economies of developed countries, it provides potential incentives for the
implementation of competitiveness. However, the achievement of this goal is
hampered by very low ratings on the quality of state institutions, technological
readiness, market efficiency and the business environment as a consequence of
inhibition of structural reforms and underestimating the importance of creating a stable
business climate conducive to economic activity.
Table 3 The dynamics of the subindices
of the Global Competitiveness Index for Ukraine
Global Competitiveness Index of Ukraine
2015-
2016
(140
countries)
2016-
2017
(138
countries)
2017-
2018
(137
countries)
Value
index
Place in rating
79
85
81
4,1
Basic requirements
101
102
96
4,2
Institutions
130
129
118
3,2
Infrastructure
69
75
78
3,9
Macroeconomic environment
134
128
121
3,5
Health care and elementary education
45
54
53
6,0
Enhancing productiveness
65
74
70
4.1
Higher education 1 vocational training
34
33
35
5,1
Efficiency of the commodity market
106
108
101
4,0
Labor market efficiency
56
73
86
4,0
Financial market development
121
130
120
3,1
Technological readiness
86
85
81
3,8
Market size
45
47
47
4,5
Innovations and Improvement Factors
72
73
77
3,5
Compliance with modern business requirements
91
98
90
3,7
Innovations
54
52
61
3,4
Source: formed by the author according to the data [11]
Well, the main challenge for Ukraine's competitiveness is to restore economic
growth, which would reduce unemployment and improve living conditions. In
addition, attracting domestic and foreign investment, reforming the judiciary,
combating corruption, and completing the conflict situation within the country is
important. Thus, improvement of the quality of state institutions is a priority task aimed
at improving the conditions of the internal environment, which is an important stage in
improving the level of international competitiveness of Ukraine's economy. The second
aspect of improving the level of international competitiveness is finding the
competitive advantages of Ukraine's foreign trade, namely, increasing existing ones
and creating promising ones.
Index of Inclusive Development (IDI). In the global economy today there are a
number of threats and negative trends that have a direct impact on the national
economies of the world. This led to the emergence of the concept of inclusive growth.
- 202 -