COUNTRY RATINGS: TODAY AND TOMORROW

Abstract

Practical use of the most well-known country ratings does not always allow obtaining objective information about the real situation in various countries and assessing the prospects for their development. Popular wisdom expressed by the aphorism ‘We have not noticed how the truth has been replaced with ratings’ is becoming increasingly popular. The article proposes a tool for analyzing the relationship between the positions of different countries in the most popular ratings, based on the use of a matrix of paired correlation coefficients, assessing their significance according to the Pearson criterion and the strength of the correlation connection on the Cheddock scale. Based on the calculations, it was found that the dynamics of the countries advancement in the Doing Business ranking did not have statistically significant correlation with almost any ratings and macroeconomic indicators characterizing the real dynamics of socio-economic development. Shortcomings in the methods of ranking countries by prosperity, social development, rule of law index, level of perception of corruption, global happiness index are considered. Arguments are made that once the Coronavirus pandemic has been overcome, it is more likely that ratings will be more in demand to assess the quality of national security and the extent to which sustainable development goals have been achieved. It is proved that it is advisable to include the Global competitiveness rating, Human development index and SDG index as the most promising ratings that clearly demonstrate the country’s specific achievements in economic reforms and the growth of its international prestige.