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Global Talent Competitiveness Index. Launched for the first time in 2013, the Global Talent Competitiveness Index (GTCI) is an annual benchmarking report that measures the ability of countries to compete for talent.
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[1] Global Talent Competitiveness Index Launched for the first time in 2013, the Global Talent Competitiveness Index (GTCI) is an annual benchmarking report that measures the ability of countries to compete for talent.
With this sixth edition addressing the theme of "Entrepreneurial Talent and Global Competitiveness", GTCI aims to advance the current debate around entrepreneurial talent, providing practical tools and approaches to leverage the full potential of individuals and teams as an engine and a basis for innovation, growth, and ultimately competitiveness. One of the key working assumptions on which this report is based is that entrepreneurial talent cannot be reduced to some innate quality found in successful business founders and leaders. It should rather be regarded as an input to growth, innovation, and employment creation that can be measured and nurtured. There are conditions underwhich entrepreneurial talent can thrive and be stimulated. There are others under which it will be stifled, to remain an untapped or wasted resource. Multiple examples exist around the world of successful waysto generate, grow, attract and retain entrepreneurial talent, from entrepreneurs, from employers and from governments. Such examples deserve due consideration, as well as the ways inwhich they can be adapted to specific local contexts.
The report, which covers 125 economies and 114 cities, is based on research conducted by INSEAD (led by Pr. Bruno Lanvin and Professor Felipe Monteiro) in partnership with The Adecco Group and Tata Communications. ! |2013|| |2014 |2015 |2016 |2017 |2018 |2019!
The index is usually computed monthly, or quarterly in some countries, as a weighted average of sub-indices for different components of consumer expenditure, such as food, housing, shoes, clothing, each of which is in turn a weighted average of sub-sub-indices. At the most detailed level, the elementary aggregate level, (for example, men's shirts sold in department stores in San Francisco), detailed weighting information is unavailable, so indices are computed using an unweighted arithmetic or geometric mean of the prices of the sampled product offers. (However, the growing use of scanner data is gradually making weighting information available even at the most detailed level.) These indices compare prices each month with prices in the price-reference month. The weights used to combine them into the higher-level aggregates, and then into the overall index, relate to the estimated expenditures during a preceding whole year of the consumers covered by the index on the products within its scope in the area covered. Thus the index is a fixed-weight index, but rarely a true Laspeyres index, since the weight-reference period of a year and the price-reference period, usually a more recent single month, do not coincide.
Ideally, the weights would relate to the composition of expenditure during the time between the price-reference month and the current month. There is a large technical economics literature on index formulas which would approximate this and which can be shown to approximate what economic theorists call a true cost-of-living index. Such an index would show how consumer expenditure would have to move to compensate for price changes so as to allow consumers to maintain a constant standard of living. Approximations can only be computed retrospectively, whereas the index has to appear monthly and, preferably, quite soon. Nevertheless, in some countries, notably in the United States and Sweden, the philosophy of the index is that it is inspired by and approximates the notion of a true cost of living (constant utility) index, whereas in most of Europe it is regarded more pragmatically.
The coverage of the index may be limited. Consumers' expenditure abroad is usually excluded; visitors' expenditure within the country may be excluded in principle if not in practice; the rural population may or may not be included; certain groups such as the very rich or the very poor may be excluded. Saving and investment are always excluded, though the prices paid for financial services provided by financial intermediaries may be included along with insurance.
The index reference period, usually called the base year, often differs both from the weight-reference period and the price-reference period. This is just a matter of rescaling the whole time-series to make the value for the index reference-period equal to 100. Annually revised weights are a desirable but expensive feature of an index, for the older the weights the greater is the divergence between the current expenditure pattern and that of the weight reference-period.