Skip to main content
SpringerLink
Log in

Determining the Ways to Increase Economic Growth of Developing and Developed Economies: An Application with Data Mining and Fuzzy TOPSIS

  • Chapter
  • First Online:
Data Science and Multiple Criteria Decision Making Approaches in Finance

Part of the book series: Multiple Criteria Decision Making ((MCDM))

Abstract

This study aims to identify the influencing factors of economic growth for both developing and developed economies. Firstly, literature is reviewed, and 7 different variables are selected as leading indicators of the economic growth. In this framework, 155 developing and 31 developed economies are evaluated. After that, decision tree approach is taken into consideration and the most significant 4 variables are determined for each country group. In the final process, fuzzy TOPSIS approach is used to weigh E7 and G7 economies with respect to the economic development. The findings indicate that for developing economies, the most important determinants are foreign direct investment, interest rate, domestic credit, and research and development. On the other side, inflation, domestic credit, foreign direct investment, and unemployment play a more significant role in the economic growth of developed economies. Hence, it is recommended that developing economies should mainly focus on the strategies to attract the attention of the foreign investors and to increase research and development.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
eBook
USD 16.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 16.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 99.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Abdouli, M., & Hammami, S. (2017). Economic growth, FDI inflows and their impact on the environment: An empirical study for the MENA countries. Quality & Quantity, 51(1), 121–146.

    Article  Google Scholar 

  • Ahmad, M. I., Guohui, W., Hasan, M., Ali, R., & Rafiq, M. Y. (2016). Non-performing loans and economic growth. Scholars Journal of Economics, Business and Management, 3(10), 584–586.

    Google Scholar 

  • Ajayi, S. A., Oladipo, O. A., Ajayi, L. B., & Nwanji, T. I. (2017). Interest rate and economic growth: The case of Nigeria. International Review of Business Research Papers, 13(1), 141–150.

    Article  Google Scholar 

  • Akkoç, S., & Vatansever, K. (2013). Fuzzy performance evaluation with AHP and Topsis methods: Evidence from Turkish banking sector after the global financial crisis. Eurasian Journal of Business and Economics, 6(11), 53–74.

    Google Scholar 

  • Aloui, C., Hkiri, B., Hammoudeh, S., & Shahbaz, M. (2018). A multiple and partial wavelet analysis of the oil price, inflation, exchange rate, and economic growth nexus in Saudi Arabia. Emerging Markets Finance and Trade, 54(4), 935–956.

    Article  Google Scholar 

  • Ayopo, B. A., Isola, L. A., & Olukayode, S. R. (2016). Stock market response to economic growth and interest rate volatility: Evidence from Nigeria. International Journal of Economics and Financial Issues, 6(1), 354–360.

    Google Scholar 

  • Baharumshah, A. Z., Slesman, L., & Wohar, M. E. (2016). Inflation, inflation uncertainty, and economic growth in emerging and developing countries: Panel data evidence. Economic Systems, 40(4), 638–657.

    Article  Google Scholar 

  • Bai, C., Dhavale, D., & Sarkis, J. (2014). Integrating fuzzy C-means and TOPSIS for performance evaluation: An application and comparative analysis. Expert Systems with Applications, 41(9), 4186–4196.

    Article  Google Scholar 

  • Behera, J., & Mishra, A. K. (2017). The recent inflation crisis and long-run economic growth in India: An empirical survey of threshold level of inflation. South Asian Journal of Macroeconomics and Public Finance, 6(1), 105–132.

    Article  Google Scholar 

  • Bittencourt, M., Van Eyden, R., & Seleteng, M. (2015). Inflation and economic growth: Evidence from the Southern African Development Community. South African Journal of Economics, 83(3), 411–424.

    Article  Google Scholar 

  • Boran, F. E., Boran, K., & Menlik, T. (2012). The evaluation of renewable energy technologies for electricity generation in Turkey using intuitionistic fuzzy TOPSIS. Energy Sources, Part B: Economics, Planning, and Policy, 7(1), 81–90.

    Article  Google Scholar 

  • Bozkurt, C. (2015). R&D expenditures and economic growth relationship in Turkey. International Journal of Economics and Financial Issues, 5(1), 188–198.

