. 0 2 Saudi arabia...2. 7 3 Kuwait...5. 3
RANK COUNTRY/ECONOMY VALUE 73 Mozambique...43.3 74 Bahrain...43.9 75 Tunisia...44.4 76 Denmark...
RANK COUNTRY/ECONOMY VALUE 1 Norway...94.8 2 Switzerland...94.2 3 Canada...93.1 4 Germany...
RANK COUNTRY/ECONOMY VALUE 73 Tunisia...44.4 74 Guatemala...44.4 75 Gabon...43.1 76 Jordan...
RANK COUNTRY/ECONOMY VALUE 1 Egypt...0. 0 1 Georgia...0. 0 1 Kyrgyz Republic...
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, for which
S l. means the economy was added to the WHO€ s supplementary list of areas where malaria has existed never or has
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7 1 Egypt...6. 8 2 Argentina...
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
RANK COUNTRY/ECONOMY VALUE 1 Barbados...1. 6 2 United arab emirates...1. 7 3 Puerto rico...2. 2
RANK COUNTRY/ECONOMY VALUE 73 Singapore...50.0 74 Armenia...52.0 75 Latvia...53.0 76 Burkina faso...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 4 7 1 Finland...7. 0 2 Norway...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 4 7 73 Tunisia...5. 6 74 Iran, Islamic Rep...5. 6
RANK COUNTRY/ECONOMY VALUE 1 Albania1...0. 2 1 Algeria3...0. 1 1 Armenia...0. 2
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,
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 3 7 1 Egypt...6. 9 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 3 7 73 Czech republic...5. 5 74 Cape verde...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...1. 6 2 Luxembourg...1. 7 3 Iceland...
RANK COUNTRY/ECONOMY VALUE 73 Jamaica...14.4 74 Armenia...14.7 75 Albania...15.0 76 Colombia...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...83.5 2 Japan...83.1 3 Italy...82.9 4 Iceland...
RANK COUNTRY/ECONOMY VALUE 73 Lithuania...73.9 74 Latvia...73.8 75 Colombia...73.8 76 Iran, Islamic Rep...73.8
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 Finland...6. 7 2 Belgium...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Oman...3. 8 74 Greece...
RANK COUNTRY/ECONOMY VALUE 1 Singapore...100.0 2 Canada2...99.9 3 Japan...99.9 4 China...
RANK COUNTRY/ECONOMY VALUE 73 Peru9...93.7 74 Zambia...93.7 75 Hong kong SAR...93.5 76 El salvador...
RANK COUNTRY/ECONOMY VALUE 1 Australia...135.5 2 Spain...130.8 3 Netherlands...129.9 4 Denmark...
RANK COUNTRY/ECONOMY VALUE 73 Hong kong SAR...88.7 74 Jamaica11...88.6 75 Moldova...88.2 76 Kyrgyz Republic11...
RANK COUNTRY/ECONOMY VALUE 1 Greece11...114.0 2 Korea, Rep...98.4 3 United states...94.3 4 Finland...
RANK COUNTRY/ECONOMY VALUE 73 Tunisia...35.2 74 Paraguay10...34.5 75 Dominican Republic11...34.1 76 Bahrain...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 1 Switzerland...6. 0 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Korea, Rep...3. 6 74 Ethiopia...
How well does the education system in your country meet the needs of a competitive economy?
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Singapore...6. 3 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Saudi arabia...4. 1 74 Czech republic...
5. 04 Quality of math and science education In your country, how would you assess the quality of math and science education?
1=extremely poor†among the worst in the world; 7=excellent†among the best in
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Switzerland...6. 2 2 Belgium...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Korea, Rep...4. 2 74 Romania...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 1 Iceland...6. 7 2 Estonia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Montenegro...4. 2 74 Seychelles...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Switzerland...6. 5 2 Netherlands...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Saudi arabia...4. 1 74 Dominican republic...
5. 07 Local availability of specialized research and training services In your country, to what extent are specialized high-quality
training services available? 1=not available at all; 7=widely available 2013†14 weighted average SOURCE:
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Switzerland...5. 7 2 Japan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Mongolia...4. 0 74 Mexico...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 0 7 1 Japan...6. 4 2 Taiwan, China...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 5. 0 7 73 Oman...5. 0 74 Russian Federation...
