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- W1947854764 abstract "The stochastic spatially extended generalized Lokta-Volterra approach introduced in Solomon [48], Challet et al. [18], Yaari et al. [58], is extended to the study of interactions between economic sectors, countries and blocks. The theory predicts robustly in a very wide range of conditions systematic regularities in the growth rates evolution of various subsystems. The J-curve phenomenon which was studied in Challet et al. [18] is revisited and more empirical support is given to the theory. In particular to the connection between the economic minimum and the crossover of the new emergent leading sector with the old decaying one. We describe the ’Growth Alignment Effect’ (GAE), it’s theoretical basis and demonstrate it empirically for numerous cases in the inter-national and intra-national economies. The GAE is the concept that in steady state the growth rates of the GDP per capita of the various system components align. We differentiate the GAE predictions from the usual convergence or divergence conceptual framework. Further investigations of GAE and subsidiaries are suggested and possible uses are proposed. Due to it’s simple and robust nature, the method can be used as a tool for economic decisions and policy making." @default.
- W1947854764 created "2016-06-24" @default.
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- W1947854764 date "2009-01-01" @default.
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- W1947854764 title "Do all economies grow equally fast?" @default.
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- W1947854764 doi "https://doi.org/10.3233/rda-2009-0015" @default.
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