Fractional state space analysis of economic systems

J. A. Tenreiro Machado, Maria Eugénia Mata, António M. Lopes

Research output: Contribution to journalArticle

61 Citations (Scopus)
9 Downloads (Pure)

Abstract

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.

Original languageEnglish
Pages (from-to)5402-5421
Number of pages20
JournalEntropy, Special Issue Entropy and Urban Sprawl
Volume17
Issue number8
DOIs
Publication statusPublished - 2015

Keywords

  • Colonizers and offshores
  • Convergence and divergence
  • Economic growth
  • Fractional calculus
  • Multidimensional scaling
  • State space portrait

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