Global competition is growing not only on a products/firms level, but also among countries. There are many approaches to interpretation of a concept of the “country competitiveness”, which in particular means “the state of the country in the global market due to the international division of labor, national conditions and factors of production and its ability to compete effectively in world markets”.
The competitiveness of countries is determined by many factors and is assessed by different approaches and methods. Some of the best known are the methodologies of the Institute for Management Development (IMD) and the World Economic Forum (WEF). Potential investors are guided by them when making decisions about investing in the economy, financial institutions – when evaluating countries as recipients of capital, etc.
The WEF’s Global Competitiveness Index (GCI) is based on 12 groups of over 100 indicators and is regularly adjusted to meet current challenges facing national economies. The latest version – GCI 4.0 – includes: 1. Enabling Environment (1.1. Institutions. 1.2. Infrastructure. 1.3. ICT adoption. 1.4. Macroeconomic stability). 2. Human Capital (2.1. Health. 2.2. Skills). 3. Markets (3.1. Product market. 3.2. Labour market. 3.3. Financial system. 3.4. Market size). 4. Innovation Ecosystem (4.1. Business dynamism. 4.2. Innovation capability). According to GCI 2019, the top five are: Singapore, the United States, Hong Kong, Netherlands and Switzerland, while Ukraine – in the 85th place out of 141 countries. The competitiveness of Ukraine has been deteriorating for the third year in a row. The main regression is in the spheres of: financial systems, healthcare, ICT implementation, macroeconomic stability and innovation opportunities.
Considering those 12 components, the multifactorial regression model for Ukraine competitiveness was designed based on aggregated and standardized GCI indicators of 2009– 2017 and 2018–2019. To estimate the parameters of the multifactor regression model, the least squares method and the application “Data Analysis” of the program MS EXCELL were used. The obtained model has been tested.
As a result of modeling, it can be seen that – institutions indicator and – indicator of financial market development had the greatest influence on the competitiveness of Ukraine. Thus, they should become the priority areas of the state development and policy.
1. Horbal N., Hryhoriev O., Kozachuk A., Kozachuk N. (2019) Ukraina v reitynhakh hlobalnoi konkurentospromozhnosti [Ukraine in the rankings of global competitiveness]. Menedzhment ta pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku, 1, 84 - 91. (in Ukrainian).
https://doi.org/10.23939/smeu2019.01.084
2. IMD World Competitiveness Rankings 2019 Results. Retrieved from: https://www.imd.org/wcc/world-competitiveness-center-rankings/world-comp....
3. The Global Competitiveness Report 2019. Retrieved from: http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf.
4. Porter M.E. (1990) The Competitive Advantage of Nations. The Free Press. New York.
https://doi.org/10.1007/978-1-349-11336-1
5. Kuzmin O.Ie., Horbal N.I. (2005) Upravlinnia mizhnarodnoyu konkurentospromozhnistiu pidpryiemstva: Pidruchnyk [Management of international competitiveness of the enterprise: Textbook]. - Lviv: Kompakt-LV. - 304 p. (in Ukrainian).
6. Pronkina L.I., Havrysh O.M. (2019) Suchasni problemy konkurentospromozhnosti derzhavy [Modern problems of the state competitiveness]. Ahrosvit, 7, 32-36. (in Ukrainian).
https://doi.org/10.32702/2306-6792.2019.7.32
7. Khvorost T.V. (2017) Stan konkurentospromozhnosti natsionalnoi ekonomiky Ukrainy [State of competitiveness of the national economy of Ukraine]. Ekonomika i suspilstvo, №10. Retrieved from: http://www.economyandsociety.in.ua/journal/10_ukr/27.pdf. (in Ukrainian).
8. Antoshchenkova V.V. (2019) Konkurentospromozhnist yak osnova efektyvnoi natsionalnoi ekonomiky [Competitiveness as the basis for an effective national economy]. Visnyk Kharkiv. nats. tekhn. un-tu sil. hosp-va im. P. Vasylenka, 200, 84-95. (in Ukrainian).
9. Lupenko Yu.O., Patyka N.I. (2019) Rol innovatsii u zabezpechenni konkurentospromozhnosti Ukrainy na svitovykh rynkakh silskohospodarskoi produktsii [The role of innovation in ensuring Ukraine's competitiveness in world agricultural markets]. Ahrosvit, 11, 16-23. (in Ukrainian).
https://doi.org/10.32702/2306-6792.2019.11.16
10. Poliakova Yu.V. (2019) Innovatsiini zasady pidvyshchennia konkurentospromozhnosti rehioniv Ukrainy v protsesi yevrointehratsii [Innovative principles of increasing the competitiveness of Ukrainian regions in the process of European integration]: dys… d-ra ekon. nauk. - DU «Instytut rehionalnykh doslidzhen im. M.I. Dolishnoho NAN Ukrainy», Lviv. (in Ukrainian).
11. Horbal N.I., Kukhtiak K.A., Ruda M.V. (2019) Vplyv chlenstva v YeS na konkurentospromozhnist krain Skhidnoi Yevropy [The impact of EU membership on the competitiveness of Eastern European countries]. Naukovyi visnyk NLTU Ukrainy: Seriia ekonomichna, 27.7, 53-58. (in Ukrainian).
https://doi.org/10.15421/40270709
12. Skorobohatova N. (2019) Mizhnarodna konkurentospromozhnist krain u realiiakh innovatsiinykh zrushen industrii 4.0 [International competitiveness of countries in the realities of innovative shifts in industry 4.0]. Ekonomichnyi analiz, 29(3), 21-28. (in Ukrainian).
https://doi.org/10.35774/econa2019.03.021
13. Khaustova V.Ie., Kriachko Ye.M., Kolodiazhna T.V. (2017) Otsinka konkurentospromozhnosti ekonomik krain svitu: teoriia ta praktyka [Assessing the competitiveness of world economies: theory and practice]. Biznes Inform, 8, 49-56. (in Ukrainian).
14. Polkovnychenko S.O., Murai A.O. (2018) Otsinka konkurentospromozhnosti Ukrainy na yevropeiskomu rynku turystychnykh posluh [Assessment of Ukraine's competitiveness in the European market of tourist ambassadors]. Efektyvna ekonomika, 12, 112-120. (in Ukrainian).
15. Melnyk M.I., Vatamaniuk-Zelinska U.Z. (2016) Ekonometrychna otsinka vplyvu chynnykiv formuvannia pidpryiemnytskoho seredovyshcha na rozvytok mashynobudivnykh pidpryiemstv v Ukraini [Econometric assessment of the influence of factors of business environment formation on the development of machine-building enterprises in Ukraine]. Sotsialno-ekonomichni problemy suchasnoho periodu Ukrainy: DU «Instytut rehionalnykh doslidzhen im. M. I. Dolishnoho NAN Ukrainy», 1(117), 105-110. (in Ukrainian).
16. Yurynets Z.V. (2016) Innovatsiini stratehii v systemi pidvyshchennia konkurentospromozhnosti ekonomiky Ukrainy [Innovative strategies in the system of increasing the competitiveness of Ukraine's economy]: dys… d-ra ekon. nauk. - NU «Lvivska politekhnika», Lviv. (in Ukrainian).
17. Instrumenty ta mekhanizmy vyroblennia i vprovadzhennia publichnoi polityky v Ukraini [Tools and mechanisms for developing and implementing public policy in Ukraine]. Ukrinform. Retrieved from: https://www.ukrinform.ua/rubric-other_news/2713805-instrumenti-ta-mehani.... (in Ukrainian).