We construct an artificial neural network to act as a system of leading indicators. We focus on radial basis functions as the architecture and forward selection as the method for determining the number of basis functions in the network. A brief review is given of the advantages of this as a strategy. Using common heuristics to determine scaling, radii and centre population, we find that the results for output growth prediction for six European countries are promising.
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Paper provided by National Institute of Economic and Social Research in its series NIESR Discussion Papers with number
144.