Running Head: CSR: FIRST MOVER DEVELOPING MARKETS

Strategic CSR: First-mover Advantages in Socially Developing Markets

CSR: FIRST MOVER DEVELOPING MARKETS

Abstract
This paper defines the benefits of comprehensive CSR policies in regards to issues of
discrimination and human rights in transnational corporations, as well as the benefits that can be
gained as a first-mover in a socially progressing market. A framework is proposed which identifies
the social and economic status of a market, and provides the ability to identify countries and
markets where a first-mover advantage could be obtained. The benefits and opportunities created
by a comprehensive, yet focused, strategic CSR policy for transnational corporations are
examined. Transnational corporations must use tools to identify markets and countries where a
first-mover strategy could be implemented to gain a sustained competitive advantage in a socially
progressing market.
Keywords: First-mover, advantage, CSR, corporate social responsibility, socially
progressing markets, competitive markets

CSR: FIRST MOVER DEVELOPING MARKETS

Strategic CSR: First-mover Advantages in Socially Developing Markets

Introduction
While social progress and efforts to reduce discrimination have developed relatively
quickly in The Unites States, the same cannot be said for all nations and markets. The state-based
system of global governance has struggled for more than a generation to adjust to the expanding
reach and growing influence of transnational corporations (Ruggie, 2007). Changes in labor and
discrimination laws will continue to evolve and progress in developing markets. Transnational
corporations that are able to be at the forefront of social changes, in regards to labor and
discrimination issues, with a well-implemented corporate social responsibility strategy will gain a
first-mover advantage in these socially developing markets.
Sexual Harassment
Many foreign firms are finding it necessary and beneficial to alter their social and
discriminatory practices (more specifically sexual harassment policies of Japanese firms) when
operating in the United States. Research indicates A survey by the Japanese Ministry of Labor
reported that fifty-seven percent of the 331 companies operating in the United States are likely to
face discrimination suits. In an attempt to reduce these suits from happening, the study also
reports The problems Japanese corporations encounter when doing business in the United States
are evidenced by the intensified desire on the part of Japanese companies to increase awareness
about sexual harassment (Efron, 1999). Japanese firms found that increased awareness regarding
sexual harassment absolutely necessary when operating in the Unites States. While perhaps not a
necessarily welcome and willing change for the Japanese firms, social progress on the issue of
sexual harassment was a necessity for successful transnational operations among Japanese firms,

CSR: FIRST MOVER DEVELOPING MARKETS

and the firms took efforts to reduce the effect and overall cost of lawsuits in order to compete in a
foreign market.
Ethnic and Cultural Discrimination
A very thorough and comprehensive CSR program is needed to address many subtle
discriminatory differences between different workplaces in different countries operating in the
same transnational corporation. A study found that a seemingly appropriate CSR policy designed
for one workplace did not adequately address the discriminatory differences found in a different
workplace in the same firm. Researchers studied two different offices of a high-tech firm, one in
The United States and the other in India. The research indicated that the seemingly progressive
CSR policies designed for the workplace in the United States did not adequately address the
discriminatory needs of the workplace in India. The United States policy was very focused on
non-discrimination based on gender, while the discriminatory practices in the workplace in India
often revolved around areas of discrimination linked to ethnicity and race (Poster, 2008). This
research indicates the need for not only a broad and comprehensive CSR policy in regards to
discrimination, but a thorough understanding of the social norms and stratification of the countries
and communities in which a transnational corporation operates. Understanding the macro and
micro social issues of countries in which a firm is operating will give the firm a substantial
competitive advantage in the market. Knowing the unique social landscape of socially and
economically emerging markets before competitors will enable a first-mover advantage while their
competitors are dealing with the realities of the social context of the market while the first-mover
competitor has already initiated their strategic CSR program.