6. 01 Intensity of local competition In your country, how intense is competition in the local markets?
1=not intense at all; 7=extremely intense 2013†14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Switzerland...6. 0 2 Japan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Tajikistan...3. 7 74 Slovenia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 Finland...5. 6 2 Netherlands...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Barbados...4. 0 74 Cambodia...
In your country, to what extent does antimonopoly policy promote competition? 1=does not promote competition; 7=effectively promotes competition 2013†14
weighted average SOURCE: World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report
2. 2: Data Tables 468 The Global Competitiveness Report 2014†2015  2014 World Economic Forum
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Bahrain...6. 5 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Barbados...3. 7 74 Australia...
RANK COUNTRY/ECONOMY VALUE 1 Macedonia, FYR...8. 2 2 Timor-Leste...11.0 3 Qatar...
RANK COUNTRY/ECONOMY VALUE 73 Armenia...38.8 74 Honduras...39.2 75 Netherlands...39.3 76 Finland...
This variable is a combination of profit tax(%of profits), labor tax and contribution(%of profits),
and other taxes(%of profits) 2013 SOURCE: World bank/International finance corporation, Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises
2. 2: Data Tables 470 The Global Competitiveness Report 2014†2015  2014 World Economic Forum
RANK COUNTRY/ECONOMY VALUE 1 Canada...1 1 New zealand...1 3 Armenia...2 3 Georgia...2
3 Kyrgyz Republic...2 3 Macedonia, FYR...2 3 Madagascar...2 3 Rwanda...2 3 Slovenia...
RANK COUNTRY/ECONOMY VALUE 57 Ukraine...6 57 United arab emirates...6 57 United kingdom...6 57 United states...
Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables The Global Competitiveness Report 2014†2015 471
RANK COUNTRY/ECONOMY VALUE 1 New zealand...0. 5 2 Georgia...2. 0 2 Macedonia, FYR...
RANK COUNTRY/ECONOMY VALUE 69 Israel...14.0 74 Germany...14.5 75 Cameroon...15.0 75 Colombia...
Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables 472 The Global Competitiveness Report 2014†2015
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 New zealand...6. 1 2 Malaysia...
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
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 1 Hong kong SAR...5. 5 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Macedonia, FYR...4. 4 74 Guyana...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR8...0. 0 1 Libya1...0. 0 3 Singapore8...
RANK COUNTRY/ECONOMY VALUE 73 Tajikistan...5. 7 74 Haiti8...5. 8 75 Botswana8...5. 9
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Luxembourg...6. 3 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Senegal...4. 5 74 Trinidad and tobago...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 1 Ireland...6. 6 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 3 7 73 Jordan...4. 4 74 Montenegro...
or discourage foreign direct investment (FDI)? 1=strongly discourage fdi; 7=strongly encourage fdi 2013†14 weighted average
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 Singapore...6. 1 2 Hong kong SAR...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Peru...4. 0 74 Thailand...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...249.1 2 Singapore...167.5 3 Lesotho2...127.4 4 Luxembourg...
RANK COUNTRY/ECONOMY VALUE 73 Bahrain2...47.1 74 Poland...45.9 75 Kenya2...45.5 76 Tanzania...
Imports of goods and services as a percentage of gross domestic product 2013 or most recent year available
Time series on Merchandise and Commercial Services (accessed July 02,2014; International monetary fund, World Economic Outlook Database (April 2014 edition;
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Japan...6. 3 2 Switzerland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Ghana...4. 5 74 Madagascar...
In your country, how well do companies treat customers? 1=indifferent to customer satisfaction; 7=highly responsive to customers and seek customer retention
2013†14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey. For more details, refer to Chapter 1. 3 of this Report
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 1 Japan...5. 3 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Ukraine...3. 4 74 Zambia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 1 Switzerland...6. 2 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Guyana...4. 3 74 Cambodia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 9 7 1 Estonia...6. 2 2 Uganda...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 9 7 73 Jordan...5. 0 74 Ethiopia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Hong kong SAR...5. 7 2 Switzerland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Tanzania...3. 9 74 Honduras...3. 9
RANK COUNTRY/ECONOMY VALUE 1 Denmark...0. 0 1 New zealand...0. 0 1 Puerto rico...0. 0
RANK COUNTRY/ECONOMY VALUE 73 Brazil...15.4 74 Tajikistan...15.5 75 India...15.8 76 Burundi...
