Assessment of macroeconomic performances and human development levels of BRICS and MINT countries using CRITIC and COPRAS methods
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Date
2022
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Pacific Institute of Management
Access Rights
info:eu-repo/semantics/closedAccess
Abstract
Generally utilizing the macroeconomic data of the countries, their economic superiority is assessed compared to others. However, the status of the economics of the country or how superior the related country from the others do not provide, by itself, sufficient information regarding the human development of the people in the country. Thus, besides the macroeconomic performance data of the countries, also the Human development level data are used in this study and so the assessment of the countries is aimed. In the evaluation conducted, CRITIC, among the objective weighting methods, is used and the criteria are weighted, then these weight are utilized and the countries are assessed according to the COPRAS method. In the assessment held according to three different scenarios, the countries assessed both by using the macroeconomic performance and human development level data together and also by using the macroeconomic performance and human development level data separately (scenario 1- all criteria, scenario 2 - human development level criteria, scenario 3 - macroeconomic performance criteria). The BRICS and MINT which are at a trend of economic development are selected as sample to assess whether this development trend brings also the Human Development Index (HDI). In the first scenario where all the criteria are used and third scenario where just the macroeconomic performance indicators are used as criteria, according to the results of the CRITIC method, the most important criteria are defined in order as economic growth, unemployment rates and inflation rate. In the second scenario, based on the weights of the criteria, the most important criteria are found in order as mean years of schooling, the life expectancy at birth and GNI per capita. These weights determined are used within the COPRAS method and the most successful countries are found in order, according to the scenario 1 and scenario 3, as China, Russia and Indonesia. According to the scenario 2, the most successful countries are found in order as Russia, Turkey and Mexico.
Description
Keywords
BRICS and MINT Countries, CRITIC, COPRAS, Macroeconomic Performance, Human Development Index
Journal or Series
Pacific Business Review International
WoS Q Value
N/A
Scopus Q Value
Volume
14
Issue
10
