Use of DEA method in the analysis of sustainable socio- economic development of EU countries
One of the key challenges currently faced by the European Union countries is ensuring sustainable socio-economic development. The article aims to present the results of the study concerning the effectiveness of expenditures incurred by the EU countries on sustainable development and their effects, tak ing into account the average three-year delay between the expenditures and the effects of the implemented policy. Data Envelopment Analysis was employed in the research. As an approximate measure of sustainability, the DEA efficiency indicator was used. This was due to the fact that the indicator was constructed on the basis of the value of expenditures and effects, which were crucial for the assessment and comparison of the degree of sustainable development. The research covered 28 EU countries and was carried out on the basis of data collected by Eurostat for the years 2011—2013 (expenditures) and 2014—2016 (effects). In general it can be stated that all analysed countries were characterized by high values of sustainable development indicators, which proves that the implementation of the EU sustainable development policy is highly effective. However, it is worth noting that the ranking of the countries considered to be the most economically developed is relatively low. In order to explain this fact, further indepth theoretical and empirical analyses are required.