<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The paper presents the process of ranking and classifying countries using the I-distance method. The I-distance method is a method of classification and multidimensional ranking based on the distance values between selected indicators. The selection of indicators was carried out using the principal components analysis, whereby the statistical software SPSS (Statistical Package for Social Sciences), the latest version 21th PASW Statistics, is used. The application of the I-distance determines the relative efficiency indicators. Classification and ranking are conducted based on the economic development using macroeconomic indicators for the selected European countries.</p></abstract>

The paper presents the process of ranking and classifying countries using the I-distance method. The I-distance method is a method of classification and multidimensional ranking based on the distance values between selected indicators. The selection of indicators was carried out using the principal components analysis, whereby the statistical software SPSS (Statistical Package for Social Sciences), the latest version 21th PASW Statistics, is used. The application of the I-distance determines the relative efficiency indicators. Classification and ranking are conducted based on the economic development using macroeconomic indicators for the selected European countries.

Process of ranking countries by level of development

Croatian Review of Economic, Business and Social Statistics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Process of ranking countries by level of development"}

The paper presents the process of ranking and classifying countries using the I-distance method. The I-distance method is a method of classification and...

Process of ranking countries by level of development

Published Online: Jun 29, 2018

Page range: 53 - 61

Received: Apr 08, 2018

Accepted: Jun 14, 2018

DOI: https://doi.org/10.2478/crebss-2018-0005

Keywords
classification, EU countries, I-distance method, principal components analysis, ranking

© 2018 Željko V. Račić, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Process of ranking countries by level of development

Published Online: Jun 29, 2018

Page range: 53 - 61

Received: Apr 08, 2018

Accepted: Jun 14, 2018

DOI: https://doi.org/10.2478/crebss-2018-0005

Keywordsclassification, EU countries, I-distance method, principal components analysis, ranking

© 2018 Željko V. Račić, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
classification, EU countries, I-distance method, principal components analysis, ranking