Structural change and economic dynamics: Rethinking from the complexity approach

Abstract

Economic systems have evolved through time thereby changing the structure that characterizes them. These changes respond to technological changes that transform economies into highly interconnected systems. The modifications in the norms that guide the behaviour of organizations and, therefore the functioning of the economy, are a first case of this transformation. The industrialization process, through the incorporation of increasing returns to scale in different sectors, and the introduction of service activities are other examples. Another form to represent structural change is the change of the values of the variables that characterize the state space of an economic system. This research article is an effort to put together and compare, from the complexity approach, different approaches for structural change and dynamics of economic systems. We start by briefly presenting the complexity approach in general and in economics. Then, we put forward three approaches highlighting structural change.

Long-range dependence in the volatility of returns in Uruguayan sovereign debt indices

“…, we obtain that if H ∈ ( 1 2 , 1) then α ∈ (0, 1). This concludes that the fractional Brownian motion presents long-range dependence when H > 1 2 . Theorem 2.3 establishes a foundation of focusing on the problems associated with the complexity in financial series related to long-range dependence.…”

“…Some of these approaches are established within the theoretical framework of economic complexity. Relevant work in economic complexity are [1], [3] and [31]. This paper uses fractional calculus because it is the natural generalization of the property called long-range dependence in the models.…”

Vulnerabilidad del sistema de abasto popular alimentario ante la contingencia sanitaria por covid-19

“…Ante las diversas injusticias cometidas por los desarrolladores, como lo refleja el documental de Alatriste (1970), comenzaron a surgir organizaciones de colonos con un fin común: la legitimación de sus terrenos, hecho que escaló a la Suprema Corte de Justicia y la creación de un fideicomiso por el gobierno federal 4 para regularizar la propiedad y afrontar los costos de urbanización. Por su parte, el gobierno estatal constituyó el municipio de Nezahualcóyotl el 3 de abril de 1963de (Ocotitla, 2000.…”

Route to Chaos in Discrete Two-dimensional Maps with Hyperbolic Double-well Potentials

“…In this last context, the ϕ 4 potential stands for the Ginzburg-Landau energy functional, whose two degenerate minima separated by a potential barrier are assumed to mimic orderings of atoms/molecules in crystals with an inversion (or point) symmetry [15,16]. However, the applicability of the ϕ 4 potential goes beyond second-order phase transitions in 1D crystals, in fact, the ϕ 4 model is a paradigm for bistable systems which can be found in biophysics [17,18], chemistry [18], economy [18,19], population dynamics [18], and so on.…”