Some Approaches to the Accounting and Analysis of the Impact of Scientific and Technological Progress in the Harrod-Domar Economic Growth Model
The paper presents methods for the accounting of autonomous and induced scientific and technological progress in the Harrod-Domar model of economic dynamics that imply determining the incremental capital/output ratio of the model in the form of special functions of time. As part of the received...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
PH "INZHEK"
2016-11-01
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| Series: | Problemi Ekonomiki |
| Subjects: | |
| Online Access: | http://www.problecon.com/export_pdf/problems-of-economy-2016-4_0-pages-238_243.pdf |
| Summary: | The paper presents methods for the accounting of autonomous and induced
scientific and technological progress in the Harrod-Domar model of economic
dynamics that imply determining the incremental capital/output ratio of
the model in the form of special functions of time. As part of the received
version of the Harrod-Domar model, on the basis of conditional data there
conducted a numerical study of some aspects of the impact of parameters
of scientific and technological progress and the initial state of the economy
being modeled on peculiarities of corresponding trajectories of its dynamics.
A simple economic and mathematical problem of determining an optimal
value of investments in the implementation of the induced STP is formulated,
and content interpretation of the obtained solution is carried out. Possible
directions of development of the obtained results may be associated with
the application of the proposed modification of the Harrod-Domar model
to build and analyze mathematical models of optimal economic growth in
view of the induced STP, as well as with the prospective use of these results
to improve dynamic models of the Leontief type in terms of considering
innovation processes (scientific and technical progress of various kinds). |
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| ISSN: | 2222-0712 2311-1186 |