SCIENTIFIC AND METHODOLOGICAL APPROACHES TO CLASSIFYING COUNTRIES ACCORDING TO THEIR LEVEL OF ECONOMIC DEVELOPMENT
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Author(s): | Matveeva A. I., Potysyev O. I., Yalunina E. N., |
| Number of journal: | 1(70) | Date: | March 2025 |
| Annotation: | Due to the transition of a number of countries from traditional economic systems to mixed models, the question of the potential of new markets in these countries is becoming acute. Investigating the problem of improving the efficiency of the market management system, practitioners experience difficulties in work- ing out a development strategy for an economic entity due to the lack of a modern tool for assessing “new” markets or emerging markets. Currently, the following group of countries belongs to the emerging markets: Brazil, India, Africa, Mexico, etc. The impor- tance of these markets is due to the fact that they occupy more than 62% of the total gross domestic product of the global economy (attribution indicator: purchasing power parity). Of course, not all companies are ready to occupy free-developing markets and there are certain requirements for them, in particular, their com- bined potential and adaptive business process management sys- tem, the ability to predict all types of risks and external challenges. Accordingly, new methodologies are required that can take into account all dimensions); the development of new data and methods (the emergence of new data sources such as satellite imagery, mobile data, artificial intelligence, opens up new opportunities for analyzing economic development); practical needs (resource forecasting helps determine which countries need the most help, investors need reliable and accurate data for making informed investment decisions in different countries). In this article, the authors have grouped the existing approaches to classifying countries according to their level of economic development, identified their advantages and disad- vantages, and the adaptability of their application by business entities. Continuous improvement of methodologies makes it possible to obtain a more accurate and comprehensive view of the world, as well as to develop more effective development strategies for all countries. This makes this topic an important area of research in economics and other disciplines. | ||
| Keywords: | approach, assessment, classification, gross domestic product, risk, efficiency, market, company, strate- gy, factors, indicators |
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| For citation: | Yalunina E. N., Matveeva A. I., Potysyev O. I. Scientific and methodological approaches to classifying countries according to their level of economic development. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2025;1(70):117—122. DOI: 10.25683/VOLBI.2025.70.1230. |
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