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CLASSIFICATION OF THE EUROPEAN UNION COUNTRIES WITH AN APPLICATION OF THE MODIFIED HUMAN DEVELOPMENT INDEX
Abstract
The purpose of the publication is to classify the European Union countries with an application of the modified HDI indicator for year 2005 and 2015 The index, which will be created, is treated as a modified Human Development Index due to the fact that it will be completed with the added information. The modified synthetic index will be calculated for the following determinants: economics, science and technology, health, education and living conditions. The source data will be obtained from Eurostat databases. The synthetic index of the standard of living of the European Union countries will be created as the mean of the indices calculated for each determinant. Based on this, a ranking of EU countries will be created, as well as the classification of similar countries. The cluster analysis method will be used.
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References13
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