Construction of nonlinear stabilizer for trajectories of economic growth

Ane, B.K., Tarasyev, A.M., & Watanabe, C. (2007). Construction of nonlinear stabilizer for trajectories of economic growth. Journal of Optimization Theory and Applications 143 (2) 303-320. 10.1007/s10957-007-9256-3.

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A dynamic model of optimization of R&D intensity is studied for analyzing the effect of the spillover technology assimilation on techno-economic growth. The research focuses on the the issue of a reasonable balance in the R&D investment policy between the indigenous technology stock and exogenous technology flow. On the basis of the concavity properties of the Hamiltonian, a nonlinear stabilizer sustaining proportional techno-economic growth is constructed. Trends of optimal R&D intensity are examined depending on the values of the model macroeconomic parameters and the feedback variables. Econometric analysis shows that additional investments and restructuring of these sources for knowledge absorption could have the effect of increasing returns and provide a strong leverage for reaching qualitatively higher levels of sales, technology development, and consumption index.

Item Type: Article
Uncontrolled Keywords: Maximum principle of Pontryagin; Hamiltonian systems; Nonlinear stabilizers; Economic growth; Optimal R&D intensity
Research Programs: Dynamic Systems (DYN)
Bibliographic Reference: Journal of Optimization Theory and Applications; 143(2):303-320 [2007]
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:39
Last Modified: 27 Aug 2021 17:38

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