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2.1: Country/Economy Profiles Dominican Republic Key indicators, 2013 GDP (PPP) per capita (int’l $), 1990–2013 Population (millions) ........................................ 10.4 GDP (US$ billions) .......................................... 60.8 GDP per capita (US$) ................................... 5,834 GDP (PPP) as share (%) of world total ............ 0.12 Dominican Republic 15,000 Latin America and the Caribbean 12,000 9,000 6,000 3,000 0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2012 2010 Global Competitiveness Index Rank (out of 144) Stage of development Score (1–7) GCI 2014–2015 .................................................... 101 ..... 3.8 Transition 1–2 1 GCI 2013–2014 (out of 148) ................................... 105 ......3.8 GCI 2012–2013 (out of 144) ................................... 105 ......3.8 GCI 2011–2012 (out of 142) ................................... 110 ......3.7 Transition 2–3 2 Factor driven 3 Efficiency driven Innovation driven Institutions Basic requirements (40.0%) .....................................106 ......4.0 7 Innovation Institutions .............................................................. 116 ......3.3 Infrastructure ............................................................ 98 ......3.3 Macroeconomic environment ................................... 94 ......4.4 Health and primary education ................................. 107 ......5.0 Infrastructure 6 5 Business sophistication Macroeconomic environment 4 3 2 Efficiency enhancers (50.0%) .....................................90 ......3.8 Market size Higher education and training ................................... 99 ......3.7 Goods market efficiency .......................................... 94 ......4.2 Labor market efficiency .......................................... 107 ......3.8 Financial market development .................................. 99 ......3.7 Technological readiness ............................................ 84 ......3.5 Market size ............................................................... 68 ......3.7 Health and primary education 1 Higher education and training Technological readiness Financial market development Goods market efficiency Labor market efficiency Innovation and sophistication factors (10.0%) ...........90 ......3.4 Business sophistication ........................................... 73 ......3.9 Innovation ............................................................... 103 ......3.0 Domincan Republic Latin America and the Caribbean The most problematic factors for doing business Tax rates............................................................................15.6 Access to financing ...........................................................11.5 Corruption .........................................................................10.4 Inflation ................................................................................9.0 Inadequately educated workforce ........................................8.9 Inefficient government bureaucracy .....................................7.5 Crime and theft ...................................................................5.4 Poor public health ...............................................................5.1 Restrictive labor regulations .................................................5.0 Poor work ethic in national labor force ................................4.7 Tax regulations ....................................................................4.4 Inadequate supply of infrastructure ......................................4.3 Insufficient capacity to innovate ...........................................3.4 Foreign currency regulations ................................................2.8 Policy instability ...................................................................1.0 Government instability/coups ..............................................0.9 0 Note: 5 10 15 Percent of responses From the list of factors above, respondents were asked to select the five most problematic for doing business in their country and to rank them between 1 (most problematic) and 5. The bars in the figure show the responses weighted according to their rankings. 170 | The Global Competitiveness Report 2014–2015 © 2014 World Economic Forum 20 25 30 2.1: Country/Economy Profiles Dominican Republic The Global Competitiveness Index in detail INDICATOR VALUE RANK/144 INDICATOR 1st pillar: Institutions VALUE RANK/144 6th pillar: Goods market efficiency (cont’d.) 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 Property rights ....................................................... 3.8 ............90 Intellectual property protection ............................... 3.2 ............95 Diversion of public funds ........................................ 2.1 ..........132 Public trust in politicians ......................................... 2.0 ..........128 Irregular payments and bribes ................................ 3.3 ..........107 Judicial independence............................................ 2.5 ..........121 Favoritism in decisions of government officials ....... 2.2 ..........132 Wastefulness of government spending ................... 2.4 ..........118 Burden of government regulation ........................... 3.4 ............81 Efficiency of legal framework in settling disputes .... 3.4 ............86 Efficiency of legal framework in challenging regs. ... 3.4 ............65 Transparency of government policymaking............. 4.2 ............54 Business costs of terrorism .................................... 4.9 ............89 Business costs of crime and violence..................... 3.3 ..........121 Organized crime ..................................................... 4.0 ..........115 Reliability of police services .................................... 2.6 ..........139 Ethical behavior of firms ......................................... 3.4 ..........124 Strength of auditing and reporting standards ......... 4.5 ............75 Efficacy of corporate boards .................................. 4.6 ............62 Protection of minority shareholders’ interests ......... 4.1 ............75 Strength of investor protection, 0–10 (best)* .......... 5.0 ............83 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 Quality of overall infrastructure ............................... 3.7 ............93 Quality of roads ...................................................... 4.4 ............53 Quality of railroad infrastructure ....................... N/Appl. ...........n/a Quality of port infrastructure ................................... 4.6 ............52 Quality of air transport infrastructure....................... 4.8 ............52 Available airline seat km/week, millions* ............. 388.8 ............49 Quality of electricity supply ..................................... 2.4 ..........128 Mobile telephone subscriptions/100 pop.* ........... 88.4 ..........109 Fixed telephone lines/100 pop.* ........................... 11.3 ............85 3.01 3.02 3.03 3.04 3.05 Government budget balance, % GDP*................. –3.6 ............85 Gross national savings, % GDP* .......................... 11.6 ..........123 Inflation, annual % change* .................................... 4.8 ............90 General government debt, % GDP* ..................... 33.8 ............47 Country credit rating, 0–100 (best)* ...................... 