Fig 5 - uploaded by Ubaldo Garibaldi
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Simulated value (1952–2003) of emerging countries. GDPp: Percentage real GDP per capita. Initial vector, 1952 (4, 8, 32, 44, 12): India, China, Mexico, South Africa and Taiwan.
Source publication
The aim of this work is to predict the economic convergence among countries by using a generalization of Ehrenfest's urn. In particular this work shows that the Ehrenfest model captures the convergence among countries. A empirical analysis is presented on the European Union countries, the G7 countries and the emerging countries.
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Citations
... Convergence of national product towards a stable state is still being analyzed especially in those countries that maintain low levels of growth. [1][2][3][4] Dynamical systems is a mathematical tool that allow us to study the evolution of phenomena over time, from physical, chemical and biological systems to those that arise in economic and¯nancial contexts. Among the most known continuous systems in the literature are the Lorenz, 5 Chen 6 and Lü 7 ones. ...
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