Author/Authors :
TÜRE, Hasan Gazi Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - Ekonometri Bölümü, Turkey , KOÇAK, Deniz Gazi Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - Ekonometri Bölümü, Turkey , DOĞAN, Seyyide Gazi Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - Ekonometri Bölümü, Turkey
Abstract :
In order to least affected by economic instability worldwide, investors are required to choose the right market. At this point, individuals, businesses or countries, who will consider investing, are required to evaluate the risk situation of the country considered to invest in the right way. Worldwide, there are many credit rating agencies that undertake this work. However, these rating agencies from time to time, that keep confidential rating criteria and is under political pressure, are the focus of criticism. In this study, countries risk ranking is obtained by using Multimoora that is composed of three approaches: Ratio Approach, Reference Point Approach and Full Multiplicative Approach. Multimoora, is one of multi objective decision making methods being based on dimensionless measures. In the study, 76 countries with 22 macroeconomic indicators from 2012 are assessed holistically and countries risk ranking is obtained. According to obtained ranking objectively, Luxembourg, Singapore and Norway are located in top three and Turkey, ranks number 56 namely is fallen behind. The reason for this is low notes received from political risk variable although Turkey’s economic indicator is successful. Under the assumption that notes is not political, improving scores on the variables such as Political Stability and Absence of Violence/Terrorism and the Voice and Accountability will take place Turkey in a higher order.
NaturalLanguageKeyword :
Multimoora , Moora , Country risk , Ordinal Dominance Theory
