Comparison of the Macroeconomic Performance of European Union Countries and Hungary with the TOPSIS Method

Authors : Abdullah Kılıçarslan, Mustafa Çağrı Sucu

Pages : 212-229

View : 60 | Download : 55

Publication Date : 2024-06-30

Article Type : Research Paper

Abstract :Macroeconomic data are the key indicators for assessing economic development and effective use of country resources for both local and foreign investors. In this respect, the macroeconomic performance of the countries determines the future of many economic and financial factors. In this study, the macroeconomic performances of the European Union and Hungary are compared using the TOPSIS method over the 1980-2021 data. GDP growth (annual, %), consumer price inflation (annual, %), unemployment rate and current account balance (as a percentage of GDP) data were used as criteria to evaluate macroeconomic performance. The criteria were weighted using the NMD method and four macroeconomic performance indicators. TOPSIS ranking results were calculated separately for the relevant periods in accordance with the weighting values, and the ranking results were converted into integrated ranking results using the Copeland method. The relationships between the ranking results were analyzed with Spearman correlation using SPSS 26 program and the level of relationship between them was tried to be determined. In the study, it has been concluded that Hungary performed in line with EU countries in the context of 2017 and 2021, when the most successful performance was produced, and differed negatively from EU countries on the basis of 1991, when the lowest performance was produced.
Keywords : Makroekonomik Performans, Avrupa Birliği, Macaristan, TOPSİS Yöntemi