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

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Author(s): Maja Mitrović (University of Belgrade, Serbia), Maja Marković (University of Belgrade, Serbia)and Stefan Zdravković (University of Belgrade, Serbia)
Copyright: 2017
Pages: 25
Source title: Emerging Trends in the Development and Application of Composite Indicators
Source Author(s)/Editor(s): Veljko Jeremic (University of Belgrade, Serbia), Zoran Radojicic (University of Belgrade, Serbia)and Marina Dobrota (University of Belgrade, Serbia)
DOI: 10.4018/978-1-5225-0714-7.ch014

Keywords: Data Analysis & Statistics / Data Analysis and Statistics / Information Science Reference / Library & Information Science

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

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