EFFECTS OF APPLYING STATISTICAL METHODS IN GLOBAL SUSTAINABLE COMPETITIVENESS INDEX CREATION

Abstract

Linking the concept of sustainable development, as demanding per capita prosperity does not decline over a long period of time, and the concept of competitiveness, which reflects the level of productivity of national economies, is a new approach to development called sustainable competitiveness. The care for the scarcity of resources and the preservation of their base so that future generations will have the same level of well-being as today's generation have, requires the incorporation of environmental and social issues and problems into the concept of competitiveness. In this way, a new context of competitiveness analysis is introduced and is meeting the challenges of the concept of sustainable development.The methodology of the composite index of sustainable competitiveness was first developed by the World Economic Forum (WEF), followed by organizations such as SolAbility - Sustainable Intelligence. SolAbility methodology of Global Sustainable Competitiveness Index (GSCI) creation is the subject of research in this paper. The aim of research is the proposal of a new methodology for calculating GSCI based on different weights assigned to the pillars included in the Index. The paper concludes that the highest relative importance in the structure of the GSCI belongs to the Intellectual capital dimension. The originality of this work is reflected in the creation of a new ranking of countries in terms of sustainable competitiveness. An analysis of possible changes in the ranking list is a good basis for a new analysis of the sustainable competitiveness of countries, in which some of the professional and statistical rules comments on its calculation methodology are accepted.