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18:30 Country competitiveness (world economy forum 2011) Basic requirements  factor driven economies Institutions  Infrastructure Macroeconomic environment Health and primary education  Efficiency enhancers efficiency driven economies Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size  Innovation and sophistication factors innovation drive  Business sophistic action  Innovation  9/20/11 Em is different from DM—cross sectional 
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Market structure Real economy= formal economy + informal economy  Informal economy—not formally recorded  GDP= private consumption (consumer market) + gross investment (business markets) +  government spending (government markets) + exports – imports (international markets)  Consumer markets  China  Population: 1332m  PPP/Per Capita: $6000 India  Population: 1168m  PPP/Per capita: $2800 Japan  Population 127m  PPP/Per Capita: $34200 India + Japan  Population: 1295
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91511 - 18:30...

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