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Global Competitiveness Index 2011-2012: Mongolia

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The Global Competitiveness Report 2011-2012, comes out amid multiple challenges to the global economy and a continuing shift in the balance of economic activity away from advanced economies and toward emerging markets. Policymakers are struggling to find ways to manage the present economic challenges while preparing their economies to perform well in an increasingly complex global landscape and this report offers a unique tool in addressing some key issues.
This year's report findings show that Switzerland tops the overall rankings. Singapore overtakes Sweden for second position. Northern and Western European countries dominate the top 10 with Sweden (3rd), Finland (4th), Germany (6th), the Netherlands (7th), Denmark (8th) and the United Kingdom (10th). Japan remains the second-ranked Asian economy at 9th place, despite falling three places since last year, whereas our neighbors Russia stood at 66th and China at 6th. Mongolia with a score of 3.86 ranked at 96th place out of 142 countries which climbed compared to last year's rank of 99th.

Key indicators, 2010

Population (millions)	2.7
GDP (US$ billions)	6.1
GDP per capita (US$)	2,227
GDP (PPP) as share (%) of world total	0.01

Global Competitiveness Index, 2011-2012

Index	Rank	Score 0–100
GCI 2011–2012	96	3.9
GCI 2010–2011 (out of 139)	99	3.7
GCI 2009–2010 (out of 133)	117	3.4
Basic requirements (55.5%)	101	4.2
Institutions	119	3.2
Infrastructure	118	2.7
Macroeconomic environment	34	5.4
Health and primary education	98	5.4
Efficiency enhancers (38.4%)	105	3.6
Higher education and training	84	3.9
Goods market efficiency	92	4.0
Labor market efficiency	31	4.7
Financial market development	129	3.2
Technological readiness	102	3.1
Market size	124	2.4
Innovation and sophistication factors (6.1%)	112	3.0
Business sophistication	119	3.2
Innovation	102	2.8
The most problematic factors for doing business
Inefficient government bureaucracy	15.5
Inadequately educated workforce	13.0
Corruption	12.8
Inadequate supply of infrastructure	11.5
Policy instability	8.9
Access to financing	8.4
Poor work ethic in national labor force	7.9
Inflation	5.1
Tax regulations	4.4
Foreign currency regulations	3.9
Tax rates	2.9
Government instability/coups	2.3
Restrictive labor regulations	1.7
Poor public health	0.9
Crime and theft	0.8

