CEIC News@lert: Country Competitiveness Index now available in World Trend Plus

country competitiveness index 2015 2016 graph
country competitiveness index 2015 2016 graph

CEIC News@lert/World Trend Plus - June 3, 2016 The CEIC Database team is pleased to announce the launch of a brand new topic: Country Competitiveness under World Trend Plus. There are two sets of indices under this topic: the Global Competitiveness Index (GCI) and Information Technology Networked Readiness Index (NRI) provided by the World Economic Forum (WEF). The WEF is best known for its annual winter meeting in Davos that brings together a vast number of top business leaders, international political leaders, selected intellectuals and journalists to discuss pressing economic issues. Global Competitiveness Index (GCI) What is the GCI? The GCI evaluates the types of institutions, policies and factors determining how productively an economy utilizes its resources, which in turn determines the prosperity a country can achieve. How does the WEF measure competitiveness? The report analyses competitiveness using 12 pillars (detailed in the first chart, above). These are organized into three sub-indices: basic requirements, efficiency enhancers, and innovation and sophistication factors. The three sub-indices are given different weights in the calculation of the overall index, depending on each economy’s stage of development. What kind of data forms the basis of the GCI? The GCI uses the WEF’s annual Executive Opinion Survey to capture concepts that require a more qualitative assessment, or for which comprehensive and internationally comparable statistical data are not available. For the latest GCI, more than 14,000 business leaders in 140 economies were surveyed on topics related to national competitiveness. It also uses statistical data from internationally recognized agencies such as the International Monetary Fund (IMF) and World Health Organization (WHO). How many economies are covered? The latest GCI covers 140 economies, which together account for 98.3% of world GDP. The country and regional classification is defined by the IMF. Information Technology Networked Readiness Index (NRI) What is the NRI? The NRI is an index that assesses the factors, policies and institutions that enable a country to fully leverage information and communication technologies (ICTs) for increased competitiveness and well-being. It is a composite indicator made up of 4 sub-indexes, 10 pillars (shown in the chart, above) and 53 individual indicators. How does the WEF measure and calculate the NRI? The computation of the NRI is based on successive aggregations of scores, from the indicator level to the overall NRI score. The majority of indicators are derived from the WEF’s annual Executive Opinion Survey. All the other indicators that come from external sources (such as the World Bank) are placed on a 7-point scale in order to align them with the survey’s results. How many economies are covered? The latest NRI covers 143 economies, which account for a combined 98.4% of world GDP. The country and regional classification is defined by the IMF. QUICK REFERENCE CDM Table: World Trend Plus Database > Country Competitiveness > Global Competitiveness Index (GCI) > Information Technology Networked Readiness Index (NRI) Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog

3rd June 2016 CEIC News@lert: Country Competitiveness Index now available in World Trend Plus

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