CSR: FIRST MOVER DEVELOPING MARKETS

Labor Conditions
There is a need to develop robust and socially progressive corporate social responsibility
programs in regards to labor conditions, or else employee labor groups can mandate progress
when a transnational corporation is unwilling or unable to do so. A small UK-based labor group
known as Women Working Worldwide (WWW) was able to affect change in working conditions
in the clothing industry worldwide in the 1980s. The actions of WWW caused transnational
corporations to develop early versions of CSR programs before they were very common (Hale &
Wills, 2007). This stresses the importance of using a strategic CSR strategy to implement
important social changes before external groups or governments make those changes mandatory
because of inaction by offending firms.
Gender Discrimination
I was interested in examining discriminatory hiring and lack of promotion opportunities for
women employed by transnational corporations. Researchers have found a unique Second glass
ceiling for women in leadership positions in transnational corporations:
The corporate glass ceiling continues to be a challenge for many organizations. However,
women executives may be facing a second pane of obstruction that prevents them from
receiving the foreign management assignments and experience that is becoming increasing
critical for promotion to upper management. (Insch, McIntyre, & Napier, 2008)
This would indicate that otherwise well-qualified women managers are being passed up for
assignments that could ultimately help the firm, which in turn will negatively impact the
performance of the transnational corporation as a whole. Strategic CSR policies that remove

CSR: FIRST MOVER DEVELOPING MARKETS

barriers to top-performing managers, regardless of gender, will prove incredibly valuable to a

transnational corporation and can provide a basis for competitive advantage.
Gender inequality continues to be a global issue. Researcher Rachel J. Anderson suggests
there are specific gender issues related to transnational corporations, and more specifically foreign
direct investment. This study indicates that new laws are needed based on a legal theory of global
corporate citizenship to categorize potential lawmaking according to three principles: Minimize
Harm, Ensure Accountability and Responsibility to Stakeholders, Maximize Benefit (Anderson,
2010). The text for this course defines corporate social responsibility as a view of the corporation
and its role in society that assumes a responsibility among firms to pursue goals in addition to
profit maximization and a responsibility among a firms stakeholders to hold the firm accountable
for its actions (Werther & Chandler, 2011). In the context of progress in terms of gender
inequality, social progress, and CSR, the study above and the course text would indicate that a
strategic approach to handling gender inequality issues, especially in transnational corporations,
could yield benefits and ultimately a competitive advantage in the market.
Transnational Corporation Responsibilities
The need for, and enforcement of, human rights in countries all over the world has been a
common and heated debate. Often lost in this debate is the fact that many transnational
corporations wield significantly more power and hold more wealth than many countries.
Researcher Jordan J. Paust argues that this fact requires transnational corporations to uphold the
same levels of human and social rights that countries are held to:
Large economic institutions are often capable of doing more harm in violation of
international law than private individuals because they often wield more power and wealth

CSR: FIRST MOVER DEVELOPING MARKETS

than individuals, often engage in activities that transcend state boundaries and effective
control, and are often capable of causing more extensive injuries to persons or harm to
property, other resources, and the environment, both domestically and transnationally.
(Paust, 2002)
Many prior legal precedents point to the need of transnational corporations to develop progressive
social and human rights initiatives in their CSR policies to not only protect themselves from law
suits, but also give them a competitive advantage over their competitors who may not have the
same levels of comprehensive CSR policies.
Strategic CSR Policy Benefits
Noting that many transnational corporations wield more power and wealth than many
nations, researchers Florian Wettstein and Sandra Waddock studied what the traditional attitudes
of transnational corporations are in terms of social progress and human rights, and what they
should be. The research indicated that when an appropriate CSR policy was implemented, either
voluntarily or by mandate, there were complementary benefits to the transnational corporation.
The researchers propose a combination of voluntary and mandatory CSR policies for transnational
corporations that will provide a much-needed baseline of social progress and human rights
initiatives, but also a framework of voluntary CSR policies that can produce positive outcomes for
the transnational corporations that choose to adopt them (Wettstein & Waddock, 2005). These
findings indicate a relationship between first-mover corporations in regards to CSR policies and
good outcomes, and therefore competitive advantage in a socially progressing market.

