Yesterday 4 Sept. the World Economic Forum released its new edition of the Global Competitiveness Report 2013-2014 which assesses the competitiveness landscape of 148 economies (4 more than last year), providing insight into the drivers of their productivity and prosperity. The rankings are supported by good research into the economic impacts of the respective regulatory frameworks, and include other data such as perception surveys. The whole is highly relevant to the regulatory community.
Main findings:highly innovative countries with strong institutions continue to top international competitiveness rankings Germany moves up two places (4th) and the United States reverses a four-year downward trend, climbing two places to fifth. Hong Kong SAR (7th) and Japan (9th) also close the gap on the most competitive economies, while Sweden (6th), the Netherlands (8th) and the United Kingdom (10th) fall.
Main findings:
Defining competitiveness as the set of institutions, policies and factors that determine the level of productivity of a country, GCI scores are calculated by drawing together country-level data covering 12 categories – the pillars of competitiveness – that together make up a comprehensive picture of a country’s competitiveness. The 12 pillars are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
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