    Google Scholar 

  • Budiharto, A., Suyanto, M., & Aluisius, H. P. (2017, October). The relationship between economic growth, FDI, trade, labor, and capital formation in Indonesia. In Mulawarman International Conference on Economics and Business (MICEB 2017). Atlantis Press.

    Google Scholar 

  • Bulgurcu, B. K. (2012). Application of TOPSIS technique for financial performance evaluation of technology firms in Istanbul stock exchange market. Procedia-Social and Behavioral Sciences, 62, 1033–1040.

    Article  Google Scholar 

  • Cavallaro, F. (2010). Fuzzy TOPSIS approach for assessing thermal-energy storage in concentrated solar power (CSP) systems. Applied Energy, 87(2), 496–503.

    Article  Google Scholar 

  • Çelen, A. (2014). Comparative analysis of normalization procedures in TOPSIS method: With an application to Turkish deposit banking market. Informatica, 25(2), 185–208.

    Article  Google Scholar 

  • Černohorská, L., & Kula, V. (2017). The effect of M3 monetary aggregates and bank loans on the economic growth of countries in the Eurozone, the USA and Japan. Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 40/2017.

    Google Scholar 

  • Chamodrakas, I., & Martakos, D. (2012). A utility-based fuzzy TOPSIS method for energy efficient network selection in heterogeneous wireless networks. Applied Soft Computing, 12(7), 1929–1938.

    Article  Google Scholar 

  • Chand, K., Tiwari, R., & Phuyal, M. (2017). Economic growth and unemployment rate: An empirical study of Indian economy. PRAGATI: Journal of Indian Economy, 4(2), 130–137.

    Google Scholar 

  • Choi, C., & Yi, M. H. (2018). The internet, R&D expenditure and economic growth. Applied Economics Letters, 25(4), 264–267.

    Article  Google Scholar 

  • Chu, A. C., Cozzi, G., Furukawa, Y., & Liao, C. H. (2017). Inflation and economic growth in a Schumpeterian model with endogenous entry of heterogeneous firms. European Economic Review, 98, 392–409.

    Article  Google Scholar 

  • Dinç, D. T., Gökmen, A., & Üstündağ, K. (2019). Economic growth-inflation nexus and its impact on the development of the automotive industry: The case of Turkey. International Journal of Economics and Business Research, 18(1), 94–111.

    Article  Google Scholar 

  • Dinçer, H. (2019). HHI-based evaluation of the European banking sector using an integrated fuzzy approach. Kybernetes.

    Google Scholar 

  • Dinçer, H., & Hacıoğlu, Ü. (2014). A comparative hybrid method in technical analysis for stock selection process in banking sector by fuzzy AHP-TOPSIS and VIKOR method. In Global strategies in banking and finance (pp. 187–204). IGI Global.

    Google Scholar 

  • Dinçer, H., & Hacıoğlu, U. (2015). A comparative performance evaluation on bipolar risks in emerging capital markets using fuzzy AHP-TOPSIS and VIKOR approaches. Engineering Economics, 26(2), 118–129.

    Article  Google Scholar 

  • Dinçer, H., & Yüksel, S. (2018). Financial sector-based analysis of the G20 economies using the integrated decision-making approach with DEMATEL and TOPSIS. In Emerging trends in banking and finance (pp. 210–223). Springer.

    Google Scholar 

  • Dinçer, H., & Yüksel, S. (2019a). Balanced scorecard-based analysis of investment decisions for the renewable energy alternatives: A comparative analysis based on the hybrid fuzzy decision-making approach. Energy, 175, 1259–1270.

    Article  Google Scholar 

  • Dinçer, H., & Yüksel, S. (2019b). An integrated stochastic fuzzy MCDM approach to the balanced scorecard-based service evaluation. Mathematics and Computers in Simulation, 166, 93–112. https://doi.org/10.1016/j.matcom.2019.04.008.

    Article  Google Scholar 

  • Dinçer, H., & Yüksel, S. (2019c). IT2-based fuzzy hybrid decision making approach to soft computing. IEEE Access, 7, 15932–15944.

    Article  Google Scholar 

  • Dinçer, H., Hacıoğlu, U., Tatoglu, E., & Delen, D. (2016). A fuzzy-hybrid analytic model to assess investors’ perceptions for industry selection. Decision Support Systems, 86, 24–34.

