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Using Fuzzy Logic for Evaluating the Level of Countries’ (Regions’) Economic Development

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  • Gordan Stojić

    ()
    (Technical Sciences, University of Novi Sad, Serbia)

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    Abstract

    There are several divisions of countries and regions in the world. Besides geo-political divisions, there also are economic divisions. The most common economic division is the that on developed countries and the poor ones. These divisions are a consequence of the level of: GDP, GDP per capita, unemployment rate, industrial growth, and so on. The question is how to define a mathematical model based on which the following will be assessed: who is rich and who is poor, or who is economically developed and who is not? How the boundaries of transition from one category to another can be defined? This paper presents a model for evaluating the level of economic development of countries and regions using "fuzzy" logic. The model was tested on a sample of 19 EU member countries and aspirants for membership.

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    File URL: http://www.panoeconomicus.rs/casopis/2012_3/03%20Gordan%20Stojic.pdf
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    Bibliographic Info

    Article provided by Savez ekonomista Vojvodine, Novi Sad, Serbia in its journal Panoeconomicus.

    Volume (Year): 59 (2012)
    Issue (Month): 3 (June)
    Pages: 293-310

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    Handle: RePEc:voj:journl:v:59:y:2012:i:3:p:293-310

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    Web page: http://www.panoeconomicus.rs/

    Related research

    Keywords: Model; Evaluation; Economy development; Fuzzy sets.;

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    1. Balistreri, Edward J. & Rutherford, Thomas F. & Tarr, David G., 2009. "Modeling services liberalization: The case of Kenya," Economic Modelling, Elsevier, vol. 26(3), pages 668-679, May.
    2. Nathalie Homlong & Elisabeth Springler, 2010. "Economic Development and Foreign Direct Investment: How to Create Sustainable Development An Analysis of the Potential for Sustainable Development on the Indian Subcontinent," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(3), pages 333-347, September.
    3. Kim, Dong-Hyeon & Lin, Shu-Chin & Suen, Yu-Bo, 2010. "Dynamic effects of trade openness on financial development," Economic Modelling, Elsevier, vol. 27(1), pages 254-261, January.
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