A Comparative Analysis of the Competitiveness of Central American Countries Based on the Global Competitiveness Index before the COVID-19 Pandemic
Abstract
:1. Introduction
2. Literature Review
- Engineering, which defines a country’s competitiveness based on its companies, is understood as its capacity to maximize its productivity to obtain higher income.
- Environment/systemic, which considers competitiveness to be directly linked to the productivity of companies, but considering environmental factors such as incentives, quality of inputs, and infrastructure.
- Capital development, understanding competitiveness as the ability of firms to accumulate physical, human, and technological capital to modify long-term performance or, also, the ability of firms to obtain income from factor differentiation in international markets.
- Eclectic/Academic considers competitiveness a complex concept composed of specific and selective factors and elements, such as the pillars of competitiveness that make up the World Economic Forum’s global competitiveness model.
3. Data and Methodology
3.1. Data
3.2. Multivariate Analysis
4. Results
- Panama (PAN *, Panama spot values), belonging to cluster 2. Average = 61.639, Median = 58.608, Standard Deviation = 16.226, Skewness coefficient = 0.837, Kurtosis coefficient = 0.396.
- Costa Rica (CRI), El Salvador (SLV), Guatemala (GTM), Honduras (HND), Nicaragua (NIC) belong to cluster 3. Average = 54.448, Median = 52.626, Standard Deviation = 14.585, Skewness coefficient = 2.084, Kurtosis coefficient = 4.475.
5. Discussion
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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GCI Composite Indicators | Year | Average | Median | Std. Deviation | Min. | Max. | Skewness Coef. | Kurtosis Coef. |
---|---|---|---|---|---|---|---|---|
1. Institutions (INST) * | 2018 | 55.399 | 53.561 | 11.495 | 29.466 | 81.554 | 0.436 | −0.426 |
2019 | 55.074 | 53.893 | 11.957 | 25.721 | 81.216 | 0.241 | −0.451 | |
2. Infrastructures (INFRA) | 2018 | 65.359 | 66.987 | 16.049 | 28.574 | 95.704 | −0.309 | −0.607 |
2019 | 65.397 | 67.839 | 16.702 | 26.878 | 95.448 | −0.350 | −0.617 | |
3. ICT Adoption (ADOP_ICT) | 2018 | 52.049 | 54.029 | 19.813 | 12.772 | 81.255 | −0.129 | −0.975 |
2019 | 55.330 | 55.394 | 19.381 | 10.769 | 92.836 | −0.185 | −0.840 | |
4. Macroeconomic Stability (MAC_STAB) * | 2018 | 79.967 | 74.648 | 16.155 | 31.063 | 100.000 | −0.287 | −0.546 |
2019 | 80.083 | 75.000 | 17.625 | 0.000 | 100.000 | −1.019 | 2.373 | |
5. Health (HEALTH) * | 2018 | 75.224 | 79.985 | 19.667 | 11.933 | 100.000 | −0.815 | −0.180 |
2019 | 75.406 | 80.545 | 18.138 | 21.728 | 100.000 | −0.716 | −0.360 | |
6. Skills (SKILLS) | 2018 | 60.613 | 61.698 | 14.924 | 28.248 | 87.878 | −0.289 | −0.743 |
2019 | 61.262 | 63.161 | 14.513 | 29.039 | 86.721 | −0.353 | −0.681 | |
7. Product market (PRO_MAR) | 2018 | 56.561 | 55.700 | 8.183 | 37.517 | 81.230 | 0.242 | 0.307 |
