of Economics Armenia Economy and Values Research center Manuk Hergnyan, Chairman Sevak Hovhannisyan, Board member and Senior Associate
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
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
Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao PDR Enterprise & Development Consultants Co.,Ltd
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
-lasting financial and economic crisis of the last 80 years. However, this resurgence is moving at a less
order to ensure robust economic growth that supports more-inclusive economies. Economic and social agendas must go hand in hand
determine economic growth and the level of present and future prosperity in a country. In doing so, since
emerging from the worst financial and economic crisis of the past 80 years and returning to a pre-crisis situation
inputs efficiently to drive sustainable economic growth and prosperity Never before has urbanized the world at the speed and
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
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,
recent economic crisis has highlighted the high degree of interdependence of economies worldwide and the degree to which growth depends on open markets
reduce aggregate economic activity Market efficiency also depends on demand conditions such as customer orientation and buyer sophistication.
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
In line with well-known economic theory of stages of development, the GCI assumes that, in the first
and economic crisis. Moreover, and perhaps more importantly, Sweden has managed to create the right set of conditions for innovation and unsurprisingly scores
will be necessary in order to put economic growth on a sustainable footing. These include an overhaul of the
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
However, since 2010, economic growth has been slowing down in emerging economies, which grew by 4. 7
and ensure that economic growth is sustainable going into the future Qatar falls three places to 16th position.
Boosting economic growth over the longer term will require Jordan†s policymakers to address a number of challenges.
country†s economic growth in the shorter as well as longer terms After dropping for several years in a row, Egypt
otherwise broadly felt economic downturn. As growth is now modestly returning in advanced economies sub-Saharan economies carry on registering impressive
Most economic activity takes place in the informal sector, accounting for more than half of GDP and employing more than 80 percent 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
long-term economic growth, particularly in view of its transition toward middle-income status: secondary and tertiary enrollment rates are low;
economic growth. Ahead of the 2015 election cycle it will, thus, be critical to keep the ongoing reform
driver of economic growth In the current economic context of uneven recovery across advanced economies and renewed risks for
economic growth, create productive jobs, and boost inclusive growth with more and better opportunities for all segments of the population.
sustaining economic growth and enhancing prosperity in a country. The process requires long-lasting commitment from relevant stakeholders to mobilize resources
potential robust determinants of economic growth 4 See Easterly and Levine 1997; Acemoglu et al. 2001,2002; Rodrik
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
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?
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:
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
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
higher rates of long-term economic growth. In reality however, countries differ both in their levels of income
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
economic growth process Despite increased awareness about the urgency of social and environmental issues, progress toward a
absence of economic growth, any effort toward a more equal distribution of income would do little good
economic growth in order to include both the tangible and intangible necessities of life The concept of sustainable competitiveness
of Economics points out, climate legislation in 66 countries now covers nearly 88 percent of current greenhouse gas
a key driver of economic growth, especially in developing countries, because it provides the basis for many innovations in areas such as
from higher rates of economic growth can be affected Based on our definition of sustainable competitiveness, specified above,
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
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
economic growth, full and productive employment and decent work for all 7th pillar (labor market efficiency Goal 9:
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:
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
U s. Labor Share. †Brookings Papers on Economic activity, Fall Available at http://www. brookings. edu//media/Projects/BPEA
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:
In your country, how much economic activity would you estimate to be undeclared or unregistered? 1=most economic
and measurement of economic growth as well as to applying surveying best practices. To this end, it has
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
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
SMES) account for a large share of economic activities in most countries, the Survey aims to collect the opinion
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
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
Economics from the Graduate Institute of International and Development Studies in Geneva, where he conducted
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
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
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
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
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
worst financial and economic crisis the world has seen in decades. But current economic growth needs to be strengthened
worst financial and economic crisis of the past 80 years behind. Developed economies need to sustain
economic growth they experienced in the past decade Against this backdrop, information and communication technologies (ICTS) †in their role as
organizing and managing economic activity based on the new opportunities that the Internet provided for businesses. 1 At present, the world is slowly emerging
economic activity is predicated on the use, exchange and analytics of data. The authors argue the need for a
focuses on the social and economic value of data but from the point of view of use and purpose rather
economic value are being developed using data, and many sectors, from businesses to governments, benefit from data-driven innovation.
organizing and managing economic activity based on the new opportunities that the Internet provided for businesses. 1 At present, the world is slowly emerging
economic crisis at that time. Since then, the active role of all stakeholders†government, businesses, and individuals†has resulted in the positive outcome we see
one of the main sources of potential economic growth and employment generation for Europe, as has been recognized
sources of economic growth for the future both as an industry and as an enabler for innovation, notably in
economic growth, and societal development through the creation of actionable insights Data alone are not very interesting or useful.
