Measurement of countries competitiveness: theoretical fundaments and practical results

Why some countries are able to achieve long-term sustainable growth while the other find themselves in stagnation or even deteriorate their position in world economy? World Economic Forum seeks for answer of this question by the construction of the Growth Competitiveness Index. The construction of this index is established on the assumption that the competitiveness of the country is given by three main factors: the quality of macroeconomic environment, the state of public institutions and the technical progress. World Economic Forum fi gures out Growth Competitiveness Index every year for 104 countries of the world. The article shows how the index is constructed, what are their subindices and partial indicators. It shows also score for all countries and their ranking.