Analysis of the Eurozone’s Resilience to Crises and Disturbances in the Context of EU Development Strategies—Contemporary Approach Using Anfis

Sonja Brlečić Valčić, Anita Peša and Dijana Čičin-Šain ()
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Sonja Brlečić Valčić: Department of Economics, University of Zadar, 23000 Zadar, Croatia
Anita Peša: Department of Economics, University of Zadar, 23000 Zadar, Croatia
Dijana Čičin-Šain: Department of Economics, University of Zadar, 23000 Zadar, Croatia

Sustainability, 2022, vol. 14, issue 23, 1-28

Abstract: In the context of the capability of economies to adapt their strategies in response to changing economic circumstances, this paper examines the resilience to crises and disturbances of Eurozone member countries in accordance with the priorities and strategies of the European Commission for development. Given that significant discrepancies were noted in the success of the growth of developed economies in the years after the last financial crisis, i.e., the resilience of economies to recover from the crisis, 25 variables of interest were selected for analysis in accordance with the European development guidelines. The selected variables have been classified into clusters using a dendrogram, and the set of variables in the formed clusters were then analyzed using the Adaptive neuro-fuzzy inference system (ANFIS). The conducted analysis highlighted the importance of parameters such as energy imports dependency, real GDP per capita, share of trade with the EU27, gross domestic expenditure on R&D and trade volume indices, and they served as output variables in the observed models. While based on the previously performed clusters, these other parameters have been classified into clusters of prominent variables of importance. The conducted analysis can be used to determine investment priorities in terms of strengthening the resilience of the Eurozone.

Keywords: resilience; economic disturbances; crisis; Eurozone; EU development strategies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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