# **TABLE A18:  Institute for Management Development (WCY)**

## **A18: Institute for Management Development (WCY)**

http://www.imd.ch.

The Institute for Management Development is an research and educational organization based in Lausanne, Switzerland. It has published the World Competitiveness Yearbook since 1987. Until 1996, this was a joint effort with the World Economic Forum. The World Competitiveness Yearbook analyzes the competitive environment in 47 countries. It is based on both objective data and surveys of perceptions. The survey questions over 4,000 local and foreign enterprises operating in the countries under analysis. Mean scores on the survey questions are reported in the yearbook for all countries. In the table below we list the questions included in the governance database.

In the table below we list the variables included in each of the governance indicators. W e use data from the 1996, 1998, 2000,and 2002-2005 editions of the World Competitiveness Yearbook.

|**Table A18: Institute for Management Development(49 deve**|2005<br>**loped a**|2004<br>**nd de**|2003<br>**velop**|2002<br>**ing)**|2000|1998|1996|
|---|---|---|---|---|---|---|---|
|**Voice and Accountability**||||||||
|Transparency of Government policy|X|X|X|X|X|X|X|
|**Political Stability**||||||||
|The risk of political instability is very high|X|X|X|X|X|..|..|
|**Government Effectiveness**||||||||
|Government economic policies do not adapt quickly to changes in the economy|X|X|X|X|X|..|X|
|The public service is not independent from political interference|X|X|X|X|X|X|..|
|Government decisions are not effectively implemented|X|X|X|X|X|X|..|
|<br>Bureaucracy hinders business activity|X|X|X|X|X|X|X|
|The distribution infrastructure of goods and services is generally inefficient|X|X|X|X|X|..|X|
|Political System is not adapted to todays' economic challenges|..|..|..|..|X|..|X|
|Policy direction is not consistent|X|X|..|..|..|..|..|
|**Regulatory Quality**||||||||
|The exchange rate policy of your country hinders the competitiveness of firms|X|X|X|X|..|..|..|
|Protectionism in the country negatively affects the conduct of business|X|X|X|X|X|X|..|
|Competition legislation in your country does not prevent unfair competition|X|X|X|X|X|X|X|
|Price controls affect pricing of products in most industries|X|X|X|X|X|X|X|
|Legal regulation of financial institutions is inadequate for financial stability|..|X|X|X|X|X|X|
|Foreign financial institutions do not have access to the domestic market|..|..|X|X|..|..|X|
|Access to capital markets (foreign and domestic) is easily available|X|X|X|X|..|..|..|
|Ease of doing business is not a competitive advantage for your country|X|X|X|X|..|..|..|
|Financial institutions' transparency is not widely developed in your country|X|X|X|X|..|..|..|
|Customs' authorities do not facilitate the efficient transit of goods|X|X|X|X|X|X|..|
|The legal framework is detrimental to your country's competitiveness|X|X|X|X|X|X|..|
|Foreign investors are free to acquire control in domestic companies|X|X|X|X|X|X|..|
|Public sector contracts are sufficiently open to foreign bidders|X|X|X|X|X|X|X|
|Real personal taxes are non distortionary|X|X|X|X|X|X|X|
|Real corporate taxes are non distortionary|X|X|X|X|X|X|..|
|<br>Banking regulation does not hinder competitiveness|X|X|X|X|..|..|..|
|Political system as obstacle to development|..|..|..|..|X|X|..|
|Labor regulations hinder business activities|..|X|..|..|..|..|..|
|New Legislation restricts competitiveness|X|X|..|..|..|..|..|
|Subsidies impair economic development|X|X|..|..|..|..|..|
|Ease to start a business|X|X|..|..|..|..|..|
|**Rule of Law**||||||||
|Tax evasion is a common practice in your country|X|X|X|X|X|X|..|
|Justice is not fairly administered in society|X|X|X|X|X|X|X|
|<br>Personal security and private property are not adequately protected|X|X|X|X|X|X|X|
|<br>Parallel economy impairs economic development in your country|X|X|X|X|X|X|X|
|<br>Insider trading is common in the stock market|..|X|X|X|..|..|X|
|<br>Patent and copyright protection is not adequately enforced in your country|X|X|X|X|..|X|X|
|**Control of Corruption**||||||||
|Bribing and corruption exist in the economy|X|X|X|X|X|X|X|

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