Applying Fractional Calculus to Analyze Economic Growth Modelling

D. Luo; J. R. Wang; M. Fečkan

doi:10.2478/jamsi-2018-0003

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Applying Fractional Calculus to Analyze Economic Growth Modelling

Journal of Applied Mathematics, Statistics and Informatics

Volume 14 (2018): Issue 1 (May 2018)

By: D. Luo, J. R. Wang and M. Fečkan

Open Access

|Jun 2018

Abstract

In this work, we apply fractional calculus to analyze a class of economic growth modelling (EGM) of the Spanish economy. More precisely, the Grünwald-Letnnikov and Caputo derivatives are used to simulate GDP by replacing the previous integer order derivatives with the help of Matlab, SPSS and R software. As a result, we find that the data raised from the Caputo derivative are better than the data raised from the Grünwald-Letnnikov derivative. We improve the previous result in [12].

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Articles in this issue

DOI: https://doi.org/10.2478/jamsi-2018-0003 | Journal eISSN: 1339-0015 | Journal ISSN: 1336-9180

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Language: English

Page range: 25 - 36

Submitted on: Jun 1, 2017

Published on: Jun 19, 2018

Published by: University of Ss. Cyril and Methodius in Trnava

In partnership with: Paradigm Publishing Services

Publication frequency: 2 issues per year

Keywords:

Grünwald-Letnnikov derivative,

Caputo derivative,

Economic growth modelling,

Genetic algorithm,

Method of least squares

Related subjects:

Computer sciences,

Information technology,

Mathematics,

Logic and set theory,

Probability and statistics,

Applied mathematics

© 2018 D. Luo, J. R. Wang, M. Fečkan, published by University of Ss. Cyril and Methodius in Trnava
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Volume 14 (2018): Issue 1 (May 2018)