Economic Freedom Index Calculation Using FCM

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Alphanumeric Journal
Volume:6, Issue:1, 2018
Economic Freedom Index Calculation Using FCM

Economic Freedom Index Calculation Using FCM

Authors : Necati Alp ERİLLİ

Pages : 93-116

Doi:10.17093/alphanumeric.337322

View : 25 | Download : 14

Publication Date : 2018-06-26

Article Type : Research Paper

Abstract :The Index of Economic Freedom is an annual index and ranking created by The Heritage Foundation and The Wall Street Journal in 1995 to measure the degree of economic freedom in the world`s nations. There are many kinds of Economic Freedom Indices depending on variables which many institute or company determine for their research. The aim is to predict countries or regions according to economic parameters. In this study, fuzzy clustering algorithm is proposed for economic freedom ındex calculation. By using degree of memberships founded by FCM, Economic Freedom index will be calculated for regions. Results compared with indices calculated by The Heritage Foundation for the year 2013, 2014, 2015 and 2016. It is showed that FCM is an alternative method for index calculating systems.
Keywords : Fuzzy Clustering, Economic Freedom, Classification, Freedom Index

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