CSR: FIRST MOVER DEVELOPING MARKETS

Social Progress Versus Globally Competitive

I have outlined the benefits of a first-mover strategy in regards to a strategic CSR strategy
in order to gain a competitive advantage in socially progressing markets. How do we define a
socially progressing market and where are first-mover strategies available? First we must define
what a socially progressing market is. I will use two methods to determine the overall social
progress and economic competitiveness of a market. The social progress index1 ranks countries
based on numerous categories under three main headings of: Basic human needs, foundations of
wellbeing, and opportunity (The Social Progress Imperative, 2014). The Global Competitiveness
Index2 ranks countries based on twelve key areas of economic performance (World Economic
Forum, 2014). These two indices will be used to analyze, rank, and determine socially and
economically developing countries.
Examples
Any country or economy with a quickly increasing Global Competitiveness Index score,
and a relatively poor Social Progress Index score will indicate strongly a country or economy
where strategic CSR policies can lead to a sustained competitive advantage. For example, Ecuador
increased its Global Competitive Index rank by 15, going from 86th to 71st, while it was ranked
50th on the Social Progress Index. Ecuadors global economic performance is increasing
dramatically, while there is room for improvement socially. A transnational corporation looking to
enter the Ecuador market could realize a competitive advantage by implementing a strategic CSR
policy which takes into account local responsiveness as well as planning ahead for social progress
to catch up with economic progress. A similar situation can be found in Indonesia. Indonesia

1
2

Appendix A
Appendix B

CSR: FIRST MOVER DEVELOPING MARKETS

jumped from 50th to 38th on Global Competitiveness Index rankings (an increase of 12 spots),
while the Social Progress Index ranking remains relatively low at 88th. Indonesia represents an
opportunity to gain a competitive advantage based on thorough CSR policies in regards to human
rights and social progress. Figure 13 illustrates how a relatively stable, both economically and
socially, country or economy may not be the appropriate market as outlined in this paper, while
examples such as Ecuador and Indonesia, with a low social progress ranking and a large increase
in competitiveness ranking, represent distinct opportunities for the processes outlined thus far.
Findings and Conclusions
The benefits and reasons for a comprehensive CSR policy for transnational corporations
have been researched and studied at length, but the ability to obtain a first-mover advantage, and
ultimately a competitive advantage, in a socially-progressing market is something that cannot be
ignored. Implementing a comprehensive, yet focused, CSR strategy for each market served by a
transnational corporation gives a firm the ability to prepare for social and labor issues before they
are even at the forefront. Competitors in the market will need to scramble to implement a CSR
policy appropriate to the market, or be mandated policies by governments or labor groups, which
will be less effective and more costly than a strategic CSR policy laid out beforehand to
appropriately deal with the evolving social context of the market. Using the Social Progress Index
and the Global Competitiveness Index allows transnational firms the ability to analyze the social
and economic situations in the market, and what changes may be taking place. The combination of
understanding the benefits of a strategic CSR policy, and the ability to find opportunities for a
first-mover advantage can provide a transnational corporation a basis for sustained competitive
advantage in the market.

