IDEAS home Printed from https://ideas.repec.org/a/eee/phsmap/v603y2022ics0378437122005416.html
   My bibliography  Save this article

Entropic characterization of Gross Domestic Product per capita (GDP) values of countries

Author

Listed:
  • Gündüz, Güngör
  • Kuzucuoğlu, Mahmut
  • Gündüz, Yalın

Abstract

The historical change of Gross Domestic Product per capita (GDP) values of countries with the thirty largest economies was analyzed by using different entropies, (i) topological entropy, (ii) Shannon entropy, and (iii) configurational entropy. Topological entropy was used to analyze the number of periodic points of each ranking, and five segments corresponded to economic crises in the first ranking. The behavior in each segment could be described by polynomial equations. In all other rankings, the segments distorted to varying extents. Shannon entropy was used to analyze the entropy of each ranking and also the yearly change of the entropy of each country from 1960 to 2020. The negentropy change of each country was also analyzed. By the end of 2020, one country had equal entropy and negentropy, twelve countries had larger, and seventeen countries had smaller entropies than their negentropy. There was a close similarity between the change of topological entropy and negentropy in any ranking, but topological entropy gave more precise information because it is dependent not only on the distribution of data but also on the sequence of GDP data of different countries. The 18th ranking was a critical ranking having very large topological entropy and negentropy. The GDPs of countries sharply dropped after the 18th ranking. The configurational entropy came out to be maximum at the minimum values of GDP, or vice versa. It usually started with a small negative value, and its magnitude became larger in time. However, there occurred severe fluctuations in many of the cases. It means the configurational entropy gets less negative (i.e. it increases) in time through fluctuations. Overall, the entropic analysis of the GDP values of countries provides quantitative information about how countries performed over the years. The methods used here can be applied to other time-series systems having similar dynamics to GDP, as well as to competitive systems.

