A Longitudinal, Cross-Country, Panel-Regression Analysis
of the IMD Index of National Competitive Advantage
Hatchard GD, Cavanaugh KC;
The scores of New Zealand and Norway on the IMD Index of National Competitive Advantage increased significantly when they passed the Maharishi Effect threshold in 1993 (1% of a population practicing the Transcendental Meditation program or the √1% practicing the advanced TM-Sidhi program including Yogic Flying in a group) when compared to 44 other developed nations as shown by cross-country panel regression analysis robust to serially correlated errors, heteroskedasticity, and contemporaneous correlation of residuals (p < 3×10-15).
Subsidiary analysis and OECD data confirmed that the changes were unusually broad-based (p < 6.5×10-8), sustained, and balanced in nature with five years of high growth, low unemployment, and low inflation.
Case studies of the Maharishi Effect covering economic and social data from USA between 1983 and 1989, and Cambodia and Mozambique since the early 1990s indicate a similar picture of stable economic growth along with the capacity to repay government debt, improve quality of life and reduce conflict.
Taken as a whole the findings suggest a prescription for balanced and sustained growth for both rich and poor nations along with a means to create and sustain a peaceful world.
In 1989 the world appeared to be riding on the crest of a wave.
The enmity between the super powers had dissolved. The global problems of conflict, starvation, and poverty seemed solvable in a new climate of cooperation between nations. The collapse of the Soviet Union in 1990 was followed by a global wave of democratization and free market economics that promised peace and prosperity.
Yet alarmingly since we have witnessed the rise of new forms of conflict and terror, while famine and poverty have surged. Doctrines of unilateral military intervention have apparently failed to stem a rising tide of instability; many believe they are fuelling it.
The burning question of the day is ‘What policies and programs will guarantee peace and prosperity?‘
This paper seeks to answer this question by examining five very different nations an oil-rich country, two developing nations, one in Africa and one in SE Asia, a developed agricultural economy, and the world’s remaining ‘super power’. Each has been influenced by the Maharishi Effect (Super Radiance effect), whose impact we assess by analyzing a broad-based international measure of economic performance and quality of life.
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