Economic and Institutional Conditions for Implementation of Economic Interests in the Countries of the World

Viktoriia Smiesova, Anna Pylypenko, Marina Ivanova and Roman Karpenko

Montenegrin Journal of Economics, 2019, vol. 15, issue 4, 75-86

Abstract: The study investigates economic and institutional conditions for reproduction of economic relations and implementation of economic interests in the countries of the world. A new methodological approach to their estimation has been proposed; it is based on Kohonen’s self-organising maps and allows processing a large amount of data, revealing system relationships between them, visualizing the results, grouping the countries of the world and comparing their economic and institutional capacities in the implementation of economic interests of the entities. The study applies both the indicators of the effectiveness of the economic and institutional environment and the entities’ perception of the level of protection of their property rights and interests and economic and institutional conditions in the country for the reproduction of economic relations. The analysis is based on macroeconomic statistics, which ensures the relevance and comparability of indicators in the countries of the world.

Date: 2019
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