Factors influencing the ranking of maritime transport in the Global Competitiveness Report: The developing country case

Abstract

The main purpose of this study is to increase the ranking of maritime transport of the Republic of Azerbaijan in the Global Competitiveness Report and to study the relationship between the main indicators of maritime transport. A review of the conceptual framework shows that many studies assess the potential level of maritime transport in different ways based on different factors (Abdullayev, 2022). The methodology of econometric and correlation analysis of economic indicators on maritime transport is taken as the research methodology. The proposed methodological approaches have calculated several factors affecting the development of maritime transport. Statistical data on the development indicators of the maritime transport sector for 2016–2020 were obtained from the National Bureau of Statistics. The EViews software package was used in the research using the least squares method (LSM). The results of the rating showed that there are some problems in the development of maritime transport in the Republic of Azerbaijan. The results of the correlation analysis revealed a link between maritime transportation incomes and transportation expenditures as well as investment and transportation expenditures. Recommendations to improve the international rating of maritime transport of the Republic of Azerbaijan and regulate its activities were given.