Reforming for Prosperity
Global recovery to date has to a large extent been driven by monetary policy. To secure long-term growth, high-quality job creation and sustained prosperity will require decision-makers to raise productivity and competitiveness through structural reform. Progress on this score has been uneven to date, in advanced and emerging economies alike.
Smart investment in skills and innovation is key to enhanced productivity and competitiveness. It also supports more inclusive growth by allowing everyone to contribute to and benefit from higher levels of prosperity. Economies that consistently rank high in the competitiveness rankings are those that are able to develop, attract and retain talent, and constantly introduce new and higher value-added products and services into the market.
Effective collaboration between business, government and civil society is a necessary prerequisite if reforms and investment are to raise productivity and competitiveness. This calls for strong public and private leadership, a clear vision and effective and ongoing communication to build trust between all parties. It is therefore crucial to create mechanisms and fora to promote dialogue.
The Global Competitiveness Report 2014-2015 Rankings
Here are the most problematic factors for doing business in selected (individual or group of) economies based on the results of the World Economic Forum’s Executive Opinion Survey 2014.