Understanding Regulations for Small and Medium-Size Enterprises; World Economic Forum†s calculations 2. 2:
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 1 Bahrain...6. 3 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Finland...3. 6 74 Uganda...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 Hong kong SAR...5. 5 2 Malaysia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Finland...3. 9 74 Montenegro...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 New zealand...6. 5 2 Norway...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Portugal...4. 2 74 Slovak Republic...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 1 Switzerland...5. 8 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Mozambique...3. 4 74 Colombia...
1=the best and brightest leave to pursue opportunities in other countries; 7=the best and brightest stay and pursue
opportunities in the country 2013†14 weighted average SOURCE: World Economic Forum, Executive Opinion Survey.
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 1 Switzerland...6. 1 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Lao PDR...3. 4 74 Vietnam...
RANK COUNTRY/ECONOMY VALUE 1 Malawi...1. 05 2 Mozambique...1. 04 3 Rwanda...1. 02
RANK COUNTRY/ECONOMY VALUE 73 Slovak Republic...0. 80 74 Czech republic...0. 80 75 Peru...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Switzerland...6. 5 2 Luxembourg...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Mexico...4. 3 74 Zambia...
In your country, to what extent does the financial sector provide a wide range of financial products and services to businesses?
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 Switzerland...6. 1 2 Luxembourg...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 India...4. 1 74 Nepal...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 1 Hong kong SAR...5. 7 2 Taiwan, China...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 4 7 73 Rwanda...3. 4 74 Macedonia, FYR...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 9 7 1 Qatar...5. 1 2 Malaysia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 9 7 73 Puerto rico...2. 8 74 Iceland...
In your country, how easy is it to obtain a bank loan with only a good business plan and no collateral?
RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 8 7 1 Qatar...4. 8 2 Malaysia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 2. 8 7 73 Lithuania...2. 7 74 Swaziland...
8. 05 Venture capital availability In your country, how easy is it for entrepreneurs with innovative
but risky projects to find venture capital? 1=extremely difficult; 7=extremely easy 2013†14 weighted
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 1 Canada...6. 7 2 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 Hungary...4. 8 74 Malawi...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 1 South africa...6. 4 2 Finland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 1 7 73 Rwanda...4. 0 74 Malawi...
RANK COUNTRY/ECONOMY VALUE 1 Australia...10 1 Hong kong SAR...10 1 Kenya...10 1 Kyrgyz Republic...
RANK COUNTRY/ECONOMY VALUE 63 Gabon...6 63 Guinea...6 63 Lesotho...6 63 Mali...
Understanding Regulations for Small and Medium-Size Enterprises 2. 2: Data Tables The Global Competitiveness Report 2014†2015 503
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 1 Finland...6. 6 2 United states...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 8 7 73 Gambia, The...4. 8 74 Thailand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7 1 Iceland...6. 2 2 Japan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 7 7 73 CÃ'te d†Ivoire...4. 6
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Ireland...6. 4 2 Singapore...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Korea, Rep...4. 6 74 Senegal...
To what extent does foreign direct investment (FDI) bring new technology into your country? 1=not at all; 7=to a great extent†FDI is a key source of new technology
RANK COUNTRY/ECONOMY VALUE 1 Iceland...96.5 2 Norway...95.1 3 Sweden...94.8 4 Denmark...
RANK COUNTRY/ECONOMY VALUE 73 Costa rica...46.0 74 Dominican republic...45.9 75 China...45.8 76 Jordan...
RANK COUNTRY/ECONOMY VALUE 1 Switzerland...43.0 2 Denmark...40.2 3 Netherlands...40.1 4 France...
RANK COUNTRY/ECONOMY VALUE 73 Saudi arabia...7. 3 74 Venezuela...7. 3 75 Suriname...6. 9
RANK COUNTRY/ECONOMY VALUE 1 Luxembourg...6, 445.8 2 Hong kong SAR...1, 762.8 3 Malta...
RANK COUNTRY/ECONOMY VALUE 73 Myanmar...26.2 74 Bahrain...25.9 75 Hungary...24.9 76 Mauritius...24.4
RANK COUNTRY/ECONOMY VALUE 1 Singapore...135.1 2 Finland...123.5 3 Japan...120.5 4 Australia...