    Article  Google Scholar 

  • Dinçer, H., Hacıoğlu, Ü., & Yüksel, S. (2017). A strategic approach to global financial crisis in banking sector: A critical appraisal of banking strategies using fuzzy ANP and fuzzy Topsis methods. International Journal of Sustainable Economies Management (IJSEM), 6(1), 1–21.

    Article  Google Scholar 

  • Dinçer, H., Yüksel, S., & Adalı, Z. (2018a). Relationship between non-performing loans, industry, and economic growth of the African economies and policy recommendations for global growth. In Globalization and trade integration in developing countries (pp. 203–228). IGI Global.

    Google Scholar 

  • Dinçer, H., Yüksel, S., & Şenel, S. (2018b). Analyzing the global risks for the financial crisis after the great depression using comparative hybrid hesitant fuzzy decision-making models: Policy recommendations for sustainable economic growth. Sustainability, 10(9), 3126.

    Google Scholar 

  • Dinçer, H., Yüksel, S., & Martinez, L. (2019a). Balanced scorecard-based analysis about European energy investment policies: A hybrid hesitant fuzzy decision-making approach with quality function deployment. Expert Systems with Applications, 115, 152–171.

    Article  Google Scholar 

  • Dinçer, H., Yüksel, S., & Martínez, L. (2019b). Interval type 2-based hybrid fuzzy evaluation of financial services in E7 economies with DEMATEL-ANP and MOORA methods. Applied Soft Computing, 79, 186–202.

    Article  Google Scholar 

  • Dinçer, H., Yüksel, S., & Çetiner, İ. T. (2019c). Strategy selection for organizational performance of Turkish banking sector with the integrated multi-dimensional decision-making approach. In Handbook of research on contemporary approaches in management and organizational strategy (pp. 273–291). IGI Global.

    Google Scholar 

  • Dinçer, H., Yüksel, S., Korsakienė, R., Raišienė, A. G., & Bilan, Y. (2019d). IT2 hybrid decision-making approach to performance measurement of internationalized firms in the Baltic states. Sustainability, 11(1), 296.

    Article  Google Scholar 

  • Dinçer, H., Yüksel, S., Kartal, M. T., & Alpman, G. (2019e). Corporate governance-based evaluation of alternative distribution channels in the Turkish banking sector using quality function deployment with an integrated fuzzy MCDM method. In Intergenerational governance and leadership in the corporate world: Emerging research and opportunities (pp. 39–77). IGI Global.

    Google Scholar 

  • Duarte, L. D. R. V., Kedong, Y., & Xuemei, L. (2017). The relationship between FDI, economic growth and financial development in Cabo Verde. International Journal of Economics and Finance, 9(5), 132–142.

    Article  Google Scholar 

  • Edquist, H., & Henrekson, M. (2017). Swedish lessons: How important are ICT and R&D to economic growth? Structural Change and Economic Dynamics, 42, 1–12.

    Article  Google Scholar 

  • Gökmenoğlu, K., & Taspinar, N. (2016). The relationship between CO2 emissions, energy consumption, economic growth and FDI: The case of Turkey. The Journal of International Trade & Economic Development, 25(5), 706–723.

    Article  Google Scholar 

  • Gumus, E., & Celikay, F. (2015). R&D expenditure and economic growth: New empirical evidence. Margin: The Journal of Applied Economic Research, 9(3), 205–217.

    Article  Google Scholar 

  • Gunby, P., Jin, Y., & Reed, W. R. (2017). Did FDI really cause Chinese economic growth? A meta-analysis. World Development, 90, 242–255.

    Article  Google Scholar 

  • Hakimi, A., & Hamdi, H. (2016). Trade liberalization, FDI inflows, environmental quality and economic growth: A comparative analysis between Tunisia and Morocco. Renewable and Sustainable Energy Reviews, 58, 1445–1456.

    Article  Google Scholar 

  • Hanişoğlu, G. S., & Azer, Ö. A. (2017). The impact of housing loans on economic growth in Turkey: Times series analysis for 2010–2015 period. EMAJ: Emerging Markets Journal, 7(1), 25–30.

    Article  Google Scholar 

  • Hemmati, M., Dalghandi, S., & Nazari, H. (2013). Measuring relative performance of banking industry using a DEA and TOPSIS. Management Science Letters, 3(2), 499–504.

    Article  Google Scholar 

  • Higgins, P., Zha, T., & Zhong, W. (2016). Forecasting China’s economic growth and inflation. China Economic Review, 41, 46–61.