September 20, South Mountain Economics LLC. Available at http://files. ctia. org/pdf/The geography of the app economy. pdf Mclellan, C. 2013. â€oebig Data:
economic growth in the early years of that troika. A 2004 OECD paper estimates that inflation-adjusted investment
we mean entirely new classes of economic activity predicated on insights and value derived from analyzing
modern economics: rational, self-interested economic actors determine the price they are willing to pay for a
revenues contribute to economic growth only insofar as they generate added value (or surplus. Revenue of
2013. â€oeexploring the Economics of Personal data: A Survey of Methodologies for Measuring Monetary value. †OECD Digital
-economics-of-personal-data 5k486qtxldmq-en The Global Information technology Report 2014 71 Chapter 1. 6: Rebalancing Socioeconomic Asymmetry in a Data-Driven Economy
and economic activities to the web. 4 More data are generated today than ever before; this is a positive
economic value of data, but from the point of view of use and purpose rather than volume. We will therefore
does not contribute any economic value. 20 This makes no sense in today†s world, as economists are now
economic growth for more than two decades, but only in the past couple of years have economists undertaken serious attempts to quantify the Internet†s
difficult-to-quantify economic value proposition is Google†s Flu Trends, which provides near real-time estimates of flu activity for a number of countries around
or not they have a clear quantifiable economic value at the outset. More efficient preparation for outbreaks
economic growth. However, many generators of data†including governments†do not share their data. As we
opportunities for economic growth via innovation, flexible and adaptable policies are needed. We need to focus on using datasets responsibly
economics, organizations need to consider a variety of methods to upgrade their infrastructure in support of or
Bilbao-Osorio holds a degree in Economics from the Universidad Comercial de Deusto (Spain), a Master in
and public economics. Prior to joining the Forum, he worked as an Analyst in the private consulting and
in Economics/Economic policy from Universitã Cattolica del Sacro Cuore in Milan, Italy; an MA in Economics from
Boston University in the United states, and is currently enrolled in a Phd program in Economics at the Graduate
Institute Geneva in Switzerland Bahjat El-Darwiche Bahjat El-Darwiche is a Partner with Booz & Company
economics, and stakeholder management and worked extensively in this area both at Mckinsey and prior to
Mr Enrã quez has an AB in Economics from Harvard university and did his doctoral work in Economics
at the University of California at Berkeley, where he focused on the economic dynamics of interconnection among
Haynes holds an MA in Philosophy, Politics and Economics from Keble College, Oxford John Garrity
economic growth, competitiveness, social inclusion and environmental protection. His research covers the expansion of fixed and wireless broadband, national
Strategy and Economics group, guiding strategic direction for the Emerging Markets organization, a business unit with
He holds a Master in Applied Economics from Ohio State university Ferry C. Grijpink Ferry C. Grijpink is a Principal in Mckinsey†s Singapore
numerous books and articles on international economics information technology, and development, he holds a BA in Mathematics and Physics, an MBA from Ecole des
Economics from the University of Paris I †La Sorbonne David Meer David Meer is a Partner at Booz
in regulation, regulatory economics, and stakeholder management for the past five years. He has been a
obtained A BS and an MA in Economics from Los Andes University in Colombia, and an MBA with high honours from
Samuel Siewers, Bachelor Student in Economics Movimento Brasil Competitivo (MBC Carolina Aichinger, Project Coordinator Erik Camarano, Chief executive officer
Economics and Management Cambodia Nuppun Institute for Economic Research (NUPPUN Pheakdey Em, Research Associate Pisey Khin, Director
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 Fan Yang, Professor Jian Wang, Associate professor Hongye Xiao, Professor
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 Nana Owusu-Afari, President Seth Twum-Akwaboah, Executive director
Economic policy Institute Lola Abduhametova, Program Coordinator Marat Tazabekov, Chairman Lao PDR Enterprise & Development Consultants Co.,Ltd
Munkhsoyol Baatarjav, Manager of Economic policy Erdenejargal Perenlei, Executive director  2014 World Economic Forum Partner Institutes
Foundation for the Advancement of Economics (FREN Aleksandar Radivojevic, Project Coordinator Bojan Ristic, 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 Verwey, Economic policy Officer Swaziland Federation of Swaziland Employers and Chamber of Commerce Mduduzi Lokotfwako, Coordinator, Trade & Commerce
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