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Risk Assessment of Transitional Economies by Multivariate and Multicriteria Approaches

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  • Neli Tomić-Plazibat

    ()
    (Faculty of Economics, University of Split, Croatia)

  • Zdravka Aljinović

    ()
    (Faculty of Economics, University of Split, Croatia)

  • Snježana Pivac

    ()
    (Faculty of Economics, University of Split, Croatia)

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    Abstract

    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.

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    File URL: http://www.panoeconomicus.rs/casopis/2010_3/03.pdf
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    Bibliographic Info

    Article provided by Savez ekonomista Vojvodine, Novi Sad, Serbia in its journal Panoeconomicus.

    Volume (Year): 57 (2010)
    Issue (Month): 3 (September)
    Pages: 283-302

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    Handle: RePEc:voj:journl:v:57:y:2010:i:3:p:283-302

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    Web page: http://www.panoeconomicus.rs/

    Related research

    Keywords: Country-risk; Transition countries; Multivariate cluster analysis; PROMETHEE method.;

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    1. Bertrand Mareschal & Jean Pierre Brans, 1990. "The PROMETHEE methods for MCDM: the PROMCALC, GAIA and BANK ADVISER software," ULB Institutional Repository 2013/9337, ULB -- Universite Libre de Bruxelles.
    2. International Monetary Fund, 1996. "The Economic Content of Indicators of Developing Country Creditworthiness," IMF Working Papers 96/9, International Monetary Fund.
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    Cited by:
    1. San-Martín-Albizuri, Nerea & Rodríguez-Castellanos, Arturo, 2012. "Globalisation And The Unpredictability Of Crisis Episodes: An Empirical Analysis Of Country Risk Indexes / La Imprevisibilidad De Los Episodios De Crisis: Un Análisis Sobre Los Índices De Riesgo Pa�," Investigaciones Europeas de Dirección y Economía de la Empresa (IEDEE), Academia Europea de Dirección y Economía de la Empresa (AEDEM), vol. 18(2), pages 148-155.

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