Abstract:

In the era of globalization, the development of countries with small open economies largely depends on the intensity of the use of various forms of international economic relations. At the present stage of development, the problem of competitiveness is central to the economic policy of the state. The creation of competitive advantages over competitors becomes a strategic direction of its activities. The purpose of the study is to identify factors that most significantly affect the competitiveness of the economy. A comparative analysis of the countries-participants of the Eurasian Economic Union and other integration associations in the global competitiveness rating was carried out. Multiple regression model based on a sample of 50 countries was constructed to assess the factors affecting competitiveness. The degree of influence of the Global Innovation Index, Index of Economic Freedom and Logistics Performance Index on the Global Competitiveness Index was studied. As a result, it was determined that the innovation index has a significant impact on the competitiveness of the economy. On the example of the economy of Kazakhstan, measures are proposed to stimulate innovation, which can help to increase its competitiveness.