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Comparative Analysis of OECD Countries in Terms of Basic Science and Technology Indicators Using Entropy and WASPAS Methods

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  • Selahattin Yavuz
  • Müge Manga

Abstract

Practical analysis of the policies implemented by countries successful in the field of science and technology is crucial, especially in the context of optimal policy selection for countries needing technological development. In this context, ranking the world's countries in terms of technological development is important for increasing the effectiveness of the policies to be implemented in this field. This study ranks 28 OECD countries on seven key science and technology indicators in 2022 using multi-criteria decision making (MCDM) methods. In the analysis, first, the importance of the variables was ranked based on the entropy method. Then, a ranking was made among the selected countries in terms of technological performance using the weighted aggregated sum product assessment (WASPAS) method. The findings obtained with the WASPAS method were confirmed with the additive ratio assessment (ARAS) method. Among the identified variables, the export market (share of computer, electronics and optics sector) parameter was selected as the most dominant criterion. Korea, Germany, Japan, France and the Netherlands were determined to be the best performing in terms of basic science and technology indicators. On the other hand, it can be said that Chile, Latvia, Luxembourg and Lithuania need more effective policies in terms of technology and innovation indicators. In this context, it can be suggested that the policies implemented by countries at the forefront in technological development should be a guide for other countries.

Suggested Citation

  • Selahattin Yavuz & Müge Manga, 2024. "Comparative Analysis of OECD Countries in Terms of Basic Science and Technology Indicators Using Entropy and WASPAS Methods," Politická ekonomie, Prague University of Economics and Business, vol. 2024(5), pages 812-840.
  • Handle: RePEc:prg:jnlpol:v:2024:y:2024:i:5:id:1447:p:812-840
    DOI: 10.18267/j.polek.1447
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    More about this item

    Keywords

    Main science and technology indicators; OECD countries; multi-criteria decision making methods;
    All these keywords.

    JEL classification:

    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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