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Commonwealth of Independent States Economic Development: Multidimensional Comparison of States

Abstract After the disintegration of the Soviet Union several new states were founded, and majority of them created the Commonwealth of Independent States (CIS) while three Baltic states decided about independent path of development so now they are member states of EU. The aim of the paper is to evaluate the level of economic development of 10 countries, that previously were Soviet Union republic. The evaluation procedure is provided applying taxonomic indicators constructed on the basis of 12 variables observed for each country in years 1995-2009. Aggregated measure values are used to classify the investigated states into four classes containing countries with similar level of economic development.