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Smart Centres Index

Instrumental Factors

The Smart Centres Index (SCI) is built using a range of instrumental factors. In selecting factors to compile the SCI, a number of key properties are essential:

  • Time series – where possible we will seek data that is contemporary (published within the last three years) is part of a series (collected as part of a programme rather than as a one off) and is on-going (there are plans to update it in the future).
  • Locational relevance – where possible we will seek data at a jurisdictional level. Where this is not possible we use appropriate apportionment rules and/or alternative data, i.e. country or regional.
  • Accessibility – data should generally be publicly accessible, this enables transparency in the assessments.

The pilot smart jurisdictions index used 119 instrumental factors. We have grouped the factors into the following areas:

Base Factors

  1. The Business Environment: Economics statistics and information on the ease of doing business;
  2. Reputational: Statistics on the quality and openness of life;
  3. Infrastructure: These focus on the physical attributes of centres such as telecommunications, real-estate and transport;
  4. Human Capital: These include data on education, employment, crime, corruption and health;
  5. Financial Service: Data on the state of financial service development and the value of trade and commerce;

Smart Ledger Technology Factors

  1. Legal: Measures focused on the legal status of smart technology use;
  2. Documentation: Sources tracking the use of smart technology for the delivery of services;
  3. Identity: These are measures focused on the maturity of e-government for identity and citizenship;
  4. Payments: The level of use of cryptocurrencies for payments and banking.

The taxonomy of factors is represented in the following diagram.

Smart Centres Index Taxonomy.png

The factors used in the SCI are set out below:

EIU: Business Environment Rankings

The World Bank: Ease of Doing Business Index

EIU: Operational Risk Rating

The World Bank: Real Interest Rate

AT Kearney: Global Services Location

Transparency International: Corruption Perception Index

PWC: Corporate Tax Rates

OECD: Personal Tax Rates

The World Bank: Tax as Percentage of GDP

OECD: Bilateral Tax Information Exchange Agreements

Fraser Institute: Economic Freedom of the World

CIA: Government Debt as % of GDP

OECD: OECD Country Risk Classification

Institute for Economics & Peace: Global Peace Index

Tax Justice Network: Financial Secrecy Index

The World Bank: Government Effectiveness

World Justice Project: Open Government

World Justice Project: Regulatory Enforcement

Reporters Without Borders (RSF): Press Freedom Index

Swiss Association for Standardization (SNV): Currencies

The Commonwealth: Commonwealth Countries

CIA: Common Law Countries

The World Bank: Inflation, GDP Deflator

The World Bank: Rule of Law

The World Bank: Political Stability and Absence of Violence/Terrorism

The World Bank: Regulatory Quality

The World Bank: Control of Corruption

Forbes: Best Countries for Business

ITU: Global Cybersecurity Index

International Budget Partnership: Open Budget Survey

Enerdata Statistical Yearbook: Crude oil input to refineries

Enerdata Statistical Yearbook: Share of wind and solar in electricity production

Enerdata Statistical Yearbook: Energy Intensity of GDP

Enerdata Statistical Yearbook: Share of renewables in electricity production

The World Federation of Stock Exchanges: Capitalisation of Stock Exchanges

The World Federation of Stock Exchanges: Value of Share Trading

The World Federation of Stock Exchanges: Volume of Share Trading:

The World Federation of Stock Exchanges: Broad Stock Index Levels

The World Federation of Stock Exchanges: Value of Bond Trading

The World Bank: Domestic Credit Provided by Banking Sector (% of GDP)

The World Bank: Percentage of Firms Using Banks to Finance Investment

Investment Company Institute: Total Net Assets of Regulated Open-End Funds

Islamic Banks and Financial Institutions: Islamic Finance Country Index

The Bank for International Settlements: Net External Positions of Banks

The Bank for International Settlements: External Positions of Central Banks as a share of GDP

The World Bank: Liner Shipping Connectivity Index

DHL:Global Connectedness Index

The Brookings Institution: City GDP composition(Business/Finance)

Cushman & Wakefield: Business Process Outsourcing Location Index

Corporate Knights: Financial system green alignment

Corporate Knights: Climate -aligned Bond

Corporate Knights: Green Bond

Z/Yen Desk Research: Government Attitude to Bitcoin

Coin Dance: Legal Status Of Bitcoin

Deloitte University Press / Blockchain in Government Tracker: Countries testing pilots for blockchain for voting, then actually using for voting

Z/Yen Desk Research: Level of Internet Censorship

United Nations: Ratification of UN Convention on Contracts for International Sale of Goods

International Organization for Standardization: Participating country in ISO TC307

Wallet Weekly / Deloitte University Press / Blockchain in Government Tracker: Use of blockchain for land title registry

The Medical Futurist / Blockchain in Government Tracker: Healthcare Using Blockchain

Yale: Environmental Performance Index

The World Bank: Logistics Performance Index

UN E-Government Knowledgebase: E-participation Index

European Commission: Maturity of E-Government

Z/Yen Desk Research: Use of blockchain technology for passport/immigration

Coin Dance: Number of daily Bitcoin trades on local exchanges

Blockchain In Government Tracker: Banks that have launched blockchain trade finance