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Comparison of the European Union Countries and Turkey's Macroeconomic Indicators with Best Worst Method

Comparison of the European Union Countries and Turkey's Macroeconomic Indicators with Best Worst Method

Koray Yapa, Mert Durmus, Nezih Tayyar, İbrahim Akbulut
Copyright: © 2020 |Pages: 16
ISBN13: 9781799811886|ISBN10: 1799811883|ISBN13 Softcover: 9781799811893|EISBN13: 9781799811909
DOI: 10.4018/978-1-7998-1188-6.ch012
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MLA

Yapa, Koray, et al. "Comparison of the European Union Countries and Turkey's Macroeconomic Indicators with Best Worst Method." Handbook of Research on Social and Economic Development in the European Union, edited by Yilmaz Bayar, IGI Global, 2020, pp. 204-219. https://doi.org/10.4018/978-1-7998-1188-6.ch012

APA

Yapa, K., Durmus, M., Tayyar, N., & Akbulut, İ. (2020). Comparison of the European Union Countries and Turkey's Macroeconomic Indicators with Best Worst Method. In Y. Bayar (Ed.), Handbook of Research on Social and Economic Development in the European Union (pp. 204-219). IGI Global. https://doi.org/10.4018/978-1-7998-1188-6.ch012

Chicago

Yapa, Koray, et al. "Comparison of the European Union Countries and Turkey's Macroeconomic Indicators with Best Worst Method." In Handbook of Research on Social and Economic Development in the European Union, edited by Yilmaz Bayar, 204-219. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-1188-6.ch012

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Abstract

Macroeconomic indicators are used to evaluate the current performance and forecast the future state of the economy. Within the scope of the chapter; macroeconomic indicators such as GDP per capita, unemployment, inflation, real interest rates, and growth rates constitute the criteria of Multi-Criteria Decision Making (MCDM) model. The European Union (EU) countries and Turkey are the alternatives of the MCDM problem. Best Worst Method (BWM) is an MCDM method developed by Jafar Rezaei in 2015. In this method, the decision-maker identifies only the best and worst criteria and compares them with the remaining criteria. In this chapter, the macroeconomic indicators of Turkey and EU countries analyzed by BWM. As a result of the study, Luxembourg ranks first, Denmark second, and Sweden third. The last three countries are Portugal, Croatia, and Greece. Turkey ranks 24th.

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