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Title: Assessment of Sustainable Socioeconomic Development in European Union Countries
Authors: Skvarciany, Viktorija
Jurevičienė, Daiva
Volskytė, Gintarė
Keywords: sustainable development
socioeconomic development
multicriteria decision-making approach (MCDA)
evaluation based on distance from average solution (EDAS)
hierarchical cluster analysis (HCA)
Issue Date: 2020
Publisher: MDPI
Citation: Skvarciany, V.; Jurevičienė, D.; Volskytė, G. Assessment of Sustainable Socioeconomic Development in European Union Countries. Sustainability 2020, 12, 1986.
Series/Report no.: 12;5
Abstract: There are still debates in the scientific literature about the factors influencing countries’ sustainable socioeconomic development. Therefore, the current article aims at determining the factors of sustainable socioeconomic development and assessing its level in the EU countries. The following methods were employed for the research: an evaluation based on distance from average solution (EDAS) and hierarchical cluster analysis (HCA). EDAS was used to reveal which countries have the highest level of sustainable socioeconomic development, and which have the lowest. The ranking was done based on the appraisal score, which is an outcome of EDAS. Hierarchical cluster analysis (HCA) was used for clustering the countries based on the appraisal scores in order to distinguish groups of countries having a similar level of sustainable socioeconomic development. The results revealed that the highest level of sustainable socioeconomic development is in Germany, and the lowest in Portugal. Based on HCA, the countries were divided into three groups. The first cluster’s countries have the weakest sustainable socioeconomic development, and countries assigned to the third cluster have the best. In the current research, the third cluster consists of one country, Germany, which supports the results obtained with the EDAS method, i.e., Germany is the country with the highest level of sustainable socioeconomic development in the EU.
Description: This article belongs to the Section Economic and Business Aspects of Sustainability
URI: http://dspace.vgtu.lt/handle/1/3986
ISSN: 2071-1050
Appears in Collections:Moksliniai straipsniai / Research articles

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