Risk assessment of transitional economies by multivariate and multicriteria approaches

This article assesses country-risk of sixteen Central, Baltic and South-East European transition countries, for 2005 and 2007, using multivariate cluster analysis. It was aided by the appropriate ANOVA (analysis of variance) testing and the multicriteria PROMETHEE method. The combination of methods...

Full description

Saved in:
Bibliographic Details
Published in:Panoeconomicus 2010, Vol.57 (3), p.283-302
Main Authors: Tomic-Plazibat, Neli, Aljinovic, Zdravka, Pivac, Snjezana
Format: Article
Language:English
Subjects:
country-risk
multivariate cluster analysis
PROMETHEE method
transition countries
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This article assesses country-risk of sixteen Central, Baltic and South-East European transition countries, for 2005 and 2007, using multivariate cluster analysis. It was aided by the appropriate ANOVA (analysis of variance) testing and the multicriteria PROMETHEE method. The combination of methods makes for more accurate and efficient country-risk assessment. Country risk classifications and ratings involve evaluating the performance of countries while considering their economic and socio-political characteristics. The purpose of the article is to classify, and then find the comparative position of each individual country in the group of analyzed countries, in order to find out to which extent development of market economy and democratic society has been achieved. nema
ISSN:1452-595X
2217-2386
DOI:10.2298/PAN1003283T