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Nonparametric Approach to Evaluation of Economic and Social Development in the EU28 Member States by DEA Efficiency

1
Department of European Integration, Faculty of Economics, VŠB—Technical University of Ostrava, Sokolská třída 33, 702 00 Ostrava 1, Czech Republic
2
Department of System Engeneering, Faculty of Economics, VŠB—Technical University of Ostrava, Sokolská třída 33, 702 00 Ostrava 1, Czech Republic
*
Author to whom correspondence should be addressed.
J. Risk Financial Manag. 2019, 12(2), 72; https://doi.org/10.3390/jrfm12020072
Received: 27 March 2019 / Revised: 20 April 2019 / Accepted: 22 April 2019 / Published: 24 April 2019
(This article belongs to the Special Issue Nonparametric Econometric Methods and Application)
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Abstract

Data envelopment analysis (DEA) methodology is used in this study for a comparison of the dynamic efficiency of European countries over the last decade. Moreover, efficiency analysis is used to determine where resources are distributed efficiently and/or were used efficiently/inefficiently under factors of competitiveness extracted from factor analysis. DEA measures numerical grades of the efficiency of economic processes within evaluated countries and, therefore, it becomes a suitable tool for setting an efficient/inefficient position of each country. Most importantly, the DEA technique is applied to all (28) European Union (EU) countries to evaluate their technical and technological efficiency within the selected factors of competitiveness based on country competitiveness index in the 2000–2017 reference period. The main aim of the paper is to measure efficiency changes over the reference period and to analyze the level of productivity in individual countries based on the Malmquist productivity index (MPI). Empirical results confirm significant disparities among European countries and selected periods 2000–2007, 2008–2011, and 2012–2017. Finally, the study offers a comprehensive comparison and discussion of results obtained by MPI that indicate the EU countries in which policy-making authorities should aim to stimulate national development and provide more quality of life to the EU citizens. View Full-Text
Keywords: competitiveness; country competitiveness index; DEA; efficiency; European Union; factors; indicators; Malmquist productivity index competitiveness; country competitiveness index; DEA; efficiency; European Union; factors; indicators; Malmquist productivity index
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Melecký, L.; Staníčková, M.; Hančlová, J. Nonparametric Approach to Evaluation of Economic and Social Development in the EU28 Member States by DEA Efficiency. J. Risk Financial Manag. 2019, 12, 72.

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