A NOVEL APPROACH TO CHARACTERIZING THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND ENERGY CONSUMPTION

• DOI: 10.15407/economyukr.2021.12.057
• Publication Date: 2021-12-16T09:53:21Z
• Authors: Danylo CHEREVATSKYI; Roman SMIRNOV
• Keywords: Relevance; Consumption; Empirical Research; Hamiltonian (control theory)

At the macroeconomic level, consumption of primary energy resources is a deterministic factor economic development, which justifies relevance and importance introducing an appropriate mathematical model.Using tools data-driven dynamical systems Hamiltonian mechanics, we determine relationship between costs distance traveled by particular national economy in space.The basis for calculations time series describing evolution cumulative GDP, recalculated according to original method from monetary units linear geometric dimensions, consumed over fixed period time.The mathematic relationships so obtained verified comparing model predictions with empirical data produced four economies, namely those Canada, Poland, Russia, Ukraine. In all cases demonstrated nearly perfect fit actual data.The approach via approximation evolutions performance parabolas proposed article lies groundwork developing general theory that may be employed analyze wide spectrum economies world regions.