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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 first edition of Smart Centres Index (SCI) used 127 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 Services: Data on the state of financial service development and the value of trade and commerce;
  6. Technology Factors
  • Legal: Measures focused on the legal status of smart technology use;
  • Documentation: Sources tracking the use of smart technology for the delivery of services;
  • Identity: These are measures focused on the maturity of e-government for identity and citizenship;
  • 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 Revenue 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

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: Economic Performance Index

Cushman & Wakefield: Business Process Outsourcing Location Index

Corporate Knights: Financial System Green Alignment

The World Bank: Protected Land Area % of land area

CBI: Climate-Aligned Bonds Outstanding By Country Of Issuer

UN Sustainable Stock Exchange Initiative: Sustainable Stock Exchanges (Y/N)

CBI: Green Bond Segments On Stock Exchanges (Y/N)

Z/Yen Group: The Global Green Finance Index (Depth)

Z/Yen Group: The Global Green Finance Index (Quality)

Z/Yen Group: The Global Financial Centres Index

United Nations: E-participation Index

United Nations: UN International Sale Of Goods

International Organization for Standardization: ISO TC307 Participation

VPN Mentor: Online Censorship Rank

Coin Dance: Volume Of Bitcoin Trades

Coin Dance: Legal Status Of Bitcoin

Airtable Blockchain in Government Tracker: Use Of Blockchain In Land Registration

Airtable Blockchain in Government Tracker: Use Of Blockchain In Identity Management

Airtable Blockchain in Government Tracker: Use Of Blockchain For Trade Finance
Airtable Blockchain in Government Tracker: Use Of Blockchain In Healthcare

Airtable Blockchain in Government Tracker: Use Of Blockchain In Voting
Tortoise Intelligence: Global AI Index

Z/Yen Group: GFCI FinTech Index

Findexable: The Global Fintech Index