STATISTICAL ASSESSMENT OF THE SUSTAINABILITY OF THE ECONOMIC DEVELOPMENT OF THE COUNTRIES OF THE SOUTH CAUCASUS

Abstract

Ensuring sustainable development at the current stage of economic development is a priority for every country in the world. The South Caucasus is a geopolitical region on the border of Eastern Europe and Central Asia, within which the states of Azerbaijan, Armenia and Georgia are located. Despite the close ties between themselves and the neighborhood, they have similarities and differences in political and economic systems. A mandatory condition for the implementation of the conceptual provisions of sustainable economic development of the country is the constant monitoring of changes in all sectors in order to timely identify and eliminate negative phenomena in the economy. The aim of the research is to analyze the positions of the countries of the South Caucasus (Azerbaijan, Armenia and Georgia) in international rankings in terms of dynamics; determination of the level of sustainable development of countries based on the rating of indices of leading international rating companies. The methods of the research was the logical methods of information processing, statistical analysis, comparison. The hypothesis of the research was the assumption that in order to determine the level of sustainable development of a single country at the international level, an assessment of the economic, social, and environmental components of sustainable development is necessary. The statement of basic materials. The assessment of the sustainability of the economic development of the countries of the South Caucasus (Azerbaijan, Armenia and Georgia) was carried out according to the methodology that involves the assessment of the economic, social, and ecological components of sustainable development. An analysis of the international rating systems of the leading world agencies was carried out, which makes it possible to clarify the role and place of the countries of the South Caucasus in the international ratings of the socio-economic and geopolitical development of the states. Originality and practical significance of the research. It is advisable to use the conducted research in determining the level of sustainable development of an individual country at the international level. Conclusions. The analysis of the sustainable development of the countries of the South Caucasus shows that Azerbaijan, Armenia and Georgia have approximately the same level of competitiveness and quality of life. However, Georgia has a significant gap to the better side in terms of the level of economic freedom and the index of sustainable competitiveness. According to the ecological dimension, Georgia and Azerbaijan have almost the same positions. In order to get into the top ten international rankings, countries need more active efforts to improve the perception of government openness and the effectiveness of the judicial system. The result of this should be a socially oriented, economically efficient and ecologically protective dynamic growth of the economies of Azerbaijan, Armenia and Georgia.