Using Artificial Neural Networks To Forecast Gdp For Turkey

Using Artificial Neural Networks To Forecast Gdp For Turkey

Karaatli, Meltem

Artificial Neural Networks (ANN) is a system resembling biological neural systems and uses working principles of human brain as a base. ANN can be applied in various fields for the purposes of forecasting, classification, optimization, data binding and so on. ANN has been frequently used in financial applications in recent years. In this study, ANN is used in forecasting Gross Domestic Product of Turkey. Gross Domestic Product (GDP) refers to the market value of all final goods and services produced within a country in a given period. GDP can be thought as the size of an economy and it is the foremost important measure of macroeconomic performance of a country, a country’s health and standard of living. Therefore, expectations about future GDP can be the primary determinant of investments, employment, wages, profits and even stock market activities. With respect to its economic significance mentioned above, the purpose of this study is to forecast Gross Domestic Product (GDP) for Turkey and to test the ability of ANN Method in forecasting GDP. Keywords: Importance of Gross Domestic Product, Forecasting, Artificial Neural Networks.

Conference or Workshop Item
PeerReviewed

2012-05-31

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