Comparing the Effect of Global Crisis 2008 on the Economic Performance of Turkey with EU Member States: Factor Analysis and TOPSIS Application

Abstract

The purpose of this study is to rank Turkey and EU member states according to their economic performances and generally analyse the structure of this ranking pre-crisis, crisis period, and post crisis periods in 2008. The data received in the time period between 2006 and 2012 are used within the scope of this study, 6 economic indicators are based, and the economic performance of Turkey is compared with the performance of European Union member states by using Factor Analysis and TOPSIS method. In the introduction, the information about economic crises is given and the reasons behind the Global Crisis in 2008 are examined by explaining the crisis itself in the following sections and the effects of the crisis on Turkey are summarised. In the second section of the study, the works reached as a result of reviewing the literature are found, and the importance, purpose and scope of the study are explained and the information about the data set used is provided in the third section. The information related to the Factor Analysis used in the study and the TOPSIS method is provided in the fourth section. The fifth section under the heading of Empirical Findings is death into two separate sub headings. In the first sub heading, the findings of Factor Analysis from multivariate statistical analysis techniques and in the other sub heading, the findings of TOPSIS are included. The relevant findings are interpreted. In the conclusion section, the findings acquired as a result of Factor Analysis and TOPSIS techniques applications are evaluated comparatively, and the results are examined in terms of Turkey and periods (pre-crisis, crisis period, and post crisis).