The following information was submitted:
Transactions: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Transactions ID Number: 29-469
Full Name: Natasa Kurnoga Zivadinovic
Position: Assistant Professor
Age: ON
Sex: Male
Address: Trg J. F. Kennedyja 6, HR-10000 Zagreb
Country: CROATIA (HRVATSKA)
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E-mail address: nkurnoga@efzg.hr
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Title of the Paper: Cluster and Factor Analysis of Structural Economic Indicators for Selected European Countries
Authors as they appear in the Paper: Natasa Kurnoga Zivadinovic, Ksenija Dumicic, Anita Ceh Casni
Email addresses of all the authors: nkurnoga@efzg.hr, kdumicic@efzg.hr, aceh@efzg.hr
Number of paper pages: 11
Abstract: The last 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. These countries were gathered into homogenous groups in terms of the following structural economic indicators: GDP per capita, total employment rate, comparative price levels, employment rate of older workers, long term unemployment and productivity of national economies expressed in relation to the European Union (EU-27) average. Firstly, the cluster analysis was used on three structural economic indicators: GDP per capita, total employment rate and comparative price levels. The hierarchical cluster analysis and non-hierarchical cluster analysis were applied and gave similar results. The factor analysis was then provided to find !
out the common factors of six structural economic indicators: GDP per capita, total employment rate, comparative price levels, employment rate of older workers, long term unemployment and productivity of national economies. Two factors were extracted and the factor scores for each observation were calculated. The factor scores were used in further cluster analysis and again similar results of classification was given.
Keywords: Classification, Structural economic indicators, Multivariate methods, Hierarchical cluster analysis, Non-hierarchical cluster analysis, Factor analysis
EXTENSION of the file: .doc
Special (Invited) Session: Multivariate Analysis of Structural Economic Indicators for Croatia and EU 27
Organizer of the Session: 614-415
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