Taipei Times:
[quote]Wednesday, Sep 27, 2006,Page 12
Taiwan’s economic competitiveness continued to decline over the past year, with poor scores in terms of institutions and infrastructure, causing the country to slide to 13th place this year in the World Economic Forum’s annual rankings, down from eighth place last year.
The nation’s ranking also fell from being the second-most competitive economy in Asia last year to fourth place this year, after Singapore, Japan and Hong Kong, according to a poll released yesterday.
The poll was conducted for the 27th consecutive year, but only for the second year using a new formula, the forum said.
While Taiwan fared well in terms of innovation and higher education, and performed modestly in the category for public health services and macroeconomics, poor institutions and infrastructure held the country back, the forum said.[/quote]
Read more at: taipeitimes.com/News/biz/arc … 2003329435
I was wondering what “institutions” are.