Measurement of the Economic Vulnerability Index in the Third World and Emerging Economies: A Comparative Analysis Using Fuzzy Analytical Network Process and Technique for Order Preference by Similarity to an Ideal Solution

The aim of this study is to rank the third world and emerging economies according to the economic vulnerability index. For this purpose, economic vulnerability data of United Nations for the year of 2015 is taken into the consideration. In the analysis process, 10 least developed economies which have high GDP growth and 10 selected emerging economies are evaluated by using fuzzy ANP and TOPSIS methods. It was concluded that Senegal is the most vulnerable country whereas Uganda has the best position among least developed countries. Furthermore, it was also identified that China is the most vulnerable emerging economy while Turkey has the best situation in this category. While ranking least developed and emerging economies together, it was defined that all least developed economies have the better vulnerability conditions than China, India and Egypt.