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Performance Evaluation of G20 Countries’ Fight Against COVID-19 Using Multiple Criteria Decision-Making Methods

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  • Seda Karakaş Geyik

    (İstanbul Üniversitesi, İktisat Fakültesi Ekonometri Bölümü, İstanbul, Türkiye.)

  • Mehmet Hakan Satman

    (İstanbul Üniversitesi, İktisat Fakültesi Ekonometri Bölümü, İstanbul, Türkiye.)

  • Gülin Kalyoncu

    (İstanbul Üniversitesi, Sosyal Bilimler Enstitüsü Yöneylem Anabilim Dalı, İstanbul, Türkiye.)

Abstract

The COVID-19 pandemic has affected countries around the whole world in many different areas. The main determinants of a country’s performance against the pandemic can be summarized through criteria such as the strength of its current health system, economic structures, demographic structures, restrictions, and support. Countries’ strategies also involve the consensus that has been reached by international organizations. The main purpose of this study is to evaluate the performance of G20 countries using multiple criteria decision-making (MCDM) methods. The criteria were first weighted using the CRITIC method, with the number of cases, number of deaths, liquidity supports, and additional expenditures in the health sector having been determined as the most important criteria. The data were then analyzed using MCDM methods to obtain countries’ rankings. As a result, the most successful countries were respectively determined as Australia, Japan, and China, while Brazil, Mexico, and South Africa came in the respective last three places.

Suggested Citation

  • Seda Karakaş Geyik & Mehmet Hakan Satman & Gülin Kalyoncu, 2022. "Performance Evaluation of G20 Countries’ Fight Against COVID-19 Using Multiple Criteria Decision-Making Methods," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 0(37), pages 27-52, December.
    • Handle: RePEc:ist:ekoist:v:0:y:2022:i:37:p:27-52
    DOI: 10.26650/ekoist.2022.37.1161945
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    References listed on IDEAS

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    1. Warwick McKibbin & David Vines, 2020. "Global macroeconomic cooperation in response to the COVID-19 pandemic: a roadmap for the G20 and the IMF," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(Supplemen), pages 297-337.
    2. Christian Klamler, 2005. "The Copeland rule and Condorcet’s principle," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(3), pages 745-749, April.
    3. Bipasha Barua & Suborna Barua, 2021. "COVID-19 implications for banks: evidence from an emerging economy," SN Business & Economics, Springer, vol. 1(1), pages 1-28, January.
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    More about this item

    Keywords

    Multiple Criteria Decision Making; Copeland Method; COVID-19; G20;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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