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Lagrange-Hamilton Model For Control Affine Systems With Positive Homogeneous Cost

Author

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  • Lect. Voicu Iulica Ph. D
  • Assist. Talmaciu Iuliana Ph. D Student

Abstract

The world economy is tripolar today, being dominated by the USA, the EU and Japan. Nevertheless, we must not disregard that China, India or Russia have a large economic and human potential and they incisively entered the economic competition altogether. For the time being, these countries represent regional or zonal powers and they started to play a commanding role together with the beginning of the international economic life. Organizations such as WTO or the UN offer, there is no doubt about it, an important chance to increase the contribution of the multilateral commercial system to reduce poverty and accomplish the objectives of human development. On the other hand, the practice of interstate relations demands an increased attention to the development of international trade, because from a developing and stability factor it can become a cause of instability and thus a cause of economic stagnation. The increased and accentuated interdependence of countries grew the importance of their external trade, which practically became indispensable for the economic and social growth. Moreover, the increase of national incomes in external trade led to increased consumption and increased the demand for energy and raw materials. This fact led, on one hand, to the amplification of exports and on the other hand to the increase of GDP in the developed countries. Adopting an open, impartial, rule-based, predictable and non-discriminatory commercial system may create a global partnership for development and visibly improve the international economic environment that has been severely affected by the current economic crisis. Despite the present context, the Asian developing economies bring their support substantially for the exit of the world economy from the gravest post-war crisis.

Suggested Citation

  • Lect. Voicu Iulica Ph. D & Assist. Talmaciu Iuliana Ph. D Student, 2010. "Lagrange-Hamilton Model For Control Affine Systems With Positive Homogeneous Cost," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(38), pages 269-275, May.
  • Handle: RePEc:aio:aucsse:v:1:y:2010:i:6:p:269-275
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    More about this item

    Keywords

    globalization; economic potential; foreign commerce; financial crisis;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F01 - International Economics - - General - - - Global Outlook

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