{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,18]],"date-time":"2026-03-18T17:31:52Z","timestamp":1773855112261,"version":"3.50.1"},"reference-count":116,"publisher":"World Scientific Pub Co Pte Ltd","issue":"01","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Int. J. Info. Tech. Dec. Mak."],"published-print":{"date-parts":[[2007,3]]},"abstract":"<jats:p>Artificial neural networks (ANNs) have been widely applied to finance and economic forecasting as a powerful modeling technique. By reviewing the related literature, we discuss the input variables, type of neural network models, performance comparisons for the prediction of foreign exchange rates, stock market index and economic growth. Economic fundamentals are important in driving exchange rates, stock market index price and economic growth. Most neural network inputs for exchange rate prediction are univariate, while those for stock market index prices and economic growth predictions are multivariate in most cases. There are mixed comparison results of forecasting performance between neural networks and other models. The reasons may be the difference of data, forecasting horizons, types of neural network models and so on. Prediction performance of neural networks can be improved by being integrated with other technologies. Nonlinear combining forecasting by neural networks also provides encouraging results.<\/jats:p>","DOI":"10.1142\/s021962200700237x","type":"journal-article","created":{"date-parts":[[2007,3,28]],"date-time":"2007-03-28T10:34:56Z","timestamp":1175078096000},"page":"113-140","source":"Crossref","is-referenced-by-count":85,"title":["NEURAL NETWORKS IN FINANCE AND ECONOMICS FORECASTING"],"prefix":"10.1142","volume":"06","author":[{"given":"WEI","family":"HUANG","sequence":"first","affiliation":[{"name":"Institute of Intelligent Management and Complex System, School of Management, Huazhong University of Science and Technology, WuHan, 430074, China"},{"name":"Department of Management Sciences, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong, China"}]},{"given":"KIN KEUNG","family":"LAI","sequence":"additional","affiliation":[{"name":"Department of Management Sciences, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong, China"},{"name":"College of Business Administration, Hunan University, Changsha 410082, China"}]},{"given":"YOSHITERU","family":"NAKAMORI","sequence":"additional","affiliation":[{"name":"School of Knowledge Science, Japan Advanced Institute of Science and Technology, 1-1, Asahidai, Ishikawa 923-1292, Japan"}]},{"given":"SHOUYANG","family":"WANG","sequence":"additional","affiliation":[{"name":"Institute of Systems Science, Academy of Mathematics and Systems Sciences, Chinese Academy of Sciences, Beijing 100080, China"},{"name":"College of Business Administration, Hunan University, Changsha 410082, China"}]},{"given":"LEAN","family":"YU","sequence":"additional","affiliation":[{"name":"Institute of Systems Science, Academy of Mathematics and Systems Sciences, Chinese Academy of Sciences, Beijing 100080, China"},{"name":"Department of Management Sciences, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong, China"}]}],"member":"219","published-online":{"date-parts":[[2011,11,20]]},"reference":[{"key":"rf1","first-page":"296","volume":"7","author":"Aiken M.","journal-title":"Industrial Management & Data Systems"},{"key":"rf2","doi-asserted-by":"publisher","DOI":"10.1016\/0169-2070(87)90078-1"},{"key":"rf3","doi-asserted-by":"crossref","DOI":"10.7551\/mitpress\/4943.001.0001","volume-title":"Neurocomputing: Foundations of Research","author":"Anderson J. A.","year":"1988"},{"key":"rf6","series-title":"Lecture Notes in Computer Science","doi-asserted-by":"crossref","first-page":"203","DOI":"10.1007\/978-3-540-45080-1_28","volume":"2690","author":"Ao