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A Model Dedicated To Forecast The Evolution Of The Real Economy And Financial Markets System From Romania Using Concepts From Open Systems Thermodinamics – Project Description

Author

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  • Lect. Ph.D Stanciu Cristian Valeriu

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

  • Lect. Ph.D Rizescu Sabin

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

  • Prof. Ph.D Spulbar Cristi

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

  • Assoc. Prof. PhD Dracea Raluca

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

Abstract

The project aims to create an econometric model which allows the forecasting of the evolution of Romania’s real economy, as well as the evolution of the system of Romanian financial markets. The study basis is represented by the assimilation of real economies with physics systems which are appropriate to the modeling with the aid of statistical physics and thermodynamics of open systems. Where certain data come under record, some economic and market processes can be assimilated with afferent processes to some Brownian systems.

Suggested Citation

  • Lect. Ph.D Stanciu Cristian Valeriu & Lect. Ph.D Rizescu Sabin & Prof. Ph.D Spulbar Cristi & Assoc. Prof. PhD Dracea Raluca, 2009. "A Model Dedicated To Forecast The Evolution Of The Real Economy And Financial Markets System From Romania Using Concepts From Open Systems Thermodinamics – Project Description," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(13S), pages 19-26, November.
  • Handle: RePEc:aio:rteyej:v:1:y:2009:i:13s:p:19-26
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    More about this item

    Keywords

    real economy; financial markets; forecast model; open systems thermodynamics;

    JEL classification:

    • F00 - International Economics - - General - - - General
    • G00 - Financial Economics - - General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Z00 - Other Special Topics - - General - - - General

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