{"id":1933,"date":"2010-12-14T17:59:19","date_gmt":"2010-12-14T15:59:19","guid":{"rendered":"https:\/\/blog.iese.edu\/vcpeindex\/"},"modified":"2023-11-03T21:40:47","modified_gmt":"2023-11-03T19:40:47","slug":"bosniaherzegovina","status":"publish","type":"page","link":"https:\/\/blog.iese.edu\/vcpeindex\/bosniaherzegovina\/","title":{"rendered":"Bosnia-Herzegovina"},"content":{"rendered":"<p><script src=\"https:\/\/omnipotent.net\/jquery.sparkline\/2.1.2\/jquery.sparkline.min.js\"><\/script><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"font-size:32px; font-weight:bold; width:50%;\">Bosnia-Herzegovina<\/td>\n<td style=\"width:50%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"font-size:20px;\">Rank: 93 &middot; Score: 30.4<\/td>\n<td style=\"text-align:right;\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:36%;\">Basic facts<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"width:36%;\">&nbsp;<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">Population (millions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">3.2<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and pulic issues (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Bottom<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP (US$ billions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">24.2<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&amp;A volume (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Bottom<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP per capita (US$)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">7,478.2<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Venture capital investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Bottom<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP growth (per cent)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">2.0<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Private equity investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">Bottom<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Performance Overview<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; line-height:60px; text-align:center; width:6%;\">Indicator<\/td>\n<td style=\"color:#999; font-size:10px; width:51.1%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank \/ 125<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank Trend<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Score<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; line-height:60px; padding-left:10px;\" colspan=\"2\">VC\/PE Country Attractiveness Index<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">93<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\"><span class=\"inlinesparkline\">31, 30, 31, 29, 32<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">30.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd1')\">1<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px;\"><a href=\"javascript:toggle('kd1')\">Economic Activity<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">114<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">8, 13, 13, 11, 11<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">52.7<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd1\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">1.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size of the Economy (GDP)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">100<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">25, 26, 28, 29, 25<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">25.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Expected Real GDP Growth<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">71<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">67, 72, 92, 57, 54<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">101.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Unemployment<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">115<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">5, 8, 11, 11, 10<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">55.8<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd2')\">2<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd2')\">Depth of Capital Market<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">88<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">35, 37, 37, 36, 37<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">14.4<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd2\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">2.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size and Liquidity of the Stock Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">41<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">87, 86, 85, 85, 84<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">67.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Total Trading Volume<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">83<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">42, 42, 42, 42, 42<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">1.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and Public Issuing Activity<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">61<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">72, 65, 63, 64, 64<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">1.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&#038;A Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">96<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">31, 34, 38, 28, 29<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">19.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Debt and Credit Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">95<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">25, 33, 35, 34, 30<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">65.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bank Non-Performing Loans<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">76<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">32, 35, 44, 43, 49<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">96.7<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd3')\">3<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd3')\">Taxation<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">35<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">83, 83, 88, 89, 90<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">102.9<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd3\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">3.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Tax Incentives and Administrative Burden<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">35<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">83, 83, 88, 89, 90<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">102.9<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd4')\">4<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd4')\">Investor Protection and Corporate Governance<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">94<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">32, 29, 29, 31, 31<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">49.6<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd4\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">4.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Quality of Corporate Governance<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">67<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">61, 59, 56, 58, 58<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">70.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Security of Property Rights<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">113<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">13, 9, 9, 12, 12<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">42.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Quality of Legal Enforcement<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">100<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">30, 23, 21, 25, 25<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">41.0<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd5')\">5<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd5')\">Human and Social Environment<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">110<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">27, 16, 15, 15, 15<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">21.4<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd5\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">5.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Education and Human Capital<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">120<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">3, 5, 5, 5, 5<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">4.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Labor Regulations<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">105<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">32, 20, 20, 20, 20<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">49.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bribing and Corruption<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">94<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">44, 34, 31, 31, 31<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">39.7<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd6')\">6<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd6')\">Entrepreneurial Opportunities<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">86<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">39, 37, 38, 39, 39<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">38.6<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd6\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">6.