Elite Quality and the Level of Economic Development in the Countries of the Eurasian Economic Union

Abstract

Based on the synthesis of cardinalist and ordinalist approaches to measuring economic processes and phenomena (data for 141 countries), we have analysed the relationship between GDP per capita, PPP (current international dollars), and Elite Quality Index.

The obtained results allow us to forecast an average annual increase in GDP per capita at PPP in current prices (international dollars) due to changes in the quality of elites in Kazakhstan in the amount of +3.61%, in the Kyrgyz Republic +1.50%. At the same time, this indicator is projected to decrease in Armenia by -2.28%, Belarus by -21.74%, and Russia by -27.89%.

Taking into account the disposable human capital the projected GDP per capita in PPP based on the potential Elite Quality Index is estimated for Kazakhstan in the amount of 26.0 thousand international dollars, the Kyrgyz Republic - 22.8, the Republic of Armenia - 20.8, Belarus - 34.6, Russia - 32.9.