State sovereignty index as an indicator of public decision-making

Abstract

The world community and governments are constantly on the lookout for an effective benchmark for countries: the benchmark for their success or failure, security and vulnerability, quality of life, openness, etc. All indices are inherently objective integrators of subjectively objective indicators. The confidence in the index is based on the equilibrium of these categories. The study tried to evaluate the degree of the sovereignty of the countries, and that of Ukraine in particular, with the help of the objectivity, which can be involved by the powerful econometric apparatus. Selection, normalization, estimation of stationarity and correlation analysis gave permission to accumulate the base of more than 40 statistical indicators for the countries of the world to a generalized index and forecast the development of its dynamics for the future. The country's sovereignty index is considered to be integral and having a scale from 0 to 100. For a more visual presentation of the results, the scale of the sovereignty index is proposed for comparable countries, with the definition of a country conditionally relatively independent of the influence and recommendations of external international organizations or entities. It turned out that, in general, all the studied countries had a similar tendency for the development of the phenomenon, which confirms the effect of globalization and synergy in the external activity of these countries. This index may turn into a future measure of the success and failure of government policy and become an instrument for choosing the direction of the country's development.