Temporal Dynamics of Countries' Journey to Cluster-Specific GDP per Capita: A Comprehensive Survival Study

Diego Vallarino
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Diego Vallarino: Independent Researcher, Madrid, Spain

Review of Economic Assessment, 2024, vol. 3, issue 1, 1-19

Abstract: This research delves into the temporal dynamics of a nation's pursuit of a targeted GDP per capita level, employing five different survival machine learning models, remarkably Deep Learning algorithm (DeepSurv) and Survival Random Forest. This nuanced perspective moves beyond static evaluations, providing a comprehensive understanding of the developmental processes shaping economic trajectories over time. The economic implications underscore the intricate balance required between calculated risk-taking and strategic vulnerability mitigation. These findings guide policymakers in formulating resilient economic strategies for sustained development and growth amid the complexities inherent in contemporary economic landscapes.

Keywords: Temporal dynamics; Survival analysis; Machine learning models; Economic development; Calculated risk-taking; Vulnerability mitigation; Developmental processes; Resilient economic strategies (search for similar items in EconPapers)
Date: 2024
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