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A Composite Indicator of Social Inclusion for EU based on the Inverted BoD Model

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  • Giannis Karagiannis

    (Department of Economics, University of Macedonia)

  • Panagiotis Ravanos

    (Department of Economics, University of Macedonia)

Abstract

In this paper, after reviewing the existing modeling approaches for reverse indicators, we opt for the use of the inverted Benefit-of-the-doubt (IBoD) model when all the considered indicators are reverse, as is the case with composite indicators related to social inclusion. Using EU data for 2014 we provide comparative empirical results using the IBoD model and three data transformations employed by previous studies. We also provide a thorough analysis of the performance of EU countries during the period 2011-2020 in terms of the composite indicator obtained from the IBoD model. Our empirical results indicate that the relative performance across EU has neither improved nor deteriorated and there is evidence supporting local instead of global convergence in social inclusion with certain groups of countries.

Suggested Citation

  • Giannis Karagiannis & Panagiotis Ravanos, 2023. "A Composite Indicator of Social Inclusion for EU based on the Inverted BoD Model," Discussion Paper Series 2023_02, Department of Economics, University of Macedonia, revised Feb 2023.
    • Handle: RePEc:mcd:mcddps:2023_02
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