Authors : Natalya Evgenievna Buletova, Igor Arkadievich Zlochevsky, Elena Nicolaevna Kravchenko and Igor Vadimovich Sharkevich
Abstract: The availability of and demand for the countries ratings that based on the key indicators of their socio-economic development has made the major international organizations publish such data and the rankings of the UN, The World Bank, the IMF are the most detailed and reliable in the world. However, the disparities and differences in the level of development of the countries is at such extent that the common distribution of the ranked values on the decreasing or increasing curve is not enough as this ordinal distribution does not take into account the non-linearity which is characteristic for the countries that achieved success in their socio-economic development. The development of an effective ranking method that helps to measure the non-linear distribution of the socio-economic development indicators and to take into account the degree of difference between the territories that are being ranked, allows any person concerned to assess the objects of management and get reliable information for the retrospect development of the territories as well as for an adequate definition of the targets of the strategic development, taking into account the current degree of differentiation for every socio-economic indicator or all together in the rating system. And this method can help not only to increase the reliability of the monitoring which concerns the results countries development but also is a tool to choose the priorities in investment, migration, development of external economic relations.
Natalya Evgenievna Buletova, Igor Arkadievich Zlochevsky, Elena Nicolaevna Kravchenko and Igor Vadimovich Sharkevich, 2018. Application of Method of Effective Ranking in the Construction of the Ratings (For Example, GDP per Capita). Journal of Engineering and Applied Sciences, 13: 1725-1731.