Indicators of stability of the world economic system

Abstract

The state of the global economic system is described by a large number of parameters. It is interesting to find out whether it is possible to collapse these parameters into a single symbol (image, logograph) that would describe the state of the global economic system as a whole. A discrete dynamic model (DDM) was used to describe the global economic system. DDM states can be divided into unstable and stable. The degree of instability of the DDM can be used to assess the likelihood that the economic system would emerge from an unstable state. In turn, stable states are divided into stable points, stable cycles and strange attractors. It was discovered that stable states are characterized by areas of convergence that represent fractal formations. The unique nature of fractals encourages us to assess their usefulness and informative value when describing the state of the world economic system. In this work, we are trying to carry out such an assessment and formalize the characteristics of fractals in order to give a rough description of the states of the world economic system. To get input data, we used information on the rate of change in world GDP provided on the World Bank website as of June 29, 2023.