Multivariate analysis of structural economic indicators for Croatia and EU 27

  • Authors:

  • Natasa Kurnoga Zivadinovic;Ksenija Dumicic;Anita Ceh Casni

  • Affiliations:

  • Department of Statistics, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia;Department of Statistics, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia;Department of Statistics, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia

  • Venue:
  • MAASE'09 Proceedings of the 2nd WSEAS international conference on Multivariate analysis and its application in science and engineering
  • Year:
  • 2009

Quantified Score

Hi-index 0.00

Visualization

Abstract

The last (5th) wave of EU enlargement ended on 1st January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. In that sense, the cluster analysis was applied. The mentioned countries were gathered into homogenous groups in terms of the following structural economic indicators: GDP per capita, total employment rate and comparative price levels. The hierarchical cluster analysis and nonhierarchical cluster analysis were applied and gave similar results.