In this research, Grey Relational Analysis (GRA) and Cluster Analysis Method were applied to the economic freedom index data of OECD (Economic Cooperation and Development Organization) countries. In the first part of this research, economic freedom index is mentioned. In the next part of the research, GRA method which is one of the Multi Criteria Decision Making (MCDM) methods is explained. In the application part, GRA method was applied to the economic freedom index data of 36 countries which are OECD countries between the years of 2015-2019 by considering 6 indices. Thus, it is aimed to rank the performance of the countries from the best to the worst. The MCDM methods are briefly mentioned and the steps and methods of application areas of GRA applied in the research are explained.
OECD, Economic Freedom, Grey Relational Analysis Method, K-means Method
|Author :||Melike TAŞÇI - Çiğdem ÖZARI|
|Number of pages:||464-488|