Synopsis: Entrepreneurship: Economics:

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

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

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

David O†Rear, Chief Economist Federation of Hong kong Industries Alexandra Poon, Director Hungary KOPINT-Tà RKI Economic Research Ltd

Conor Hand, Economist Israel Manufacturers Association of Israel (MAI Dan Catarivas, Foreign Trade & International Relations Director

Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao PDR Enterprise & Development Consultants Co.,Ltd

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

Ministry of the Economy Adolfo Cimadevilla Cervera, Technical Secretary for Competitiveness Sergio Merino Gonzã¡lez, Deputy General Director

Oyunbadam Davaakhuu, Manager of Economic policy Erdenejargal Perenlei, Executive director Montenegro Institute for Strategic Studies and Prognoses (ISSP

Foundation for the Advancement of Economics (FREN Aleksandar Radivojevic, Project Coordinator Svetozar Tanaskovic, Researcher Jelena Zarkovic Rakic, Director

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

Vladimir Dubrovskiy, Leading Economist United arab emirates Department of Economic Development†Abu dhabi Competitiveness Office of Abu dhabi (COAD

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

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

and environmental dimensions of an economy need to be considered fully in any growth or development

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

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

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

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

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

the level of productivity of economies. In order to achieve higher levels of productivity, new actions in

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

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

this process has occupied the minds of economists for hundreds of years, engendering theories ranging from Adam Smith†s focus on specialization and the

of an economy The components are grouped into 12 pillars of competitiveness First pillar: Institutions The institutional environment is determined by the legal

level and for the economies of many countries The quality of institutions has a strong bearing on

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;

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

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;

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

less-developed communities to core economic activities and services Effective modes of transport†including quality roads, railroads, ports,

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

that macroeconomic disarray harms the economy, as we have seen in recent years, conspicuously in the

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

economies, notably the United states and some European countries, needed to take urgent action to prevent macroeconomic instability when their public debt

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

be traded most effectively in the economy. Healthy market competition, both domestic and foreign, is important in driving market efficiency, and thus business

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.

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

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

Therefore economies require sophisticated financial markets that can make capital available for private-sector investment from such sources as loans from a sound

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

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

sophisticated products) spill over into the economy and lead to sophisticated and modern business processes across the country†s business sectors

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

Innovation is particularly important for economies as they approach the frontiers of knowledge, and the possibility

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

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

or commodities, with their low productivity reflected in low wages. Maintaining competitiveness at this stage

pillars that are more relevant for an economy given its particular stage of development. That is, although all

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

competitiveness and prosperity in an economy, and that can stimulate a constructive dialogue to catalyze the

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

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

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

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

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

to downgrade the outlook of this Nordic economy More precisely, Finland suffers from higher, though

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

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

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

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

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

support a structural change of the Greek economy so that it can move toward more productive, knowledge

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

economies, common challenges include addressing the huge infrastructure deficit and improving regional connectivity; reducing red tape, which will promote

Asian economies. Malaysia advances nine positions in the institutions pillar, which largely drives this year†s

knowledge-based economy by the end of the decade Amid this largely positive assessment, the government

continues to lead the BRICS economies by a wide margin†well ahead of Russia (53rd), South africa (56th

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

advanced economies. China must now create the high -value jobs that will sustain the increasing standards of

budget and reduced inflation to 2 percent. Public debt remained stable and the savings rate was high.

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

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.

into the formal economy. Some estimates find that the informal sector accounts for half of India†s economic output

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:

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

percent of the economy. Most services jobs are low-skilled and poorly paid ones, though.

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

of the local economies of the region to move toward more productive sectors and thus, higher levels of

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

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

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

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

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

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

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

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

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

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

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;

to further diversify its economy and create sufficient number of jobs for the growing workforce. Overall

among the Gulf Cooperation Council (GCC) economies 20th). ) Yet Saudi arabia also faces important challenges going forward.

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

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.

further efficiency gains in its domestic economy and facilitate the transfer of knowledge and technology.

