Abstract: The aim of this research is to investigate the differences in the competitiveness of Norway and Russia, two oil and gas rich countries, with the aid of the global competitiveness index 4.0 framework. Results show that the differences arise in the areas of institutions, innovation capability, financial system, labour market, and skills, which are influenced to a certain extent by variations in government policies and national cultures. Findings of this very first comparative competitiveness study of Norway and Russia support the argument that natural resources are not by themselves sufficient to create competitiveness, and they provide suggestions for Russian policymakers in order to improve Russia’s competitiveness.
Keywords: Competitiveness, global competitiveness index 4.0 framework, Norway, Russia
Nazar Kokaurov, corresponding author, international business student, JAMK University of Applied Sciences, School of Business, Rajakatu 35, 40200, Jyväskylä, Finland, kokaurovn99 (at) gmail.com
Murat Akpinar, JAMK University of Applied Sciences, School of Business, Rajakatu 35, 40200, Jyväskylä, Finland, murat.akpinar (at) jamk.fi