Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/33542
Authors: 
Heshmati, Almas
Oh, Jong-Eun
Year of Publication: 
2005
Series/Report no.: 
IZA Discussion Papers 1734
Abstract: 
This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment, innovation research, economic reform, social cohesion and environment, each generated from a number of Lisbon indicators. LSI by reducing the complexity of the set of indicators, it makes the ranking procedures quite simple. The second and parametric index is based on principal component analysis. Despite the difference in the ranking by the two indices, it is shown that the United States outperformed most EU-member states. Our investigations also show evidence of significant dynamic changes taking place, as the countries of the Union struggle to achieve the Lisbon goals. The necessity of a real reform agenda in several old and new members and candidate countries emerges from our analysis.
Subjects: 
economic development
economic integration
composite index
Lisbon Agenda
JEL: 
O10
C43
F15
O57
Document Type: 
Working Paper

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