The economy is expected to stabilize after two difficult years, mainly driven by external developments. This steadier economic

country†s economic growth in the shorter as well as longer terms After dropping for several years in a row, Egypt

to energizing the economy by providing access to new entrants. This, in turn, would make the country†s private

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

economies. South africa does well on measures of the quality of its institutions (36th), including intellectual

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

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

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

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.

and inflation is over 11 percent. With regard to strengths, public institutions are characterized by relatively high government efficiency

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

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

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

Fortunately, stakeholders are increasingly acknowledging the need to address this disconnect between public-and private-sector actions.

effective collaborations, stakeholders must be able to count on clear targets and evaluation frameworks, the parties must

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

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

The Informal Economy. †India Market Strategy. July 9. Available at https://www. credit-suisse com/newsletter/doc/apac/aic2013/20130712 indiamkt. pdf

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?

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

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:

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

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

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

*3. 03 Inflation*f 3. 04 Government debt *3. 05 Country credit rating *4th pillar: Health and primary education...

%*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,

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

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

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

Clã ment Gignac, Chief Economist and Senior Vice -President, Industrial Alliance Insurance and Financial Services, Canada

Economy, Indonesia Lindene Patton, Chief Climate Product Officer, Zurich Financial services, Switzerland Anthony O†Sullivan, Head Private Sector Development

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

must face higher prices for commodities used as inputs of production. And third, as consumers become more

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

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

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

7 The Economist 2014 8 World Economic Forum 2014 9 World bank and the Development Research center of the State

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

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

a key driver of economic growth, especially in developing countries, because it provides the basis for many innovations in areas such as

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

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

is about both the pace and pattern of economic growth. 6 The World Economic Forum†s Global Project on Inclusive

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

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

a functioning economy that, by definition, uses natural resources. For this reason, although the academic

offset by fiscal policies An additional link between energy, environment and social sustainability is the use of particular

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

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

ideas, thus benefitting the economy A third category can be thought of as an assessment of social cohesion and includes the following

•Extent of informal economy •Social safety net protection •Income Gini index •Social mobility

Baseline water stress in an economy, which models the relation between water supply availability and demand

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

other economies  2014 World Economic Forum The Global Competitiveness Report 2014†2015 71 1. 2:

economies. On a positive note, it seems that the country has made progress in forest stewardship

economy, and the limited coverage of its social safety net Colombia†s competitiveness is reduced again this

informal economy and its lack of a universal social safety net show that India remains largely a poor country that is

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

than other African economies, however. Its income Gini index is 40. 3†better than that of Ghana or Kenya.

These issues, typical of a developing economy may jeopardize the future competitiveness of the country as they limit the country†s human capital.

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

-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

economies has revived concerns about â€oesecular stagnation, †with Lawrence Summers envisaging that even before the financial crisis

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

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

Effects of a Carbon Tax on the Economy and the Environment. May, Pub. No. 4532.

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

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:

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

†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:

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

S07 Extent of informal economy S08 Social mobility S09 Vulnerable employment *Environmental sustainability pillar S10 Stringency of environmental regulations e

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

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

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

the competitiveness conditions of their economies. The full list of Partner Institutes can be found at the beginning

Country/economy coverage of the Executive Opinion Survey n Previous coverage n 2014 additions  2014 World Economic Forum

*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:

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

SMES) account for a large share of economic activities in most countries, the Survey aims to collect the opinion

in Advanced Economies and Emerging and Developing Asia and for 48 percent in Sub-saharan africa, also reflecting the

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

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

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

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

For those economies ranked from 11 through 50 in the overall GCI, variables ranked higher

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*..

3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*70.5.113

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

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*..

3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*70.5.113

Country/Economy Profiles 106 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*3. 3...66 3. 04 General government debt,%GDP*..*9. 2...5

Country/Economy Profiles 108 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*8. 8...130 3. 04 General government debt,%GDP*..*26.6.29

Country/Economy Profiles 110 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*10.6.138 3. 04 General government debt,%GDP*..*46.9.81 3. 05 Country credit rating, 0†100 (best*..

