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10.5593/sgemsocial2017/15/S05.044

ECONOMIC GROWTH MODELING USING NON-LINEAR PREDICTION METHODS

I. Babenko
Thursday 28 September 2017 by Libadmin2017

References: 4th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM 2017, www.sgemsocial.org, SGEM2017 Conference Proceedings, ISBN 978-619-7408-17-1 / ISSN 2367-5659, 24 - 30 August, 2017, Book 1, Vol 5, 347-354 pp, DOI: 10.5593/sgemsocial2017/15/S05.044

ABSTRACT

Growth models are considered to be interesting to economists. The article shows the analyses of the basic approaches to growth models. Under the conditions of economic uncertainty the theories that take into account non-leaner relationships between development factors are considered to be very powerful. Moreover the solutions to the development factors that form cyclical path and the model based on the use of cyclical nature of economic development can be also very helpful. For this purpose special attention is given to the dynamic models, since leaner nature of relationships can be used to predict economic processes under the circumstances of planned economy. The latter is characterized by stable conditions of economic growth. Under the circumstances of transition-type and market economy, when most of economic processes have unstable nature, leaner models simplify the model, decrease adequacy of dynamic process description. In the course of research development attractors were formed using an example of the Kursk region.

Keywords: economic growth, growth models, development attractors