RETRACTED ARTICLE: Prediction of economic growth by extreme learning approach based on science and technology transfer

The purpose of this research is to develop and apply the extreme learning machine (ELM) to forecast gross domestic product (GDP) growth rate. Economic growth may be developed on the basis on combination of different factors. In this investigation was analyzed the economic growth prediction based on...

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Bibliographic Details
Published inQuality & quantity Vol. 51; no. 3; pp. 1395 - 1401
Main Authors Karanikić, Petra, Mladenović, Igor, Sokolov-Mladenović, Svetlana, Alizamir, Meysam
Format Journal Article
LanguageEnglish
Published Dordrecht Springer Netherlands 01.05.2017
Springer
Subjects
Economic aspects
Economic growth
Intellectual property
Methodology of the Social Sciences
Neural networks
Social Sciences
GDP
Extreme learning machine
Economic growth
Forecasting
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Summary:The purpose of this research is to develop and apply the extreme learning machine (ELM) to forecast gross domestic product (GDP) growth rate. Economic growth may be developed on the basis on combination of different factors. In this investigation was analyzed the economic growth prediction based on the science and technology transfer. The main goal was to analyze the influence of number of granted European patents on the economic growth by field of technology. GDP was used as economic growth indicator. The ELM results are compared with genetic programming (GP) and artificial neural network (ANN). The reliability of the computational models were accessed based on simulation results and using several statistical indicators. Coefficient of determination for ELM method is 0.9841, for ANN method it is 0.7956 and for the GP method it is 0.7561. Based upon simulation results, it is demonstrated that ELM can be utilized effectively in applications of GDP forecasting.
ISSN:0033-5177
1573-7845
DOI:10.1007/s11135-016-0337-y