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9.27.2006

Global Competitiveness Reports

With so many "Great Minds" running around and proclaiming "Expert Opinions", it is unavoidable for the public to get confused. A good example is the Global Competitiveness Index, with the Philippines, as a case in point.

Despite the recent climb of its currency (Peso), the increasing Forex reserves of its Central Bank and the successful restructuring of its foreign debts, the Philippines went down to #126 (from 121) in the 2006 annual global competitiveness rank, according to a study conducted by the World Bank.

In contrast, two similar studies (released earlier) showed gains. Reports published by the World Competitiveness Center (WCC) and the World Economic Forum(WEF) both showed upgrades by a few steps. WCC reported the Philippines to have climbed from from #51 to #49, while WEF's study showed an ascend from #73 to #71.

The contrasting reports, therefore leads to a number of questions, including:
- Which study is the most reliable?; and,
- How are the Global Competitiveness Ranks determined?

To be able to find the answers, all three studies mentioned will have to be scrutinized.

En este momento, kindly enlighten us.. What do you think?

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