New Chazen Report: Corruption Still Rampant in Emerging Economies
To paraphrase Winston Churchill, you can always count on Americans to do the right thing — after they’ve tried everything else. The new Chazen Index on Confidence in Government, published by the Chazen Institute of International Business at Columbia Business School, shows that US business professionals aren’t terribly confident that their government will make the right economic policy moves in the years ahead. But business leaders in most other countries (Germany is a notable exception) think the United States can conquer its challenges.
The data comes from a survey conducted September 4 – 24, 2013, of Columbia Business School alumni, plus additional business professionals who hold an advanced degree in a business-related field or whose job has strong exposure to international trade and investment. There were 593 respondents from ten countries.
Among other highlights from the survey:
* Corruption remains rampant in emerging economies. More than 40 percent of respondents in India and China listed corruption as a top challenge to growth for their respective economies.
* Germany is the most-admired foreign government among respondents from other countries.
* Emerging economies are expected to grow much more rapidly than developed countries. Respondents’ mean estimate for growth was 4.3 percent over the next decade for emerging economies but only 1.7 percent for developed countries.
* China and India will likely remain star performers. The French economy, on the other hand, is expected to continue to struggle. Respondents’ estimates of growth in France was the lowest among the ten countries surveyed.