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Jennifer Blanke Director, Senior Economist World Economic Forum Montenegro | 20 May, 2008

Assessing Southeast Europe’s Competitiveness in an International Context Based on the results of The Global Competitiveness Report 2007-2008. Presented at the 3rd Regional Competitiveness Conference in Southeast Europe. Jennifer Blanke Director, Senior Economist World Economic Forum

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Jennifer Blanke Director, Senior Economist World Economic Forum Montenegro | 20 May, 2008

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  1. Assessing Southeast Europe’s Competitiveness in an International ContextBased on the results of The Global Competitiveness Report 2007-2008 Presented at the 3rd Regional Competitiveness Conference in Southeast Europe Jennifer Blanke Director, Senior Economist World Economic Forum Montenegro | 20 May, 2008

  2. Outline • The Global Competitiveness Report. • The Global Competitiveness Index (GCI) • Southeast Europe’s comparative performance in the GCI rankings

  3. Global Competitiveness Report • Flagship product: Global Competitiveness Report: launched in 1979 covering 16 countries; The Report has since expanded its coverage to 131 countries. • Co-editors: Professors Michael Porter, Xavier Sala-i-Martin and Klaus Schwab • Our goal: to provide a benchmarking tool for policymakers and business leaders

  4. The Global Competitiveness Network Regional and special topic reports recently released: • Gender Gap Study 2007 • Arab World Competitiveness Report 2007 • Africa Competitiveness Report 2007 • Travel and Tourism Competitiveness Report 2008 • Global Information Technology Report 2007-2008 • The Mexico Competitiveness Report 2008

  5. The Global Competitiveness Report 2007-2008What are we trying to measure? GDP per capita 1980-2008 (PPP in international dollars) Source: International Monetary Fund, World Economic Outlook, October 2007

  6. The Global Competitiveness Report 2007-2008 • The mostcomprehensive data set on competitiveness • Assesses the comparative strengths and weakness of a large number of economies • Produced in collaboration with leading academics worldwide and a global network of partner (research) institutes

  7. The Global Competitiveness Report 2007-2008 Data • Use of “hard data” (publicly available information) and survey data (from the Executive Opinion Survey) • The Survey records the perspectives of business leaders around the world; Survey data is indispensable, particularly for variables where no reliable hard data sources exist

  8. The Global Competitiveness Report 2007-2008Country coverage

  9. The Global Competitiveness IndexDefinition • How we do not define competitiveness: “a country’s share of the world market for its products” • This view implies a zero-sum game - one country’s gain comes at the expense of others • How we do define competitiveness: “the set of institutions, policies, and factors that determine the level of productivity of a country.” • The level of productivity, in turn, sets the sustainable level of prosperity that can be earned by an economy.

  10. The Global Competitiveness IndexStages of Development The process of economic development evolves in stages as captured by the model: • “Factor-driven stage”Firms compete in prices, taking advantage of cheap factors • “Efficiency-driven stage”Efficient production practices to increase productivity • “Innovation-driven stage”Economies need to produce innovative products using sophisticated production methods

  11. Global Competitiveness Index 2007-2008The Framework BASIC REQUIREMENTS • Institutions • Infrastructure • Macroeconomic stability • Health and primary education Key forfactor-driven economies • Higher education and training • Goods market efficiency • Labor market efficiency • Financial market sophistication • Technological Readiness • Market size EFFICIENCY ENHANCERS Key forefficiency-driven economies INNOVATION & SOPHISTICATIONS FACTORS Key forinnovation-driven economies • Business sophistication • Innovation

  12. Global Competitiveness Index 2007-2008 • Weights of the three main groups of pillars at each stage of development

  13. Global Competitiveness Index 2007-2008Countries by stage of development

  14. Global Competitiveness Index 2007-2008Top 20 and selected economies

  15. Global Competitiveness Index 2007-2008Southeast Europe’s (SEE) overall ranking

  16. Global Competitiveness Index 2007-2008Southeast Europe’s (SEE) performance per pillar

  17. The Global Competitiveness Rankings 2007-2008 Regional comparisons: SEE average vs. EU Accession 12

  18. The Global Competitiveness Rankings 2007-2008 Regional comparisons: SEE average vs. EU 25

  19. The Global Competitiveness Rankings 2007-2008 Regional comparisons: SEE average vs. EU 15

  20. The Global Competitiveness Rankings 2007-2008 Regional comparisons: SEE average vs. Latin America and the Caribbean

  21. The Global Competitiveness Rankings 2007-2008 Regional comparisons: SEE average vs. East Asian NICs average (Hong Kong, South Korea, Singapore, and Taiwan)

  22. The Global Competitiveness Rankings 2007-2008 SEE and selected comparators (scores on a scale of 1 to 7)

  23. The Global Competitiveness Rankings 2007-2008 Case study: Montenegro’s overall performance

  24. The Global Competitiveness Rankings 2007-2008 Case study: Montenegro’s comparative advantages

  25. The Global Competitiveness Rankings 2007-2008 Case study: Montenegro’s comparative disadvantages

  26. The Global Competitiveness Rankings 2007-2008 Montenegro vs. EU 27

  27. The Global Competitiveness Rankings 2007-2008 Montenegro vs. EU Accession 12

  28. Conclusions • Competitiveness is a complex process, requiring countries to address issues on many fronts • Several countries in the Southeast Europe region have a number of competitive strengths, especially regarding the quality of basic human capital and macroeconomic stability • But to provide an environment in which its businesses can thrive, and thus improve its competitive position, improvements must be made in a number of critical areas (e.g. institutions, infrastructure, market efficiency)

  29. The Global Competitiveness ReportHow to obtain more information Please visit our website for further information and to download most sections of the Report: www.weforum.org

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