APPLYING THE PRINCIPAL COMPONENT ANALYSIS METHOD TO THE INTEGRATED ASSESSMENT OF THE ECONOMIC DEVELOPMENT LEVEL OF THE PROVINCES IN VIETNAM

Abstract
Based on the application concept of Principal Component Analysis (PCA) to general capacity assessment, and in recognition of some limitations in evaluating local economic development levels according to a single indicator, this article uses PCA method which is based on the data of 11 economic indicators of 63 provinces in Vietnam to conduct reviews, ratings and compare the development level of the local economy. The results show that there is a clear difference in economic development level of the provinces. Most provinces in the Red River Delta and Southeast regions have higher rankings. And the backward provinces are mainly in the Northern midland and mountainous area.
Keywords: Principal Component Analysis, economic development levels, provinces of Vietnam.
JEL classification: C; C38

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Ban biên tập Tạp chí Kinh tế & Quản trị Kinh doanh
Phòng 514, Nhà điều hành, trường Đại học Kinh tế & Quản trị Kinh doanh
Địa chỉ: Phường Tân Thịnh, thành phố Thái Nguyên
Email: tapchikt-qtkd@tueba.edu.vn; Điện thoại: 0208.3903373