Appendix C

CSR: FIRST MOVER DEVELOPING MARKETS

10

References
Anderson, R. J. (2010). Promoting Distributional Equality for Women: Some Thoughts on Gender
and Global Corporate Citizenship in Foreign Direct Investment. Scholarly Works, 543.
Efron, J. M. (1999). The Transnational Application of Sexual Harassment Laws: A Cultural
Barrier in Japan. University of Pennsylvania Journal of International Economic Law, 1-44.
Hale, A., & Wills, J. (2007). Women Working Worldwide: Transnational Networks, Corporate
Social Responsibility and Action Research. Global Networks, 453-476.
Insch, G. S., McIntyre, N., & Napier, N. K. (2008). The Expatriate Glass Ceiling: The Second
Layer of Glass. Journal of Business Ethics, 83(1), 19-28. doi:10.1007/s10551-007-9649-0
Paust, J. J. (2002). Human Rights Responsibilities of Private Corporations. Vanderbilt Journal of
Transnational Law, 35(3), 801.
Poster, W. R. (2008). Filtering Diversity: A Global Corporation Struggles with Race, Class, and
Gender in Employment Policy. American Behavioral Scientist, 52(3), 307-341.
Ruggie, J. G. (2007). Business and Human Rights: The Evolving International Agenda. The
American Journal of International Law, 101(4), 819-840.
The Social Progress Imperative. (2014). Guiding Social Investment. Retrieved from Social
Progress Imperative: http://www.socialprogressimperative.org/
Werther, W. B., & Chandler, D. (2011). Strategic Corporate Social Responsibility: Stakeholders
in a Global Environment (2nd ed.). Thousand Oaks: Sage Publications, Inc.
Wettstein, F., & Waddock, S. (2005). Voluntary or Mandatory: That is (Not) the Question.
Zeitschrift Fuer Wirtschafts- Und Unternehmensethik, 6(3), 304-320.
World Economic Forum. (2014). Global Competitiveness Index Report 2013 - 2014. Retrieved
from World Economic Forum: http://www.weforum.org/reports/global-competitivenessreport-2013-2014

CSR: FIRST MOVER DEVELOPING MARKETS

11

18
1
31
8
11
6
14
3
15
21
16
4
10
9
28
5
17
62
32
23
35
51
46
78
54
85
42
25
49
34
52
63

91.74
94.87
94.32
93.91
93.59
94.59
93.52
94.63
95.73
92.47
94.57
93.08
91.90
94.72
93.63
89.82
92.74
92.05
87.13
91.23
90.22
90.93
91.77
90.49
82.66
85.79
84.72
88.69
86.73
83.85
82.77
86.24

84.97
89.78
88.19
87.56
86.94
84.71
80.31
84.17
84.82
80.27
86.35
84.96
79.47
79.25
75.89
75.96
78.81
83.60
84.39
79.37
76.90
76.11
83.26
83.25
80.53
72.18
81.10
76.26
77.48
72.99
79.11
71.91

Opportunity

88.24
88.19
88.07
87.37
87.12
87.08
86.95
86.91
86.55
86.10
85.11
84.61
84.56
84.21
84.05
82.77
82.63
81.65
81.28
81.11
80.77
80.49
80.41
78.93
77.75
77.51
77.44
77.18
76.93
76.30
73.91
73.87

Foundations of
Wellbeing

Basic Human
Needs

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32

Social
Progress Index

New Zealand
Switzerland
Iceland
Netherlands
Norway
Sweden
Canada
Finland
Denmark
Australia
Austria
Germany
United Kingdom
Japan
Ireland
United States
Belgium
Slovenia
Estonia
France
Spain
Portugal
Czech Republic
Slovakia
Costa Rica
Uruguay
Poland
Korea, Republic of
Italy
Chile
Latvia
Hungary

Global
Competitive
Index Rank

Country/Economy

Social
Progress Rank

Appendix A

88.01
79.92
81.71
80.63
80.82
81.95
87.02
81.92
79.10
85.54
74.42
75.81
82.29
78.67
82.63
82.54
76.34
69.30
72.32
72.72
75.19
74.43
66.21
63.04
70.04
74.56
66.50
66.58
66.58
72.06
59.85
63.46

CSR: FIRST MOVER DEVELOPING MARKETS

Lithuania
Mauritius
Greece
Croatia
United Arab Emirates
Panama
Israel
Kuwait
Serbia
Argentina
Jamaica
Bulgaria
Malaysia
Brazil
Trinidad and Tobago
Albania
Macedonia
Ecuador
Romania
Colombia
Montenegro
Mexico
Peru
Philippines
Botswana
Belarus
Thailand
Armenia
Bosnia and Herzegovina
Ukraine
El Salvador
Turkey
Saudi Arabia
Georgia
Venezuela
Dominican Republic
South Africa
Tunisia
Bolivia
Paraguay

