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A global socioeconomic study based on the 2019 Index of Economic Freedom

by Marcel Camara, Data Scientist

This white paper aims to identify groups of countries with similar socioeconomic indicators using the Index of Economic Freedom. Descriptive statistics, boxplots, k-means clustering and variables characterization are some of the XLSTAT tools used for the purpose of this analysis.

Table of contents

  1. Introduction
  2. Descriptive analysis of indicators
    1. GDP growth
    2. Corporate tax rate
    3. Infant mortality rate (less than 1 year old)
  3. Classifying countries into homogeneous groups
    1. Choosing the number of clusters
  4. Cluster profile analysis
  5. Visualizing the classification
  6. Conclusion
  7. Additional information