S. I.","year":"2003"},{"key":"rf7","doi-asserted-by":"publisher","DOI":"10.1016\/j.ins.2003.03.023"},{"key":"rf8","doi-asserted-by":"publisher","DOI":"10.1057\/jors.1969.103"},{"key":"rf9","doi-asserted-by":"publisher","DOI":"10.2307\/2109358"},{"key":"rf10","doi-asserted-by":"publisher","DOI":"10.1016\/0304-4076(92)90064-X"},{"key":"rf11","first-page":"39","volume":"29","author":"Borisov A. N.","journal-title":"Automatic Control and Computer Sciences"},{"key":"rf13","doi-asserted-by":"publisher","DOI":"10.1080\/096031096334105"},{"key":"rf14","first-page":"905","author":"Campbell J. Y.","journal-title":"Quarterly Journal of Economics"},{"key":"rf15","doi-asserted-by":"publisher","DOI":"10.1002\/(SICI)1099-131X(199604)15:3<155::AID-FOR616>3.0.CO;2-Z"},{"key":"rf16","doi-asserted-by":"publisher","DOI":"10.1108\/03074350010767034"},{"key":"rf17","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1991.tb02673.x"},{"key":"rf18","doi-asserted-by":"publisher","DOI":"10.1016\/S0305-0548(02)00037-0"},{"key":"rf19","doi-asserted-by":"publisher","DOI":"10.1007\/BF01739197"},{"key":"rf20","doi-asserted-by":"publisher","DOI":"10.1016\/0261-5606(91)90036-J"},{"key":"rf21","doi-asserted-by":"publisher","DOI":"10.1016\/0304-405X(92)90005-I"},{"key":"rf22","doi-asserted-by":"publisher","DOI":"10.2307\/2118388"},{"key":"rf23","doi-asserted-by":"publisher","DOI":"10.1002\/isaf.200"},{"key":"rf25","doi-asserted-by":"publisher","DOI":"10.1016\/0022-1996(90)90006-8"},{"key":"rf26","doi-asserted-by":"publisher","DOI":"10.1016\/S0016-0032(98)00018-0"},{"key":"rf27","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/9.2.333"},{"key":"rf28","doi-asserted-by":"publisher","DOI":"10.1016\/S1042-444X(97)00018-2"},{"key":"rf29","doi-asserted-by":"publisher","DOI":"10.1016\/S1057-5219(99)00006-X"},{"key":"rf30","doi-asserted-by":"publisher","DOI":"10.1016\/0022-1996(94)90062-0"},{"key":"rf31","first-page":"689","volume":"80","author":"Engel C. M.","journal-title":"American Economic Review"},{"key":"rf32","doi-asserted-by":"publisher","DOI":"10.1007\/BF01414877"},{"key":"rf33","doi-asserted-by":"publisher","DOI":"10.1287\/inte.31.4.112.9662"},{"key":"rf34","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1992.tb04398.x"},{"key":"rf35","doi-asserted-by":"publisher","DOI":"10.1016\/0304-405X(93)90023-5"},{"key":"rf36","doi-asserted-by":"publisher","DOI":"10.1002\/fut.3990140205"},{"key":"rf37","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1996.tb02690.x"},{"key":"rf38","first-page":"1","volume":"58","author":"Friedman M.","journal-title":"American Economic Review"},{"key":"rf39","first-page":"831","volume":"81","author":"Froot K. A.","journal-title":"American Economic Review"},{"key":"rf40","author":"Galbraith J. W.","journal-title":"Journal of International Money and Finance"},{"key":"rf41","first-page":"101","volume":"16","author":"Gandolfo G.","journal-title":"Eastern Economic Journal"},{"key":"rf42","first-page":"92","volume":"14","author":"Gandolfo G.","journal-title":"Journal of Banking and Finance"},{"key":"rf43","doi-asserted-by":"publisher","DOI":"10.1016\/0925-2312(95)00137-9"},{"key":"rf44","volume-title":"Neurocomputing","author":"Hecht-Nielsen R.","year":"1990"},{"key":"rf45","volume-title":"Introduction to the Theory of Neural Computation","author":"Hertz J.","year":"1991"},{"key":"rf46","first-page":"1639","volume":"49","author":"Hiemstra C.","journal-title":"Journal of Finance"},{"key":"rf48","doi-asserted-by":"publisher","DOI":"10.1016\/S0893-6080(09)80018-X"},{"key":"rf49","doi-asserted-by":"publisher","DOI":"10.1016\/0893-6080(89)90020-8"},{"key":"rf50","doi-asserted-by":"crossref","first-page":"307","DOI":"10.1080\/07350015.1989.10509740","volume":"7","author":"Hsieh D. A.","journal-title":"Journal of Business and Economic Statistics"},{"key":"rf51","doi-asserted-by":"publisher","DOI":"10.1016\/0022-1996(88)90025-6"},{"key":"rf52","first-page":"329","volume":"62","author":"Hsieh D. A.","journal-title":"Journal of