33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72

48
45
91
75
19
40
27
36
101
104
94
57
24
56
92
95
73
71
76
69
67
55
61
59
74
N/A
37
79
87
84
97
44
20
72
134
105
53
83
98
119

12
73.76
73.68
73.43
73.31
72.92
72.58
71.40
70.66
70.61
70.59
70.39
70.24
70.00
69.97
69.88
69.13
68.33
68.15
67.72
67.24
66.80
66.41
66.29
65.86
65.60
65.20
65.14
65.03
64.99
64.91
64.70
64.62
64.38
63.94
63.78
63.03
62.96
62.96
62.90
62.65

81.47
86.39
86.99
88.16
88.62
77.39
85.77
87.56
81.86
77.77
69.23
82.01
86.27
71.09
74.44
80.12
81.87
72.98
73.71
69.56
78.91
74.18
68.71
66.76
65.88
84.13
74.10
78.42
84.52
77.98
68.98
82.10
83.12
75.11
65.47
65.78
60.20
77.72
63.44
63.41

77.96
71.43
74.85
76.87
76.74
77.85
71.57
73.11
77.10
70.62
76.34
71.72
76.06
75.78
71.48
73.13
67.90
75.97
74.54
75.72
69.01
67.37
72.94
69.17
72.67
67.35
71.97
69.27
63.53
61.42
67.20
64.36
69.84
67.64
75.02
71.38
67.49
66.76
71.42
66.40

61.84
63.21
58.45
54.88
53.39
62.48
56.87
51.32
52.87
63.38
65.60
56.98
47.68
63.03
63.73
54.14
55.23
55.51
54.91
56.45
52.48
57.67
57.21
61.63
58.25
44.13
49.34
47.39
46.93
55.33
57.92
47.41
40.18
49.07
50.86
51.93
61.19
44.39
53.85
58.16

CSR: FIRST MOVER DEVELOPING MARKETS

Azerbaijan
Nicaragua
Jordan
Guatemala
Honduras
Namibia
Cuba
Russia
Moldova
Guyana
Lebanon
Egypt
Sri Lanka
Kazakhstan
Algeria
Indonesia
Mongolia
China
Morocco
Uzbekistan
Kyrgyzstan
Iran
Tajikistan
Ghana
Senegal
Laos
Bangladesh
Cambodia
Nepal
India
Kenya
Zambia
Rwanda
Benin
Lesotho
Swaziland
Malawi
Congo, Republic of
Uganda
Burkina Faso

73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112

39
99
68
86
111
90
N/A
64
89
102
103
118
65
50
100
38
107
29
77
N/A
121
82
N/A
114
113
81
110
88
117
60
96
93
66
130
123
124
136
N/A
129
140

13
62.44
62.33
61.92
61.37
61.28
61.19
61.07
60.79
60.12
60.06
60.05
59.97
59.71
59.47
59.13
58.98
58.97
58.67
58.01
57.34
57.08
56.65
56.05
55.96
53.52
52.41
52.04
51.89
51.58
50.24
50.20
49.88
49.46
49.11
48.94
48.87
48.79
47.99
47.75
47.33

76.19
63.31
81.31
66.50
63.42
59.01
82.10
72.15
72.65
68.49
74.35
76.77
69.05
75.14
76.25
63.65
53.67
73.02
71.86
75.88
64.42
77.76
62.68
52.39
54.11
59.01
57.28
47.44
57.13
54.48
45.80
38.57
50.14
47.76
43.17
50.26
44.92
34.18
43.19
40.16

68.59
70.91
61.15
67.95
70.57
69.10
58.11
63.66
59.66
58.36
61.28
68.98
67.27
54.80
64.25
69.42
63.67
63.78
62.57
53.28
60.54
58.36
60.88
65.63
63.55
61.58
59.40
66.89
60.12
56.84
66.38
63.67
58.01
57.24
51.07
53.05
55.65
64.38
61.00
56.07

