The Global Competitiveness Report 2011-2012 issued by the World Economic Forum

Paper of the Week 4

The Paper of the Week is The Global Competitiveness Report 2011-2012 issued by the World Economic Forum. 

Romania’s case is tackled with respect to competitivity but not yet from a competitive sustainability point of view.

Romania ranks 77 (out of 142) in the 2011-2012 time bracket in Global Competiveness Index gliding lower from 67  (out of 139) in the 2009-2010 period and 64 (out of 133) in the 2009-2010 time span.

In addition to the reports for 142 countries there are two opinions worth mentioning, one by X. Sala-i-Martin et al. ” Setting the Foundations for Strong Productivity” and another one by J. Blanke et al., “The Long-Term View: Developing a Framework for Assessing Sustainable Competitiveness”.

The analysis rests on 12 pillars.

Romania is mapped in the Efficiency Driven category for which the first opinion argues that the Efficiency Enhancers are Higher education and training (55), Goods market efficiency (96), Labor market efficiency (92), Financial market development (84), Technological readiness (60), Market size (44).

The remaining pillars are divided into 2 other categories Basic Requirements (which include Institutions (99), Infrastructure (95), Macroeconomic environment (87) and Health and primary education (66)) and Innovation and Sophistication factors ( which include Business sophistication (102) and Innovation (95).

The numbers in brackets are the global ranks per each pillar.

The most problematic factors for doing business in Romania in order of suggested importance: Tax rates, Inefficient government bureaucracy, Policy instability, Access to financing, Corruption, Inadequate supply of infrastructure, Tax regulations.

image from http://www.weforum.org

 

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