BIED Growth Path Model
Some of the research we do at the BIED Society is building upon economic growth, economic development, and adding to the behavioral economic disciplines to name a few. Here is just one of the projects we are actively working on.
The BIED Growth Path Model
The Behavioral International Economic Development (BIED) Growth Path Model (GPM) allows for the grounded labeling of new economic phases. It is these newly labeled phases that can now be observed and the behavior of each can be analyzed. BIED Growth Paths and eventually BIED Growth Path Clusters are common outcomes from using this model. The insights from this model don't stop there, but begin with a wealth of new collections that help spark new perspecive. The Behavioral International Economic Development Growth Path Model uses Gross Domestic Product (GDP) as one indicator and Labor Occupations by Sector as a second indicator jointly to build a nine grid model that contributes new insight and theory into the young academic discipline of behavior economics, while bringing the academic disciplines of development economics and economic growth theory closer together.
The new BIED Growth Path Model contributes a new way of organizing, labeling, measuring, diagraming, and comparing different economic and demographic data that significantly increases understanding and appreciation of complex concepts. This utility method model can be used with other indicators to build relations and further develop and define status, trends, and groupings that could not be examined the same before. Accurate behavioral international economic development stages, paths, and clusters are now identifiable and measurable. Unlike the three and four category models from the United Nations, International Monetary Fund, and the World Bank, the BIED Growth Path model uses nine distinct classifications to get a more specific look into labor behavior which more clearly defines economic development.
The Behavioral International Economic Development Growth Path Model uses time to help evaluate movement of identified groups. This movement can provide unique perspective into the initial group, usually nation-states, but the model can be used for any group to help track, measure, and compare it's maturity. These new BIED Growth Paths are given labels to make it easy to identify other like paths. These like labeled BIED Growth Paths can then be studied and analyzed for a multitude of variables to help build understanding, depth, and promote predictability. While predictability is not the goal, it is a utility the policy world desires and is in need. The objective is to better understand behavior, predictibility will come over time.
Growth Path Clusters
The Behavioral International Economic Development Growth Path Clusters typically come from the third stage of coding. This newly labeled group provides a depth of knowledge that captures the BIED Economic Growth Stages, BIED Growth Paths, and eventually patterns start to form giving us new clusters to study. This group of clusters share many of the same behavior and we can benefit from identifying as many of these clusters as we can. The wealth of knowledge that can be realized from going through this model is exciting.