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Title: A fuzzy analysis of country-size argument for the Feldstein-Horioka puzzle
Authors: Özkan, İbrahim
Erden, Lütfi
Türkşen, İsmail Burhan
Keywords: Fuzzy Sets
Fuzzy Logic and Approximate Reasoning
Finance and Economic Modelling and Optimisation
Issue Date: 2009
Publisher: Elsevier Science Inc
Abstract: This study aims to analyze the effect of country size, represented by relative Gross National Products (GNP), on the association between domestic investment and saving, using data from a panel of 21 OECD countries. The countries are clustered into four groups with respect to their relative country sizes with an application of Fuzzy c-Means clustering technique. The novelty of this approach is that it is an unsupervised method that generates membership values between zero and one instead of binary values that take values of zero or one only. In addition to this it has the advantages of its tolerance to imprecise data and the ease of understanding. The results show that the saving retention coefficients are greater for larger countries except for the cluster which contains the largest country. Thus, this work presents only partial evidence that the country size affects the relationship of domestic saving and investment. (c) 2009 Elsevier Inc. All rights reserved.
ISSN: 0020-0255
Appears in Collections:Endüstri Mühendisliği Bölümü / Department of Industrial Engineering
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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