Business"},{"key":"rf53","doi-asserted-by":"publisher","DOI":"10.1016\/S1042-4431(99)00015-3"},{"key":"rf54","doi-asserted-by":"publisher","DOI":"10.1142\/S0219622004000969"},{"key":"rf55","doi-asserted-by":"publisher","DOI":"10.1016\/j.cor.2004.03.016"},{"key":"rf56","series-title":"Lecture Notes in Computer Science","doi-asserted-by":"crossref","first-page":"879","DOI":"10.1007\/11427445_141","volume":"3497","author":"Huang W.","year":"2005"},{"key":"rf57","doi-asserted-by":"publisher","DOI":"10.1002\/ijfe.156"},{"key":"rf58","doi-asserted-by":"publisher","DOI":"10.1016\/S1059-0560(01)00092-2"},{"key":"rf59","volume-title":"Time Series","author":"Kendall S. M.","year":"1990"},{"key":"rf60","doi-asserted-by":"publisher","DOI":"10.1002\/isaf.252"},{"key":"rf61","doi-asserted-by":"publisher","DOI":"10.1016\/S0169-2070(98)00003-X"},{"key":"rf62","doi-asserted-by":"publisher","DOI":"10.1002\/(SICI)1099-1174(199703)6:1<11::AID-ISAF115>3.0.CO;2-3"},{"key":"rf63","doi-asserted-by":"publisher","DOI":"10.1002\/jae.3950100403"},{"key":"rf64","doi-asserted-by":"publisher","DOI":"10.1016\/S0165-0114(98)00399-6"},{"key":"rf65","series-title":"LNAI","first-page":"243","volume":"3327","author":"Lai K. K.","year":"2004"},{"key":"rf66","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1994.tb04772.x"},{"key":"rf67","volume-title":"Introduction to Neural Networks","author":"Lawrence J.","year":"1991"},{"key":"rf68","first-page":"69","volume":"30","author":"Leigh W.","journal-title":"International Journal of Management Science"},{"key":"rf69","doi-asserted-by":"publisher","DOI":"10.1016\/S0167-9236(01)00121-X"},{"key":"rf70","doi-asserted-by":"publisher","DOI":"10.1016\/j.eswa.2004.08.001"},{"key":"rf71","doi-asserted-by":"publisher","DOI":"10.1016\/S0305-0548(99)00144-6"},{"key":"rf72","doi-asserted-by":"publisher","DOI":"10.1016\/S0169-2070(99)00048-5"},{"key":"rf73","doi-asserted-by":"publisher","DOI":"10.1016\/S0167-9473(98)00067-X"},{"key":"rf74","doi-asserted-by":"publisher","DOI":"10.1093\/rfs\/1.1.41"},{"key":"rf75","doi-asserted-by":"publisher","DOI":"10.1080\/07474939408800276"},{"key":"rf76","volume-title":"Neural Networks in Finance","author":"McNelis P. D.","year":"2004"},{"key":"rf77","first-page":"601","volume":"58","author":"Meese R. A.","journal-title":"Review of Economic Studies"},{"key":"rf78","doi-asserted-by":"publisher","DOI":"10.1016\/0022-1996(83)90017-X"},{"key":"rf79","volume-title":"Exchange Rates and International Economics","author":"Meese R. A.","year":"1983"},{"key":"rf80","doi-asserted-by":"publisher","DOI":"10.1002\/jae.3950070511"},{"key":"rf81","first-page":"21","volume":"78","author":"Morgan D. P.","journal-title":"Federal Reserve Bank of Kansas City Economic Review"},{"key":"rf82","doi-asserted-by":"publisher","DOI":"10.1002\/(SICI)1099-131X(200004)19:3<201::AID-FOR753>3.0.CO;2-4"},{"key":"rf83","doi-asserted-by":"publisher","DOI":"10.1023\/A:1008752024721"},{"key":"rf84","doi-asserted-by":"publisher","DOI":"10.1002\/(SICI)1099-1174(199809)7:3<187::AID-ISAF144>3.0.CO;2-7"},{"key":"rf85","doi-asserted-by":"publisher","DOI":"10.1007\/BF01180676"},{"key":"rf86","doi-asserted-by":"publisher","DOI":"10.1016\/S0169-2070(01)00092-9"},{"key":"rf87","doi-asserted-by":"publisher","DOI":"10.1016\/S0927-5398(03)00008-2"},{"key":"rf88","doi-asserted-by":"publisher","DOI":"10.1016\/0893-6080(94)90030-2"},{"key":"rf89","doi-asserted-by":"publisher","DOI":"10.2307\/2552350"},{"key":"rf90","doi-asserted-by":"publisher","DOI":"10.1016\/0164-0704(95)80089-1"},{"key":"rf91","doi-asserted-by":"crossref","DOI":"10.7551\/mitpress\/5236.001.0001","volume-title":"Parallel Distributed Processing, Explorations in the Microstructure of Cognition, Volume 1: Foundations","author":"Rumelhart D. E.","year":"1986"},{"key":"rf92","doi-asserted-by":"publisher","DOI":"10.11130\/jei.1995.10.3.335"},{"key":"rf93","doi-asserted-by":"publisher","DOI":"10.1002\/for.3980140305"},{"key":"rf94","first-page":"373","volume":"8","author":"Schinasi