Economic Performance Evaluation Of Fragile 5 Countries After The Great Recession Of 2008-2009 Using Analytic Network Process And TOPSIS Methods
The Clute Institute International Business & Education Conferences, San Francısco, United States Of America, 3 - 07 August 2014, (Full Text)
- Publication Type: Conference Paper / Full Text
- City: San Francısco
- Country: United States Of America
- Istanbul University Affiliated: Yes
Abstract
Economic performance evaluation problem consists many criteria and sub criteria. Therefore it is
a kind of multi-criteria decision making (MCDM) problem. It is very important for a country to
monitor performance parameters in order to ensure that appropriate and timely decisions and
plans can be made. Suitable performance measures can ensure that governments adopt a long-term perspective and allocate the country’s resources to the most effective activities. Fragile five
(F5) countries namely Brazil, Turkey, India, Indonesia and South Africa have large and fast
growing economies. These developing countries are the members of the G20 countries. But F5
countries have also some economic problems such as current account deficit, external credit and
currency. The aim of this study is to evaluate the economic performance model of F5 countries
during 2001-2013 periods. Both Analytical Network Process (ANP) and Technique for Order
Preference by Similarity to Ideal Solution (TOPSIS) methodologies are used for the outranking of
countries using macroeconomic indicators including gross domestic product, current account
balance, general government gross debt, general government revenue, general government total
expenditure, gross national savings, inflation (average consumer prices), population, total
investment, unemployment rate, volume of exports of goods and services, volume of imports of
goods and services. In this study, subjective and objective opinions of economy expert turn into
quantitative form with ANP.
Keywords: Fragile Five Countries, Economic Crisis, Macro Economic Parameters, Economic Performance
Evaluation, Analytic Network Process, TOPSIS