Complex scenarios in socio-economic data: a comprehensive analytical study

Assistant Professor Sanjay Kumar Palit, Associate Professor Santo Banerjee and Assisyant Professor Sayan Mukherjee

Chapter 19 in Handbook of Research Methods in Complexity Science, 2018, pp 388-425 from Edward Elgar Publishing

Abstract: The socio-economic scenario of a country reflects its social, economic, political, ideological, ethical, cultural, or communicative habits, making its proper analysis for different countries quite challenging. Complexity science has provided some new methods and tools for dealing with this challenge. Country-level Gross Domestic Product (GDP) and population are the two most important issues in the socio-economic context. In order to show the effectiveness of different nonlinear tools in analysing socio-economic data, the authors implemented three popular nonlinear tools: recurrence rate, mean conditional recurrence (MCR) and complex networks (CN) to analyse country level GDP and population data to validate the derived results with the standard conclusions based on general theories of economics. recurrence rate is used to show how two non-identical systems get synchronized through their phase spaces. MCR detects the driver and response system in synchronized states and CN reflects the overall scenarios of the complex systems by its various statistical measures.

Keywords: Business and Management; Geography; Innovations and Technology; Politics and Public Policy Research Methods; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781785364419.00031.xml (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16937_19

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().