39.8 ............79 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 Malaria cases/100,000 pop.* ............................... 12.7 ............19 Business impact of malaria .................................... 5.2 ............28 Tuberculosis cases/100,000 pop.* ....................... 62.0 ............80 Business impact of tuberculosis ............................. 5.0 ............93 HIV prevalence, % adult pop.* ............................... 0.7 ............97 Business impact of HIV/AIDS ................................. 4.8 ............96 Infant mortality, deaths/1,000 live births* .............. 22.8 ............93 Life expectancy, years*......................................... 73.2 ............82 Quality of primary education ................................... 2.2 ..........138 Primary education enrollment, net %* .................. 86.5 ..........110 5.01 5.02 5.03 5.04 5.05 5.06 5.07 5.08 Secondary education enrollment, gross %* .......... 75.9 ............97 Tertiary education enrollment, gross %*................ 34.1 ............75 Quality of the education system ............................. 2.6 ..........132 Quality of math and science education .................. 2.1 ..........142 Quality of management schools ............................. 3.6 ..........109 Internet access in schools ...................................... 3.5 ..........104 Availability of research and training services ........... 4.1 ............74 Extent of staff training ............................................ 3.9 ............86 2nd pillar: Infrastructure 6.06 6.07 6.08 6.09 6.10 6.11 6.12 6.13 6.14 6.15 6.16 No. procedures to start a business* .......................... 7 ............78 No. days to start a business* ............................... 18.5 ............87 Agricultural policy costs.......................................... 3.9 ............67 Prevalence of trade barriers ................................... 4.1 ..........102 Trade tariffs, % duty* .............................................. 7.4 ............86 Prevalence of foreign ownership............................. 5.1 ............39 Business impact of rules on FDI ............................. 4.4 ............77 Burden of customs procedures .............................. 4.4 ............51 Imports as a percentage of GDP* ........................ 30.7 ..........115 Degree of customer orientation .............................. 4.4 ............76 Buyer sophistication ............................................... 3.1 ............98 7.01 7.02 7.03 7.04 7.05 7.06 7.07 7.08 7.09 7.10 Cooperation in labor-employer relations ................. 4.5 ............55 Flexibility of wage determination ............................. 5.2 ............55 Hiring and firing practices ....................................... 4.0 ............61 Redundancy costs, weeks of salary* .................... 26.2 ..........116 Effect of taxation on incentives to work .................. 2.9 ..........118 Pay and productivity............................................... 3.8 ............83 Reliance on professional management ................... 3.7 ..........103 Country capacity to retain talent............................. 3.3 ............82 Country capacity to attract talent ........................... 3.3 ............76 Women in labor force, ratio to men* ..................... 0.67 ..........102 8.01 8.02 8.03 8.04 8.05 8.06 8.07 8.08 Availability of financial services ............................... 4.8 ............52 Affordability of financial services ............................. 3.8 ............99 Financing through local equity market .................... 2.8 ..........105 Ease of access to loans ......................................... 2.8 ............75 Venture capital availability ....................................... 2.6 ............83 Soundness of banks .............................................. 5.6 ............45 Regulation of securities exchanges ........................ 3.8 ............87 Legal rights index, 0–10 (best)* ................................. 3 ..........113 9.01 9.02 9.03 9.04 9.05 9.06 9.07 Availability of latest technologies ............................ 5.0 ............60 Firm-level technology absorption ............................ 4.5 ............77 FDI and technology transfer ................................... 5.1 ............29 Individuals using Internet, %* ............................... 45.9 ............74 Fixed broadband Internet subscriptions/100 pop.* ... 4.7 ............83 Int’l Internet bandwidth, kb/s per user* ................ 16.9 ............89 Mobile broadband subscriptions/100 pop.*.......... 25.4 ............72 10.01 10.02 10.03 10.04 Domestic market size index, 1–7 (best)*................. 3.6 ............67 Foreign market size index, 1–7 (best)* .................... 4.2 ............81 GDP (PPP$ billions)* .......................................... 103.2 ............69 Exports as a percentage of GDP* ........................ 25.6 ..........112 11.01 11.02 11.03 11.04 11.05 11.06 11.07 11.08 11.09 Local supplier quantity ........................................... 4.7 ............61 Local supplier quality.............................................. 4.4 ............72 State of cluster development.................................. 3.7 ............80 Nature of competitive advantage ............................ 2.9 ..........115 Value chain breadth................................................ 3.9 ............65 Control of international distribution ......................... 4.1 ............59 Production process sophistication.......................... 3.7 ............81 Extent of marketing ................................................ 4.4 ............58 Willingness to delegate authority ............................ 3.7 ............76 12.01 12.02 12.03 12.04 12.05 12.06 12.07 Capacity for innovation........................................... 3.7 ............74 Quality of scientific research institutions ................. 2.9 ..........113 Company spending on R&D................................... 2.8 ..........108 University-industry collaboration in R&D ................. 3.3 ............94 Gov’t procurement of advanced tech products ...... 3.6 ............59 Availability of scientists and engineers .................... 3.3 ..........115 PCT patents, applications/million pop.* .................. 0.5 ............80 7th pillar: Labor market efficiency 8th pillar: Financial market development 3rd pillar: Macroeconomic environment 4th pillar: Health and primary education 5th pillar: Higher education and training 6th pillar: Goods market efficiency 6.01 6.02 6.03 6.04 6.05 Intensity of local competition .................................. 5.0 ............72 Extent of market dominance .................................. 3.2 ..........116 Effectiveness of anti-monopoly policy ..................... 3.8 ............90 Effect of taxation on incentives to invest................. 3.1 ..........121 Total tax rate, % profits* ....................................... 43.5 ............93 9th pillar: Technological readiness 10th pillar: Market size 11th pillar: Business sophistication 12th pillar: Innovation Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, please refer to the section “How to Read the Country/Economy Profiles” on page 101. © 2014 World Economic Forum The Global Competitiveness Report 2014–2015 | 171