Heterogeneous Growth Cycles

This paper focuses on the Dirichlet and Dirichlet-multinomial distributions to analyze one definition of cycle based three economic performance regimens: augmentation, stagnation diminution. We use data from 142 economies grouped in seven clusters during second half last century, a period which has witnessed various structural changes. Furthermore, this advances investigate what probabilities are reaching significant positive growth rates ⎯the frequency augmentation regimen⎯ prevailed decade 1950 1960, using Bayesian statistics.