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Economic growth in the European Union modelled with fractional derivatives: first results

Tejado I., Pérez E., Valério D.

Bulletin of the Polish Academy of Sciences. Technical Sciences

2018

Vol. 66, nr 4

455--465

This paper presents models of economic growth for all states of the European Union (EU), since either 1970 or the year of accession to the EU. Both integer and fractional order models are obtained, where the gross domestic product (GDP) is a function of the country’s land area, gross capital formation (GCF), exports of goods and services, and average years of school attendance.