Improved GM (1, 1) model in the economic growth forecast of Qinghai

Jiadong Ju; Guoping Xi; Li Wang

doi:10.4028/www.scientific.net/AMM.58-60.1471

Improved GM (1, 1) model in the economic growth forecast of Qinghai

Jiadong Ju^*
, Guoping Xi
, Li Wang

^*Corresponding author for this work

School of Economics and Management

Beihang University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

GDP and industrial investment funds-added are two major factors of measuring economic development for certain countries or regions. In this paper, we use gross domestic product and industrial investment funds as original data from Qinghai Province (2005-2009), and design an improved GM (1, 1) model which is based on the traditional Gray System to analyze and forecast the overall economic growth of Qinghai Province. The improved GM (1, 1) model not only maintains the advantages of simple calculation method, but also greatly improves the traditional GM (1, 1) model to make prediction more accuracy. The experimental results show that this method using improved GM (1, 1) model is high prediction accuracy in forecasting economic growth of Qinghai province. This method is very practical, and it can provide reliable scientific basis for local government to make right directions behind economic growth and industrial development in that region.

Original language	English
Title of host publication	Information Technology for Manufacturing Systems II
Pages	1471-1475
Number of pages	5
DOIs	https://doi.org/10.4028/www.scientific.net/AMM.58-60.1471
State	Published - 2011
Event	2011 International Conference on Information Technology for Manufacturing Systems, ITMS 2011 - Shanghai, China Duration: 7 May 2011 → 8 May 2011

Publication series

Name	Applied Mechanics and Materials
Volume	58-60
ISSN (Print)	1660-9336
ISSN (Electronic)	1662-7482

Conference

Conference	2011 International Conference on Information Technology for Manufacturing Systems, ITMS 2011
Country/Territory	China
City	Shanghai
Period	7/05/11 → 8/05/11

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

Differential equations
Economic growth
GM (1, 1)
Gray theory

Access to Document

10.4028/www.scientific.net/AMM.58-60.1471

Cite this

@inproceedings{ff1c646896cb41df9a0324c1dce2db11,

title = "Improved GM (1, 1) model in the economic growth forecast of Qinghai",

abstract = "GDP and industrial investment funds-added are two major factors of measuring economic development for certain countries or regions. In this paper, we use gross domestic product and industrial investment funds as original data from Qinghai Province (2005-2009), and design an improved GM (1, 1) model which is based on the traditional Gray System to analyze and forecast the overall economic growth of Qinghai Province. The improved GM (1, 1) model not only maintains the advantages of simple calculation method, but also greatly improves the traditional GM (1, 1) model to make prediction more accuracy. The experimental results show that this method using improved GM (1, 1) model is high prediction accuracy in forecasting economic growth of Qinghai province. This method is very practical, and it can provide reliable scientific basis for local government to make right directions behind economic growth and industrial development in that region.",

keywords = "Differential equations, Economic growth, GM (1, 1), Gray theory",

author = "Jiadong Ju and Guoping Xi and Li Wang",

year = "2011",

doi = "10.4028/www.scientific.net/AMM.58-60.1471",

language = "英语",

isbn = "9783037851494",

series = "Applied Mechanics and Materials",

pages = "1471--1475",

booktitle = "Information Technology for Manufacturing Systems II",

note = "2011 International Conference on Information Technology for Manufacturing Systems, ITMS 2011 ; Conference date: 07-05-2011 Through 08-05-2011",

}

Ju, J, Xi, G & Wang, L 2011, Improved GM (1, 1) model in the economic growth forecast of Qinghai. in Information Technology for Manufacturing Systems II. Applied Mechanics and Materials, vol. 58-60, pp. 1471-1475, 2011 International Conference on Information Technology for Manufacturing Systems, ITMS 2011, Shanghai, China, 7/05/11. https://doi.org/10.4028/www.scientific.net/AMM.58-60.1471

TY - GEN

T1 - Improved GM (1, 1) model in the economic growth forecast of Qinghai

AU - Ju, Jiadong

AU - Xi, Guoping

AU - Wang, Li

PY - 2011

Y1 - 2011

N2 - GDP and industrial investment funds-added are two major factors of measuring economic development for certain countries or regions. In this paper, we use gross domestic product and industrial investment funds as original data from Qinghai Province (2005-2009), and design an improved GM (1, 1) model which is based on the traditional Gray System to analyze and forecast the overall economic growth of Qinghai Province. The improved GM (1, 1) model not only maintains the advantages of simple calculation method, but also greatly improves the traditional GM (1, 1) model to make prediction more accuracy. The experimental results show that this method using improved GM (1, 1) model is high prediction accuracy in forecasting economic growth of Qinghai province. This method is very practical, and it can provide reliable scientific basis for local government to make right directions behind economic growth and industrial development in that region.

AB - GDP and industrial investment funds-added are two major factors of measuring economic development for certain countries or regions. In this paper, we use gross domestic product and industrial investment funds as original data from Qinghai Province (2005-2009), and design an improved GM (1, 1) model which is based on the traditional Gray System to analyze and forecast the overall economic growth of Qinghai Province. The improved GM (1, 1) model not only maintains the advantages of simple calculation method, but also greatly improves the traditional GM (1, 1) model to make prediction more accuracy. The experimental results show that this method using improved GM (1, 1) model is high prediction accuracy in forecasting economic growth of Qinghai province. This method is very practical, and it can provide reliable scientific basis for local government to make right directions behind economic growth and industrial development in that region.

KW - Differential equations

KW - Economic growth

KW - GM (1, 1)

KW - Gray theory

UR - https://www.scopus.com/pages/publications/79960459230

U2 - 10.4028/www.scientific.net/AMM.58-60.1471

DO - 10.4028/www.scientific.net/AMM.58-60.1471

M3 - 会议稿件

AN - SCOPUS:79960459230

SN - 9783037851494

T3 - Applied Mechanics and Materials

SP - 1471

EP - 1475

BT - Information Technology for Manufacturing Systems II

T2 - 2011 International Conference on Information Technology for Manufacturing Systems, ITMS 2011

Y2 - 7 May 2011 through 8 May 2011

ER -

Improved GM (1, 1) model in the economic growth forecast of Qinghai

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

Other files and links

Fingerprint

Cite this