Verification of multiplicative models of analysis and forecasting of innovative development on the example of the Chinese economy

The aim of this work is to verify a few of multiplicative models that can be used to analyze and predict the innovative development of macro-level economic systems. The theoretical basis of these models are, firstly, the Cobb-Douglas production function, and, secondly, the matrix of innovative development of Romanenko-Rumyantsev, which allows on the basis of the Cobb-Douglas production function to generate a set of equivalent multiplicative models with zero indecomposable Solow residue. The multiplicative models given in the paper contain the same initial indicators as the Cobb-Douglas production function, however, unlike the latter, they always provide an exact equality of the calculated value of the indicator to its actual value (the indecomposable Solow residue is always zero). Verification is performed on the example of indicators of China’s economy for 2000-2016.