2019 | 55.262 | 54.632 | 8.595 | 35.433 | 81.613 | 0.206 | 0.377 | |
8. Labour market (LAB_MAR) | 2018 | 59.384 | 59.176 | 9.166 | 37.607 | 81.885 | 0.245 | −0.219 |
2019 | 59.980 | 59.822 | 8.753 | 40.905 | 81.229 | 0.180 | −0.374 | |
9. Financial system (FIN_SYS) * | 2018 | 61.469 | 58.797 | 13.726 | 37.170 | 92.117 | 0.577 | −0.583 |
2019 | 62.441 | 59.791 | 14.185 | 29.035 | 91.411 | 0.351 | −0.615 | |
10. Market size (MAR_SIZE) | 2018 | 53.987 | 52.229 | 17.740 | 15.992 | 100.000 | 0.213 | −0.467 |
2019 | 54.504 | 53.500 | 17.428 | 17.125 | 100.000 | 0.235 | −0.418 | |
11. Business dynamism (BUS_DYN) | 2018 | 59.499 | 58.330 | 11.285 | 14.897 | 86.489 | −0.322 | 1.170 |
2019 | 59.955 | 59.795 | 11.411 | 14.071 | 84.210 | −0.589 | 1.398 | |
12. Innovation capability (INNO_CAP) * | 2018 | 42.433 | 36.408 | 17.588 | 16.782 | 87.522 | 0.998 | −0.118 |
2019 | 42.981 | 37.984 | 17.066 | 17.967 | 86.829 | 0.961 | −0.134 | |
Global Competitiveness Index | 2018 | 60.162 | 59.861 | 12.604 | 35.520 | 85.641 | 0.106 | −0.751 |
2019 | 60.639 | 60.929 | 12.427 | 35.085 | 84.784 | 0.058 | −0.741 |
Cluster | Countries |
---|---|
1 (26 countries) | ANGOLA, BENIN, BURKINA FASO, BURUNDI, CAMEROON, CHAD, CONGO, CÔTE D’IVOIRE, ETHIOPIA, GUINEA, HAITI, LESOTHO, LIBERIA, MALAWI, MALI, MAURITANIA, MOZAMBIQUE, NIGERIA, PAKISTAN, SIERRA LEONE, SWAZILAND, TANZANIA, UGANDA, YEMEN, ZAMBIA, ZIMBABWE. |
2 (55 countries) | ALBANIA, ALGERIA, ARGENTINA, ARMENIA, AZERBAIJAN, BANGLADESH, BARÉIN, BOLIVIA, BOSNIA AND HERZEGOVINA, BOTSWANA, BRAZIL, BRUNEI, CAMBODIA, CAPE VERDE, COSTA RICA, CROATIA, CYPRUS, DOMINICAN REPUBLIC, ECUADOR, EGYPT, EL SALVADOR, GAMBIA, GEORGIA, GHANA, GREECE, GUATEMALA, HONDURAS, IRAN, JORDAN, KENYA, KYRGYZSTAN, LAOS, LEBANON, MACEDONIA, MALDIVES, MAURITIUS, MONGOLIA, MONTENEGRO, NAMIBIA, NEPAL, NICARAGUA, PARAGUAY, RUANDA, SENEGAL, SERBIA, SEYCHELLES, SRI LANKA, TAJIKISTAN, TRINIDAD AND TOBAGO, TUNISIA, TURKEY, UKRAINE, URUGUAY, VIETNAM. |
3 (31 countries) | BULGARIA, CHILE, CHINA, COLOMBIA, CZECH REPUBLIC, ESTONIA, HUNGARY, INDONESIA, ITALY, KAZAKHSTAN, KUWAIT, LATVIA, LITHUANIA, MALAYSIA, MALAYSIA, MALTA, MEXICO, MOROCCO, OMAN, PANAMA, PERU, PHILIPPINES, POLAND, PORTUGAL, QATAR, ROMANIA, SAUDI ARABIA, SLOVAK REPUBLIC, SLOVENIA, THAILAND, UNITED ARAB EMIRATES. |
4 (25 countries) | AUSTRALIA, AUSTRIA, BELGIUM, CANADA, DENMARK, FINLAND, FRANCE, GERMANY, HONG KONG, ICELAND, IRELAND, ISRAEL, JAPAN, LUXEMBOURG, NETHERLANDS, NEW ZEALAND, NORWAY, SINGAPORE, SOUTH KOREA, SPAIN, SWEDEN, SWITZERLAND, TAIWAN, UNITED KINGDOM, UNITED STATES OF AMERICA. |
5 (2 countries) | INDIA, SOUTH AFRICA. |
GCI Composite Indicators | Cluster | ||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | |
1. Institutions (INST) | 42.658 | 51.427 | 58.164 | 73.929 | 55.833 |
2. Infrastructures (INFRA) | 40.946 | 62.550 | 74.050 | 85.889 | 68.651 |
3. ICT Adoption (ADOP_ICT) | 23.781 | 48.593 | 63.512 | 76.039 | 37.032 |
