Statistical Evaluation of the EU Countries using Economic Indicators

AuthorOpris (Stanila), M. - Demeter, T. - Palade, A.
PositionDept. of Economic Sciences and Business Administration, Transilvania University of Brasov
Pages201-208
Bulletin of the Transilvania University of Braşov
Series V: Economic Sciences • Vol. 7 (56) No. 1 - 2014
STATISTICAL EVALUATION OF THE EU
COUNTRIES USING ECONOMIC
INDICATORS
M. OPRIŞ (STNIL)1 T. DEMETER1
A. PALADE1
Abstract: The purpose of this paper is to evaluate the EU de velopment
area for the year 2012, using main statistical indicators. The cluster
analysis and the Principal Component An alysis are the methods used to
compare the 28 EU countries, the EU members, with each other and to
determine the resemblances and the differences between them. The results
show that the optimal solution is to create three clusters, allowing a suitable
differentiation between the countries, while keeping the homogeneity among
the countries it comprises.
Key words: EU countries, Principal Component Analysis, Clus ter
analyses.
1 Dept. of Economic Sciences and Business Administration, Transilvania University of Braşov.
1. Introduction
European economies have faced a
number of challenges in the past few years.
After a hard recovery from the significant
difficulties brought by the global economic
crisis, concerns about the sustainability of
debts in Greece and a number of other
European countries continue to raise
questions about the viability of the euro
itself, and some about the sustainability of
the European Union. Some countries are
now facing another deep recession in the
region, with the inflation rising, and
concerns arise about the effects of these
difficulties on other parts of the world.
Despite these challenges, several
European countries continue to feature
among the most competitive economies in
the world prominently.
The present paper highlights the
importance of the economic indicators of
the EU countries members, using the latest
theories in the field, an original model for
determining the connection between
economic factors. The paper aims to
answer the problem of evaluating the EU
development area for the year 2012,
presenting the results of a comparative
analysis conducted from the economic
point of view, using the most recent
statistical data.
The paper covers an empty space in the
field of regional development evaluation,
especially the EU economic development,
using official statistics of Eurostat
collected from a recent period, the year
2012. The work attempts at presenting the
latest data, analysed with state of the art
methods.

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT