Approaches to determining the global competitiveness
Importance The article overviews contemporary approaches to evaluating the global competitiveness of the State, and focuses on Global Competitiveness Index (GCI) and World Competitiveness Yearbook (WCY). Objectives The research analyzes whether it is possible to use rankings of WEF and IMD to prepare guidelines on Russia's economic policies. The research pursues examining the premises for formulating contemporary methods to evaluate the national competitiveness and identify key aspects of probable approaches. Comparing statistical data of reports issued by the Institute of Management Development and World Economic Forum, I make an attempt to assess the unbiased nature of the States' competitiveness indices. Methods I analyze estimated competitiveness of the global leaders during the last decade. I compare the ranking of Top 10 countries in terms of GCI and WCY and present the data on Russia. My conclusions rely upon official reports by WEF and IMD. The research contains a significant amount of statistical data derived from foreign sources. Results I present my judgments on comparability of estimated approaches of WEF and IMD. The analysis reveals the heteropolar orientation of methods that tend to institutions relating to GCI and WCY. I demonstrate that the methods are useful indices in terms of improving the national competitiveness system. I conclude that the evaluation and ranking scale is subjective, and propose my recommendations for enhancing the national competitiveness indices. Conclusions and Relevance As compared with the majority of researches into the national competitiveness that analyze ranking data, this research presents a comparative analysis of WEF and IMD approaches and statistics for the 2005 to 2014 period.