IDEAS home Printed from https://ideas.repec.org/a/rom/rampas/v2016y2016i27p46-61.html
   My bibliography  Save this article

Sensitivity and vulnerability of European countries in time of crisis based on a new approach to data clustering and curvilinear analysis

Author

Listed:
  • David BECERRA ALONSO

    (Associate Professor, PhD; Universidad Loyola Andalucía; Córdoba; Spain)

  • Armenia ANDRONICEANU

    (Professor PhD; Bucharest University of Economic Studies, Department of Administration and Public Management; Bucharest; Romania)

  • Irina GEORGESCU

    (Lecturer PhD; Bucharest University of Economic Studies, Department of Economic Informatics and Cybernetics; Bucharest; Romania)

Abstract

In this paper we inquire into the way the global crisis during the period 2008- 2012 reflected in some macroeconomic and social indicators of the EU member states. Applying Curvilinear Component Analysis (CCA) on a dataset representing these social indicators, a classification of EU countries is obtained. Comparing this classification with the one resulted from a previous study with self organizing maps (SOM) it was noticed that the clusters are almost identical, CCA having the advantage of dimensionality reduction over SOM. CCA shows the detailed distances between the countries/year, dismissing outliers. This allows for a case by case study both in terms of clustering and in terms of temporal analysis. The research findings prove the sensitivity and vulnerability of European countries during the crisis and could help the policy makers to identify effective measures for strengthening the protective capacity of their states in the event of a future economic and social crisis.

Suggested Citation

  • David BECERRA ALONSO & Armenia ANDRONICEANU & Irina GEORGESCU, 2016. "Sensitivity and vulnerability of European countries in time of crisis based on a new approach to data clustering and curvilinear analysis," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2016(27), pages 46-61, Decembre.
    • Handle: RePEc:rom:rampas:v:2016:y:2016:i:27:p:46-61
    as

