Optimization of Resource Productivity as a Driver of Economic Growth

Tarasyev AM & Zhu B (2012). Optimization of Resource Productivity as a Driver of Economic Growth. Poster presentation, IIASA 40th Anniversary Conference, 24-26 October 2012, Laxenburg and Vienna, Austria

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Abstract

A dynamic optimization model of investment in improvement of the resource productivity index is analyzed for obtaining balanced economic growth trends including both the consumption index and natural resources use. The research is closely connected with the problem of shortages of natural resources stocks, the security of supply of energy and materials, and the environmental effectiveness of their consumption. The main idea of the model is to introduce an integrated environment for elaboration of a control policy for management of the investment process in development of basic production factors such as capital, energy and material consumption. An essential feature of the model is the possibility to invest in economy's dematerialization. Another important construction is connected with the price formation mechanism which presumes the rapid growth of prices on exhausting materials. The balance is formed in the consumption index which negatively depends on growing prices on materials. The optimal control problem for the investment process is posed and solved within the Pontryagin maximum principle. Specifically, the growth and decline trends of the Hamiltonian trajectories are examined for the optimal solution.

Item Type: Other
Research Programs: Advanced Systems Analysis (ASA)
Energy (ENE)
Bibliographic Reference: Poster presentation, IIASA 40th Anniversary Conference, 24-26 October 2012, Laxenburg and Vienna, Austria
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:47
Last Modified: 17 Feb 2016 12:33
URI: http://pure.iiasa.ac.at/10102

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