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World's Competitiveness Yearbook

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World's Competitiveness Yearbook

 
 

World Competitiveness Yearbook

Summary: The World Competitiveness Yearbook (WCY) of Institute for Management Development (IMD) is annual report on the competitiveness of nations.

Main Points: The WCY, published without interruption since 1989, analyzes and ranks how nations and enterprises manage the totality of their competencies to achieve increased prosperity. The 2013 WCY provides extensive coverage of 60 economies, all key players in world markets. All economies are chosen because of their impact on the global economy and the availability of comparable international statistics.

Over 300 competitiveness criteria have been selected as a result of extensive research using economic literature, international, national and regional sources and feedback from the business community, government agencies and academics. The criteria are revised and updated on a regular basis as new theory, research and data become available and as the global economy evolves.

The WCY divides the national environment into four main competitiveness factors then broken down into five sub-factors, each highlighting different facets of competitiveness:

·        Economic performance (79 criteria)- macro-economic evaluation of the domestic economy: domestic economy, international trade, international investment, employment and prices.

·        Government efficiency (70 criteria)- extent to which government policies are conducive to competitiveness: public finance, fiscal policy, institutional framework, business legislation and societal framework.

·        Business efficiency (71 criteria)- extent to which the national environment encourages enterprises to perform in an innovative, profitable and responsible manner: productivity and efficiency, labor market, finance, management practices and attitudes and values.

·        Infrastructure (113 criteria)- extent to which basic, technological, scientific and human resources meet the needs of business: basic infrastructure, technological infrastructure, scientific infrastructure, health and environment and education.

The WCY uses different types of data to measure quantifiable and qualitative issues separately. Statistical indicators are acquired from international, national and regional organizations, private institutions and our network of 55 Partner Institutes worldwide. These statistics are referred to in the WCY as Hard Data and include 130 criteria used to determine the overall rankings and 87 criteria presented as valuable background information but not used in the calculation of the rankings. The Hard Data represent a weight of approximately two-thirds in the overall ranking. An additional 116 criteria are drawn from our annual Executive Opinion Survey and are referred to in the WCY as Survey Data. The survey questions are included in the Yearbook as individual criteria and are also used in calculating the overall ranking, representing a weight of approximately one-third.

The dataset covers global sample of countries.

Access to database: www.imd.ch

Source: IMD World Competitiveness Yearbook, 2013: http://www.imd.org/news/World-Competitiveness-2013.cfm

Page Created By:  Madina Junussova. The content presented on this page is drawn directly from the source(s) cited above, and consists of direct quotations or close paraphrases. This material does not necessarily reflect the official view of the publishing organization.


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