The features of competitive ability of Ukrainian regions

The paper examines the peculiarities of competitive ability of border regions and the factors that form it as well as provides the evaluation of competitive advantages. Study of competitive ability of regions is very important and relevant issues as it is one of the major features of economic life. The paper proves that competitive ability is of interdisciplinary nature and its main designation is to gain advantage compared to other entities with creation of better conditions in the region for meeting of the residents’ needs. Current and future position of the region is the result of advantage over the competing regions. Defining the level of region’s attractiveness for business and investors is the result of defining of its competitive advantages from the viewpoint of available factors of competitive ability. Evaluation of strengths and over coming of weaknesses is possible due to the use of competitive advantages and financial possibilities. Fast integration of global economy caused the search for answers to question, which factors of competitive ability define the success of some regions and why other one operating in similar environment do not have the prevailing results. The basis of the study of competitiveness is a detailed study of macro-level, meso-level and macro-level factors, as well as the peculiarities of its formation on the basis of economic components. The key factors of competitiveness are the cost of production, quality of goods and services, regional development strategies, globalization, the functioning of professional associations, the availability of incentives for business development, regulatory framework, political situation