Country/Economy Profiles 112 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*5. 8...104 3. 04 General government debt,%GDP*..*41.9.69

Country/Economy Profiles 114 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 5...1 3. 04 General government debt,%GDP*..*28.8.31

Country/Economy Profiles 116 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*74.2.116

Country/Economy Profiles 118 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..*13.8.12

Country/Economy Profiles 120 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*3. 3...67 3. 04 General government debt,%GDP*..*43.9.74

Country/Economy Profiles 122 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*7. 5...123 3. 04 General government debt,%GDP*..*39.7.62

Country/Economy Profiles 124 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 3...1 3. 04 General government debt,%GDP*..*92.0.128

Country/Economy Profiles 126 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..*99.8.132

Country/Economy Profiles 128 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*8. 7...129 3. 04 General government debt,%GDP*..*110.7.135

Country/Economy Profiles 130 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...0. 9 Crime and theft...0. 8 Poor public health...0. 1 Bolivia Bolivia Latin america and the Caribbean

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3. 03 Inflation, annual%change*..*5. 7...101 3. 04 General government debt,%GDP*..*33.1.45

Country/Economy Profiles 132 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*5. 8...103 3. 04 General government debt,%GDP*..*15.9.14

Country/Economy Profiles 134 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*6. 2...110 3. 04 General government debt,%GDP*..*66.3.109

Country/Economy Profiles 136 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 4...60 3. 04 General government debt,%GDP*..*17.6.15

Country/Economy Profiles 138 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..*33.3.46

Country/Economy Profiles 140 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*8. 8...131 3. 04 General government debt,%GDP*..*31.7.40

Country/Economy Profiles 142 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*3. 0...58 3. 04 General government debt,%GDP*..*28.1.30

Country/Economy Profiles 144 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*18.6.16

Country/Economy Profiles 146 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*89.1.124

Country/Economy Profiles 148 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*95.0.131

Country/Economy Profiles 150 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*0. 2...65 3. 04 General government debt,%GDP*..*30.2.36

Country/Economy Profiles 152 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 8...1 3. 04 General government debt,%GDP*..*12.2.8

Country/Economy Profiles 154 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*22.4.22

Country/Economy Profiles 156 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 0...1 3. 04 General government debt,%GDP*..*31.8.42

Country/Economy Profiles 158 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*5. 2...94 3. 04 General government debt,%GDP*..*37.0.56

Country/Economy Profiles 160 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*43.2.72

Country/Economy Profiles 162 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*59.8.99

Country/Economy Profiles 164 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 4...61 3. 04 General government debt,%GDP*..*112.0.136

Country/Economy Profiles 166 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 4...1 3. 04 General government debt,%GDP*..*47.9.83

Country/Economy Profiles 168 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*45.2.76

Country/Economy Profiles 170 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*4. 8...90 3. 04 General government debt,%GDP*..*33.8.47

Country/Economy Profiles 172 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*6. 9...118 3. 04 General government debt,%GDP*..*89.2.125

Country/Economy Profiles 174 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*54.9.92

Country/Economy Profiles 176 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*3. 5...73 3. 04 General government debt,%GDP*..*11.3.7

Country/Economy Profiles 178 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...7. 1 Tax rates...6. 9 Poor work ethic in national labor force...6. 0 Tax regulations...

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3. 03 Inflation, annual%change*..*8. 0...126 3. 04 General government debt,%GDP*..*22.2.21

Country/Economy Profiles 180 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*57.0.95

Country/Economy Profiles 182 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*93.9.129

Country/Economy Profiles 184 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 5...56 3. 04 General government debt,%GDP*..*22.9.24

Country/Economy Profiles 186 The Global Competitiveness Report 2014†2015 Percent of responses Rank Score

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

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3. 03 Inflation, annual%change*..*5. 2...95 3. 04 General government debt,%GDP*..*82.1.121

Country/Economy Profiles 188 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*†0. 5...78 3. 04 General government debt,%GDP*..

Country/Economy Profiles 190 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*78.1.118

Country/Economy Profiles 192 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...10.0 Corruption...6. 2 Poor work ethic in national labor force...5. 6 Inefficient government bureaucracy...

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3. 03 Inflation, annual%change*..*11.7.140 3. 04 General government debt,%GDP*..*60.1.100 3. 05 Country credit rating, 0†100 (best*..

Country/Economy Profiles 194 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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(*)

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3. 03 Inflation, annual%change*..*†0. 9...85 3. 04 General government debt,%GDP*..

Country/Economy Profiles 196 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*4. 3...88 3. 04 General government debt,%GDP*..*24.4.26

Country/Economy Profiles 198 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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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*..

Country/Economy Profiles 200 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*3. 5...70 3. 04 General government debt,%GDP*..*63.9.107

Country/Economy Profiles 202 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...1. 4 Tax regulations...1. 4 Foreign currency regulations...0. 8 Restrictive labor regulations...

