Post-communist financial and economic development: cluster analysis of selected countries

Abstract

Post-communist financial and economic development:cluster analysis of selected countries AbstractPurpose. The purpose of this paper is to disclose and explain disparities of social and economic development of twenty-eight postcommunist countries based on the World Bank's macroeconomic indicators of the selected countries in 2000-2014. The paper questions whether post-communist countries are homogeneous within certain groupings and essentially different across different groupings.