NS 4540 Winter Term 2015 Country Indices Country

NS 4540 Winter Term 2015 Country Indices

Country Indices/Rankings I • There a number of organizations that provide rankings of countries based on factors that organization feels are key to progress and sustained growth and development • World Bank Governance Indices • Voice and Accountability • Political Stability/Absence of Violence • Government Effectiveness • Regulatory Quality • Rule of Law • Control of Corruption 2

CA: Voice and Accountability 3

CA: Political Stability 4

CA: Government Effectiveness 5

CA: Regulatory Quality 6

CA: Rule of Law 7

CA: Control of Corruption 8

Country Indices/Rankings II • • Heritage Foundation, Index of Economic Freedom: Rule of Law • Property Rights • • Freedom from Corruption Government Size • Fiscal Freedom • • Government Spending Regulatory Efficiency • Business Freedom • Labor Freedom • • Monetary Freedom Open Markets • Trade Freedom • Investment Freedom • Financial Freedom 9

CA: Economic Freedom 10

CA: Trade Freedom 11

Country Indices/Rankings III • Legatum Prosperity Index • Economy • Entrepreneurship and Opportunity • Governance • Education • Health • Safety and Security • Personal Freedom • Social Capital • http: //prosperity. com/#!/ 12

Country Indices/Rankings IV • World Economic Forum, Competitiveness Index • Institutions • Infrastructure • Macroeconomic Environment • Health and Primary Education • Higher Education and training • Goods Market Efficiency • Labor Market Efficiency • Financial Market Development • Technological Readiness • Market Size • Business Sophistication • Innovation 13

WEF Framework 14

WEF Country Groupings 2014/15 15

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17

18

19

20

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BRICs: Voice and Accountability 22

BRICs: Political Stability/Absence of Violence 23

BRICs: Government Effectiveness 24

BRICs: Regulatory Quality 25

BRICs: Rule of Law 26

BRICs: Control of Corruption 27

MENA: Voice Accountability 28

MENA: Political Stability, Absence of Violence 29

MENA: Government Efficiency 30

MENA: Regulatory Quality 31

MENA: Rule of Law 32

MENA: Control of Corruption 33

MENA: Index of Economic Freedom 34

MENA: Entrepreneurship • Large public sector has bred a lack of economic dynamism in region – further setting back employment • World Bank found (2010) that MENA has some of the lowest firm entry density rates in the world • Suggests a lack of entrepreneurship with rate almost four times lower than of Europe and Central Asia 35

MENA: Ease of Doing Business • Region generally scores very low on World Bank’ Ease of Doing Business Index – even lower after 2011 – yet the private sector will have to create most of the jobs. 36

Social Capital • There a number of interesting patterns associated with the region’s governance. • An often neglected aspect is social capital which incorporates • Social networks and • The cohesion a society experiences when people trust one another • Empirical studies on social capital have found that societies with lower levels of social capital have experienced lower rates of economic growth • Unlike physical capital, social capital may take years to show significant increases • For the MENA region, low levels of social capital are closely associated with low levels of governance and entrepreneurship 37

Patterns of Governance/Social Capital 38

Patterns of Social Capital/Entrepreneurship 39

Governance/Oil Curse 40

Asia Governance: Voice and Accountability 41

Asia: Political Stability Absence of Violence 42

Asia: Government Effectiveness 43

Asia: Regulatory Quality 44

Asia: Rule of Law 45

Asia: Control of Corruption 46

Asia: Overall Economic Freedom 47

Asian Trade Freedom 48

Asian Total Economic Freedom 49

Asian Governance: Total Dimensions 50

Africa: Progress in Voice and Accountability 51

Africa: Progress in Political Stability, Absence of Violence 52

Africa: Progress in Government Effectiveness 53

Africa: Progress in Regulatory Quality 54

Africa: Progress in Rule of Law 55

Africa: Progress in Control of Corruption 56

Africa: Progress in Economic Freedom 57

Africa Groupings: Voice and Accountability 58

Africa Groupings: Political Stability Absence of Violence 59

Africa Groupings: Government Effectiveness 60

Africa Groupings: Regulatory Quality 61

Africa Groupings: Rule of Law 62

African Groupings: Control of Corruption 63

Latin America: Voice and Accountability 64

Latin America: Political Stability Absence of Violence 65

Latin America: Government Effectiveness 66

Latin America: Rule of Law 67

Latin America: Control of Corruption 68

Latin America: Total Economic Freedom 69

Latin America: Trade Freedom 70