Barriers and Opportunities for Enhancing Capital Flows
In the COMCEC Member Countries
86
Appendix 3: A comparison of global rankings related to the business environment and
the COMCEC Country performance
World Economic Forum – Global Competitiveness Report
The Global Competitiveness Report (GCR) is a study prepared yearly by the World Economic
Forum. The report presents the findings of the Global Competitiveness Index, which measures
countries’ competitiveness on the basis of factors of productivity and growth. The study uses a
framework of 12 “pillars of competitiveness”, namely: institutions, infrastructure,
macroeconomic environment, health and primary education, higher education and training,
goods market efficiency, labour market efficiency, financial market development, technological
readiness, market size, business sophistication and innovation. The final scoring acknowledges
that certain factors of competitiveness are more relevant to some countries than to others;
therefore it assigns different weights to categories according to an initial classification of the
countries by “stages of economic development”. The report draws data from leading
international organisations and also from the findings of its own “Executive Opinion Survey”.
The 2013-2014 edition covers 148 countries.
Global results:
In its latest edition, the top 10 is formed by 6 European countries (Switzerland, Finland,
Germany, Sweden, the Netherlands and the United Kingdom), 3 Asian countries (Singapore,
Hong Kong SAR and Japan) and the United States.
OIC Countries:
42 countries analysed in the present study are covered by the GCR. Of the OIC group of
countries it is Qatar that fares the best, it is ranked 13th out of 148 countries. It is followed by
United Arab Emirates (19th), Saudi Arabia (20th), Malaysia (24th) and Brunei (26 th). Qatar
stands out globally for the efficiency of its financial market (ranked 2 nd in the entire index).
The success of these countries, as measured by the index, greatly contrasts the situation of
countries like Burkina Faso, Mauritania, Sierra Leone, Yemen, Guinea, and Chad, which are
found in the bottom 10 of the global ranking.
World Bank - Doing Business Report
The Doing Business Report is a yearly study conducted by the World Bank, aimed at evaluating
the regulatory environment for businesses. The study produces a final ranking based on an
average of 10 topics assessments: starting a business, dealing with construction permits,
getting electricity, registering property, getting credit, protecting investors, paying taxes,
trading across borders, enforcing contracts and resolving insolvency. Data is obtained through
research of the laws in place and consultations. In the 2013 edition the study covered 185
economies.
Global results:
In 2013 Singapore was at the top of the list, followed by Hong Kong, New Zealand, United
States and Denmark. Norway, United Kingdom, Korea, Georgia and Australia followed behind.