42.54
52.77
43.29
49.67
49.84
55.46
42.99
46.58
48.04
53.35
44.52
34.17
42.80
48.47
36.90
43.86
59.56
39.21
39.60
42.87
46.26
33.82
44.60
49.85
42.90
36.65
39.44
41.33
37.49
39.39
38.41
47.41
40.23
42.33
52.57
43.29
45.80
45.42
39.05
45.75

CSR: FIRST MOVER DEVELOPING MARKETS

Mali
Tanzania
Djibouti
Cameroon
Mozambique
Iraq
Madagascar
Liberia
Mauritania
Togo
Nigeria
Pakistan
Yemen
Niger
Angola
Sudan
Guinea
Burundi
Central African Republic
Chad

113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132

135
125
N/A
115
137
N/A
132
128
141
N/A
120
133
145
N/A
142
N/A
147
146
N/A
148

14
46.85
46.06
45.95
45.51
45.23
44.84
44.28
44.02
43.11
42.80
42.65
42.40
40.23
40.10
39.93
38.45
37.41
37.33
34.17
32.60

45.73
38.79
59.82
44.13
41.19
60.82
39.73
36.77
49.43
40.67
36.57
51.24
48.50
33.74
41.67
42.27
36.48
32.84
27.42
25.94

52.72
57.27
41.34
53.73
49.86
46.36
51.90
48.99
54.03
53.78
58.08
47.75
47.88
48.87
46.38
46.57
45.02
46.05
47.38
42.42

42.11
42.10
36.68
38.65
44.64
27.35
41.20
46.29
25.88
33.96
33.29
28.22
24.31
37.70
31.75
26.50
30.73
33.10
27.70
29.45

CSR: FIRST MOVER DEVELOPING MARKETS

15

Appendix B
The Global Competitiveness Index
Country/Economy
Switzerland
Singapore
Finland
Germany
United States
Sweden
Hong Kong SAR
Netherlands
Japan
United Kingdom
Norway
Taiwan, China
Qatar
Canada
Denmark
Austria
Belgium
New Zealand
United Arab Emirates
Saudi Arabia
Australia
Luxembourg
France
Malaysia
Korea, Rep.
Brunei Darussalam
Israel
Ireland
China
Puerto Rico
Iceland
Estonia
Oman
Chile

Rank

Score

Rank

Change

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

5.67
5.61
5.54
5.51
5.48
5.48
5.47
5.42
5.40
5.37
5.33
5.29
5.24
5.20
5.18
5.15
5.13
5.11
5.11
5.10
5.09
5.09
5.05
5.03
5.01
4.95
4.94
4.92
4.84
4.67
4.66
4.65
4.64
4.61

1
2
3
6
7
4
9
5
10
8
15
13
11
14
12
16
17
23
24
18
20
22
21
25
19
28
26
27
29
31
30
34
32
33

0
0
0
2
2
-2
2
-3
1
-2
4
1
-2
0
-3
0
0
5
5
-2
-1
0
-2
1
-6
2
-1
-1
0
1
-1
2
-1
-1

CSR: FIRST MOVER DEVELOPING MARKETS

Spain
Kuwait
Thailand
Indonesia
Azerbaijan
Panama
Malta
Poland
Bahrain
Turkey
Mauritius
Czech Republic
Barbados
Lithuania
Italy
Kazakhstan
Portugal
Latvia
South Africa
Costa Rica
Mexico
Brazil
Bulgaria
Cyprus
Philippines
India
Peru
Slovenia
Hungary
Russian Federation
Sri Lanka
Rwanda
Montenegro
Jordan
Colombia
Vietnam
Ecuador
Georgia
Macedonia, FYR
Botswana

