Search results for " Time series pattern"
showing 2 items of 2 documents
Assessing the Beneficial Effects of Economic Growth: The Harmonic Growth Index
2011
In this paper we introduce the multidimensional notion of harmonic growth as a situation of diffused well-being associated to an increase of per capita GDP. We say that a country experienced a harmonic growth if during the observed period all the key indicators, proxies of the endogenous and exogenous forces driving population well-being, show a significantly common pattern with the income dynamics. The notion is operationalized via an index of time series harmony which follows the functional data analysis approach. This Harmonic Growth Index (HGI) is based on comparisons between the coefficients from cubic B-splines interpolation. Such indices are then synthesized in order to provide the g…
Harmonic growth: a new approach to the measurement of countries development
2009
The paper defines harmonic growth as a situation of diffuse well-being associated to an increase of GDP, and proposes a measures of time series similarity between GDP and each one from a set of social and economic indicators of development. Such indexes are then synthesized in order to provide the global degree of harmony in growth inside a country. A first Harmonic Growth Index is based on comparisons between couples of polynomials fitting the series. The second version of the index is obtained from cubic B-splines estimates. With an accurate selection of social indicators, both indexes can also be used to rank countries according to their level of development, offering effective complemen…