SMS Collections Wallpapers
revatio online salespfizer viagra 100mg priceamerican cialis distributorsbetamethasone cream 0 05 uk buy puchasebuy letrozole gynecomastiacheapviagrausabuy jumex online medication doctor"drugstore"pharmacystore"here"canada healthcare mallcheapst celebrex from mexicowhere to buy viagra in illinois
drugs no prescription needed canadiancanada pills online for klonopinvipps pharmacylevitra maximum dosagevisit site canadasildenafil generico in farmacia para que sirvemeclizine over the counter dosage

Most Prosperous Nations of The World

Posted by Kokolicious on October 24th, 2008


 The World Prosperity Index 2008, which calculates a country’s prosperity on the basis of economic competitiveness and comparative liveability, has been prepared by assessing drivers of prosperity based on 22 key indicators and 44 sub-indicators.

Of the 104 countries analysed this year, India ranks a poor 70th. Reason: low quality of secondary education, high cost of starting a business, and lack of government effectiveness.


 India- Rank 70

"India has a relatively entrepreneurial culture. It requires government effectiveness and the tackling of corruption," Alan McCormick, managing director, Legatum Institute, which has brought out the index, told PTI.

India has an exceptionally weak score in commercialising new ideas via entrepreneurship, a factor which the Index identifies as a major contributor to growth.

India’s score in terms of entrepreneurship is surprisingly better than Austria at 2 and Canada at 14. It, however, is doing a lot in terms of commercialising innovation.

The increase in capital and education costs contributes directly to the value of physical and human capital and thus directly increases economic output.

Poor governance and excessive bureaucracy impose costs on business and thus restrain growth, said the report, which was released last week.

The Institute also ranks India at No 10 on its ‘Who’s Going Places’ list, with China on No 6.

"India outstrips many South Asian nations in various aspects of wealth creation. It ranks stronger with reference to other Asian countries in terms of avoiding dependence on commodity exports and foreign aid," McCormick said.


Pakistan- Rank 85

The country is largely impoverished and prone to earthquakes, floods, and crop failure.

The economy suffers from large budgetary and trade deficits and high inflation and a high rate of unemployment (estimated to be 7.5% in 2007). Child labour is widespread.

Pakistan’s turbulent political system is destabilised by corruption, assassination, and frequent interventions by the military.

Swamped by the recent global crisis, Pakistan is on the verge of bankruptcy and it has approached the International Monetary Fund for aid.


Bangladesh-Rank 89

This highly populated and impoverished democracy of 150 million people is burdened with natural disasters, chaotic government and illiteracy.

Corruption is prevalent in politics and the judiciary, and protests over electoral irregularities led to the suspension of democracy by the military in 2007.

Natural disasters occur frequently, and cyclone Sidr took over 5,000 lives in November 2007.

Despite this, the economy continues to grow at around 6%, driven by remittances and exports of low-cost garments.

The government’s human rights record is poor, with reports of serious abuses by Bangladeshi security forces and widespread intimidation of journalists.

Bangladesh ranks a consistent 86th and 87th in Economic Competitiveness and Comparative Liveability respectively. The country suffers from severe deficiencies in trade freedom, government regulation, and having someone to rely on.

 Australia- Rank 1

Since market deregulation in the 1980s, the ‘Lucky Country’ has established itself as a wealthy service-oriented economy.

Australia’s expansion has created labour shortages and led to increased immigration levels, with one in four of the population born overseas.

However, rising prosperity has not included much of Australia’s indigenous population, and the nation faces long-term environmental challenges ahead.

Natural assets such as the Great Barrier Reef are at risk of severe deterioration, and in 2008 the country faced its worst drought in recorded history.

Australia ranks higher in terms of investing productively via good governance, commercialising new ideas via better education and building social support through community life. India scores low in all these factors.


Austria- Rank 2

Austria is a wealthy parliamentary democracy that has remained peaceful and politically stable since regaining its independence in 1955.

Since the early 1990s, Austrian governments have followed a business-friendly programme of privatisation and deregulation, although income tax rates remain relatively high.

Austria has successfully established itself as a ‘Gateway to the East’, providing financial services to both central and Eastern Europe.

Tourism is also an important economic sector, with 17 million visitors annually drawn by Austria’s cultural history and the opportunities for outdoor pursuits.


