Application of discrete dynamic model for the assessment of stability of the world economy development

Anatoly Kilyachkov, Larisa Chaldaeva and Nikolay Kilyachkov

Business and Economic Horizons (BEH), 2018, vol. 14, issue 1, 75-84

Abstract: A discrete dynamic model (DDM) is used to describe the pace of the world GDP annual change rate. The Mandelbrot set of DDM was constructed for different time intervals to assess the ability of the world economic system to maintain a steady pace of development. The article shows that the world economic system is in a fundamentally non-equilibrium state. The Mandelbrot set was proposed to use as a generalized image ("pictogram") of the world economy's ability to maintain sustained development rates.

Keywords: Discrete dynamic model; world GDP annual change rate; attractors; Julia set; Mandelbrot set. (search for similar items in EconPapers)
JEL-codes: C51 C62 E32 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pdc:jrnbeh:v:14:y:2018:i:1:p:75-84

DOI: 10.15208/beh.2018.6

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