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THE COMPLEX EVALUATION OF ECONOMIC DEVELOPMENT OF THE BALTIC STATES AND POLAND

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Ginevicius R., Butkevičius A., Podvezko V.
Ekonomický časopis (Journal of Economics)
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2006
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vol. 54
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issue 9
918-930
EN
The economic development of the states may be described by the various criteria or indicators. The values of some criteria may be higher for some particular countries, while the values of others may be better for other states. Some of the criteria values are maximized, others are minimized. In this complicated and often conflicting situation it is hardly possible to determine which countries have a higher level of the economic development and are considered as the leaders and which are lagging behind. Even some integrated criteria used for evaluation, e. g. annual gross domestic product per capita cannot reflect all aspects of a state development. The application of the multiple criteria of the evaluation methods may give an unbiased view of the economic state of the particular countries. The data obtained in multi-criteria analysis of the economic development of the states show the effectiveness of this approach to the studying complex processes mainly because it can provide an unbiased view of the actual economic situation.
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