THE EVALUATION OF COMPETITIVENESS PERFORMANCE FOR DEVELOPING EIGHT COUNTRIES BY GREY TOPSIS

Abstract

The World EconomicForum has developed the Global Competitiveness Index to measure the countries'competitiveness and rank the countries according to their level of competition.This index is calculated separately for each country starting from 2007considering the 12 indicators. In this study, a new ranking has been obtainedfor 8 countries (D-8) developed with TOPSIS-G method by using the annual GlobalCompetitiveness Index data published by the World Economic Forum over theperiod of 2007 to 2017. The relationship between the ranking of TOPSIS-G and observedranking was investigated by Spearman-Rank correlation coefficient and KendallTau nonparametric correlation coefficients. As a result, it was determined thatthe ranking found with TOPSIS-G method was strongly related to the annualpublished rankings. In addition, the new ranking is less affected by competingrankings over the years. While the country with the highest level ofcompetitiveness with Topsis-G method is Malaysia, Turkey is third. Pakistan isthe lowest competitiveness country.