35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74

16
4.57
4.56
4.54
4.53
4.51
4.50
4.50
4.46
4.45
4.45
4.45
4.43
4.42
4.41
4.41
4.41
4.40
4.40
4.37
4.35
4.34
4.33
4.31
4.30
4.29
4.28
4.25
4.25
4.25
4.25
4.22
4.21
4.20
4.20
4.19
4.18
4.18
4.15
4.14
4.13

36
37
38
50
46
40
47
41
35
43
54
39
44
45
42
51
49
55
52
57
53
48
62
58
65
59
61
56
60
67
68
63
72
64
69
75
86
77
80
79

1
1
1
12
7
0
6
-1
-8
-1
9
-7
-3
-3
-7
1
-2
3
-1
3
-2
-8
5
0
6
-1
0
-6
-3
3
3
-3
5
-4
0
5
15
5
7
5

CSR: FIRST MOVER DEVELOPING MARKETS

Croatia
Romania
Morocco
Slovak Republic
Armenia
Seychelles
Lao PDR
Iran, Islamic Rep.
Tunisia
Ukraine
Uruguay
Guatemala
Bosnia and Herzegovina
Cambodia
Moldova
Namibia
Greece
Trinidad and Tobago
Zambia
Jamaica
Albania
Kenya
El Salvador
Bolivia
Nicaragua
Algeria
Serbia
Guyana
Lebanon
Argentina
Dominican Republic
Suriname
Mongolia
Libya
Bhutan
Bangladesh
Honduras
Gabon
Senegal
Ghana

75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114

17
4.13
4.13
4.11
4.10
4.10
4.10
4.08
4.07
4.06
4.05
4.05
4.04
4.02
4.01
3.94
3.93
3.93
3.91
3.86
3.86
3.85
3.85
3.84
3.84
3.84
3.79
3.77
3.77
3.77
3.76
3.76
3.75
3.75
3.73
3.73
3.71
3.70
3.70
3.70
3.69

81
78
70
71
82
76
n/a
66
n/a
73
74
83
88
85
87
92
96
84
102
97
89
106
101
104
108
110
95
109
91
94
105
114
93
113
n/a
118
90
99
117
103

6
2
-7
-7
3
-4
n/a
-16
n/a
-11
-11
-3
1
-3
-2
2
5
-8
9
3
-6
10
4
6
9
10
-6
7
-12
-10
0
8
-14
5
n/a
8
-21
-13
4
-11

CSR: FIRST MOVER DEVELOPING MARKETS

Cameroon
Gambia, The
Nepal
Egypt
Paraguay
Nigeria
Kyrgyz Republic
Cape Verde
Lesotho
Swaziland
Tanzania
Cte d'Ivoire
Ethiopia
Liberia
Uganda
Benin
Zimbabwe
Madagascar
Pakistan
Venezuela
Mali
Malawi
Mozambique
Timor-Leste
Myanmar
Burkina Faso
Mauritania
Angola
Haiti
Sierra Leone
Yemen
Burundi
Guinea
Chad

115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148

18
3.68
3.67
3.66
3.63
3.61
3.57
3.57
3.53
3.52
3.52
3.50
3.50
3.50
3.45
3.45
3.45
3.44
3.42
3.41
3.35
3.33
3.32
3.30
3.25
3.23
3.21
3.19
3.15
3.11
3.01
2.98
2.92
2.91
2.85

112
98
125
107
116
115
127
122
137
135
120
131
121
111
123
119
132
130
124
126
128
129
138
136
n/a
133
134
n/a
142
143
140
144
141
139

-3
-18
8
-11
-3
-5
6
0
14
11
-5
5
-6
-17
-6
-11
1
-2
-9
-8
-7
-7
1
-2
n/a
-7
-7
n/a
-1
-1
-5
-2
-6
-9

CSR: FIRST MOVER DEVELOPING MARKETS

Appendix C
Figure 1

95

85

75

65

55

45

35

25

15

-5

Social Progress Rank

Global Competitive Index Rank (1 year change)

19