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3. 03 Inflation, annual%change*..*6. 8...116 3. 04 General government debt,%GDP*..*21.3.20

Country/Economy Profiles 204 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*5. 2...92 3. 04 General government debt,%GDP*..*40.2.63

Country/Economy Profiles 206 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

3. 03 Inflation, annual%change*..*4. 3...86 3. 04 General government debt,%GDP*..*33.8.48

Country/Economy Profiles 208 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..*79.2.120

Country/Economy Profiles 210 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*3. 9...77 3. 04 General government debt,%GDP*..*90.2.127

Country/Economy Profiles 212 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*9. 5...133 3. 04 General government debt,%GDP*..*66.7.110

Country/Economy Profiles 214 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*6. 4...112 3. 04 General government debt,%GDP*..*26.1.27

Country/Economy Profiles 216 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...13.0 Inefficient government bureaucracy...11.5 Inadequate supply of infrastructure...10.6 Corruption...7. 9 Foreign currency regulations...

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3. 03 Inflation, annual%change*..*35.2.143 3. 04 General government debt,%GDP*..*10.6.6 3. 05 Country credit rating, 0†100 (best*..

Country/Economy Profiles 218 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 5...1 3. 04 General government debt,%GDP*..*122.8.137

Country/Economy Profiles 220 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*66.7.111

Country/Economy Profiles 222 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*132.5.139

Country/Economy Profiles 224 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...6. 7 Tax regulations...5. 2 Inadequately educated workforce...4. 4 Restrictive labor regulations...

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3. 03 Inflation, annual%change*..*9. 4...132 3. 04 General government debt,%GDP*..*138.9.140

Country/Economy Profiles 226 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 4...62 3. 04 General government debt,%GDP*..*243.2.143

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Inflation...5. 1 Crime and theft...3. 9 Foreign currency regulations...3. 6 Poor work ethic in national labor force...

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3. 03 Inflation, annual%change*..*5. 5...98 3. 04 General government debt,%GDP*..*87.7.123

Country/Economy Profiles 230 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...6. 9 Inadequately educated workforce...6. 8 Insufficient capacity to innovate...6. 1 Tax rates...

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3. 03 Inflation, annual%change*..*5. 8...107 3. 04 General government debt,%GDP*..*13.5.11

Country/Economy Profiles 232 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...6. 8 Policy instability...3. 5 Tax regulations...3. 3 Restrictive labor regulations...2. 9

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3. 03 Inflation, annual%change*..*5. 7...100 3. 04 General government debt,%GDP*..*50.5.88

Country/Economy Profiles 234 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*36.7.55

Country/Economy Profiles 236 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...0. 3 Tax rates...0. 0 Kuwait Kuwait Middle east, North africa, and Pakistan Factor driven Efficiency

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3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..*5. 3...3

Country/Economy Profiles 238 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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

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3. 03 Inflation, annual%change*..*6. 6...114 3. 04 General government debt,%GDP*..*47.7.82

Country/Economy Profiles 240 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...2. 6 Policy instability...2. 4 Poor public health...1. 7 Crime and theft...1. 6

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3. 03 Inflation, annual%change*..*6. 4...111 3. 04 General government debt,%GDP*..*62.0.102

Country/Economy Profiles 242 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*0. 0...68 3. 04 General government debt,%GDP*..*32.1.43

Country/Economy Profiles 244 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...3. 4 Poor work ethic in national labor force...3. 1 Inadequately educated workforce...2. 7

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3. 03 Inflation, annual%change*..*3. 2...64 3. 04 General government debt,%GDP*..*139.7.141

Country/Economy Profiles 246 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...1. 2 Tax regulations...0. 4 Lesotho Lesotho Sub-saharan africa Factor driven Efficiency driven Innovation

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3. 03 Inflation, annual%change*..*5. 3...96 3. 04 General government debt,%GDP*..*39.6.61

Country/Economy Profiles 248 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...0. 6 Tax regulations...0. 4 Tax rates...0. 2 Libya Libya Middle east, North africa, and Pakistan

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3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*0. 0...1

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Inflation...1. 1 Crime and theft...0. 8 Foreign currency regulations...0. 3 Poor public health...

