Since 2005, the World Economic Forum has based its competitiveness analysis on the Global Competitiveness Index (GCI), a comprehensive tool that measures the microeconomic and macroeconomic foundations of national competitiveness. ... First Pillar - Institutions The institutional environment is determined by the legal and administrative framework within which individuals, firms, and governments interact to generate wealth. ... The role of institutions goes beyond the legal framework. ...

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• Grade Level: Graduate