RANK COUNTRY/ECONOMY VALUE 73 Panama...25.2 74 South Africa2...25.2 75 Albania...24.7 76 Montenegro...
RANK COUNTRY/ECONOMY VALUE 1 United states...7. 0 2 China...6. 8 3 India...6. 2
RANK COUNTRY/ECONOMY VALUE 73 Serbia...3. 4 74 Kuwait...3. 4 75 Azerbaijan...3. 4
Sum of gross domestic product plus value of imports of goods and services, minus value of exports of goods and services, normalized on a 1†7 (best) scale 2013
RANK COUNTRY/ECONOMY VALUE 1 China...7. 0 2 United states...6. 7 3 Germany...6. 5
RANK COUNTRY/ECONOMY VALUE 73 Panama...4. 4 74 Serbia...4. 4 75 Croatia...4. 3
Value of exports of goods and services, normalized on a 1†7 (best) scale 2013
RANK COUNTRY/ECONOMY VALUE 1 United states...16,799. 7 2 China...13,395. 4 3 India...5, 069.2
RANK COUNTRY/ECONOMY VALUE 73 Guatemala...81.8 74 Serbia...81.1 75 Kenya...80.4 76 Tanzania...
RANK COUNTRY/ECONOMY VALUE 1 Hong kong SAR...245.0 2 Singapore...178.1 3 Luxembourg...164.3 4 Belgium...
RANK COUNTRY/ECONOMY VALUE 73 Chad2...37.3 74 Ghana...36.7 75 Cape verde...36.5 76 Georgia...36.3
Exports of goods and services as a percentage of gross domestic product 2013 or most recent year available
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 1 Japan...6. 3 2 Germany...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 5 7 73 Slovenia...4. 6 74 New zealand...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 1 Japan...6. 2 2 Switzerland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 4 7 73 Jamaica...4. 4 74 Senegal...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Italy...5. 6 2 Taiwan, China...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Gambia, The...3. 8 74 Barbados...
In your country, how widespread are developed well and deep clusters (geographic concentrations of firms, suppliers, producers of related products and services, and
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 1 Japan...6. 4 2 Switzerland...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Colombia...3. 4 74 Senegal...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 Japan...6. 1 2 Germany...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Greece...3. 7 74 Gambia, The...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Japan...5. 6 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Russian Federation...4. 0 74 Guyana...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Switzerland...6. 4 2 Japan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Macedonia, FYR...3. 8 74 Zambia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 1 United states...6. 2 2 United kingdom...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 2 7 73 Senegal...4. 1 74 Pakistan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Denmark...6. 1 2 Norway...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Chile...3. 7 74 Panama...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 1 Switzerland...5. 9 2 United states...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 9 7 73 Nigeria...3. 7 74 Dominican republic...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 1 Switzerland...6. 4 2 United kingdom...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 8 7 73 Ghana...3. 7 74 Uruguay...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7 1 Switzerland...5. 9 2 Japan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 3 7 73 Albania...3. 1 74 Latvia...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 1 Finland...6. 0 2 United states...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 7 7 73 Poland...3. 5 74 Ukraine...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 1 Qatar...5. 7 2 United arab emirates...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 3. 5 7 73 Australia...3. 4 74 Kazakhstan...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 1 Finland...6. 2 2 Qatar...
RANK COUNTRY/ECONOMY VALUE 1 MEAN 4. 0 7 73 Mongolia...4. 0 74 Rwanda...
RANK COUNTRY/ECONOMY VALUE 1 Switzerland...315.0 2 Japan...308.2 3 Sweden...300.8 4 Finland...
RANK COUNTRY/ECONOMY VALUE 73 Moldova...0. 8 74 Jamaica...0. 6 75 Azerbaijan...0. 6
efficient in providing goods and services 2013†14 weighted average Source: World Economic Forum, Executive Opinion Survey
1. 16 Reliability of police services In your country, to what extent can police services be relied upon to enforce law and order?
1=cannot be relied upon at all; 7=can be relied completely upon 2013†14 weighted average Source:
shareholders protected by the legal system? 1=not protected at all; 7=fully protected 2013†14 weighted average
and the Ease of shareholder suit index shareholders†ability to sue officers and directors for misconduct
and Medium-Size Enterprises Pillar 2: Infrastructure 2. 01 Quality of overall infrastructure How would you assess general infrastructure (e g.,
This indicator does not apply to economies where there is no regular train service or where the network covers only a negligible
data services, private trunked mobile radio, telepoint or radio paging, and telemetry services are excluded also.
