Theoretical and Applied Economics
No. 2 / 2020 (623), Summer
An approach to the index of economic freedom using the data mining technique in the economic environment context
Bucharest University of Economic Studies, Romania
Abstract. Economics, at the macroeconomic level, can be viewed as a complex dynamic system consisting of a multitude of subsystems linked together by direct and indirect connections of different types. This dynamic system forms an economic cybernetic network composed from these subsystems, which evolves according to the economic environment and its own objectives, which are conditioned by the achievement of a general common objective. One of the most important indices that could characterize the economic environment for all countries is the Economic Freedom Index and it is very important to be taken into account by companies that want to be active in international market. In this article we analyzed the Index of Economic Freedom, divided into four subcategories: the rule of law, the size of the government, the efficiency of the regulations and the opening of the market. The analysis was performed on a set of data extracted for the year 2019 corresponding to 174 countries. Also, with the R software solution, I will apply multidimensional data analysis techniques to perform the proposed research.
Keywords: economic freedom, R, data mining, cybernetics approach, dynamic system, classification.
Contents
- Mathematical model used
in substantiating optimal contract
Constantin ANGHELACHE
Dumitru MARIN
Dana Luiza GRIGORESCU
- Migration, economic causes and decisions
Mircea Constantin ȘCHEAU
Ștefan Zaharie POP
Andreea Valentina ȘOIMU
- The voluntary pension funds – a viable solution to supplement
the pensioners' incomes
Mădălina-Gabriela ANGHEL
Dragoș Alexandru HAȘEGAN
- An approach to measuring credit risk
in a banking institution from Romania
Nora CHIRIȚĂ
Ionuț NICA
- Study on the evolution of tourism and perspectives
Ștefan Virgil IACOB
- Investigating personnel dynamics within SMEs:
A survey analysis for the case of Romania
Mădălina Ecaterina POPESCU
Larisa STĂNILĂ
Maria Denisa VASILESCU
- Banking sector and bank liquidity –
key actors within financial crises?
Dan Costin NIŢESCU
Florin Alexandru DUNĂ
Adriana Daniela CIUREL
- Existence of rewards for a sustainable enterprise
in the context of the human resources strategy
Constantin Ciprian IACOB
Nicolae MOROIANU
- Do export, financial development, and institutions
affect FDI outflows?
Insights from Asian developing countries
Pragyanrani BEHERA
Prajukta TRIPATHY
Bikash Ranjan MISHRA
- Are resources a curse or blessings?
Evidence from panel ARDL model
Shakti Mohan TANDI
Prajna Paramita MISHRA
- Tax structure and economic growth
in general category states in India:
A panel auto regressive distributed lag approach
Dillip Kumar MUDULI
Nityasundar MANIK
- Banking Sector Reforms and the Goals
of Nationalised Commercial Banks in India
Kubendran NARAYANASAMY
- Determinants of economic growth in India:
A time series perspective
Manoj Kumar DAS
Titiksha DAS
- Impact of credit guarantee on the output gap:
A panel data analysis of Asian sovereigns
Mohammad MUSTAFA
- Analyzing the robustness of ARIMA and neural networks
as a predictive model of crude oil prices
Sudhi SHARMA
Miklesh YADAV
- Does the agriculture value-added contribute
to the economic growth in 30 African countries?
Salah Eddine SARI HASSOUN
Abdelkader SAHED
Khayereddine Salim ADDA
Asma Hadjira SEBBANE