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The changing pattern of European country groups: Economic, financial, and health indicators, 2000–2015

Author

Listed:
  • Songul Cinaroglu

    (Department of Health Care Management, Faculty of Economics and Administrative Sciences (FEAS), Hacettepe University, 06800 Beytepe Ankara, Turkey)

  • Mehmet Top

    (Department of Health Care Management, Faculty of Economics and Administrative Sciences (FEAS), Hacettepe University, 06800 Beytepe Ankara, Turkey)

Abstract

This study compares the European country groups using economic, financial and health indicators in 2000 and 2015. The “Core” European Union (EU) countries, which are the main progenitors of the deterioration processes within the EU, have changed their cluster memberships from higher-order clusters to lower-order ones. Deposits in banks (assets) to GDP (%) and inflation at consumer prices (annual %) have played a leading role in the formation of EU country groups for 2000 and 2015. The study emphasized the importance of political cohesion and financial stance to mitigate European countries’ financial risks and welfare states.

Suggested Citation

  • Songul Cinaroglu & Mehmet Top, 2021. "The changing pattern of European country groups: Economic, financial, and health indicators, 2000–2015," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 71(4), pages 609-626, December.
    • Handle: RePEc:aka:aoecon:v:71:y:2021:i:4:p:609-626
    DOI: 10.1556/032.2021.00042
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    More about this item

    Keywords

    economic growth; financial development; health; European countries; k-means; clustering;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis

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