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Economic Performance Evaluation of European Union Countries by Topsis Method

Mahmut Masca ()
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Mahmut Masca: Afyon Kocatepe University, Turkey

North Economic Review, 2017, vol. 1, issue 1, 83-94

Abstract: In this study, an economic performance evaluation of European Union (EU) Countries has been made by a TOPSIS (Technique for Order Priority of Similarity by Information System) method which is based on Multi Criteria Decision Making (MDCM) approach by six macro-economic data of 28 EU countries. The data belong to year of 2015. TOPSIS method has been applied for the ranking of the countries for 2015. To assess the performance of economies, six macroeconomic indicators, four of which are Maastricht criteria are used: long-term interest rates, general government deficit (-) and surplus (+) (as percentage of GDP), general government gross debt (as percentage of GDP), inflation rate, gross fixed capital formation (as percentage of GDP) and unemployment rate. The results show that Sweden had best economic performance and Greece had the worst performance in 2015.

Keywords: European Union; Maastricht Criteria; TOPSIS Method; Multi Criteria Decision Making Techniques (search for similar items in EconPapers)
JEL-codes: C13 C44 F15 (search for similar items in EconPapers)
Date: 2017
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