Assessment of Global Competitiveness: Stocktaking and Methodical Approaches
Assessment of Global Competitiveness: Stocktaking and Methodical Approaches

Summary/Abstract: The article deals with the notion of ‘country competitiveness’ which has been described by various authors retrospectively from A. Smith and D. Ricardo to the modern studies of M. Porter, C. MacConell, S. Brue, C. Flynn and the analytics of the World Economic Forum (WEF), certain conclusions were made about evolution of this notion. The article also concerns the methods determining the index of global competitiveness proposed by the WEF and the dynamics of BRIC (Brazil, Russia, India and China) country ratings from 2004 to 2014. Here the causes and factors that drove the positional changes of these countries within the considered rating were analyzed as well as the interconnection of the twelve main components of the competitiveness with the global competitiveness level (by WEF estimation) along with the competitiveness of goods, services of BRIC countries, growth of the GNP and the dynamics of citizens’ quality of life. The rating data for the global competitiveness of BRIC countries for a period of 8 years was compared and the conclusions made were such that the WEF methods that have been governing the calculation of global competitiveness level can be erroneous.

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