G. J.","journal-title":"Journal of International Money and Finance"},{"key":"rf96","doi-asserted-by":"publisher","DOI":"10.1016\/S0957-4174(00)00008-7"},{"key":"rf97","doi-asserted-by":"publisher","DOI":"10.1109\/5326.897083"},{"key":"rf98","doi-asserted-by":"publisher","DOI":"10.1080\/096031099332032"},{"key":"rf99","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1986.tb04519.x"},{"key":"rf100","doi-asserted-by":"publisher","DOI":"10.1080\/088395196118434"},{"key":"rf101","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6288.1994.tb00818.x"},{"key":"rf102","doi-asserted-by":"publisher","DOI":"10.1002\/for.3980130206"},{"key":"rf103","doi-asserted-by":"publisher","DOI":"10.1016\/S0169-2070(00)00063-7"},{"key":"rf104","doi-asserted-by":"publisher","DOI":"10.1007\/978-1-4615-6099-9_64"},{"key":"rf105","doi-asserted-by":"publisher","DOI":"10.1016\/S0895-7177(98)00090-9"},{"key":"rf106","doi-asserted-by":"publisher","DOI":"10.1016\/S0167-9236(98)00028-1"},{"key":"rf108","doi-asserted-by":"publisher","DOI":"10.1016\/S0957-4174(99)00016-0"},{"key":"rf109","doi-asserted-by":"publisher","DOI":"10.1007\/BF01299778"},{"key":"rf110","first-page":"10","volume":"7","author":"Waite T.","journal-title":"Programmer's Journal"},{"key":"rf111","unstructured":"S.\u00a0Walczak, A.\u00a0Tahai and K.\u00a0Karim, Applications of Fuzzy Sets and the Theory of Evidence to Accounting II, eds. P.\u00a0Siegel (JAI Press, Stamford, CN, 1998)\u00a0pp. 293\u2013310."},{"key":"rf112","volume-title":"Advanced Methods in Neural Computing","author":"Wasserman P.","year":"1993"},{"key":"rf113","volume-title":"Neural Computing: Theory and Practice","author":"Wasserman P. D.","year":"1989"},{"key":"rf114","unstructured":"A. S.\u00a0Weigend, B. A.\u00a0Huberman and D. E.\u00a0Rumelhart, Nonlinear Modeling and Forecasting, eds. M.\u00a0Casdagli and S.\u00a0Eubank (Addison-Wesley, Redwood City, CA, 1992)\u00a0pp. 395\u2013432."},{"key":"rf115","doi-asserted-by":"publisher","DOI":"10.1016\/S0378-7206(98)00050-0"},{"key":"rf116","doi-asserted-by":"publisher","DOI":"10.1023\/A:1010012728229"},{"key":"rf117","doi-asserted-by":"publisher","DOI":"10.1016\/j.cor.2004.06.024"},{"key":"rf118","series-title":"LNCS","first-page":"523","volume":"3516","author":"Yu L. A.","year":"2005"},{"key":"rf119","series-title":"LNCS","first-page":"443","volume":"3827","author":"Yu L. A.","year":"2005"},{"key":"rf120","series-title":"Lecture Notes in Computer Science","doi-asserted-by":"crossref","first-page":"605","DOI":"10.1007\/11427445_99","volume":"3497","author":"Zhang H.","year":"2005"},{"key":"rf121","first-page":"495","volume":"26","author":"Zhang G.","journal-title":"Journal of Management Science"},{"key":"rf122","doi-asserted-by":"publisher","DOI":"10.1016\/S0169-2070(97)00044-7"},{"key":"rf123","unstructured":"X.\u00a0Zhang and J.\u00a0Hutchinson, Time Series Prediction: Forecasting the Future and Understanding the Past, eds. A. S.\u00a0Weigend and N. A.\u00a0Gershenfeld (Addition-Wesley, Reading, MA, 1994)\u00a0pp. 219\u2013241."}],"container-title":["International Journal of Information Technology &amp; Decision Making"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S021962200700237X","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,1,15]],"date-time":"2025-01-15T07:37:36Z","timestamp":1736926656000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/abs\/10.1142\/S021962200700237X"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2007,3]]},"references-count":116,"journal-issue":{"issue":"01","published-online":{"date-parts":[[2011,11,20]]},"published-print":{"date-parts":[[2007,3]]}},"alternative-id":["10.1142\/S021962200700237X"],"URL":"https:\/\/doi.org\/10.1142\/s021962200700237x","relation":{},"ISSN":["0219-6220","1793-6845"],"issn-type":[{"value":"0219-6220","type":"print"},{"value":"1793-6845","type":"electronic"}],"subject":[],"published":{"date-parts":[[2007,3]]}}}