scholarly journals Technology progress implementation based on a modified version of R.M. Solow economic growth model: with production s-curve consisting of n-steps

2021 ◽  
pp. 99-109
Author(s):  
Alexey Lopatin
Keyword(s):  
Economic Growth ◽  
Life Cycle ◽  
Comparative Analysis ◽  
Production Function ◽  
Growth Model ◽  
Technological Progress ◽  
Large Time ◽  
Time Interval ◽  
Economic Growth Model ◽  
S Curve

The comparative analysis of the neoclassical Solow’s model and the modified Solow’s model in the implementation of technological progress has shown undeniable advantages of the modified Solow’s model. A modified version of the Solow’s economic growth model, based on an n-step production function in the form of n S-shaped functions for the implementation of technological progress, ensures the growth of the economy on a sufficiently large time interval comparable to the duration of the life cycle of the economy under study. In this interval, referred to as the “technology gap”, intensive output y (t) can be carried out according to the following options: monotonic decrease (stable 1-cycle) of the considered model; oscillations (stable n-cycles, n=2,4,16,…), “the economy marks time”; chaotic fluctuations. This result for the models of economic growth has not been described in the literature.

scholarly journals MODEL PERTUMBUHAN EKONOMI ANTAR KELOMPOK DAN SIMULASINYA

2009 ◽  
Vol 8 (1) ◽  
pp. 67
Author(s):  
A. L. HERLIANI ◽  
E. H. NUGRAHANI ◽  
D. C. LESMANA
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Production Function ◽  
Growth Model ◽  
The Other ◽  
Distribution Model ◽  
Capital Productivity ◽  
Economic Growth Model ◽  
Total Capital ◽  
Primary Variable

Domar’s economic growth model only considers capital as primary variable for production function. On the other hand, Solow’s economic growth model has added the labor as variable in the production function. The aim of this paper is to study distribution model of economic growth among groups in two regions proposed by Zhang (2005). This model considers human capital productivity as one of parameters of the production function. It has been shown that the dynamical system has a unique equilibrium. Therefore, the changes of human capital and propensity to save will influence total capital stocks and capital stocks in each group. Analytically, it is found that an increase in human capital and propensity to save will increase total capital stocks and capital stocks in each group.

scholarly journals Econometric evaluation of the scientific and technical progress parameter in the innovative exogenous economic growth model

2020 ◽  
Vol 28 (1) ◽  
pp. 123-136
Author(s):  
Elena I. Lazareva ◽  
Daria S. Lozovitskaya
Keyword(s):  
Economic Growth ◽  
Growth Model ◽  
Technological Progress ◽  
Econometric Model ◽  
Innovative Activity ◽  
Economic Agents ◽  
Economic Growth Model ◽  
Regional Product ◽  
Econometric Approach ◽  
Development Trajectories

The article explores the problem of assessing the scientific and technological progress (STP) parameter in the exogenous economic growth model in the context of modern innovative digital transformation of the economy. The aim of the study is to develop and empirically verify an econometric model for an integrated assessment of the degree of economic agents’ innovative activity influence on the gross regional product. In accordance with the set goal, a methodologically triune (resource-management-resultant) approach to identifying the STP parameter and the corresponding system of economic agents’ innovative activity indicators of the factors are substantiated, an integral-estimated four-module economic mathematical model is proposed and tested. The results of the model testing make it possible to recommend an econometric approach for application in order to analyze and evaluate the scientific and technological progress parameter in innovative spatial economic development trajectories study.

scholarly journals An estimate of a smooth approximation of the production function for integrating Hamiltonian systems

2020 ◽  
Vol 12 (1) ◽  
pp. 91-115
Author(s):  
Александр Михайлович Тарасьев ◽  
Alexander Tarasyev ◽  
Анастасия Александровна Усова ◽  
Anastasiia Usova
Keyword(s):  
Economic Growth ◽  
Hamiltonian System ◽  
Production Function ◽  
Growth Models ◽  
Functional Dependence ◽  
Time Interval ◽  
Smooth Approximation ◽  
System A ◽  
Economic Growth Model ◽  
The One

In many applied control problems in economics, ecology, demography, and other areas, the relationship between dependent and independent main variables is determined statistically, which does not guarantee the smoothness of the model functional dependence. Particularly, in economic growth models, the production function describing the dependence of the output on the production factors is commonly supposed to be everywhere smooth; however, because of this constraint, qualitative parameters affecting the output cannot be included in the model. We propose an approach overcoming the requirement for the production function to be everywhere differentiable. The method is based on a smooth approximation of the production function, which is constructed in parallel with the integration of the Hamiltonian system. A differentiable approximation of the production function is derived by constructing an asymptotic observer of the state of an auxiliary system. It should be noted that the standard approach to the approximation of nonsmooth components of the model on a finite time interval may not work here, which implies the necessity to stabilize the Hamiltonian system on an infinite time interval. The theoretical results are supported by numerical experiments for the one-sector economic growth model.

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