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hospodářského cyklu pro českou ekonomiku (Methodology of the Composite Indicators Construction of the Czech Republic Business Cycle) . Statistika, 1 :21 Economic Cycle Research Institute ( 2011 ): Turning Points & Leading

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Acta Oeconomica
Authors: Mirjana Gligorić Matić, Biljana Jovanović Gavrilović, and Nenad Stanišić

that go ‘beyond GDP’ have been created to adjust, complement, or replace it, in order to express the complex nature of the modern development. The composite welfare indices that combine a few different measures (where GDP can, but does not have to be

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. Although there are some papers that have proposed the use of a composite index, here we follow the approach pioneered by Han – Goetz (2015) because their indicator captures the two aforementioned dimensions of resilience jointly. 11 This indicator

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Payment systems make a significant contribution to the flow of transactions and financial stability. In this paper, we start by applying the principles of the gravity model to explain the TARGET flows of banking transactions between Portugal and other eurozone countries. The main explanatory variables tested are a composite indicator of economic and financial activities, distance, membership of the Eurozone (EZ), and country risk measured by treasury bond yields. The results indicate that Portugal has a high level of integration in the European banking market as distance is not statistically significant, and that the membership of the EZ facilitates the financing of the economy. The economic size of the partner country becomes non-significant after controlling for country fixed effects. The increase in the Portuguese country risk during the European sovereign debt crisis led to a marked decline in external financing, indicating that this is an important channel of transmission of crises.

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) OECD ( 2008 ): Handbook on Constructing Composite Indicators. Methodology and User Guide . Paris: OECD and Ispra, Italy: Joint Research Centre (JRC) of the European Commission (http://www.oecd.org/sdd/42495745.pdf

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. — Fagan , C. — O’Brien , C. ( 2008 ): Job Quality in Europe . Industrial Relations Journal , 39 ( 6 ): 586 – 603 . Tangian , A. ( 2005 ): A Composite Indicator of

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. ( 2011 ): Composite Competitiveness Indicators with Endogenous versus Predetermined Weights . An Application to the World Economic Forum’s Global Competitiveness Index. Competitiveness Review , 21 ( 2 ): 129 – 151

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extent common effects of correlated indicators ( Becker et al. 2017 ). Despite the good fit and adequacy of the composite indicator, we should bear in mind its weaknesses and different reflections that the indicator can provide on technology advancement

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Acta Oeconomica
Authors: Ivan Vujačić, Jelica Petrović-Vujačić, Svetozar Tanasković, and Marko Miljković

is a composite index, observing the change in the separate dimensions of the index could shed light on which dimension is the main driver of the convergence process between the former Yugoslav states. As shown in Figure 3 , in the observed period the

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individual variables, it showed the largest lag in the technology sector ( Ács – Szerb 2012 ). This pillar falls into the “Entrepreneurial abilities” (ABT) sub-index of the three sub-indices of the composite GEDI index: these include pillars such as the

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