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Construction of Nonlinear Stabilizer for Trajectories of Economic Growth

Author

Listed:
  • B. K. Ane

    (Tokyo Institute of Technology)

  • A. M. Tarasyev

    (Institute of Mathematics and Mechanics
    International Institute for Applied Systems Analysis)

  • C. Watanabe

    (Tokyo Institute of Technology)

Abstract

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 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.

Suggested Citation

  • B. K. Ane & A. M. Tarasyev & C. Watanabe, 2007. "Construction of Nonlinear Stabilizer for Trajectories of Economic Growth," Journal of Optimization Theory and Applications, Springer, vol. 134(2), pages 303-320, August.
    • Handle: RePEc:spr:joptap:v:134:y:2007:i:2:d:10.1007_s10957-007-9256-3
    DOI: 10.1007/s10957-007-9256-3
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    References listed on IDEAS

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    1. G. Feichtinger & F. Wirl, 2000. "Instabilities in Concave, Dynamic, Economic Optimization," Journal of Optimization Theory and Applications, Springer, vol. 107(2), pages 275-286, November.
    2. S.A. Reshmin & A.M. Tarasyev & C. Watanabe, 2002. "Optimal Trajectories of the Innovation Process and Their Matching with Econometric Data," Journal of Optimization Theory and Applications, Springer, vol. 112(3), pages 639-655, March.
    3. A.M. Tarasyev, 1999. "Control synthesis in grid schemesfor Hamilton‐Jacobi equations," Annals of Operations Research, Springer, vol. 88(0), pages 337-359, January.
    4. A. M. Tarasyev & C. Watanabe, 2001. "Optimal Dynamics of Innovation in Models of Economic Growth," Journal of Optimization Theory and Applications, Springer, vol. 108(1), pages 175-203, January.
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    Cited by:

    1. Vu Thi Huong & Jen-Chih Yao & Nguyen Dong Yen, 2017. "On the Stability and Solution Sensitivity of a Consumer Problem," Journal of Optimization Theory and Applications, Springer, vol. 175(2), pages 567-589, November.
    2. Aleksandr Tarasyev & Ilya Krivenko & Maria Pecherkina & Tatiana Kashina, 2016. "Simulation of the Investment Attractiveness of Science in a Region," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 303-314.

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