The Global Competitiveness Index in detail

	Index	Score 0–100	Rank
	1st pillar: Institutions
1.01	Property rights	3.3	118
1.02	Intellectual property protection	2.2	136
1.03	Diversion of public funds	2.3	125
1.04	Public trust of politicians	2.0	113
1.05	Irregular payments and bribes	3.1	114
1.06	Judicial independence	2.6	122
1.07	Favoritism in decisions of government officials	2.2	130
1.08	Wastefulness of government spending	1.8	139
1.09	Burden of government regulation	2.7	114
1.10	Efficiency of legal framework in settling disputes	3.0	106
1.11	Efficiency of legal framework in challenging regs.	2.9	114
1.12	Transparency of government policymaking	3.7	114
1.13	Business costs of terrorism	6.4	9
1.14	Business costs of crime and violence	4.9	66
1.15	Organized crime	5.1	78
1.16	Reliability of police services	3.7	93
1.17	Ethical behavior of firms	3.1	127
1.18	Strength of auditing and reporting standards	3.9	118
1.19	Efficacy of corporate boards	3.7	135
1.20	Protection of minority shareholders' interests	2.9	137
1.21	Strength of investor protection, 0–10 (best)*	6.3	28
	2nd pillar: Infrastructure
2.01	Quality of overall infrastructure	2.5	136
2.02	Quality of roads	1.8	139
2.03	Quality of railroad infrastructure	2.6	66
2.04	Quality of port infrastructure	2.8	127
2.05	Quality of air transport infrastructure	3.2	129
2.06	Available airline seat kms/week, millions*	21.1	119
2.07	Quality of electricity supply	3.3	108
2.08	Fixed telephone lines/100 pop.*	7.0	104
2.09	Mobile telephone subscriptions/100 pop.*	91.1	86
	3rd pillar: Macroeconomic environment
3.01	Government budget balance, % GDP*	1.2	17
3.02	Gross national savings, % GDP*	36.7	11
3.03	Inflation, annual % change*	10.2	128
3.04	Interest rate spread, %*	8.2	103
3.05	General government debt, % GDP*	20.3	25
3.06	Country credit rating, 0–100 (best)*	36.3	92
	4th pillar: Health and primary education
4.01	Business impact of malaria	N/Appl	1
4.02	Malaria cases/100,000 pop.*	(NE)	1
4.03	Business impact of tuberculosis	4.9	94
4.04	Tuberculosis incidence/100,000 pop.*	224.0	113
4.05	Business impact of HIV/AIDS	5.6	47
4.06	HIV prevalence, % adult pop.*	<0.1	1
4.07	Infant mortality, deaths/1,000 live births*	24.3	89
4.08	Life expectancy, years*	66.9	106
4.09	Quality of primary education	3.3	96
4.10	Primary education enrollment, net %*	90.5	91
	5th pillar: Higher education and training
5.01	Secondary education enrollment, gross %*	92.2	53
5.02	Tertiary education enrollment, gross %*	52.7	43
5.03	Quality of the educational system	2.4	132
5.04	Quality of math and science education	4.0	67
5.05	Quality of management schools	2.8	135
5.06	Internet access in schools	4.1	69
5.07	Availability of research and training services	2.2	141
5.08	Extent of staff training	4.0	68
	6th pillar: Goods market efficiency
6.01	Intensity of local competition	4.5	96
6.02	Extent of market dominance	2.5	140
6.03	Effectiveness of anti-monopoly policy	3.3	118
6.04	Extent and effect of taxation	3.7	48
6.05	Total tax rate, % profits*	23.0	16
6.06	No. procedures to start a business*	7	65
6.07	No. days to start a business*	13	51
6.08	Agricultural policy costs	3.6	92
6.09	Prevalence of trade barriers	4.2	92
6.10	Trade tariffs, % duty*	4.6	60
6.11	Prevalence of foreign ownership	5.1	45
6.12	Business impact of rules on FDI	4.2	100
6.13	Burden of customs procedures	3.3	122
6.14	Imports as a percentage of GDP*	65.8	33
6.15	Degree of customer orientation	3.9	120
6.16	Buyer sophistication	3.0	98
	7th pillar: Labor market efficiency
7.01	Cooperation in labor-employer relations	4.1	89
7.02	Flexibility of wage determination	5.8	15
7.03	Rigidity of employment index, 0–100 (worst)*	17.0	39
7.04	Hiring and firing practices	4.6	25
7.05	Redundancy costs, weeks of salary*	9	16
7.06	Pay and productivity	4.5	30
7.07	Reliance on professional management	3.6	119
7.08	Brain drain	2.5	118
7.09	Women in labor force, ratio to men*	0.88	27
	8th pillar: Financial market development
8.01	Availability of financial services	3.6	124
8.02	Affordability of financial services	3.3	122
8.03	Financing through local equity market	3.1	97
8.04	Ease of access to loans	1.7	136
8.05	Venture capital availability	1.8	137
8.06	Soundness of banks	3.8	134
8.07	Regulation of securities exchanges	2.7	131
8.08	Legal rights index, 0–10 (best)*	6.0	60
	9th pillar: Technological readiness
9.01	Availability of latest technologies	4.1	120
9.02	Firm-level technology absorption	4.5	90
9.03	FDI and technology transfer	4.5	85
9.04	Internet users/100 pop.*	10.2	113
9.05	Broadband Internet subscriptions/100 pop.*	2.3	88
9.06	Internet bandwidth, kb/s/capita*	6.2	61
	10th pillar: Market size
10.01	Domestic market size index, 1–7 (best)*	2.1	126
10.02	Foreign market size index, 1–7 (best)*	3.2	113
	11th pillar: Business sophistication
11.01	Local supplier quantity	4.1	121
11.02	Local supplier quality	3.5	133
11.03	State of cluster development	2.7	121
11.04	Nature of competitive advantage	3.2	84
11.05	Value chain breadth	2.9	122
11.06	Control of international distribution	3.1	133
11.07	Production process sophistication	3.2	103
11.08	Extent of marketing	3.9	77
11.09	Willingness to delegate authority	2.7	135
	12th pillar: Innovation
12.01	Capacity for innovation	3.0	72
12.02	Quality of scientific research institutions	2.9	110
12.03	Company spending on R&D	2.8	92
12.04	University-industry collaboration in R&D	3.2	97
12.05	Gov't procurement of advanced tech products	3.4	89
12.06	Availability of scientists and engineers	4.0	76
12.07	Utility patents granted/million pop.*	0.0	90