2024
DOI: 10.3390/math12203219
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Combining Differential Equations with Stochastic for Economic Growth Models in Indonesia: A Comprehensive Literature Review

Muhamad Deni Johansyah,
Endang Rusyaman,
Bob Foster
et al.

Abstract: Economic growth modeling is one of the methods a government can use to formulate appropriate economic policies to improve the prosperity of its people. Differential equations and stochastic models play a major role in studying economic growth. This article aims to conduct a literature review on the use of differential equations in relation to stochastics to model economic growth. In addition, this article also discusses the use of differential and stochastic equations in economic growth models in Indonesia. Th… Show more

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