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3. 03 Inflation, annual%change*..*1. 2...1 3. 04 General government debt,%GDP*..*39.3.60

Country/Economy Profiles 252 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 7...1 3. 04 General government debt,%GDP*..*22.9.23

Country/Economy Profiles 254 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 0 Macedonia, FYR Macedonia, FYR Emerging and Developing Europe Factor driven Efficiency driven

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3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..*35.8.52

Country/Economy Profiles 256 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...3. 2 Foreign currency regulations...1. 4 Poor work ethic in national labor force...1. 4

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3. 03 Inflation, annual%change*..*5. 8...106 3. 04 General government debt,%GDP*..*49.8.86

Country/Economy Profiles 258 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...9. 6 Tax rates...8. 8 Inefficient government bureaucracy...8. 2 Crime and theft...6. 7

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3. 03 Inflation, annual%change*..*27.7.142 3. 04 General government debt,%GDP*..*68.9.112 3. 05 Country credit rating, 0†100 (best*..

Country/Economy Profiles 260 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...6. 4 Policy instability...5. 9 Poor work ethic in national labor force...5. 8

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3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*58.2.97

Country/Economy Profiles 262 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...0. 8 Mali Mali Sub-saharan africa Factor driven Efficiency driven Innovation driven 1 Transition 1†2 2

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3. 03 Inflation, annual%change*..*†0. 6...79 3. 04 General government debt,%GDP*..

Country/Economy Profiles 264 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 0...1 3. 04 General government debt,%GDP*..*71.7.114

Country/Economy Profiles 266 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...3. 2 Crime and theft...2. 8 Tax rates...2. 8 Tax regulations...1. 9

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3. 03 Inflation, annual%change*..*4. 1...82 3. 04 General government debt,%GDP*..*87.7.122

Country/Economy Profiles 268 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...4. 7 Tax rates...2. 7 Policy instability...2. 5 Tax regulations...1. 7 Foreign currency regulations...

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3. 03 Inflation, annual%change*..*3. 5...71 3. 04 General government debt,%GDP*..*53.8.89

Country/Economy Profiles 270 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 1 Foreign currency regulations...0. 4 Poor public health...0. 4 Government instability/coups...

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3. 03 Inflation, annual%change*..*3. 8...76 3. 04 General government debt,%GDP*..*46.5.80

Country/Economy Profiles 272 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...3. 4 Poor work ethic in national labor force...2. 5 Insufficient capacity to innovate...

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3. 03 Inflation, annual%change*..*4. 6...89 3. 04 General government debt,%GDP*..*24.4.25

Country/Economy Profiles 274 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...9. 3 Policy instability...9. 1 Access to financing...8. 8 Corruption...8. 5

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3. 03 Inflation, annual%change*..*9. 6...134 3. 04 General government debt,%GDP*..*63.0.105

Country/Economy Profiles 276 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 2 Policy instability...1. 2 Poor public health...1. 1 Foreign currency regulations...0. 9

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3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*56.8.94

Country/Economy Profiles 278 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...0. 5 Crime and theft...0. 0 Government instability/coups...0. 0 Morocco Morocco Middle east, North africa, and Pakistan

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3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*61.9.101

Country/Economy Profiles 280 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...2. 0 Insufficient capacity to innovate...1. 8 Tax regulations...1. 2 Poor public health...

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3. 03 Inflation, annual%change*..*4. 2...83 3. 04 General government debt,%GDP*..*43.3.73

Country/Economy Profiles 282 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...4. 0 Government instability/coups...3. 8 Poor work ethic in national labor force...3. 8

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3. 03 Inflation, annual%change*..*5. 8...105 3. 04 General government debt,%GDP*..*42.7.71

Country/Economy Profiles 284 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...2. 2 Foreign currency regulations...2. 1 Poor public health...1. 1 Policy instability...0. 4

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3. 03 Inflation, annual%change*..*6. 2...109 3. 04 General government debt,%GDP*..*26.6.28

Country/Economy Profiles 286 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...2. 0 Tax rates...1. 9 Insufficient capacity to innovate...1. 4 Poor public health...0. 2

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3. 03 Inflation, annual%change*..*9. 9...136 3. 04 General government debt,%GDP*..*31.0.38

Country/Economy Profiles 288 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*74.9.117

Country/Economy Profiles 290 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*35.9.54

Country/Economy Profiles 292 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...0. 6 Crime and theft...0. 0 Foreign currency regulations...0. 0 Government instability/coups...

