Measurement of Economic Growth, Development and Under Development: New Model and Application
Abstract
This paper presents a simple model to measure the relative economic growth of economic systems. The model considers S-Shaped patterns of economic growth that, represented with a linear model, measure how an economic system grows in comparison with another one. In particular, this model introduces an approach which indicates if the economic system has a process of economic growth, development or under development. The application of the model is provided for regions and macro regions of the Italian economic system.
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