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Statistical Approach for Ranking OECD Countries Based on Composite GICSES Index and I-Distance Method

Statistical Approach for Ranking OECD Countries Based on Composite GICSES Index and I-Distance Method

Maja Mitrović, Maja Marković, Stefan Zdravković
Copyright: © 2017 |Pages: 25
ISBN13: 9781522507147|ISBN10: 1522507140|EISBN13: 9781522507154
DOI: 10.4018/978-1-5225-0714-7.ch014
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MLA

Mitrović, Maja, et al. "Statistical Approach for Ranking OECD Countries Based on Composite GICSES Index and I-Distance Method." Emerging Trends in the Development and Application of Composite Indicators, edited by Veljko Jeremic, et al., IGI Global, 2017, pp. 324-348. https://doi.org/10.4018/978-1-5225-0714-7.ch014

APA

Mitrović, M., Marković, M., & Zdravković, S. (2017). Statistical Approach for Ranking OECD Countries Based on Composite GICSES Index and I-Distance Method. In V. Jeremic, Z. Radojicic, & M. Dobrota (Eds.), Emerging Trends in the Development and Application of Composite Indicators (pp. 324-348). IGI Global. https://doi.org/10.4018/978-1-5225-0714-7.ch014

Chicago

Mitrović, Maja, Maja Marković, and Stefan Zdravković. "Statistical Approach for Ranking OECD Countries Based on Composite GICSES Index and I-Distance Method." In Emerging Trends in the Development and Application of Composite Indicators, edited by Veljko Jeremic, Zoran Radojicic, and Marina Dobrota, 324-348. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-0714-7.ch014

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Abstract

This chapter will explore the impact of cognitive skills on education. In the case of OECD (Organisation for Economic Co-operation and Development) countries, it will be examined the relation between the level of education to the economic situation of a state. Case study work is based on a statistical approach of OECD countries ranking, based on The Global Index of Cognitive Skills and Educational Attainment (GICSES) and Ivanovic distance (I-distance). The chapter will be presented to rank these countries based on the value of the global index. Using I-distance method it will be formed a new order, and then it will be carried out a comparative analysis of these two ways of ranking. The aim of the chapter is to present a new approach to the evaluation of a composite indicator based on the multivariate statistical analysis.

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