Abstract
Comparison of the Macroeconomic Performance Between European Union Member and Candidate Countries with Aras Method
In this study, it is aimed to analyze and compare the macroeconomic performances of European Union (EU) countries, EU candidate countries, and potential EU candidate countries in 2018. For this purpose, firstly, the literature was reviewed to determine the criteria used to compare the macroeconomic performance of the countries. Economic growth rate, GDP per capita, inflation rate, employment rate, export and import indicators were used as criteria in the analysis. The analyses were carried out through the ARAS method, which is a multi-criteria decision-making methods (MCDM). According to the findings of this analysis, the ranking of countries in terms of macroeconomic performance is Luxembourg, Ireland, Malta, Norway, Sweden, Netherlands, Denmark, Austria, Slovenia, Hungary, Germany, United Kingdom, Cyprus, Slovak Republic, Poland, Finland, France, Spain, Latvia, Estonia, Belgium, Czech Republic, Lithuania, Italy, Romania, Turkey, Portugal, Serbia, Greece, Montenegro, Albania, Bulgaria, Croatia, North Macedonia and Kosovo. In terms of macroeconomic performance, Turkey ranks higher than Kosovo, Northern Macedonia, Croatia, Bulgaria, Albania, Montenegro, Greece, Serbia, and Portugal.
Keywords
ARAS method, Macroeconomic performance, European Union (EU)
