Economic development evaluation based on science and patents

Bojana Jokanović, Bojan Lalic, Miloš Milovančević, Nenad Simeunović and Dusan Marković

Physica A: Statistical Mechanics and its Applications, 2017, vol. 481, issue C, 141-145

Abstract: Economic development could be achieved through many factors. Science and technology factors could influence economic development drastically. Therefore the main aim in this study was to apply computational intelligence methodology, artificial neural network approach, for economic development estimation based on different science and technology factors. Since economic analyzing could be very challenging task because of high nonlinearity, in this study was applied computational intelligence methodology, artificial neural network approach, to estimate the economic development based on different science and technology factors. As economic development measure, gross domestic product (GDP) was used. As the science and technology factors, patents in different field were used. It was found that the patents in electrical engineering field have the highest influence on the economic development or the GDP.

Keywords: Economic development; Computational intelligence; Science and technology; Patents (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:481:y:2017:i:c:p:141-145

DOI: 10.1016/j.physa.2017.04.015

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