Application of Grey-Markov Model in Forecasting the Variation Trend of Three Industrial Structures in Qingdao City

Ming-yi Li (bixichuidiao@yeah.net) and Hui-ying Gao
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Ming-yi Li: Ocean University of China
Hui-ying Gao: Ocean University of China

A chapter in Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, 2013, pp 303-312 from Springer

Abstract: Abstract Grey system model has been applied to a wide field, such as economy, agriculture, weather, engineering technology, etc. since it was born in 1982. In this article, GM (1, 1) is combined with Markov model to predict the variation trend of industrial structure in Qingdao over the next 8 years according to the proportion of primary, secondary, and tertiary industry in the past 13 years. In this way, we can provide useful advices to the government in the regulatory policies.

Keywords: GM (1; 1); Markov model; Three industrial structures; Variation trend (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-40063-6_31

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DOI: 10.1007/978-3-642-40063-6_31

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