By Simon Richmond
“Southeast Asia’s exceptional trio supply steamy jungles filled with flora and fauna, appealing shores, idyllic islands, culinary sensations and multi-ethnic culture.” Simon Richmond, Lonely Planet Writer
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Extra resources for Lonely Planet Malaysia Singapore & Brunei (Travel Guide)
8. Much attention has recently been paid to the functioning of financial markets. The Financial market development pillar captures two major factors that contribute to competitiveness: the efficiency of the financial system as a source of finance for businesses and the stability and trustworthiness of the financial system. 9. Technological readiness reflects a country’s ability to adopt the latest technologies and use them to increase domestic productivity. We distinguish between adoption of technology and technological innovation, as these two factors affect competitiveness in different ways.
This report is the result of a joint effort with the economies of the Central Asia region to enhance their competitiveness by addressing the following questions: ● Which policies to address as a priority to enhance competitiveness? ● What is the most effective way to implement these policies and reforms? ● How to enhance public-private sector dialogue? ● Which indicators measure most accurately the competitiveness performance in the region? Notes 1. The definition of competitiveness proposed by OECD was also adopted by the European Commission as “the ability of companies, industries and regions, nations or supranational regions to generate, while being and remaining exposed to international competition, relatively high factor income and factor employment levels on a sustainable basis” (Pelkmans, J.
Hemmings, P. ”, OECD Economics Department Working Papers, No. 445, September. Kaci, M. (2006), “Understanding Productivity: A Primer”, The Canadian Productivity Review, Ottawa Canada. P. (2006), “Measuring Competitiveness”, IMF Working Paper, WP/06/209, International Monetary Fund, Washington DC. Organisation for Economic Co-operation and Development (OECD) (2002), OECD Manual: Measuring Productivity. Measurement of Aggregate and Industry-Level Productivity Growth, OECD, Paris. 30 COMPETITIVENESS AND PRIVATE SECTOR DEVELOPMENT: CENTRAL ASIA 2011 © OECD 2011 1.