The changes in the methodology developed with regard to global trends were so profound and comprehensive that the WEF called it the new generation methodology "4.0".
This, in turn, gives grounds to say that the “Global Competitiveness Report 2018” is the first report of a new generation.
Some 68 new indicators were included in the capitally changed methodology, and 84 (74 percent) of 114 indicators were excluded. Thus, 70 percent of the 98 indicators are completely new.
Azerbaijan is estimated by new methodology for the first time. The country together with Turkey, Serbia, Georgia, South Africa and Croatia has entered the list top seventy countries, sharing the 69th place.
Global Competitiveness Index 4.02018 edition
Azerbaijan has significantly improved its position in the ranking by three indicators - "Infrastructure", "Education and Skills", "Dynamism of Business".
It is stressed in the report that Azerbaijan is a country where social equality is ensured at the highest level in the world.
Azerbaijan received 100 points, being placed on the first place by the level of electricity supply to the population.
At the same time, most of the sub-indicators for which Azerbaijan was at the forefront, were not taken into account in the new methodology.
For example, the negative impact was exerted on the position of Azerbaijan under the "Macroeconomic stability" indicator due to the fact that such sub-indicators as "balance of the state budget", "total public debt", "total national income", "country’s credit rating" for which Azerbaijan held high positions, were not included at all in the new methodology.
The Global Competitiveness Report, prepared using the new methodology, also includes indicators affecting the social sphere and the environment. Azerbaijan has retained its leading position under “environmental impact” and “inclusive development” indicators.
Among 140 countries, Azerbaijan ranked 31st in the business dynamism rating. It was possible to achieve such a high result thanks to the economic reforms conducted by President of Azerbaijan Ilham Aliyev.
Azerbaijan has the following positions by sub-indicators being a part of this indicator: "The required number of days to start a business" sub-indicator - 17th place, "Regulatory and legal framework for bankruptcy" sub-indicator - 17th place, "Business risks" sub-indicator - 21st place, "Influence of ideas on the company" sub-indicator - 25th place.
Despite the fact that the first "Global Competitiveness Report" of the new generation was prepared on the basis of a completely new approach and taking into account the global trends, Azerbaijan was able to show good results by some indicators. These results open up new opportunities for Azerbaijan in the future to improve its performance by other indicators as well.
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