Multivariate Analysis of Structural Economic Indicators for Croatia and EU 27

Zivadinovic N. K., Dumicic K., Casni A. C.

2nd WSEAS International Conference on Multivariate Analysis and Its Application in Science and Engineering, İstanbul, Turkey, 30 May - 01 June 2009, pp.134-139 identifier

  • Publication Type: Conference Paper / Full Text
  • City: İstanbul
  • Country: Turkey
  • Page Numbers: pp.134-139
  • Istanbul Technical University Affiliated: No


The last (5(th)) wave of EU enlargement ended on 1(st) January 2007 with the accession of Romania and Bulgaria. Many countries of the South-Eastern Europe aspire to join the EU. Croatia appears to be the next prospective member, so the aim of this paper was to classify Croatia and EU 27 Member States according to the structural economic indicators. In that sense, the cluster analysis was applied. The mentioned countries were gathered into homogenous groups in terms of the following structural economic indicators: GDP per capita, total employment rate and comparative price levels. The hierarchical cluster analysis and non-hierarchical cluster analysis were applied and gave similar results