4. Macroeconomic Stability (MAC_STAB) | 62.804 | 69.741 | 91.307 | 97.680 | 88.251 |
5. Health (HEALTH) | 43.270 | 76.479 | 84.104 | 95.970 | 51.118 |
6. Skills (SKILLS) | 38.570 | 58.646 | 67.057 | 80.212 | 56.444 |
7. Product market (PRO_MAR) | 47.425 | 54.295 | 59.457 | 67.737 | 53.062 |
8. Labour market (LAB_MAR) | 50.294 | 56.901 | 60.756 | 72.581 | 59.638 |
9. Financial system (FIN_SYS) | 45.756 | 56.508 | 65.175 | 82.984 | 75.818 |
10. Market size (MAR_SIZE) | 40.511 | 46.775 | 62.904 | 69.207 | 80.524 |
11. Business dynamism (BUS_DYN) | 47.654 | 55.431 | 63.583 | 75.563 | 61.279 |
12. Innovation capability (INNO_CAP) | 25.924 | 33.882 | 45.409 | 74.199 | 49.042 |
GCI Composite Indicators | Cluster | ||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | |
1. INST | 42.658 C2,C3,C4 | 51.427 C1,C3,C4 | 58.164 C1,C2,C4 | 73.929 C1,C2,C3 | 55.833 |
2. INFRA | 40.946 C2,C3,C4,C5 | 62.550 C1,C3,C4 | 74.050 C1,C2,C4 | 85.889 C1,C2,C3,C5 | 68.651 C1,C4 |
3. ADOP_ICT | 23.781 C2,C3,C4 | 48.593 C1,C3,C4 | 63.512 C1,C2,C4 | 76.039 C1,C2,C3 | 37.032 |
4. MAC_STAB | 62.804 C2,C3,C4,C5 | 69.741 C1,C3,C4,C5 | 91.307 C1,C2 | 97.680 C1,C2 | 88.251 C1,C2 |
5. HEALTH | 43.270 C2,C3,C4 | 76.479 C1,C3,C4 | 84.104 C1,C2,C4 | 95.970 C1,C2,C3 | 51.118 |
6. SKILLS | 38.570 C2,C3,C4 | 58.646 C1,C3,C4 | 67.057 C1,C2,C4 | 80.212 C1,C2,C3,C5 | 56.444 C4 |
7. PRO_MAR | 47.425 C2,C3,C4 | 54.295 C1,C3,C4 | 59.457 C1,C2,C4 | 67.737 C1,C2,C3 | 53.062 |
8. LAB_MAR | 50.294 C2,C3,C4 | 56.901 C1,C3,C4 | 60.756 C1,C2,C4 | 72.581 C1,C2,C3,C5 | 59.638 C4 |
9. FIN_SYS | 45.756 C2,C3,C4 | 56.508 C1,C3,C4 | 65.175 C1,C2,C4 | 82.984 C1,C2,C3 | 75.818 |
10. MAR_SIZE | 40.511 C3,C4 | 46.775 C3,C4 | 62.904 C1,C2 | 69.207 C1,C2 | 80.524 |
11. BUS_DYN | 47.654 C2,C3,C4 | 55.431 C1,C3,C4 | 63.583 C1,C2,C4 | 75.563 C1,C2,C3,C5 | 61.279 C4 |
12. INNO_CAP | 25.924 C2,C3,C4 | 33.882 C1,C3,C4 | 45.409 C1,C2,C4 | 74.199 C1,C2,C3 | 49.042 |
GCI Composite Indicators | Central American Countries | ||||||
---|---|---|---|---|---|---|---|
Year | Costa Rica (CRI) | El Salvador (SLV) | Guatemala (GTM) | Honduras (HND) | Nicaragua (NIC) | Panama (PAN) | |
1. Institutions (INST) | 2018 | 59.0590 | 40.6698 | 43.5226 | 44.6730 | 43.9360 | 50.8569 |
2019 | 57.1262 | 39.8444 | 42.4459 | 43.7889 | 41.8889 | 51.4129 | |
2. Infrastructures (INFRA) | 2018 | 65.0822 | 59.7500 | 58.3029 | 58.0190 | 55.2416 | 68.3043 |
2019 | 68.7386 | 61.0201 | 55.8500 | 57.3979 | 55.5954 | 69.4727 | |
3. ICT Adoption (ADOP_ICT) | 2018 | 59.6071 | 39.4859 | 31.0734 | 28.1220 | 31.9802 | 47.5176 |
2019 | 59.9677 | 40.6399 | 37.7340 | 30.1710 | 35.8776 | 50.0603 | |
4. Macroeconomic Stability (MAC_STAB) | 2018 | 72.9971 | 74.8716 | 74.3768 | 74.1620 | 74.0424 | 89.8051 |
2019 | 74.3482 | 69.7430 | 74.8058 | 74.6734 | 73.5053 | 90.0000 | |
5. Health (HEALTH) | 2018 | 97.3820 | 82.7442 | 74.5727 | 75.8393 | 90.3676 | 91.8050 |
2019 | 93.2328 | 78.1180 | 73.9648 | 77.8311 | 90.0059 | 92.0125 | |
