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How Do Economies Grow, How Do They Interract, How Do They Fall and How Do They Recover?

How Do Economies Grow, How Do They Interract, How Do They Fall and How Do They Recover?

This video was recorded at International Workshop on Coping with Crises in Complex Socio-Economic Systems. The stochastic spatially extended generalized Lokta-Volterra approach was introduced a few years ago and was applied using analytical (field theory and statistical mechanics methods), numerically (computer experiments) and empirical (gathering and processing real data) techniques to a wide range of natural, biological, economic and social systems. In this talk I will describe its recent application to the study of interactions between economic sectors, countries and blocks. The theory predicts robustly in a very wide range of conditions systematic regularities in the growth rates evolution of various subsystems. The after-shocks J-curve phenomenon (economic decay and rebound induced by... Show More
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