 Finland-  Rank 2

Finland scores highly across most indicators, and as a result joins Austria in second place.

Finland is noted for its progressive social policies, and it has one of the highest levels of educational attainment and lowest incarceration rates in the world.

Finns have also tended to give high priority to environmental issues, and are world leaders in lowering pollution and ensuring sustainable development.

Finland has transformed itself, from a predominantly agrarian economy at the end of World War II, to a sophisticated modern state with per capita income levels to rival any country in Europe.

Despite this, growth is restricted by one of the oldest populations in the European Union and an inflexible labour market.

Germany-  Rank 4

Germany is one of the top performers in the Prosperity Index, ranking in 4th place with Switzerland, the United States and Singapore.

Germany is Europe’s largest economy.

Nearly two decades since German reunification, there are encouraging signs that massive infrastructure investment is continuing to bring the former Communist east out of its long economic stagnancy.

The German manufacturing sector is world-class, particularly in electronics and automobiles.

Germans live under a robust democracy and enjoy a standard of living that rivals any country in the EU. High personal tax rates feed a large welfare state, and health insurance is compulsory for most taxpayers.

Singapore-  Rank 4

Ranking 4th overall, the country tied with the US and Germany.

Located at the south of the Malay Peninsula, this city-state is one of Asia’s most successful economies, with high levels of personal income, exceptional commercial freedom, and continued success at attracting foreign investment.

With a 4.6 million population, the poverty rates are low and public housing is high-quality and widely available.


United States-  Rank 4

The United States shares the 4th spot in the index with Germany and Singapore.

The USA performs well on most indicators, including religious faith, which is unusual for a wealthy country.

The USA remains the world’s sole global military, economic, and cultural superpower: a position that it has occupied since the end of the Cold War.

Recently, the economy has been buffeted by natural disasters and global credit crunch, the huge cost of reconstruction in Iraq, and a national collapse in the housing market.

National infrastructure is also in need of renewal.

Despite widespread affluence and low overall levels of crime, there are many areas of significant poverty, particularly among African-Americans and Hispanics.

Switzerland-  Rank 7

Switzerland’s strength lies in Comparative Liveability (4th) rather than Economic Competitiveness (15th).

Switzerland is a prosperous central European democracy that has one of the highest per capita incomes in the region, and has long had a reputation as a safe haven for investors.

It is noted as one of the most open countries to investment, with a world-class financial industry.

However, economic growth has frequently been sluggish over the last decade.


Hong Kong-  Rank 8

Hong Kong ties for 8th place overall with New Zealand and Denmark.

This ‘Special Administrative Region’ has a high degree of political autonomy, and greater democracy and press freedom than in mainland China.

Since the end of British control in 1997, tourism and investment from Chinese firms on the mainland has boomed. Hong Kong is an advanced and wealthy economy with per capita income well above the average for China.

It offers investors not only a ‘gateway’ to the Chinese market, but also a highly transparent and open investment climate.

Hong Kong residents enjoy long life expectancy and world-class education, although living space is extremely limited for most.

Denmark-  Rank 9

Denmark’s excellent second place for Comparative Liveability is compromised by its 20th place for Economic Competitiveness, leaving it with an overall ranking of 9th, tied with New Zealand.

The poor business ownership rate and international market competitiveness indicators reduce the overall score for Economic Competitiveness.

Denmark’s modern economy is heavily oriented towards foreign trade, and has a flexible labour market and high employment rate.

Government spending accounts for over half of GDP, funded by high levels of personal taxation.

The distribution of wealth is more equal than in almost any other country in the world. Denmark faces the long-term challenge of an ageing population, which may lead to labour shortages and add to an already-large social welfare bill.


New Zealand- Rank 9

New Zealand’s 9th place in the ranking, tied with Denmark, is attributable to a consistently strong score across many of the indicators.

Since a government decision in the 1980s to embrace free market reform, New Zealand has been transformed into a prosperous and diversified economy.

A landmark free-trade agreement with China was signed in April 2008.

As a major agricultural exporter, New Zealand is expected to benefit from high global food prices.

The country’s unspoiled natural beauty attracts many international visitors, with tourism accounting for 9 per cent of GDP.

Source: Rediff

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>