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Quality & Quantity
Published in: Quality & Quantity 5/2018

25-11-2017

The Global Competitiveness Index: an alternative measure with endogenously derived weights

Authors: Francesca Petrarca, Silvia Terzi

Published in: Quality & Quantity | Issue 5/2018

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Abstract

We present an alternative method to compute the Global Competitiveness Index (GCI) by means of a partial least squares path model. In particular, making use of the same set of variables defined by the World Economic Forum we compute the composite indicator GCI by means of a structural equations model with endogenously derived weights. World Economic Forum, instead, defines GCI as a combinations of subindexes with weights that are fixed but vary according to the stage of development a country belongs to. The main issue we address is whether the weights of the subindexes change according to different stages of development.
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Appendix
Available only for authorised users
Footnotes
1
We have checked that different possibilities of grouping countries of the transitions stages do not change the following discussion.
 
2
For the measurement model, the manifest variables reported in Table 8 were removed from the final model because both corresponding weights and loadings were not validated by the bootstrap procedure.
 
3
Authors upon request can provide the measurement model results.
 
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Metadata
Title
The Global Competitiveness Index: an alternative measure with endogenously derived weights
Authors
Francesca Petrarca
Silvia Terzi
Publication date
25-11-2017
Publisher
Springer Netherlands
Published in
Quality & Quantity / Issue 5/2018
Print ISSN: 0033-5177
Electronic ISSN: 1573-7845
DOI
https://doi.org/10.1007/s11135-017-0655-8

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