It includes all mobile cellular subscriptions that offer voice communications Source: International Telecommunication Union, ITU World
Telecommunication/ICT Indicators Database 2014 (June 2014 edition 2. 09 Fixed telephone lines Number of active fixed telephone lines per 100 population
Macroeconomic environment 3. 01 Government budget balance General government budget balance as a percentage of GDP
resources at the disposal of other sectors in the economy and nonresidents (net lending), or utilizing the financial resources
impact of general government activity on the rest of the economy and nonresidents. Revenue consists of taxes, social contributions
equals gross domestic investment plus the current-account balance Sources: International monetary fund, World Economic Outlook Database (April 2014 edition;
3. 03 Inflation Annual percent change in consumer price index (year average 2013 For inflation rates 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
except for equity and investment fund shares, financial derivatives, and employee stock options. For Australia, Belgium
economists and sovereign-debt analysts at leading global banks and money management and security firms.
malaria in the economy per 100,000 population. M. F. and S l indicate respectively that the World health organization (WHO
This indicator does not apply to economies considered free of malaria or included in the World Health Organization†s
the needs of a competitive economy? 1=not well at all 7=extremely well 2013†14 weighted average
5. 04 Quality of math and science education In your country, how would you assess the quality of math
and science education? 1=extremely poor†among the worst in the world; 7=excellent†among the best in the world
services In your country, to what extent are specialized high-quality training services available? 1=not available at all; 7=widely
available 2013†14 weighted average Source: World Economic Forum, Executive Opinion Survey 5. 08 Extent of staff training
6. 01 Intensity of local competition In your country, how intense is competition in the local
markets? 1=not intense at all; 7=extremely intense 2013†14 weighted average Source: World Economic Forum, Executive Opinion Survey
promote competition? 1=does not promote competition 7=effectively promotes competition 2013†14 weighted average
Source: World Economic Forum, Executive Opinion Survey 6. 04 Effect of taxation on incentives to invest
In your country, to what extent do taxes reduce the incentive to invest? 1=significantly reduce the incentive to invest
This indicator is a combination of profit tax(%of profits labor tax and contribution(%of profits),
and other taxes(%of profits) 2013 The total tax rate measures the amount of taxes and mandatory
contributions payable by a business in the second year of operation, expressed as a share of commercial profits.
The total amount of taxes is the sum of five different types of taxes and contributions payable after accounting for deductions
profit or corporate income tax, social contributions and labor taxes paid by the employer, property taxes, turnover taxes,
Medium-Size Enterprises 6. 06 Number of procedures required to start a business Number of procedures required to start a business 2013
Medium-Size Enterprises 6. 07 Time required to start a business Number of days required to start a business 2013
Medium-Size Enterprises  2014 World Economic Forum Technical Notes and Sources 542 The Global Competitiveness Report 2014†2015
1=excessively burdensome for the economy; 7=balances well the interests of taxpayers, consumers and producers
encourage or discourage foreign direct investment (FDI 1=strongly discourage FDI; 7=strongly encourage FDI
Imports of goods and services as a percentage of gross domestic product 2013 Total imports is the sum of total imports of merchandise and
commercial services Sources: World trade organization, Statistical Database: Time Series on Merchandise and Commercial Services (accessed July
02,2014; International monetary fund, World Economic Outlook Database (April 2014 edition; national sources 6. 15 Degree of customer orientation
In your country, how well do companies treat customers 1=indifferent to customer satisfaction; 7=highly responsive
to customers and seek customer retention 2013†14 weighted average Source: World Economic Forum, Executive Opinion Survey
Medium-Size Enterprises; World Economic Forum†s calculations 7. 05 Effect of taxation on incentives to work
brightest leave to pursue opportunities in other countries 7=the best and brightest stay and pursue opportunities in the
country 2013†14 weighted average Source: World Economic Forum, Executive Opinion Survey For more details, refer to Chapter 1. 3 of this Report
provide a wide range of financial products and services to businesses? 1=not at all; 7=provides a wide variety
a good business plan and no collateral? 1=extremely difficult 7=extremely easy 2013†14 weighted average
8. 05 Venture capital availability In your country, how easy is it for entrepreneurs with innovative
but risky projects to find venture capital? 1=extremely difficult; 7=extremely easy 2013†14 weighted average
Medium-Size Enterprises Pillar 9: Technological readiness 9. 01 Availability of latest technologies In your country, to what extent are the latest technologies
To what extent does foreign direct investment (FDI) bring new technology into your country? 1=not at all; 7=to a great
and services, minus value of exports of goods and services normalized on a 1†7 (best) scale 2013
the total value (PPP estimates) of imports of goods and services minus the total value (PPP estimates) of exports of goods and
services. Data are normalized then on a 1†7 scale. PPP estimates of imports and exports are obtained by taking the product of
Value of exports of goods and services, normalized on a 1†7 best) scale 2013
the total value (PPP estimates) of exports of goods and services normalized on a 1†7 scale.
