Indexfokus Competitiveness. A competitiveness as perceived by stakeholders
The Global Competitiveness Report 2014-2015 Econonomic Forum.pdf · The Global Competitiveness...
Transcript of The Global Competitiveness Report 2014-2015 Econonomic Forum.pdf · The Global Competitiveness...
Latvia in the Global Competitiveness Report
2014-2015
Topical and regional
reports, index
development,
workshops,
training, and much,
much more…
Competitiveness
research at the
World Economic
Forum
We aim to measure what lies behind different growth paths
Source: IMF, World Economic Outlook database, October 2014 edition
Cambodia
China
Latvia
Korea, Rep.
What is competitiveness?
“The set of institutions, policies, and factors that determine the level of productivity of a country, taking into account its level of development. The level of productivity, in turn, sets the level of prosperity that can be earned by an economy”
Our framework: The 12 pillars of competitiveness
The Global Competitiveness Index
Basic Requirements
1.Institutions
2.Infrastructure
3.Macroeconomic environment
4.Health and primary education
Efficiency enhancers
Innovation and sophistication
factors
5.Higher education and training
6. Goods market efficiency
7. Labor market efficiency
8. Financial market development
9. Technological readiness
10. Market size
11. Business sophistication
12. Innovation
Stages of development and the drivers of competitiveness
Innovation-driven stage Transition stage Efficiency-driven stage
Transition stage
Factor-driven stage
Basic
Innovation
Efficiency
$2
,00
0
$3
,00
0
$9
,00
0
$1
7,0
00
GDP per capita US$ (not to scale)
Competitiveness drivers
The GCI data
• 113 individual indicators populating the different pillars
• 20,000 data points in total
• Data sources include international organisations and the World Economic Forum’s Executive Opinion Survey
Examples
The Global Competitiveness Index 2014-2015 Rankings
Rank Country/Economy Score (1-7) Prev. rank Rank Country/Economy Score (1-7) Prev. rank
1 Switzerland 5.7 1 34 Indonesia 4.6 38
2 Singapore 5.6 2 35 Spain 4.6 35
3 United States 5.5 5 36 Portugal 4.5 51
4 Finland 5.5 3 39 Mauritius 4.5 45
5 Germany 5.5 4 42 Latvia 4.5 52
6 Japan 5.5 9 49 Italy 4.4 49
7 Hong Kong SAR 5.5 7 52 Philippines 4.4 59
8 Netherlands 5.5 8 53 Russian Federation 4.4 64
9 United Kingdom 5.4 10 56 South Africa 4.4 53
10 Sweden 5.4 6 57 Brazil 4.3 56
12 United Arab Emirates 5.3 19 61 Mexico 4.3 55
15 Canada 5.2 14 68 Vietnam 4.2 70
20 Malaysia 5.2 24 71 India 4.2 60
23 France 5.1 23 81 Greece 4.0 91
26 Korea, Rep. 5.0 25 127 Nigeria 3.4 120
28 China 4.9 29 134 Myanmar 3.2 139
29 Estonia 4.7 32 140 Angola 3.0 142
33 Chile 4.6 34 144 Guinea 2.8 147
The Global Competitiveness Landscape
= Top 10 economies 100-144
76-100
50-75
26-50
10-25
Top 10
GCI 2014-2015 rank
The Global Competitiveness Report 2014-2015
• Reforming for prosperity Monetary policy has to a large extent driven the global recovery thus far, but sustaining this trend will depend on successfully implementing structural reforms.
• Smart investment in skills and innovation Those economies that consistently rank high in the competitiveness rankings are those that able to develop, attract and retain talent and can constantly introduce new higher value added products and services into the market
• Public-private collaboration Cooperative leadership among business, government and civil society is needed in order to get the world back to sustainable growth and rising living standards.
Latvia’s competitiveness in regional comparison
The competitiveness divide in Europe
European reformers versus non-reformers
Sources: IMF, World Economic Outlook 2014
Country GCI 2014-15
Change to previous year
Country GCI 2014-15 Change to previous year
Finland 4 -1 Czech Republic 37 9
Germany 5 -1 Lithuania 41 7
Netherlands 8 0 Latvia 42 10
United Kingdom 9 1 Poland 43 -1
Sweden 10 -4 Malta 47 -6
Denmark 13 2 Italy 49 0
Belgium 18 -1 Bulgaria 54 3
Luxembourg 19 3 Cyprus 58 0
Austria 21 -5 Romania 59 17
France 23 0 Hungary 60 3
Ireland 25 3 Slovenia 70 -8
Estonia 29 3 Slovak Republic 75 3
Spain 35 0 Croatia 77 -2
Portugal 36 15 Greece 81 10
Latvia – towards improved competitiveness
?
Latvia’s score in the 12 pillars of the GCI 2014-2015
Latvia’s score in the 12 pillars of the GCI 2014-2015
Innovation-driven
Latvia’s score in the 12 pillars of the GCI 2014-2015
Latvia’s performance in innovation and sophistication factor
Better Worse
Latvia’s rank out of 144 economies
Rank of EU 28 economies
Latvia’s performance in public institutions – selected indicators
Latvia’s rank out of 144 economies
Better Worse Rank of EU 28 economies
Latvia’s performance in infrastructure
Latvia’s rank out of 144 economies
Better Worse Rank of EU 28
economies
Latvia’s performance in tech readiness – selected indicators
Latvia’s rank out of 144 economies
Better Worse Rank of EU 28
economies
Latvia’s performance in higher education and training
Latvia’s rank out of 144 economies
Better Worse
Rank of EU 28 economies
Bureaucracy, tax regulations and limited access to finance impede Latvian businesses
From a list of 16 factors Latvian business leaders selected the five most problematic for doing business
Latvia – towards a knowledge-driven economy
4.Health and primary education
2.Infrastructure
1.Institutions
3.Macroeconomic environment
5.Higher education and training
8. Financial market development
7. Labor market efficiency
10. Market size
9. Technological readiness
6. Goods market efficiency
12. Innovation
11. Business sophistication
Impressive progress made post-crisis: improvements in market efficiencies (goods, financial, labour) and the macroeconomic and financial environment (except access to finance)
Competitiveness-enhancing investments in skills and innovation are needed as the country is transitioning towards the innovation-stage of development
Further strengthening of basic pillars of a competitive economy needed: institutions and infrastructure