A Multidimensional Scaling Application on GDP and CO2 Emissions Data: Country Groups for Policy Implementations

Gizay Daver () and Ersin Kanat ()
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Gizay Daver: Zonguldak Bulent Ecevit University
Ersin Kanat: Zonguldak Bulent Ecevit University

A chapter in Transformational Trends in Finance, Banking, and Economics, 2025, pp 111-125 from Springer

Abstract: Abstract The goal of this study is to classify countries worldwide to lay the groundwork to achieve the sustainable development goals set by the United Nations. The classification takes into account similarities and dissimilarities between countries in terms of their GDP levels and CO2 emissions. To achieve this, data from 217 countries from the World Development Indicators database of the World Bank for the most recent 50 years is considered. Due to data limitations, exclusions and extractions are made, and the scope of this study is limited to 161 countries and 30 years, from 1990 to 2019. The study offers a set of development strategies to be applied to countries with similar characteristics, while taking into account their dissimilarities. Countries that are found to have similar attributes are encouraged to follow a similar development policy while considering their strengths and weaknesses. Countries that are found to be different are warned against adopting “one size fits all” solutions, as they may not be suitable for their unique circumstances. The ultimate goal is to benefit all nations.

Keywords: World countries; Sustainable development; CO2 emissions; Gross domestic product; Multidimensional scaling (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-81532-4_6

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DOI: 10.1007/978-3-031-81532-4_6

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