A Multifaceted Approach to Assessing Regional Competitiveness: Integrating Economic, Geographic, and Institutional Factors in Uzbekistan
Keywords:
regional competitiveness, economic growth, assessment methods, socio-economic potential, regional development, policy implicationsAbstract
Assessment of regional competitiveness is crucial in understanding and building up a sustainable economic growth. This thesis studies the different techniques and formats by which a region is evaluated as to offers its competitive advantage, and enables filling the current gap in standardized evaluation techniques. Despite the nature of regional competitiveness as a leading indicator for the economic development, no universally accepted approach has been applied for its assessment. This study applies a multi dimensional methodology to measure socio economic potential and regional performance through rating systems, comparative analysis, statistical analysis and network based assessment. The results indicate that natural and economic resources, governance structures and technological innovation affect regional competitiveness. In addition, the paper outlines the importance of regional specialization and interregional cooperation in sustaining competitive growth. Results suggest an objective methodology for integration of qualitative and quantitative indicators is useful to improve competitiveness. This research, with its implications, reinforces the need of policymakers to develop strategic approach in use of regional resources in ways that are effective and contribute to sustainable economics. Future research should involve the refinement of competitiveness assessment models using advanced data analytics and assessing the effects of global economic changes on regional development.
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