Global dynamics of GDP and trade

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Tác giả: Abhin Kakkad, Arnab K Ray

Ngôn ngữ: eng

Ký hiệu phân loại: 339.4 Factors affecting income and wealth

Thông tin xuất bản: 2021

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 167796

Comment: 8 pages, 12 figures, ReVTeX double column formatWe use the logistic equation to model the dynamics of the GDP and the trade of the six countries with the highest GDP in the world, namely, USA, China, Japan, Germany, UK and India. From the modelling of the economic data, which are made available by the World Bank, we predict the maximum values of the growth of GDP and trade, as well as the duration over which exponential growth can be sustained. We set up the correlated growth of GDP and trade as the phase solutions of an autonomous second-order dynamical system. GDP and trade are related to each other by a power law, whose exponent seems to differentiate the six national economies into two types. Under conducive conditions for economic growth, our conclusions have general validity.
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