6. Skills (SKILLS) | 2018 | 69.0822 | 48.2658 | 52.5752 | 48.2499 | 45.5488 | 58.1668 |
2019 | 68.9541 | 48.4393 | 51.3830 | 49.5189 | 46.7982 | 58.4650 | |
7. Product market (PRO_MAR) | 2018 | 60.4175 | 54.0008 | 61.1210 | 56.9334 | 53.7589 | 57.9514 |
2019 | 59.3794 | 53.9390 | 58.9903 | 55.3169 | 51.3914 | 59.2315 | |
8. Labour market (LAB_MAR) | 2018 | 59.7191 | 52.2354 | 51.3272 | 56.3724 | 52.7885 | 56.4554 |
2019 | 59.0925 | 53.4133 | 50.9283 | 55.9451 | 53.2354 | 56.2813 | |
9. Financial system (FIN_SYS) | 2018 | 59.7935 | 60.0994 | 57.3572 | 59.7968 | 54.0079 | 66.8837 |
2019 | 60.0613 | 62.2506 | 57.5215 | 59.7914 | 53.1308 | 67.6324 | |
10. Market size (MAR_SIZE) | 2018 | 46.1955 | 43.1644 | 50.8351 | 41.9480 | 39.6580 | 48.8838 |
2019 | 46.5381 | 42.8516 | 51.2039 | 42.4852 | 39.1523 | 49.0378 | |
11. Business dynamism (BUS_DYN) | 2018 | 55.8959 | 51.6279 | 54.5500 | 53.9064 | 49.6468 | 58.2861 |
2019 | 56.3278 | 52.6886 | 55.8112 | 53.9574 | 49.8266 | 58.7510 | |
12. Innovation capability (INNO_CAP) | 2018 | 40.4334 | 26.9207 | 30.7385 | 31.5131 | 27.0373 | 37.4883 |
2019 | 40.3006 | 27.9165 | 31.5489 | 30.6355 | 27.8485 | 37.3077 | |
Global Competitiveness Index | 2018 | 62.1387 | 52.8196 | 53.3627 | 52.4613 | 51.5012 | 61.0337 |
2019 | 62.0056 | 52.5720 | 53.5156 | 52.6261 | 51.5213 | 61.6388 |
GCI Composite Indicators | Cluster 2 (PAN) ** | Cluster 3 (CRI, SLV, GTM, HND, NIC) | Difference in Averages | Sig. Mann–Whitney–Wilcoxon *** |
---|---|---|---|---|
1. INST * | 51.4129 | 45.019 | 6.394 | 0.000 |
2. INFRA | 69.4727 | 59.720 | 9.752 | 0.000 |
3. ADOP_ICT * | 50.0603 | 40.878 | 9.182 | 0.000 |
4. MAC_STAB | 90.0000 | 73.415 | 16.585 | 0.000 |
5. HEALTH | 92.0125 | 82.631 | 9.382 | 0.002 |
6. SKILLS * | 58.4650 | 53.019 | 5.446 | 0.000 |
7. PRO_MAR | 59.2315 | 55.803 | 3.428 | 0.000 |
8. LAB_MAR * | 56.2813 | 54.523 | 1.758 | 0.009 |
9. FIN_SYS | 67.6324 | 58.551 | 9.081 | 0.000 |
10. MAR_SIZE | 49.0378 | 44.446 | 4.592 | 0.000 |
11. BUS_DYN * | 58.7510 | 53.722 | 5.029 | 0.000 |
12. INNO_CAP | 37.3077 | 31.6500 | 5.658 | 0.000 |
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Melara-Gálvez, C.; Morales-Fernández, E.J. A Comparative Analysis of the Competitiveness of Central American Countries Based on the Global Competitiveness Index before the COVID-19 Pandemic. Sustainability 2022, 14, 8854. https://doi.org/10.3390/su14148854
Melara-Gálvez C, Morales-Fernández EJ. A Comparative Analysis of the Competitiveness of Central American Countries Based on the Global Competitiveness Index before the COVID-19 Pandemic. Sustainability. 2022; 14(14):8854. https://doi.org/10.3390/su14148854
Chicago/Turabian StyleMelara-Gálvez, César, and Emilio J. Morales-Fernández. 2022. "A Comparative Analysis of the Competitiveness of Central American Countries Based on the Global Competitiveness Index before the COVID-19 Pandemic" Sustainability 14, no. 14: 8854. https://doi.org/10.3390/su14148854