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Institutional, Economic, and Social Impacts of Globalization and Liberalization: Financial Performance Analysis in the Context of Globalization – An Analysis for the EU and Turkey

Institutional, Economic, and Social Impacts of Globalization and Liberalization: Financial Performance Analysis in the Context of Globalization – An Analysis for the EU and Turkey
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Author(s): Dilek Murat (Bursa Uludag University, Turkey) and Simla Güzel (Tekirdag Namık Kemal University, Turkey)
Copyright: 2021
Pages: 16
Source title: Handbook of Research on Institutional, Economic, and Social Impacts of Globalization and Liberalization
Source Author(s)/Editor(s): Yilmaz Bayar (Bandirma Onyedi Eylul University, Turkey)
DOI: 10.4018/978-1-7998-4459-4.ch010

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Abstract

The present study aimed to rank the financial development levels of European Union (EU) nations and Turkey based on selected financial and economic indicators. Thus, the most recent annual data for these countries (2017) were analyzed with grey relational analysis (GRA). In the analysis, the decision criteria for 24 EU member nations and Turkey were determined as public debt, public expenditure, unemployment rate, Gini coefficient, and GDP growth. The grey coefficient scores obtained in the analysis revealed the financial performance ranking for the analyzed nations. Based on the entropy weighting method (EM) ranking, the top three countries with highest scores were Ireland, Czech Republic, and Slovakia, while the countries with the lowest scores were Spain, Italy, and Greece.

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