    Article  Google Scholar 

  • Hong, J. P. (2017). Causal relationship between ICT R&D investment and economic growth in Korea. Technological Forecasting and Social Change, 116, 70–75.

    Article  Google Scholar 

  • Hosseini, M. H., & Keshavarz, E. (2017). Using fuzzy AHP and fuzzy TOPSIS for strategic analysis measurement of service quality in banking industry. International Journal of Applied Management Science, 9(1), 55–80.

    Article  Google Scholar 

  • Inekwe, J. N. (2015). The contribution of R&D expenditure to economic growth in developing economies. Social Indicators Research, 124(3), 727–745.

    Article  Google Scholar 

  • Ionescu, E., & Negurita, O. (2017). The evolution of refinancing loans sector within the economic growth. In International conference on economic sciences and business administration (Vol. 4, no. 1, pp. 212–219). Spiru Haret University.

    Google Scholar 

  • Islamoglu, M., Apan, M., & Oztel, A. (2015). An evaluation of the financial performance of REITs in Borsa Istanbul: A case study using the entropy-based TOPSIS method. International Journal of Financial Research, 6(2), 124–138.

    Article  Google Scholar 

  • Jelilov, G., Waziri, F., & Isik, A. (2016). Interest rate behaviour and its relationship with economic growth in Nigeria: An error correction model approach. The Empirical Economics Letters, 15(3), 245–255.

    Google Scholar 

  • Kahouli, B. (2018). The causality link between energy electricity consumption, CO2 emissions, R&D stocks and economic growth in Mediterranean countries (MCs). Energy, 145, 388–399.

    Article  Google Scholar 

  • Kaya, T., & Kahraman, C. (2011). Multicriteria decision making in energy planning using a modified fuzzy TOPSIS methodology. Expert Systems with Applications, 38(6), 6577–6585.

    Article  Google Scholar 

  • Kazan, H., & Ozdemir, O. (2014). Financial performance assessment of large scale conglomerates via TOPSIS and CRITIC methods. International Journal of Management and Sustainability, 3(4), 203.

    Article  Google Scholar 

  • Khan, M., & Hanif, W. (2018). Institutional quality and the relationship between inflation and economic growth. Empirical Economics, 2(10), 1–23.

    Google Scholar 

  • Loganathan, N., Ismail, S., Streimikiene, D., Hassan, A. A. G., Zavadskas, E. K., & Mardani, A. (2017). Tax reform, inflation, financial development and economic growth in Malaysia. Romanian Journal of Economic Forecasting, 20(4), 152–165.

    Google Scholar 

  • Low, Y. W., & Chan, T. H. (2017). Foreign exchange rate, interest rate, inflation rate and economic growth in Malaysia. Global Business and Management Research, 9(4s), 110–127.

    Google Scholar 

  • Lu, X., Guo, K., Dong, Z., & Wang, X. (2017). Financial development and relationship evolvement among money supply, economic growth and inflation: A comparative study from the US and China. Applied Economics, 49(10), 1032–1045.

    Article  Google Scholar 

  • Makinde, H. O. (2016). Implications of commercial bank loans on economic growth in Nigeria (1986–2014). Journal of Emerging Trends in Economics and Management Sciences, 7(3), 124–136.

    Google Scholar 

  • Mohseni, M., & Jouzaryan, F. (2016). Examining the effects of inflation and unemployment on economic growth in Iran (1996–2012). Procedia Economics and Finance, 36, 381–389.

    Article  Google Scholar 

  • Morakinyo, A., & Sibanda, M. (2016). Non-performing loans and economic growth in Nigeria: A dynamic analysis. SPOUDAI-Journal of Economics and Business, 66(4), 61–81.

    Google Scholar 

  • Mucuk, M., Edirneligil, A., & Gerçeker, M. (2017). The relationship between unemployment rate and economic growth: The case of Turkey. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 5(1), 1–8.

    Google Scholar 

  • Nwaogu, U. G., & Ryan, M. J. (2015). FDI, foreign aid, remittance and economic growth in developing countries. Review of Development Economics, 19(1), 100–115.