Suggested Citation

  • Gündüz, Güngör & Kuzucuoğlu, Mahmut & Gündüz, Yalın, 2022. "Entropic characterization of Gross Domestic Product per capita (GDP) values of countries," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 603(C).
    • Handle: RePEc:eee:phsmap:v:603:y:2022:i:c:s0378437122005416
    DOI: 10.1016/j.physa.2022.127831
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0378437122005416
    Download Restriction: Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000
    File URL: https://libkey.io/10.1016/j.physa.2022.127831?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mimkes, Jürgen, 2010. "Stokes integral of economic growth," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(8), pages 1665-1676.
    2. Ausloos, Marcel, 2020. "Rank–size law, financial inequality indices and gain concentrations by cyclist teams. The case of a multiple stage bicycle race, like Tour de France," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 540(C).
    3. Özer, Mustafa & Malovic, Marko, 2020. "Ball and chain effect: Is Turkey’s growth rate constrained by current account deficit?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 558(C).
    4. Hu, Lunchao & Tian, Kailan & Wang, Xin & Zhang, Jiang, 2012. "The “S” curve relationship between export diversity and economic size of countries," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(3), pages 731-739.
    5. Maksimović, Goran & Milosavljević, Valentina & Ćirković, Bratislav & Milošević, Božidar & Jović, Srđan & Alizamir, Meysam, 2017. "Analyzing of economic growth based on electricity consumption from different sources," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 484(C), pages 37-40.
    6. Kantar, Ersin & Keskin, Mustafa, 2013. "The relationships between electricity consumption and GDP in Asian countries, using hierarchical structure methods," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(22), pages 5678-5684.
    7. Jokanović, Bojana & Lalic, Bojan & Milovančević, Miloš & Simeunović, Nenad & Marković, Dusan, 2017. "Economic development evaluation based on science and patents," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 481(C), pages 141-145.
    8. Fred Y. Ye, 2007. "A quantitative relationship between per capita GDP and scientometric criteria," Scientometrics, Springer;Akadémiai Kiadó, vol. 71(3), pages 407-413, June.
    9. Inés Tejado & Emiliano Pérez & Duarte Valério, 2020. "Fractional Derivatives for Economic Growth Modelling of the Group of Twenty: Application to Prediction," Mathematics, MDPI, vol. 8(1), pages 1-21, January.
    10. Lin, Zhenquan & Meng, Fan, 2018. "Empirical analysis on the runners’ velocity distribution in city marathons," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 490(C), pages 533-541.
    11. Redelico, Francisco O. & Proto, Araceli N. & Ausloos, Marcel, 2009. "Hierarchical structures in the Gross Domestic Product per capita fluctuation in Latin American countries," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 388(17), pages 3527-3535.
    12. Tao, Yong, 2015. "Universal laws of human society’s income distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 435(C), pages 89-94.
    13. Yong Tao, 2015. "Universal Laws of Human Society's Income Distribution," Papers 1506.05418, arXiv.org.
    14. Po, Wan-Chen & Huang, Bwo-Nung, 2008. "Tourism development and economic growth–a nonlinear approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(22), pages 5535-5542.
    15. Kwong, Hok Shing & Nadarajah, Saralees, 2019. "Modelling dynamics of marathons – A mixture model approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 534(C).
    16. Tao, Yong, 2021. "Boltzmann-like income distribution in low and middle income classes: Evidence from the United Kingdom," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 578(C).
    17. Rashkovskiy, S.A., 2021. "Thermodynamics of markets," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 567(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yong Tao & Xiangjun Wu & Tao Zhou & Weibo Yan & Yanyuxiang Huang & Han Yu & Benedict Mondal & Victor M. Yakovenko, 2019. "Exponential structure of income inequality: evidence from 67 countries," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(2), pages 345-376, June.
    2. Guo, Junke & Mohebbi, Amin & Zhang, Tian C., 2022. "Application of general unit hydrograph model for marathon finish time distributions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 607(C).
    3. Tao, Yong & Sornette, Didier & Lin, Li, 2021. "Emerging social brain: A collective self-motivated Boltzmann machine," Chaos, Solitons & Fractals, Elsevier, vol. 143(C).
    4. Tao, Yong, 2020. "Self-referential Boltzmann machine," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 545(C).
    5. Tao, Yong, 2021. "Boltzmann-like income distribution in low and middle income classes: Evidence from the United Kingdom," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 578(C).
    6. Tao, Yong & Wu, Xiangjun & Li, Changshuai, 2017. "Rawls' fairness, income distribution and alarming level of Gini coefficient," Economics Discussion Papers 2017-67, Kiel Institute for the World Economy (IfW Kiel).
    7. Tao, Yong, 2018. "Swarm intelligence in humans: A perspective of emergent evolution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 502(C), pages 436-446.
    8. Solomon P. Nathaniel & Festus V. Bekun, 2020. "Electricity Consumption, Urbanization and Economic Growth in Nigeria: New Insights from Combined Cointegration amidst Structural Breaks," Research Africa Network Working Papers 20/013, Research Africa Network (RAN).
    9. Hasan Murat Ertugrul & Fatih Mangir, 2015. "The tourism-led growth hypothesis: empirical evidence from Turkey," Current Issues in Tourism, Taylor & Francis Journals, vol. 18(7), pages 633-646, July.
    10. Eugen Scarlat, 2016. "Connectivity - Based Clustering of GDP Time Series," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 23-38, March.
    11. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki & Inagaki, Yugo & Morgan, Peter J., 2021. "Analyzing the factors influencing the demand and supply of solar modules in Japan – Does financing matter," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 1-12.
    12. Liu, Yanxin & Li, Huajiao & Guan, Jianhe & Liu, Xueyong & Guan, Qing & Sun, Qingru, 2019. "Influence of different factors on prices of upstream, middle and downstream products in China's whole steel industry chain: Based on Adaptive Neural Fuzzy Inference System," Resources Policy, Elsevier, vol. 60(C), pages 134-142.
    13. Valerio Ficcadenti & Roy Cerqueti & Ciro Hosseini Varde’i, 2023. "A rank-size approach to analyse soccer competitions and teams: the case of the Italian football league “Serie A"," Annals of Operations Research, Springer, vol. 325(1), pages 85-113, June.
    14. Brida, Juan Gabriel & Pereyra, Juan Sebastián & Such, María Jesús & Pulina, Manuela, 2011. "Causalidad entre turismo y crecimiento económico de largo plazo: una revisión crítica de la literatura econométrica [Causality between tourism and long-term economic growth: a critical review of th," MPRA Paper 37332, University Library of Munich, Germany, revised 2011.
    15. Puertas, Rosa & Guaita-Martinez, José M. & Carracedo, Patricia & Ribeiro-Soriano, Domingo, 2022. "Analysis of European environmental policies: Improving decision making through eco-efficiency," Technology in Society, Elsevier, vol. 70(C).
    16. Tao, Yong & Lin, Li & Wang, Hanjie & Hou, Chen, 2023. "Superlinear growth and the fossil fuel energy sustainability dilemma: Evidence from six continents," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 39-51.
    17. Mesagan, Ekundayo Peter & Alimi, Olorunfemi Yasiru & Vo, Xuan Vinh, 2022. "The asymmetric effects of exchange rate on trade balance and output growth," The Journal of Economic Asymmetries, Elsevier, vol. 26(C).
    18. Abdulkarim K. Alhowaish, 2016. "Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries," Sustainability, MDPI, vol. 8(7), pages 1-10, June.
    19. E. M. Ekanayake & Aubrey E. Long, 2012. "Tourism Development And Economic Growth In Developing Countries," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 6(1), pages 51-63.
    20. Shi, Jianping & He, Ke & Fang, Hui, 2022. "Chaos, Hopf bifurcation and control of a fractional-order delay financial system," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 194(C), pages 348-364.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:603:y:2022:i:c:s0378437122005416. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.