A METHOD TO IMPROVE ECONOMIC PERFORMANCE EVALUATION USING CLASIFICATION TREE MODELS
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 3, Issue 4
Abstract
In this paper we propose a method for improving the evaluation process of economic performance applied for the case of the 28 European Union countries based on macroeconomic indicators, Hierarchical Cluster Analysis and CHAID decision trees. Using indicators of economic growth, current account, labour productivity, unemployment rate and real net earnings for the year 2013 we first applied a Hierarchical Cluster Analysis and identified two main E.U. country clusters— one corresponding to high economic performance countries and the second one corresponding to the E.U. countries with lower economic performances in 2013. We then build several CHAID decisional trees and tested their prediction ability in order to determine the most efficient model that can correctly classify the E.U. countries into high and low economic performance countries.
Authors and Affiliations
Madalina Ecaterina POPESCU| (Corresponding Author) The Bucharest University of Economic Studies, 6 Romana Square, 010374, Bucharest, Romania The National Scientific Research Institute for Labour and Social Protection, 6-8 Povernei Str., District 1, Bucharest, 010643, Romania; madalina.andreica@gmail.com; +40722827889, Marin ANDREICA| The Bucharest University of Economic Studies, 6 Romana Square, 010374, Bucharest, Romania, marinandreica@gmail.com, Dragos MICU| The Bucharest University of Economic Studies, 6 Romana Square, 010374, Bucharest, Romania, micuvdragos@gmail.com
Keywords
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- EP ID EP10462
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