    Article  Google Scholar 

  • Ogawa, K., Sterken, E., & Tokutsu, I. (2016). Public debt, economic growth and the real interest rate: A panel VAR approach to EU and OECD countries. Economic Growth and the Real Interest Rate: A Panel VAR Approach to EU and OECD Countries (January 29, 2016).

    Google Scholar 

  • Pal, M. N., & Choudhury, K. (2009). Exploring the dimensionality of service quality: An application of topsis in the Indian banking industry. Asia-Pacific Journal of Operational Research, 26(01), 115–133.

    Article  Google Scholar 

  • Pegkas, P. (2015). The impact of FDI on economic growth in Eurozone countries. The Journal of Economic Asymmetries, 12(2), 124–132.

    Article  Google Scholar 

  • Pourmonazah, A. (2015). An investigation into the influence of Bank loans granted to agriculture sector on Iranian economic growth. Mediterranean Journal of Social Sciences, 6(6 S2), 722.

    Google Scholar 

  • Pradhan, R. P., Arvin, M. B., & Bahmani, S. (2015). Causal nexus between economic growth, inflation, and stock market development: The case of OECD countries. Global Finance Journal, 27, 98–111.

    Article  Google Scholar 

  • Pradhan, R. P., Nishigaki, Y., & Hall, J. H. (2017). The multivariate dynamic causal relations between financial depth, inflation, and economic growth. Philippine Review of Economics, 54(1), 63–93.

    Google Scholar 

  • Prettner, K., & Trimborn, T. (2017). Demographic change and R&D-based economic growth. Economica, 84(336), 667–681.

    Article  Google Scholar 

  • Sadiku, M., Ibraimi, A., & Sadiku, L. (2015). Econometric estimation of the relationship between unemployment rate and economic growth of FYR of Macedonia. Procedia Economics and Finance, 19, 69–81.

    Article  Google Scholar 

  • Seçme, N. Y., Bayrakdaroğlu, A., & Kahraman, C. (2009). Fuzzy performance evaluation in Turkish banking sector using analytic hierarchy process and TOPSIS. Expert Systems with Applications, 36(9), 11699–11709.

    Article  Google Scholar 

  • Şengül, Ü., Eren, M., Shiraz, S. E., Gezder, V., & Şengül, A. B. (2015). Fuzzy TOPSIS method for ranking renewable energy supply systems in Turkey. Renewable Energy, 75, 617–625.

    Article  Google Scholar 

  • Shahzad, S. J. H., Zakaria, M., Rehman, M. U., Ahmed, T., & Fida, B. A. (2016). Relationship between FDI, terrorism and economic growth in Pakistan: Pre and post 9/11 analysis. Social Indicators Research, 127(1), 179–194.

    Article  Google Scholar 

  • Siddique, H. M. A., Ansar, R., Naeem, M. M., & Yaqoob, S. (2017). Impact of FDI on economic growth: Evidence from Pakistan. Bulletin of Business and Economics, 6(3), 111–116.

    Google Scholar 

  • Sinha, N., & Tseladikae, K. (2018). Economic growth and unemployment rate for the economy of Botswana: An empirical study. FOCUS: Journal of International Business, 5(2), 1–25.

    Google Scholar 

  • Sokolov-Mladenović, S., Cvetanović, S., & Mladenović, I. (2016). R&D expenditure and economic growth: EU28 evidence for the period 2002–2012. Economic Research-Ekonomska istraživanja, 29(1), 1005–1020.

    Article  Google Scholar 

  • Song, X., Zhou, Y., & Jia, W. (2019). How do economic openness and R&D investment affect green economic growth?—Evidence from China. Resources, Conservation and Recycling, 146, 405–415.

    Article  Google Scholar 

  • Tan, B. W., & Tang, C. F. (2016). Examining the causal linkages among domestic investment, FDI, trade, interest rate and economic growth in ASEAN-5 countries. International Journal of Economics and Financial Issues, 6(1), 214–220.

    Google Scholar 

  • Tang, Z., & Dinçer, H. (2019). Selecting the house-of-quality-based energy investment policies for the sustainable emerging economies. Sustainability, 11(13), 3514.

    Article  Google Scholar 

  • Tegep, J., Suratman, E., & Indra, S. (2019). The failure of foreign direct investment to explain unemployment rate and the mediating role of economic growth and minimum wage. International Journal of Economics and Financial Issues, 9(2), 154.

