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Application of discrete dynamic model for the assessment of stability of the world economy development

Author

Listed:
  • Anatoly Kilyachkov
  • Larisa Chaldaeva
  • Nikolay Kilyachkov

Abstract

A discrete dynamic model (DDM) is used to describe the pace of the world GDP annual change rate. The Mandelbrot set of DDM was constructed for different time intervals to assess the ability of the world economic system to maintain a steady pace of development. The article shows that the world economic system is in a fundamentally non-equilibrium state. The Mandelbrot set was proposed to use as a generalized image ("pictogram") of the world economy's ability to maintain sustained development rates.

Suggested Citation

  • Anatoly Kilyachkov & Larisa Chaldaeva & Nikolay Kilyachkov, 2018. "Application of discrete dynamic model for the assessment of stability of the world economy development," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(1), pages 75-84, January.
    • Handle: RePEc:pdc:jrnbeh:v:14:y:2018:i:1:p:75-84
    DOI: 10.15208/beh.2018.6
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    References listed on IDEAS

    as
    1. Claude Diebolt & Cédric Doliger, 2008. "New international evidence on the cyclical behaviour of output: Kuznets swings reconsidered," Quality & Quantity: International Journal of Methodology, Springer, vol. 42(6), pages 719-737, December.
    2. Anatoly Kilyachkov & Larisa Chaldaeva, 2017. "Description of world GDP rate changes by using discrete dynamic model," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(1), pages 77-96, March.
    3. Masaaki Hirooka, 2006. "Innovation Dynamism and Economic Growth," Books, Edward Elgar Publishing, number 3234.
    4. Kilyachkov, Anatoly & Chaldaeva, Larisa & Kilyachkov, Nikolay, 2017. "Description of world GDP rate changes by using discrete dynamic model," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 13(1).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Discrete dynamic model; world GDP annual change rate; attractors; Julia set; Mandelbrot set.;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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