Fractional State Space Analysis of Economic Systems

Entropy

J. A. Tenreiro Machado³  Maria Eugénia Mata²  António M. Lopes¹ 

[1] UISPA-LAETA/INEGI, Faculty of Engineering, University of Porto, Rua Dr. Roberto Frias, 4200-465 Porto, Portugal; E-Mail:;Nova SBE, Universidade Nova de Lisboa, Faculdade de Economia, Campus de Campolide, Lisbon, Portugal; E-Mail:;Institute of Engineering, Polytechnic of Porto, Rua Dr. António Bernardino de Almeida, 431, 4200-072 Porto, Portugal

关键词: state space portrait;    fractional calculus;    multidimensional scaling;    economic growth;    convergence and divergence;    colonizers and offshores;   

DOI  :  10.3390/e17085402

来源: mdpi

【 摘 要 】

This paper examines modern economic growth according to the multidimensional scaling (MDS) method and state space portrait (SSP) analysis. Electing GDP per capita as the main indicator for economic growth and prosperity, the long-run perspective from 1870 to 2010 identifies the main similarities among 34 world partners’ modern economic growth and exemplifies the historical waving mechanics of the largest world economy, the USA. MDS reveals two main clusters among the European countries and their old offshore territories, and SSP identifies the Great Depression as a mild challenge to the American global performance, when compared to the Second World War and the 2008 crisis.

【 授权许可】

CC BY   
© 2015 by the authors; licensee MDPI, Basel, Switzerland.