IDEAS home Printed from https://ideas.repec.org/a/eme/ijsepp/v38y2011i5p416-437.html
   My bibliography  Save this article

Socio‐economic development model based on stochastic advance‐retreat course

Author

Listed:
  • Feng Dai
  • Jianping Qi
  • Ling Liang

Abstract

Purpose - The purpose of this paper is to reveal some basic characteristics in social and economic process, and lay the analytic foundation for advance‐retreat course (ARC). Design/methodology/approach - The paper presents the analytic model of stochastic ARC (SARC), which is based on the partial distribution and partial process (belonging to the probability theory and stochastic process), and describes some important characteristics of social and economic process in a quantitative method. Findings - The successful socio‐economic process, including many biological process, are usually divided into three basic stages: the weak growth, the quick development and the swift decline. In general, rapid growth brings with it the weak persistence, and slow growth brings with it the strong persistence. The socio‐economic fluctuations are mainly caused by the excessive environmental pressures. The duration of the socio‐economic growth is inverse with the environmental pressure. Research limitations/implications - All the basic variables and parameters in an ARC model should be no less than zero. Practical implications - Based on US GDP (chained) price index data (1940‐2005), American economic process in recent 70 years is analyzed, and the analysis indicates, American economic motivity is clearly insufficient after 2008, and the present economic recovery will be very arduous and prolonged. Social implications - The environmental pressures will become the main problem for future global socio‐economic development. Originality/value - SARC model in this paper presents a special way to analyze the social development and economic growth, and is helpful to related academic research and socio‐economic decision making.

