American Journal of Business and Society
Articles Information
American Journal of Business and Society, Vol.4, No.1, Mar. 2019, Pub. Date: May 27, 2019
Regression Analysis of Economic Key Indicators of the European Union Countries
Pages: 32-43 Views: 1322 Downloads: 276
Authors
[01] Lembo Tanning, Marcelius Trade Limited Liability Company, Tallinn, Estonia.
Abstract
The goal of the publication is to analyse economic key indicators until 2019. Here we will analyse the economy base indicators the European Union (EU) superpowers, of which directly depend on freight volumes. Knowledge of the regularities of economic key indicators changes allows predicting future changes and makes optimal business decisions. We look gross domestic product (GDP) and GDP per capita. The aim of the article is regression (mathematical) analysis herein GDP, of the EU superpowers countries, its theoretical bases and the regularities of these changes. We find the laws of these changes, mathematical models. This allows you to set their theoretical bases. The mathematical models of these changes are complicated polynomials. They show the stability of the economy and the prospects for the future. Countries with stable development have simple, even linear relations. In unstable countries, however, they are much more complex-high degree polynomials. All these economic models can be mathematically expressed as a high-precision, where correlation coefficient R2 were generally greater than 0.9. Very big R2 were of EU28 and EA19, and also in Germany and France. This shows that the EU economy and especially the German and French economies have developed relatively steadily, but still with small deviations. The UK, Italy and Spain R2 were much smaller and thus their polynomial curve more complicated. This shows greater instability in the economies of these countries compared to Germany and France. Taking into account this publication and the previous works of the author, is made the conclusions and suggestions on the development and future of these countries.
Keywords
Regression Analysis, Theoretical Bases of Changes Economy, GDP Analysis, European Union, Superpowers Countries
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