Exports of goods and services as a percentage of gross domestic product 2013 Total exports is the sum of total exports of merchandise and
commercial services Sources: World trade organization, Online Statistics Database accessed June 18, 2014; International monetary fund, World Economic Outlook Database (April 2014 edition;
producers of related products and services, and specialized institutions in a particular field? 1=nonexistent;
and Hong kong SAR, two advanced economies that are not signatories of the Treaty, the number of applications is estimated
computation of the two averages, only economies with a two-year average number of at least 100 USPTO applications and 50 PCT
respective Innovation pillar scores of the two economies Sources: Organisation for Economic Co-operation and
Senior Economist with The Global Competitiveness and Benchmarking Network at the World Economic Forum. In this capacity, he carries out research on
role of innovation and information and communication technologies in fostering competitiveness, and is co -editor of The Global Information technology Report
Bilbao-Osorio holds a degree in Economics from the Universidad Comercial de Deusto (Spain), a Master in
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
forecasting, and development economics. Prior to joining the Forum, he worked as an Analyst in the private
five-year degree in Economics/Economic policy from Universitã 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
investment flows, and financial stability. Prior to joining the Forum, he worked at the International Trade Centre
Economics from the Graduate Institute of International and Development Studies in Geneva, where he conducted
for foreign direct investments, focusing on the role of institutions and economic geography  2014 World Economic Forum
Economist, and Head of The Global Competitiveness and Benchmarking Network at the World Economic Forum.
Drzeniek Hanouz received a Diploma in Economics from the University of MÃ nster and holds a Phd in International
Economics from the University of Bochum, both in Germany Caroline Galvan Caroline Galvan is an Economist and Senior Manager with
The Global Competitiveness and Benchmarking Network at the World Economic Forum. She researches and writes
an economic policy consultancy in the United kingdom where she analyzed economic and financial policies in Central and Eastern europe and Central asia.
Economics from the University of Groningen and an MSC in Economics and Finance from the University of Tilburg
both in The netherlands Thierry Geiger Thierry Geiger is an Associate Director and Senior Economist with The Global Competitiveness and
Benchmarking Network at the World Economic Forum He leads the competitiveness practice on Asia. As head
Mr Geiger holds a BA in Economics from the University of Geneva, an MA in Economics from the University of
British columbia, and was a Fellow of the Forum†s Global Leadership Programme. Prior to joining the Forum, he
the challenges of inclusive social and economic growth built relationships with C-suite executives of partner
Economics at Columbia University. He was previously an Associate professor at the Department of economics at Yale university and a Visiting professor at Universitat
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. Professor Sala-i-Martã n is a Research
He earned his MA and Phd, both in Economics, from Harvard university. He collaborates closely with the World
Nations Environment Programme Finance Initiative (UNEP FI), where she was responsible for organizing the bi -annual Global Roundtable on Sustainable Finance.
Economics and Political science (UK Â 2014 World Economic Forum World Economic Forum 91-93 route de la Capite
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
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
stakeholders in establishing a collaborative approach and identifying assets on which they can build as well as areas of concern that need to be addressed
of competitiveness indicators for 144 economies. The data used in the Report are obtained from leading international sources as well as from the World Economic Forum†s annual
weaknesses for each of the 144 economies featured, as well as an extensive section of data tables displaying relative rankings for more than 100 variables
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