Suggested Citation

  • Feng Dai & Jianping Qi & Ling Liang, 2011. "Socio‐economic development model based on stochastic advance‐retreat course," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 38(5), pages 416-437, April.
    • Handle: RePEc:eme:ijsepp:v:38:y:2011:i:5:p:416-437
    DOI: 10.1108/03068291111123129
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/03068291111123129/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/03068291111123129/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/03068291111123129?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. Plosser, Charles I, 1989. "Understanding Real Business Cycles," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 51-77, Summer.
    2. Ishise, Hirokazu & Sawada, Yasuyuki, 2009. "Aggregate returns to social capital: Estimates based on the augmented augmented-Solow model," Journal of Macroeconomics, Elsevier, vol. 31(3), pages 376-393, September.
    3. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    4. DAI & Feng QIN & Zifu, 2005. "DF Structure Models for Options Pricing," The IUP Journal of Applied Economics, IUP Publications, vol. 0(6), pages 61-77, November.
    5. Dmitry Chistilin, 2009. "The Self-Organization And Sustainable Development Of The Global System: Model And The Main Principle Of The Simulation Modeling," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 46(3), pages 139-157.
    6. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    7. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
    8. Solow, Robert M., 2000. "Growth Theory: An Exposition," OUP Catalogue, Oxford University Press, edition 2, number 9780195109030.
    9. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, April.
    10. Ani MATEI & Stoica ANGHELESCU, 2010. "Models with Simultaneous Equations for Local Development," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 1(1(542)), pages 27-48, January.
    11. de la Croix,David & Michel,Philippe, 2002. "A Theory of Economic Growth," Cambridge Books, Cambridge University Press, number 9780521001151, September.
    12. David Fielding, 2002. "Health and Wealth: A Structural Model of Social and Economic Development," Review of Development Economics, Wiley Blackwell, vol. 6(3), pages 393-414, October.
    13. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
    14. Dai Feng & Liang Ling, 2007. "Optimal Choosing Models for Executing Criteria for American Options," The IUP Journal of Applied Economics, IUP Publications, vol. 0(6), pages 94-109, November.
    15. Mamudu A. Akudugu & Irene S. Egyir & Akwasi Mensah‐Bonsu, 2009. "Women farmers' access to credit from rural banks in Ghana," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 69(3), pages 284-299, November.
    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. Feng, Dai & Yuan-Zheng, Zhong, 2006. "The Stochastic Advance-Retreat Course: An Approach to Analyse Social-Economic Evolution," MPRA Paper 117, University Library of Munich, Germany.
    2. Dai, Feng & Li, Pengpeng & Liang, Ling, 2016. "Long-term economic growth under environmental pressure: An optimal path," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 15-24.
    3. Amavilah, Voxi Heinrich, 2014. "Knowledge = Technology + Human Capital and the Lucas and Romer Production Functions," MPRA Paper 58847, University Library of Munich, Germany.
    4. Christian Groth & Karl-Josef Koch & Thomas Steger, 2006. "Rethinking the Concept of Long-Run Economic Growth," CESifo Working Paper Series 1701, CESifo.
    5. Ribeiro, M.J., 2000. "A Nonscale Growth Model with R&D and Human Capital Accumulation," The Warwick Economics Research Paper Series (TWERPS) 574, University of Warwick, Department of Economics.
    6. Jeon, Heesang, 2015. "Knowledge and Contemporary Capitalism in Light of Marx's Value Theory," Thesis Commons g5njk, Center for Open Science.
    7. Gomes, Orlando, 2006. "Heterogeneous Researchers in a Two-Sector Representative Consumer Economy," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 60(2), November.
    8. Slavtcheva, Dessislava, 2015. "Financial development, exchange rate regimes and productivity growth: Theory and evidence," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 109-123.
    9. feng dai, 2005. "Boating Against the Current: Cases, Concepts, Models and Development Power," Econometrics 0503003, University Library of Munich, Germany.
    10. Zeng, Jinli & Zhang, Jie, 2007. "Subsidies in an R&D growth model with elastic labor," Journal of Economic Dynamics and Control, Elsevier, vol. 31(3), pages 861-886, March.
    11. Bode, Eckhardt, 2001. "Is regional innovative activity path-dependent? An empirical analysis for Germany," Kiel Working Papers 1058, Kiel Institute for the World Economy (IfW Kiel).
    12. Gomes, Orlando, 2007. "Externalities in R&D: a route to endogenous fluctuations," MPRA Paper 2850, University Library of Munich, Germany.
    13. Maria João Ribeiro, 2003. "Endogenous Growth: Analytical Review of its Generating Mechanisms," NIPE Working Papers 4/2003, NIPE - Universidade do Minho.
    14. Simon Wiederhold, 2012. "The Role of Public Procurement in Innovation: Theory and Empirical Evidence," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 43.
    15. Oscar Afonso & Alvaro Aguiar, 2003. "Non-Scale Effects of North-South Trade on Economic Growth," DEGIT Conference Papers c008_013, DEGIT, Dynamics, Economic Growth, and International Trade.
    16. Xiaokai Yang, 2006. "The Division Of Labor, Investment And Capital," World Scientific Book Chapters, in: Christis Tombazos & Xiaokai Yang (ed.), Inframarginal Contributions To Development Economics, chapter 16, pages 409-436, World Scientific Publishing Co. Pte. Ltd..
    17. Bröcker, Johannes & Korzhenevych, Artem, 2013. "Forward looking dynamics in spatial CGE modelling," Economic Modelling, Elsevier, vol. 31(C), pages 389-400.
    18. van Schaik, Anton B. T. M. & de Groot, Henri L. F., 2002. "Macroeconomic consequences of downsizing," Economic Modelling, Elsevier, vol. 19(3), pages 331-352, May.
    19. Feng Dai, 2004. "The Soft Engine for Economic Growth in a Long-Time:The Economic Development Power, Conversion and Conservation for economic Energy," Macroeconomics 0411009, University Library of Munich, Germany.
    20. Ufuk Akcigit & William R. Kerr, 2018. "Growth through Heterogeneous Innovations," Journal of Political Economy, University of Chicago Press, vol. 126(4), pages 1374-1443.

    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:eme:ijsepp:v:38:y:2011:i:5:p:416-437. 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: Emerald Support (email available below). General contact details of provider: .

    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.