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Innovation<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">68<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">51, 51, 54, 51, 57<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">33.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Scientific and Technical Journal Articles<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">86<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">39, 39, 40, 41, 39<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">34.6<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Burdens of Starting and Running a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">123<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">3, 1, 2, 2, 2<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">68.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Simplicity of Closing a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">72<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">53, 54, 53, 53, 53<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">65.1<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Corporate R&#038;D<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">90<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">39, 34, 35, 35, 35<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">16.8<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><script type=\"text\/javascript\">\nfunction toggle(element) {\ndocument.getElementById(element).style.display = (document.getElementById(element).style.display == \"none\") ? \"\" : \"none\";\n}\n<\/script><br \/>\n<script type=\"text\/javascript\">\n$(function() { $('.inlinesparkline').sparkline('html', {type: 'line', disableHiddenCheck: true, lineColor: '#ff0000', fillColor: false, spotColor: '#ff0000', minSpotColor: false, maxSpotColor: false, highlightSpotColor: false, highlightLineColor: false, disableTooltips: true, height: '10', width: '36', drawNormalOnTop: false }); });\n<\/script><\/p>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:30px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:47%;\">Historic performance, 2019-2023<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; width:47%;\">Key driver performance, 2023<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"\">\n<tr>\n<td style=\"width:6px;\">&nbsp;<\/td>\n<td style=\"\">\n<script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js\"><\/script><br \/>\n<canvas id=\"myChart1\" width=\"400\" height=\"360\"><\/canvas><br \/>\n<script>\nvar ctx1 = document.getElementById('myChart1');\nvar myChart1 = new Chart(ctx1, {\ntype: 'line',\ndata: {\nlabels: ['2019', '2020', '2021', '2022', '2023'],\ndatasets: [{\nlabel: 'VC\/PE Rank',\ndata: [94, 95, 94, 96, 93],\nfill: false,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'VC Rank',\ndata: [92, 97, 94, 96, 94],\nfill: false,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3\n}, {\nlabel: 'PE Rank',\ndata: [93, 97, 97, 97, 94],\nfill: false,\nbackgroundColor: 'rgba(153, 153, 153, 0.2)',\nborderColor: '#bbbbbb',\npointBackgroundColor: '#bbbbbb',\nborderWidth: 3\n}]\n},\noptions: {\nscales: { y: { min: 85, max: 105, ticks: { stepSize: 5 }, reverse: true }},\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"border-right:1px solid #999;\"><\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"\">\n<canvas id=\"myChart2\" width=\"400\" height=\"400\"><\/canvas><br \/>\n<script>\nvar ctx2 = document.getElementById('myChart2');\nvar myChart2 = new Chart(ctx2, {\ntype: 'radar',\ndata: {\nlabels: ['1. 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Entrepreneurial'], ['Opportunities']]],\ndatasets: [{\nlabel: 'Bosnia-Herzegovina',\ndata: [52.7, 14.4, 102.9, 49.6, 21.4, 38.6],\nfill: true,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'Eastern Europe',\ndata: [67.8, 41.2, 108.0, 70.4, 34.4, 54.4],\nfill: true,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3 }]},\noptions: {\nscale: { min: 0, max: 125, stepSize: 25 },\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC\/PE Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#999; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>PE Rank<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<td style=\"width:6%;\"><\/td>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Bosnia-Herzegovina<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Eastern Europe<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Peer Group Comparison<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"height:60px; width:100%;\">\n<tr>\n<td style=\"color:#999; padding-left:10px; font-size:10px; width:14.3%;\">Regional Peers<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Economic Activity<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Depth of Capital Market<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Taxation<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Investor Protection and<br \/>Corporate Governance<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Human and Social<br \/>Environment<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Entrepreneurial<br \/>Opportunites<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px; width:14.3%;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/serbia\/\">Serbia<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center; width:14.3%;\">65.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">16.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">100.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">61.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">31.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">54.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/georgia\/\">Georgia<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">57.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">10.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">113.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">87.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">34.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">45.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/macedonia\/\">Macedonia<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">48.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">14.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">124.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">65.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">26.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">43.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/montenegro\/\">Montenegro<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">37.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">12.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">105.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">79.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">31.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">38.4<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/bosniaherzegovina\/\"><span style=\"font-size:16px; font-weight:bold;\">Bosnia-Herzegovina<\/span><\/a><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">52.7<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">14.4<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">102.9<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">49.6<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">21.4<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">38.6<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/moldova\/\">Moldova<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">62.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">6.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">117.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">65.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">26.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">40.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/albania\/\">Albania<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">54.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">6.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">59.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">28.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">36.0<\/td>\n<\/tr>\n<\/table>\n<div style=\"color:#999; font-size:10px; line-height:36px; margin-top:6px;\">Last updated: 4 Nov 2023<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bosnia-Herzegovina &nbsp; Rank: 93 &middot; Score: 30.4 &nbsp; Basic facts &nbsp; &nbsp; &nbsp; &nbsp; Population (millions) 3.2 &nbsp; IPOs and pulic issues (quartile) Bottom GDP (US$ billions) 24.2 &nbsp; M&amp;A volume (quartile) Bottom GDP per capita (US$) 7,478.2 &nbsp; Venture capital investments (quartile) Bottom GDP growth (per cent) 2.0 &nbsp; Private equity investments (quartile) Bottom [&hellip;]<\/p>\n","protected":false},"author":200,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"page_with_heading.php","meta":{"footnotes":""},"class_list":["post-1933","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/1933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/users\/200"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/comments?post=1933"}],"version-history":[{"count":21,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/1933\/revisions"}],"predecessor-version":[{"id":9421,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/1933\/revisions\/9421"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/media?parent=1933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}