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Optimal Balanced Growth of the Open Three-Sector Economy

Author

Listed:
  • Kolemajev, Vladimir

Abstract

By using the Pontryagin maximum procedure the author has found an optimal dynamic rule for the distribution of labor, investment, and material resources between the sectors of the open three-sector economy according to the maximi-zation criterion of discounted marginal consumption

Suggested Citation

  • Kolemajev, Vladimir, 2008. "Optimal Balanced Growth of the Open Three-Sector Economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 11(3), pages 15-42.
    • Handle: RePEc:ris:apltrx:0123
    as

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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Hirofumi Uzawa, 1964. "Optimal Growth in a Two-Sector Model of Capital Accumulation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 31(1), pages 1-24.
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    More about this item

    Keywords

    three-sector economy; economic growth;

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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