An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth
Analogies with mechanisms ruling the natural world have oft en been sought in the course of economic phenomena.Th is paper is also an attempt to combine the physical phenomenon of a harmonious oscillator withthe theory of economic growth by J. H. Dunning (1981). In his theory, Dunning distinguished...
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| Format: | Article |
| Language: | English |
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Czech Statistical Office
2013-09-01
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| Series: | Statistika: Statistics and Economy Journal |
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| Online Access: | http://www.czso.cz/csu/2013edicniplan.nsf/engt/EC00288FBF/$File/180213q3056.pdf |
| _version_ | 1819042926103101440 |
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| author | Marcin Salamaga |
| author_facet | Marcin Salamaga |
| author_sort | Marcin Salamaga |
| collection | DOAJ |
| description | Analogies with mechanisms ruling the natural world have oft en been sought in the course of economic phenomena.Th is paper is also an attempt to combine the physical phenomenon of a harmonious oscillator withthe theory of economic growth by J. H. Dunning (1981). In his theory, Dunning distinguished stages of economicgrowth of countries that imply the dependency between the investment position of countries and theirGDP per capita, while the graph presenting this dependency reminds a trajectory of oscillating motion of adamped harmonic oscillator. Th is analogy has given inspiration to reinterpret the theory of economy on thegrounds of the mechanism of a physical model. In this paper, the harmonious oscillator motion equation wasadapted to the description of dependencies shown in the theory of economic growth by J. H. Dunning. Th emathematical solution of this equation is properly parameterised and parameters are estimated with the useof the Gauss-Newton algorithm. Th e main objective of this paper is to allocate a specifi c stage in the economicgrowth to each country on the basis of the values of parameter estimations of the proposed cyclical models ofchanges in the net investment indicator. |
| first_indexed | 2024-12-21T09:48:39Z |
| format | Article |
| id | doaj.art-08c40ab56ac14338bda3d1257bb38ae1 |
| institution | Directory Open Access Journal |
| issn | 1804-8765 |
| language | English |
| last_indexed | 2024-12-21T09:48:39Z |
| publishDate | 2013-09-01 |
| publisher | Czech Statistical Office |
| record_format | Article |
| series | Statistika: Statistics and Economy Journal |
| spelling | doaj.art-08c40ab56ac14338bda3d1257bb38ae12022-12-21T19:08:15ZengCzech Statistical OfficeStatistika: Statistics and Economy Journal1804-87652013-09-019335669An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic GrowthMarcin SalamagaAnalogies with mechanisms ruling the natural world have oft en been sought in the course of economic phenomena.Th is paper is also an attempt to combine the physical phenomenon of a harmonious oscillator withthe theory of economic growth by J. H. Dunning (1981). In his theory, Dunning distinguished stages of economicgrowth of countries that imply the dependency between the investment position of countries and theirGDP per capita, while the graph presenting this dependency reminds a trajectory of oscillating motion of adamped harmonic oscillator. Th is analogy has given inspiration to reinterpret the theory of economy on thegrounds of the mechanism of a physical model. In this paper, the harmonious oscillator motion equation wasadapted to the description of dependencies shown in the theory of economic growth by J. H. Dunning. Th emathematical solution of this equation is properly parameterised and parameters are estimated with the useof the Gauss-Newton algorithm. Th e main objective of this paper is to allocate a specifi c stage in the economicgrowth to each country on the basis of the values of parameter estimations of the proposed cyclical models ofchanges in the net investment indicator.http://www.czso.cz/csu/2013edicniplan.nsf/engt/EC00288FBF/$File/180213q3056.pdfDunning’s theoryconvergenceGauss-Newton algorithm |
| spellingShingle | Marcin Salamaga An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth Statistika: Statistics and Economy Journal Dunning’s theory convergence Gauss-Newton algorithm |
| title | An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth |
| title_full | An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth |
| title_fullStr | An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth |
| title_full_unstemmed | An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth |
| title_short | An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth |
| title_sort | application of the harmonic oscillator model to verify dunning s theory of the economic growth |
| topic | Dunning’s theory convergence Gauss-Newton algorithm |
| url | http://www.czso.cz/csu/2013edicniplan.nsf/engt/EC00288FBF/$File/180213q3056.pdf |
| work_keys_str_mv | AT marcinsalamaga anapplicationoftheharmonicoscillatormodeltoverifydunningstheoryoftheeconomicgrowth AT marcinsalamaga applicationoftheharmonicoscillatormodeltoverifydunningstheoryoftheeconomicgrowth |