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3. 03 Inflation, annual%change*..*7. 4...121 3. 04 General government debt,%GDP*..*42.4.70

Country/Economy Profiles 294 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...1. 8 Foreign currency regulations...1. 3 Insufficient capacity to innovate...1. 2 Government instability/coups...

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3. 03 Inflation, annual%change*..*8. 5...127 3. 04 General government debt,%GDP*..*19.4.18

Country/Economy Profiles 296 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*2. 1...1 3. 04 General government debt,%GDP*..*29.5.35

Country/Economy Profiles 298 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 2 Tax rates...0. 4 Poor public health...0. 3 Tax regulations...0. 2 Foreign currency regulations...

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3. 03 Inflation, annual%change*..*1. 3...1 3. 04 General government debt,%GDP*..*7. 0...4

Country/Economy Profiles 300 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

Inflation...3. 7 Tax regulations...3. 5 Insufficient capacity to innovate...3. 3 Foreign currency regulations...

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3. 03 Inflation, annual%change*..*7. 4...120 3. 04 General government debt,%GDP*..*63.1.106

Country/Economy Profiles 302 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...5. 2 Tax regulations...4. 0 Inadequate supply of infrastructure...3. 2 Insufficient capacity to innovate...

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3. 03 Inflation, annual%change*..*4. 0...81 3. 04 General government debt,%GDP*..*41.3.67

Country/Economy Profiles 304 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 1 Foreign currency regulations...1. 0 Tax rates...0. 9 Policy instability...0. 6

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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*..

3. 03 Inflation, annual%change*..*2. 7...1 3. 04 General government debt,%GDP*..*15.2.13

Country/Economy Profiles 306 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 8...1 3. 04 General government debt,%GDP*..*19.6.19

Country/Economy Profiles 308 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 9...57 3. 04 General government debt,%GDP*..*38.3.58

Country/Economy Profiles 310 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*0. 9...1 3. 04 General government debt,%GDP*..*57.5.96

Country/Economy Profiles 312 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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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*..

3. 03 Inflation, annual%change*..*0. 4...59 3. 04 General government debt,%GDP*..*128.8.138

Country/Economy Profiles 314 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*63.0.104

Country/Economy Profiles 316 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*3. 1...63 3. 04 General government debt,%GDP*..*34.2.50

Country/Economy Profiles 318 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*4. 0...80 3. 04 General government debt,%GDP*..*39.3.59

Country/Economy Profiles 320 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*6. 8...115 3. 04 General government debt,%GDP*..*13.4.10

Country/Economy Profiles 322 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*4. 2...84 3. 04 General government debt,%GDP*..*29.4.34

Country/Economy Profiles 324 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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3. 03 Inflation, annual%change*..*3. 5...72 3. 04 General government debt,%GDP*..*2. 7...2

Country/Economy Profiles 326 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*45.9.79

Country/Economy Profiles 328 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*7. 7...124 3. 04 General government debt,%GDP*..*65.8.108

Country/Economy Profiles 330 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...1. 3 Government instability/coups...1. 0 Seychelles Seychelles Sub-saharan africa 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*..

3. 03 Inflation, annual%change*..*4. 3...87 3. 04 General government debt,%GDP*..*62.0.103

Country/Economy Profiles 332 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*9. 8...135 3. 04 General government debt,%GDP*..*32.6.44

Country/Economy Profiles 334 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 4...1 3. 04 General government debt,%GDP*..*103.8.133

Country/Economy Profiles 336 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*54.9.91

Country/Economy Profiles 338 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*73.0.115

Country/Economy Profiles 340 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*5. 8...102 3. 04 General government debt,%GDP*..*45.2.77

Country/Economy Profiles 342 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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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*..

3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*93.9.130

Country/Economy Profiles 344 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*6. 9...117 3. 04 General government debt,%GDP*..*78.3.119

Country/Economy Profiles 346 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 9...1 3. 04 General government debt,%GDP*..*29.2.32

Country/Economy Profiles 348 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*5. 6...99 3. 04 General government debt,%GDP*..*18.8.17

Country/Economy Profiles 350 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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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*..

3. 03 Inflation, annual%change*..*0. 0...69 3. 04 General government debt,%GDP*..*41.4.68

Country/Economy Profiles 352 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

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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*..

