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Теория Эндогенного Экономического Роста И Уравнения Математической Физики
[The theory of endogenous economic growth and equations of mathematical physics]

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  • Polterovich, Victor

Abstract

It is given an overview of recent studies that use equations of mathematical physics, their analogs and modifications for describing endogenous evolution of technologies. A master equation is proposed that includes, as special cases, a number of known models of Schumpeterian dynamics. A scheme for constructing multifactorial models of endogenous growth is also proposed, based on a combination of different imitation rules for different performance indicators. Directions for further research are outlined.

Suggested Citation

  • Polterovich, Victor, 2017. "Теория Эндогенного Экономического Роста И Уравнения Математической Физики [The theory of endogenous economic growth and equations of mathematical physics]," MPRA Paper 78622, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:78622
    as

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    References listed on IDEAS

    as
    1. , & Lorenz, Jan & ,, 2016. "Innovation vs. imitation and the evolution of productivity distributions," Theoretical Economics, Econometric Society, vol. 11(3), September.
    2. Henkin, Gennadi M. & Polterovich, Victor M., 1991. "Schumpeterian dynamics as a non-linear wave theory," Journal of Mathematical Economics, Elsevier, vol. 20(6), pages 551-590.
    3. Robert E. Lucas Jr. & Benjamin Moll, 2014. "Knowledge Growth and the Allocation of Time," Journal of Political Economy, University of Chicago Press, vol. 122(1), pages 1-51.
    4. Acemoglu, Daron & Cao, Dan, 2015. "Innovation by entrants and incumbents," Journal of Economic Theory, Elsevier, vol. 157(C), pages 255-294.
    5. Erzo G. J. Luttmer, 2012. "Eventually, noise and imitation implies balanced growth," Working Papers 699, Federal Reserve Bank of Minneapolis.
    6. Polterovich, Victor & Henkin, Gennadi, 1989. "An Evolutionary Model with Interaction between Development and Adoption of New Technologies," MPRA Paper 22555, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Schumpeterian dynamics; imitation; innovation; Burgers equation; Boltzmann equation; Kolmogorov-Petrovsky-Piskunov equation;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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