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Applying Fractional Calculus to Analyze Economic Growth Modelling Cover

Applying Fractional Calculus to Analyze Economic Growth Modelling

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].

DOI: https://doi.org/10.2478/jamsi-2018-0003 | Journal eISSN: 1339-0015 | Journal ISSN: 1336-9180
Language: English
Page range: 25 - 36
Submitted on: Jun 1, 2017
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Published on: Jun 19, 2018
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 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.