Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)

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Exploring Economic Development Trends Through Entropy Analysis

Authors
Zhengjie Zang1, *
1Department of Business and Management, Monash University, Melbourne, 3168, Australia
*Corresponding author. Email: zzan0003@student.monash.edu
Corresponding Author
Zhengjie Zang
Available Online 28 September 2023.
DOI
10.2991/978-94-6463-260-6_16How to use a DOI?
Keywords
economy; entropy; industry; time-series
Abstract

This paper aims to explore the economic development trends by analyzing the potential information contained in entropy values. The study focuses on three industries and examines the timeline of entropy values to understand their development patterns. Initially, the GDP data of subsectors within the three industries are selected as the research objects. Entropy values for the GDP of these subsectors are then calculated for all available years, resulting in a time series of entropy values. The paper proceeds by analyzing the patterns of entropy values within a given year across different subsectors and within a given subsector across different years. The obtained results indicate the effectiveness of national economic policies, the narrowing differences within the first industry across regions, reflecting the determination to build a robust agricultural nation, and the increasing market competition in other industries. Additionally, the financial industry and wholesale and retail trade exhibit the highest market levels, indicating the continuous formation of strongholds in these two sectors.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
28 September 2023
ISBN
978-94-6463-260-6
ISSN
2352-5428
DOI
10.2991/978-94-6463-260-6_16How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Zhengjie Zang
PY  - 2023
DA  - 2023/09/28
TI  - Exploring Economic Development Trends Through Entropy Analysis
BT  - Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
PB  - Atlantis Press
SP  - 123
EP  - 130
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-260-6_16
DO  - 10.2991/978-94-6463-260-6_16
ID  - Zang2023
ER  -