    Google Scholar 

  • Wang, Y. J. (2014). The evaluation of financial performance for Taiwan container shipping companies by fuzzy TOPSIS. Applied Soft Computing, 22, 28–35.

    Article  Google Scholar 

  • Wang, S., & Zeng, N. (2016). Micro and small enterprises, bank loans and economic growth: A coalition strategy. Journal of Applied Finance & Banking, 6(2), 93–101.

    Google Scholar 

  • Yüksel, S., Dinçer, H., & Meral, Y. (2019). Financial analysis of international energy trade: A strategic outlook for EU-15. Energies, 12(3), 431.

    Article  Google Scholar 

  • Zhu, H., Duan, L., Guo, Y., & Yu, K. (2016). The effects of FDI, economic growth and energy consumption on carbon emissions in ASEAN-5: Evidence from panel quantile regression. Economic Modelling, 58, 237–248.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Kavacık South Campus, Istanbul Medipol University, Istanbul, Turkey

    Gökhan Silahtaroğlu

  2. School of Business, Istanbul Medipol University, Istanbul, Turkey

    Hasan Dinçer

  3. Business and Management, Istanbul Medipol University, Istanbul, Turkey

    Serhat Yüksel

Authors
  1. Gökhan Silahtaroğlu
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Hasan Dinçer
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Serhat Yüksel
    View author publications

    You can also search for this author in PubMed Google Scholar

Appendices

Appendix 1

Key Terms and Definitions

BRICS::

Brazil, Russia, India, China, South Africa

E7::

Brazil, China, India, Indonesia, Mexico, Turkey, Russia

G7::

Germany, Italy, France, Japan, United Kingdom, United States, Canada

MINT::

Mexico, Indonesia, Nigeria, Turkey

TOPSIS::

The Technique for Order of Preference by Similarity to Ideal Solution

Appendix 2

Table 3.6 Linguistic evaluations of decision makers for fuzzy decision matrix
Full size table
Table 3.7 Fuzzy decision matrix of decision makers for Alternative 1
Full size table
Table 3.8 Fuzzy decision matrix of decision makers for Alternative 2
Full size table
Table 3.9 Fuzzy decision matrix of decision makers for Alternative 3
Full size table
Table 3.10 Fuzzy decision matrix of decision makers for Alternative 4
Full size table
Table 3.11 Fuzzy decision matrix of decision makers for Alternative 5
Full size table
Table 3.12 Fuzzy decision matrix of decision makers for Alternative 6
Full size table
Table 3.13 Fuzzy decision matrix of decision makers for Alternative 7
Full size table
Table 3.14 Averaged fuzzy decision matrix
Full size table
Table 3.15 The values of \( {c}_{ij}^{\ast } \)
Full size table
Table 3.16 Normalized fuzzy decision matrix
Full size table
Table 3.17 Weighted normalized fuzzy decision matrix
Full size table
Table 3.18 Linguistic evaluations of decision makers for fuzzy decision matrix
Full size table
Table 3.19 Fuzzy decision matrix of decision makers for Alternative 1
Full size table
Table 3.20 Fuzzy decision matrix of decision makers for Alternative 2
Full size table
Table 3.21 Fuzzy decision matrix of decision makers for Alternative 3
Full size table
Table 3.22 Fuzzy decision matrix of decision makers for Alternative 4
Full size table
Table 3.23 Fuzzy decision matrix of decision makers for Alternative 5
Full size table
Table 3.24 Fuzzy decision matrix of decision makers for Alternative 6
Full size table
Table 3.25 Fuzzy decision matrix of decision makers for Alternative 7
Full size table
Table 3.26 Averaged fuzzy decision matrix
Full size table
Table 3.27 The values of \( {c}_{ij}^{\ast } \)
Full size table
Table 3.28 Normalized fuzzy decision matrix
Full size table
Table 3.29 Weighted normalized fuzzy decision matrix
Full size table

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Silahtaroğlu, G., Dinçer, H., Yüksel, S. (2021). Determining the Ways to Increase Economic Growth of Developing and Developed Economies: An Application with Data Mining and Fuzzy TOPSIS. In: Data Science and Multiple Criteria Decision Making Approaches in Finance. Multiple Criteria Decision Making. Springer, Cham. https://doi.org/10.1007/978-3-030-74176-1_3

Download citation

Publish with us

Policies and ethics

Search

Navigation