Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific
Economic freedom can be defined as freedom in which individuals can perform their economic activities freely without being exposed to the pressures and constraints. The aim of the studies on the classification of countries according to their economic freedoms is to determine the place of the countri...
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| Format: | Article |
| Language: | English |
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Master Program in Economics, Graduate Program of Universitas Jambi
2019-11-01
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| Series: | Jurnal Perspektif Pembiayaan dan Pembangunan Daerah |
| Online Access: | https://online-journal.unja.ac.id/JES/article/view/7872 |
| _version_ | 1811228646471368704 |
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| author | Necati Alp ERILLI |
| author_facet | Necati Alp ERILLI |
| author_sort | Necati Alp ERILLI |
| collection | DOAJ |
| description | Economic freedom can be defined as freedom in which individuals can perform their economic activities freely without being exposed to the pressures and constraints. The aim of the studies on the classification of countries according to their economic freedoms is to determine the place of the countries in the world or in the continent where they are located. In this way, the status of the countries with sustainable growth and high welfare is determined. In this study, it is aimed to rank Asian countries according to economic freedom data. In contrast to many classifications and sorting studies, the present study attempts to determine the best sorting method by comparing multiple methods. As a result of the economic freedoms published by the Heritage Foundation every year, the conditions of Asian countries between 2015-2019 were determined. Fuzzy C-Means, Gath-Geva and Gustafson-Kessel methods, which are the three most commonly used methods, were used in the fuzzy clustering analysis. The results obtained from all fuzzy clustering methods were compared and interpreted with the results of the Heritage Foundation year by year. According to all analysis results, it can be said that the Fuzzy C-means method is more successful for Economic Freedom data and classification studies. According to the Fuzzy C-Means method, the three best Asian countries were Hong Kong, New Zealand and Australia respectively |
| first_indexed | 2024-04-12T10:01:31Z |
| format | Article |
| id | doaj.art-ffcfaf6e8836458ea4459be79a12cccf |
| institution | Directory Open Access Journal |
| issn | 2338-4603 2355-8520 |
| language | English |
| last_indexed | 2024-04-12T10:01:31Z |
| publishDate | 2019-11-01 |
| publisher | Master Program in Economics, Graduate Program of Universitas Jambi |
| record_format | Article |
| series | Jurnal Perspektif Pembiayaan dan Pembangunan Daerah |
| spelling | doaj.art-ffcfaf6e8836458ea4459be79a12cccf2022-12-22T03:37:34ZengMaster Program in Economics, Graduate Program of Universitas JambiJurnal Perspektif Pembiayaan dan Pembangunan Daerah2338-46032355-85202019-11-017210.22437/ppd.v7i2.78727872Comparison of fuzzy clustering methods in economic freedom ranking in Asia-PacificNecati Alp ERILLI0Department of Econometrics, Sivas Cumhuriyet University, Sivas, TurkeyEconomic freedom can be defined as freedom in which individuals can perform their economic activities freely without being exposed to the pressures and constraints. The aim of the studies on the classification of countries according to their economic freedoms is to determine the place of the countries in the world or in the continent where they are located. In this way, the status of the countries with sustainable growth and high welfare is determined. In this study, it is aimed to rank Asian countries according to economic freedom data. In contrast to many classifications and sorting studies, the present study attempts to determine the best sorting method by comparing multiple methods. As a result of the economic freedoms published by the Heritage Foundation every year, the conditions of Asian countries between 2015-2019 were determined. Fuzzy C-Means, Gath-Geva and Gustafson-Kessel methods, which are the three most commonly used methods, were used in the fuzzy clustering analysis. The results obtained from all fuzzy clustering methods were compared and interpreted with the results of the Heritage Foundation year by year. According to all analysis results, it can be said that the Fuzzy C-means method is more successful for Economic Freedom data and classification studies. According to the Fuzzy C-Means method, the three best Asian countries were Hong Kong, New Zealand and Australia respectivelyhttps://online-journal.unja.ac.id/JES/article/view/7872 |
| spellingShingle | Necati Alp ERILLI Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific Jurnal Perspektif Pembiayaan dan Pembangunan Daerah |
| title | Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific |
| title_full | Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific |
| title_fullStr | Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific |
| title_full_unstemmed | Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific |
| title_short | Comparison of fuzzy clustering methods in economic freedom ranking in Asia-Pacific |
| title_sort | comparison of fuzzy clustering methods in economic freedom ranking in asia pacific |
| url | https://online-journal.unja.ac.id/JES/article/view/7872 |
| work_keys_str_mv | AT necatialperilli comparisonoffuzzyclusteringmethodsineconomicfreedomrankinginasiapacific |