    Download full text from publisher

    File URL: https://www.ramp.ase.ro/en/_data/files/articole/2016/27-03.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Adam P. Balcerzak, 2016. "Multiple-criteria Evaluation of Quality of Human Capital in the European Union Countries," Working Papers 18/2016, Institute of Economic Research, revised May 2016.
    2. Sorin BURLACU, 2015. "Violence In The Health Sector And Social Organizations In Romania," Proceedings of Administration and Public Management International Conference, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 11(1), pages 69-83, October.
    3. Aizenman, Joshua & Sun, Yi, 2010. "Globalization and the sustainability of large current account imbalances: Size matters," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 35-44, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Beata SLUSARCZYK, 2018. "Tax Incentives As A Main Factor To Attract Foreign Direct Investments In Poland," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2018(30), pages 67-81, June.
    2. Jaroslav BELÁS & Ján DVORSKÝ & Ladislav TYLL & Katarína ZVARÍKOVÁ, 2017. "Entrepreneurship of University Students: Important Factors and the Propensity for Entrepreneurship," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2017(28), pages 6-25, June.
    3. Marina PALKINA & Valentina KISLITSINA, 2018. "Factors Improving Investment Attractiveness Of Russia’S Depressed Regions," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2018(30), pages 141-153, June.
    4. Anna ÈEPELOVÁ & Darina KOREÒOVÁ, 2017. "Presumptions of the Process Management Application in Terms of Self-government in the Slovak Republic," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2017(28), pages 133-152, June.
    5. Volodymyr Govorukha & Olga Kuchkova, 2018. "An Estimation of the Logistics Potential of Enterprises in the Regions Management," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 14(2), pages 79-89.
    6. Mihaela PÃCE?ILÃ, 2017. "Corporate Volunteering: Trends, Benefits And Challenges. Current Situation In Romania," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 12(2), pages 19-29, April.
    7. Shalini UPADHYAY, 2017. "Can Spiritual Intelligence Influence Research Performance in Higher Education? Framework for Human Resource Development in Higher Education," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2017(28), pages 153-173, June.
    8. Rastislav Kazanský & Vladimír Andrassy, 2019. "Conflict resolution approaches towards smart sustainability of internal relations," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(3), pages 1468-1484, March.
    9. Gheorghe H. Popescu & Elvira Nica & Florin Cristian Ciurlău & Mihaela Comănescu & Teodora Bițoiu, 2017. "Stabilizing Valences of an Optimum Monetary Zone in a Resilient Economy—Approaches and Limitations," Sustainability, MDPI, vol. 9(6), pages 1-26, June.
    10. Luboš SMRÈKA & Markéta ARLTOVÁ & Jaroslav SCHÖNFELD, 2017. "Quality of Insolvency Proceedings in Selected Countries – Analysis Focused on Recovery Rates, Costs and Duration," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2017(28), pages 116-132, June.
    11. Serhiy SHKARLET & Maksym DUBYNA & Oksana HRUBLIAK & Artur ZHAVORONOK, 2019. "?Heoretical And Applied Provisions Of The Research Of The State Budget Deficit In The Countries Of Central And Eastern Europe," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2019(32), pages 120-138, June.
    12. Pełka Marcin, 2019. "Assessment of the Development of the European Oecd Countries with the Application of Linear Ordering and Ensemble Clustering of Symbolic Data," Folia Oeconomica Stetinensia, Sciendo, vol. 19(2), pages 117-133, December.
    13. Serhiy SHKARLET & Igor OLIYCHENKO & Maksym DUBYNA & Maryna DITKOVSKA & Vladimir ZHOVTOK, 2020. "Comparative Analysis Of Best Practices In E-Government Implementation And Use Of This Experience By Developing Countries," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2020(34), pages 118-136, June.
    14. Oana Vasile & Armenia Androniceanu, 2018. "An Overview of the Romanian Asylum Policies," Sustainability, MDPI, vol. 10(5), pages 1-22, May.
    15. Maarja Saar & Bozena Sojka & Ann Runfors, 2022. "Welfare Deservingness for Migrants: Does the Welfare State Model Matter?," Social Inclusion, Cogitatio Press, vol. 10(1), pages 239-249.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cécile CARRA & Sorin BURLACU & Daniel FAGGIANELLI, 2016. "Violence within organizations in the health and medico-social sectors, comparative analysis France-Romania," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2016(27), pages 123-142, Decembre.
    2. Joshua Aizenman & Rajeswari Sengupta, 2011. "Global Imbalances: Is Germany the New China? A Skeptical View," Open Economies Review, Springer, vol. 22(3), pages 387-400, July.
    3. Joshua Aizenman, 2015. "Internationalization of the RMB, Capital Market Openness and Financial Reforms in China," Pacific Economic Review, Wiley Blackwell, vol. 20(3), pages 444-460, August.
    4. Ghassan, Hassan B. & Al-Jefri, Essam H., 2015. "الحساب الجاري في المدى البعيد عبر نموذج داخلي الزمن [The Current Account in the Long Run through the Intertemporal Model]," MPRA Paper 66527, University Library of Munich, Germany.
    5. Blaise Gnimassoun & Marc Joëts & Tovonony Razafindrabe, 2016. "On the link between current account and oil price fluctuations in diversified economies: The case of Canada," Working Papers hal-04141574, HAL.
    6. Jean Foure & Angel Aguiar & Ruben Bibas & Jean Chateau & Shinichiro Fujimori & Julien Lefevre & Marian Leimbach & Luis Rey-Los-Santos & Hugo Valin, 2020. "Macroeconomic Drivers of Baseline Scenarios in Dynamic CGE models: Review and Guidelines Proposal," Journal of Global Economic Analysis, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, vol. 5(1), pages 28-62, June.
    7. Mohammed Shuaibu & Popoola Timothy Oladayo, 2016. "Determinants Of Human Capital Development In Africa: A Panel Data Analysis," Oeconomia Copernicana, Institute of Economic Research, vol. 7(4), pages 523-549, December.
    8. Joshua Aizenman & Yothin Jinjarak, 2009. "The Usa As The ‘Demander Of Last Resort’ And The Implications For China'S Current Account," Pacific Economic Review, Wiley Blackwell, vol. 14(3), pages 426-442, August.
    9. Körner, Finn Marten, 2011. "An equilibrium model of 'global imbalances' revisited," Violette Reihe: Schriftenreihe des Promotionsschwerpunkts "Globalisierung und Beschäftigung" 33/2011, University of Hohenheim, Carl von Ossietzky University Oldenburg, Evangelisches Studienwerk.
    10. Issiaka Coulibaly & Blaise Gnimassoun, 2013. "Current account sustainability in Sub-Saharan Africa: Does the exchange rate regime matter?," Working Papers hal-04141160, HAL.
    11. Muhammad Haseeb & Hafezali Iqbal Hussain & Sebastian Kot & Armenia Androniceanu & Kittisak Jermsittiparsert, 2019. "Role of Social and Technological Challenges in Achieving a Sustainable Competitive Advantage and Sustainable Business Performance," Sustainability, MDPI, vol. 11(14), pages 1-23, July.
    12. Antonia Lopez Villavicencio & Valérie Mignon, 2018. "Do global value chains amplify global imbalances?," Working Papers hal-04141687, HAL.
    13. Amba Oyon Claude Marius & Taoufiki Mbratana & Kane Gilles Quentin, 2017. "Assessing the current account sustainability in ECCAS economies: A dual cointegration analysis," Economics Bulletin, AccessEcon, vol. 37(3), pages 1873-1894.
    14. Marian Leimbach & Nico Bauer, 2022. "Capital markets and the costs of climate policies," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 24(3), pages 397-420, July.
    15. Smith, Constance E., 2011. "External balance adjustment: An intra-national and international comparison," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 1195-1213, October.
    16. Shibata, Akihisa & Shintani, Mototsugu & Tsuruga, Takayuki, 2019. "Current account dynamics under information rigidity and imperfect capital mobility," Journal of International Money and Finance, Elsevier, vol. 92(C), pages 153-176.
    17. Christopoulos, Dimitris & León-Ledesma, Miguel A., 2010. "Current account sustainability in the US: What did we really know about it?," Journal of International Money and Finance, Elsevier, vol. 29(3), pages 442-459, April.
    18. Judit Oláh & Zuzana Virglerova & József Popp & Jana Kliestikova & Sándor Kovács, 2019. "The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia," Sustainability, MDPI, vol. 11(17), pages 1-19, September.
    19. Bartłomiej Marona & Annette Van den Beemt-Tjeerdsma, 2018. "Impact of Public Management Approaches on Municipal Real Estate Management in Poland and The Netherlands," Sustainability, MDPI, vol. 10(11), pages 1-15, November.
    20. Duncan, Roberto, 2015. "A threshold model of the US current account," Economic Modelling, Elsevier, vol. 48(C), pages 270-280.

    More about this item

    Keywords

    curvilinear component analysis; dimensionality reduction methods; data clustering; visualization;
    All these keywords.

    JEL classification:

    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:rampas:v:2016:y:2016:i:27:p:46-61. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Androniceanu Armenia (email available below). General contact details of provider: https://edirc.repec.org/data/ccasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.