3. 03 Inflation, annual%change*..*†0. 2...74 3. 04 General government debt,%GDP*..

Country/Economy Profiles 354 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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

3. 03 Inflation, annual%change*..*0. 8...1 3. 04 General government debt,%GDP*..*41.0.64

Country/Economy Profiles 356 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*5. 0...91 3. 04 General government debt,%GDP*..*29.2.33

Country/Economy Profiles 358 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*7. 9...125 3. 04 General government debt,%GDP*..*41.0.65

Country/Economy Profiles 360 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 2...1 3. 04 General government debt,%GDP*..*45.3.78

Country/Economy Profiles 362 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...0. 9 Tax regulations...0. 9 Timor-Leste Timor-Leste Emerging and Developing Asia

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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*..

3. 03 Inflation, annual%change*..*10.6.137 3. 04 General government debt,%GDP*..*n/a n/a

Country/Economy Profiles 364 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*5. 2...93 3. 04 General government debt,%GDP*..*30.6.37

Country/Economy Profiles 366 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...4. 1 Insufficient capacity to innovate...4. 0 Crime and theft...1. 9 Poor public health...

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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*..

3. 03 Inflation, annual%change*..*6. 1...108 3. 04 General government debt,%GDP*..*44.4.75

Country/Economy Profiles 368 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*7. 5...122 3. 04 General government debt,%GDP*..*35.8.53

Country/Economy Profiles 370 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*5. 4...97 3. 04 General government debt,%GDP*..*33.9.49

Country/Economy Profiles 372 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*†0. 3...75 3. 04 General government debt,%GDP*..

Country/Economy Profiles 374 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...15.2 Inadequately educated workforce...14.4 Access to financing...13.9 Poor work ethic in national labor force...

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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*..

3. 03 Inflation, annual%change*..*1. 1...1 3. 04 General government debt,%GDP*..*12.3.9

Country/Economy Profiles 376 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*2. 6...1 3. 04 General government debt,%GDP*..*90.1.126

Country/Economy Profiles 378 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*1. 5...1 3. 04 General government debt,%GDP*..*104.5.134

Country/Economy Profiles 380 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

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*..

3. 03 Inflation, annual%change*..*8. 6...128 3. 04 General government debt,%GDP*..*59.4.98

Country/Economy Profiles 382 The Global Competitiveness Report 2014†2015 0 5 10 15 20 25 30

Inflation...13.0 Policy instability...10.8 Inefficient government bureaucracy...9. 6 Corruption...6. 5 Crime and theft...

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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*..

3. 03 Inflation, annual%change*..*40.7.144 3. 04 General government debt,%GDP*..*49.8.85 3. 05 Country credit rating, 0†100 (best*..

Country/Economy Profiles 384 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*6. 6...113 3. 04 General government debt,%GDP*..*55.0.93

Country/Economy Profiles 386 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

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*..

Country/Economy Profiles 388 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*7. 0...119 3. 04 General government debt,%GDP*..*35.1.51

Country/Economy Profiles 390 The Global Competitiveness Report 2014†2015 Percent of responses GDP (PPP) per capita (int†l $), 1990†2013

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*..

3. 03 Inflation, annual%change*..*1. 6...1 3. 04 General government debt,%GDP*..*54.7.90

economies included in The Global Competitiveness Report 2014†2015. The data tables are organized into 13 sections

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...

3. 03 Inflation...440 3. 04 Government debt...441 3. 05 Country credit rating...442 Pillar 4:

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...

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...

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

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...

RANK COUNTRY/ECONOMY VALUE 1 Timor-Leste...36.1 2 Kuwait...28.9 3 Qatar...11.1 4 Norway...

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...

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...

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...

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...

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...

RANK COUNTRY/ECONOMY VALUE 1 Canada...1 1 New zealand...1 3 Armenia...2 3 Georgia...2

RANK COUNTRY/ECONOMY VALUE 57 Ukraine...6 57 United arab emirates...6 57 United kingdom...6 57 United states...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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

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

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

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...

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

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

This indicator does not apply to economies where there is no regular train service or where the network covers only a negligible

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

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

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

1=excessively burdensome for the economy; 7=balances well the interests of taxpayers, consumers and producers

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

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

Economics from the Graduate Institute of International and Development Studies in Geneva, where he conducted

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

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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