What are the difference between the Global Competitiveness Index and the Growth Competitiveness Index?
Both Indices result from the World Economic Forum’s efforts to identify and measure the key drivers of competitiveness. The Growth Competitiveness Index with 35 variables is a less sophisticated structure which captures three key drivers of growth: the macroeconomic environment, the quality of public institutions and technology. By contrast, the Global Competitiveness Index, rich of over 113 variables, is a much more comprehensive tool. It incorporates concepts that theoretical and empirical work suggest are important determinants of competitiveness, such as the functioning of labour markets, the quality of a country’s infrastructure, the state of education and public health, and the size of the market.
