In Pictures
Major Trading Currencies
World Market Watch
Crude Oil
Management Tips
Your first obligation is to the customer. Without customers you don’t have a business. Treat them with the same respect you expect when you are a customer. Make sure everyone in your organization understands the importance of customer service.
- General News
- ICT
- Tourism
- Insurance
- Investment
- Oil And Gas
- Politics
- Sports
- Feature Articles
- Editorials/Opinion
- Entertainment
- Africa/International
You Are Here: Home » Africa/International, Second Lead » Ghana ahead of Nigeria in prosperity index
Ghana has come ahead of Nigeria in the over all ranking of the 2009 Legatum Prosperity Index released recently. Out of the 104 countries surveyed Ghana stands at 79 and Nigeria ranks 98 in the study that looks at the factors in a country that could produce prosperity. On top of the table is Finland and at the bottom is Zimbabwe.
The Legatum Prosperity Index is the world’s only global assessment of wealth and wellbeing; unlike other studies that rank countries by actual levels of wealth, life satisfaction or development, the Prosperity Index produces rankings based upon the very foundations of prosperity – those factors that help drive economic growth and produce happy citizens over the long term, the Legatum Institute has said on its website.
The Legatum Institute is an independent research, policy, and advocacy organization based in London.
According to the Institute, the Prosperity Index accounts for 90% of the world’s population and is based on years of statistical analysis and research of objective data and subjective responses to surveys.
The data comprises 79 different variables organised into nine sub indexes – each identified as a foundation of long-term prosperity. A country’s performance in each sub-index is given a score, and the overall Prosperity Index rankings are produced by averaging the scores of the nine sub-indexes for each country. Those countries that perform well across each sub-index do best in the overall rankings.
The nine sub-indexes are:
· Economic Fundamentals – a growing, sound economy that provides opportunities for wealth creation
· Entrepreneurship and Innovation – an environment friendly to new enterprises and the commercialisation of new ideas
· Democratic Institutions – transparent and accountable governing institutions that promote economic growth
· Education – an accessible, high-quality educational system that fosters human development
· Health – the physical wellbeing of the populace
· Safety and Security – a safe environment in which people can pursue opportunity
· Governance – an honest and effective government that preserves order and encourages productive citizenship
· Personal Freedom – the degree to which individuals can choose the course of their lives
· Social Capital – trustworthiness in relationships and strong communities.
Between the two West African nations, Ghana ranked at 94 for Economic Fundamentals, while Nigeria ranks 99. Nigeria did better than Ghana under Entrepreneurship and Innovation than Ghana. Nigeria ranks 94 and Ghana stands at 103.
Ghana did better under Democratic Institutions and Personal Freedom ranking at 48 and 54 respectively while Nigeria ranks at 78 and 92 respectively. And when it comes to Social Capital, Nigeria does better than Ghana. Nigeria ranks 16 and Ghana ranks at 24.
By Emmanuel K. Dogbevi
| 
| Tweet This! |