Ranking of Countries Using World Development Indicators: A Computational Approach

摘要

World Development constitutes of the development and growth of each country. There are various factors that come into play for the development of the country. Through the process of ranking, one can compare the strengths and weaknesses of one's nation. Thus it is necessary to identify correct ranking mechanism that will help us to perform this comparatative analysis. Modified Fuzzy Distance Base Approach (MFDBA) is one such approach that helps to rank the countries and study various factors affecting the same. There are many tools that can perform this ranking on the basis of single factor, but none that studies multiple factors. Hence, through this paper Multi-Criteria Decision Making is used for determining the rank of 27 countries. It also helps in further predicting the future trend and study the progress of various nations.