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Evaluation of Climate of Selected Sixty-six Countries using Grey Relational Analysis: Focus on Pakistan
Author(s) -
Abdul Aziz Khan Niazi,
Tehmina Fiaz Qazi,
Abdul Basit,
Muhammad Zeeshan Shaukat
Publication year - 2021
Publication title -
journal of business and social review in emerging economies
Language(s) - English
Resource type - Journals
eISSN - 2519-089X
pISSN - 2519-0326
DOI - 10.26710/jbsee.v7i1.1533
Subject(s) - grey relational analysis , position (finance) , climate change , european union , political science , politics , geography , development economics , regional science , economic growth , economics , international trade , finance , ecology , mathematical economics , law , biology
Aim of the study is to evaluate climate selected sixty-six countries of the world. Since climate plays a vital role in economic growth of any country and there is dearth of climate models comparing country-wise position to predict as how climate of country is relatively better than others and how it may change in the future and how will it affect on businesses. Overall design of the study consists of review of literature, data elicitation & analysis. It follows quantitative research philosophy based on secondary data obtained from World Development Indicators (WDI). Grey relational analysis is used method of analysis. A classification is made under a predetermined scheme of ensigns like: much better, better, somewhat better, fair, poor, somewhat worse and worse. Results of the study show that Arabian Countries (AC), mostly member countries of European Union (EE), Organization for Economic Cooperation and Development (OECD) and Union of South American Nations (UNASUR) have much better and conducive climate, whereas, South Asian Association for Regional Cooperation (SAARC) countries have worse and unfavorable climate for business. It is an original and valuable study that uses country level data from a reliable source. Results of the study are useful for international business community, political governments, society at large and researchers.

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