Econophysics on Real Economy -The First Decade of the Kyoto Econophysics Group-

TL;DR

This paper reviews a decade of Kyoto Econophysics Group's research focusing on real economy, including data analysis, firm dynamics, and network modeling, highlighting their contributions to understanding economic systems through complex network analysis.

Contribution

It introduces novel analysis of firm and financial network dynamics using large-scale Japanese data, advancing econophysics applications in real economy modeling.

Findings

Established Pareto's law and Gibrat's law in firm growth

Analyzed firm dynamics on complex networks

Utilized large-scale Japanese economic network data

Abstract

Research activities of Kyoto Econophysics Group is reviewed. Strong emphasis has been placed on real economy. While the initial stage of research was a first high-definition data analysis on personal income, it soon progressed to firm dynamics, growth rate distribution and establishment of Pareto's law and Gibrat's law. It then led to analysis and simulation of firm dynamics on economic network. Currently it covers a wide rage of dynamics of firms and financial institutions on complex network, using Japanese large-scale network data, some of which are not available in other countries. Activities of this group for publicising and promoting understanding of econophysics is also reviewed.