Understanding the Global Competitiveness Index (GCI) Indicators

The Global Competitiveness Index (GCI) is a widely recognized assessment published annually by the World Economic Forum (WEF). It measures the set of institutions, policies, and factors that determine the level of productivity of a country. The index provides a comprehensive picture of the competitiveness landscape of countries around the globe.

Global Competitiveness Index 2016-17 Framework

The 2016-17 edition of the Global Competitiveness Index was based on a framework structured around 12 pillars. These pillars are grouped into three main sub-indexes, which broadly correspond to different stages of economic development:

1. Basic Requirements
2. Efficiency Enhancers
3. Innovation and Sophistication Factors

Let's examine the indicators mentioned in the question in the context of this framework.

Analyzing the Proposed Indicators for GCI 2016-17

The question asks which of the listed indicators were used by the World Economic Forum to calculate the Global Competitiveness Index for 2016-17. Let's evaluate each one:

1. Efficiency enhancer sub index: This is one of the three main sub-indexes used in the GCI framework, particularly relevant for economies in the transition from being factor-driven to efficiency-driven. It includes pillars like higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, and market size. Therefore, the Efficiency enhancer sub index was indeed used.
2. Innovation and sophistication factors sub index: This is also one of the three main sub-indexes in the GCI framework, crucial for economies at the innovation-driven stage of development. It comprises pillars related to business sophistication and innovation. Thus, the Innovation and sophistication factors sub index was used.
3. Life expectancy enhancer sub index: While life expectancy is an important indicator of a country's health and human capital, it is typically a component or a specific data point within a broader pillar like 'Health and primary education' under the 'Basic Requirements' sub-index, not a separate sub-index titled "Life expectancy enhancer sub index" in the GCI framework.

Based on the structure and components of the Global Competitiveness Index used by the World Economic Forum for the 2016-17 report, only the Efficiency enhancer sub index and the Innovation and sophistication factors sub index were explicitly included as major sub-indexes.

Conclusion on GCI 2016-17 Indicators

Considering the detailed framework of the World Economic Forum's Global Competitiveness Index for 2016-17, the indicators used from the list provided are:

• Efficiency enhancer sub index
• Innovation and sophistication factors sub index

The 'Life expectancy enhancer sub index' is not a recognized main sub-index in the GCI methodology.

Therefore, the correct combination of indicators from the given list is 1 and 2 only.

Revision Table: GCI 2016-17 Structure

Additional Information on Global Competitiveness Index

The Global Competitiveness Index aims to provide insights for policymakers and business leaders to identify obstacles to productivity growth and prosperity. The 12 pillars of the GCI framework in 2016-17 were:

• Institutions
• Infrastructure
• Macroeconomic environment
• Health and primary education
• Higher education and training
• Goods market efficiency
• Labor market efficiency
• Financial market development
• Technological readiness
• Market size
• Business sophistication
• Innovation

These pillars were grouped under the three main sub-indexes: Basic Requirements (Pillars 1-4), Efficiency Enhancers (Pillars 5-10), and Innovation and Sophistication Factors (Pillars 11-12).