IDEAS home Printed from https://ideas.repec.org/a/wsi/ijmpcx/v29y2018i12ns0129183118501231.html
   My bibliography  Save this article

A fractional logistic approach for economic growth

Author

Listed:
  • L. A. Quezada-Téllez

    (Departamento de Matemáticas Aplicadas y Sistemas, UAM - Cuajimalpa, Avenida Vasco de Quiroga 4871, Col. Santa Fe, Cuajimalpa C.P. 05348, Ciudad de México, México)

  • L. Franco-Pérez

    (Departamento de Matemáticas Aplicadas y Sistemas, UAM - Cuajimalpa, Avenida Vasco de Quiroga 4871, Col. Santa Fe, Cuajimalpa C.P. 05348, Ciudad de México, México)

Abstract

A discrete logistic model is proposed for the Gross Domestic Product of an economy and its parameters are adjusted for some specific countries, taken from the Organization for Economic Co-operation and Development databases. Although this model fits “adequately” for some countries analyzed in this work, others show that it could be enhanced. A Caputo like fractional discrete model as a fractional version of the logistic one is presented, with the parameters stated previously. It is shown, by using the mean squared error, that this fractional version fits better for an economy whose behavior shows over time an isolated and unexpected boom period in its economy growth followed by a crisis period. For this type of dynamics, the fractional-order logistic equation improves the modeling given by an integer order logistic equation.

Suggested Citation

  • L. A. Quezada-Téllez & L. Franco-Pérez, 2018. "A fractional logistic approach for economic growth," International Journal of Modern Physics C (IJMPC), World Scientific Publishing Co. Pte. Ltd., vol. 29(12), pages 1-14, December.
    • Handle: RePEc:wsi:ijmpcx:v:29:y:2018:i:12:n:s0129183118501231
    DOI: 10.1142/S0129183118501231
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0129183118501231
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0129183118501231?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.

    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:wsi:ijmpcx:v:29:y:2018:i:12:n:s0129183118501231. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ijmpc/ijmpc.shtml .

    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.