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The neural model of the European Union (EU-27) annual growth rates

Author

Listed:
  • Elefterie Liana

    ()

  • Tudoroiu Nicolae

    () (Spiru Haret University of Constanta)

Abstract

The EU statistics reveal over 19 million active enterprises within the EU-27’s nonfinancial business economy (defined as industry construction, distributive trades and services, and therefore excluding financial and public services) in 2004. About one third (32.5%) were active in the distributive trades sector which were also relatively labor-intensive activities, accounting for almost 25 % of the EU-27’s non-financial business economy workforce in 2004. In this work we develop a study of the impact of the annual growth rates for industry of the European Union countries on the global annual growth rate of the European Union-27 using neural models between 2004-2008. This research work investigates the possibility to apply neural network modeling for simulation and prediction of the EU-27 global index of production and domestic output price index behavior due to the impact of the same indices of different EU-27’s countries. Therefore we will explore this modeling technique to build the neural model of this complex dynamic economy system. The results obtained by using neural models are more accuracy compared to those obtained by regression methods, and the performance of the neural networks is audacious.

Suggested Citation

  • Elefterie Liana & Tudoroiu Nicolae, 2010. "The neural model of the European Union (EU-27) annual growth rates," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 638-644, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:638-644
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    More about this item

    Keywords

    neural modal; enterprises; nonfinancial business economy; index of production; domestic output price index;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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