The
Global Competitiveness Report 2005-2006
(Excerpt from Executive
Summary)
The Global Competitiveness
Report (GCR) is an annual publication of
The World Economic Forum (WEF) that enhances
global understanding of the factors influencing
private-sector led economic growth and explains
why some countries are much more successful
than others at creating new employment opportunities
and raising the income level of their respective
populations.
For participating countries,
the GCR reports on performance and policy
conditions affecting the ability of private
sector firms to be globally competitive
– able to create and add value within
the global marketplace. According to the
Global Competitiveness Report 2005-2006,
Finland remains the most competitive economy
in the world and tops the rankings for the
third consecutive year. The United States
is in second position, followed by Sweden,
Denmark, Taiwan, Singapore, Iceland and
Switzerland consecutively. Sri Lanka is
ranked as 98 in the Growth Competitiveness
Index from the 117 countries listed.
Given the importance of
capacity-building in developing countries,
the WEF has expanded its worldwide country
coverage from 104 countries last year, to
117 countries in this year’s Global
Competitiveness Report. Particular attention
has been paid to including more countries
from Africa, as well as several from Central
Asia, given the increasing importance of
this region on the global stage. The information
which is gathered through survey questionnaires
designed to capture a broad range of factors
affecting an economy’s business environment
and ability to sustain economic growth.
Particular attention is placed on elements
of the macroeconomic environment, the quality
of public institutions which underpin the
development process, and the level of technological
readiness and innovation.
The World Economic Forum’s
definition of competitiveness goes beyond
notions of exchange rate competitive-ness,
and links the concept to productivity. Thus,
competitiveness is defined as that collection
of factors, policies and institutions which
determine the level of productivity of a
country and that, therefore, determine the
level of prosperity that can be attained
by an economy. However, productivity is
also the key driver of the rates of return
on investment, which, in turn, determine
the aggregate growth rates of the economy.
Thus, a more competitive economy is one
that is likely to grow faster.
For the most recent edition,
Sri Lanka’s Institute of Policy Studies
(IPS) acted as the local partner organization
of WEF supplying information about Sri Lanka.
Their efforts were assisted by The Competitiveness
Program (TCP) on a cost-share basis with
IPS. This marks the fourth consecutive issue
of the GCR since 2001 to include Sri Lanka
as a full participant.
The following link would
give access to the full report with its
ranking tables and the guide to the methodology
used.
Global Competitiveness Report 2005-2006
Rankings
Global Competitiveness Report Links
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