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The Golden Growth Law in Economic Process

  • feng dai

    (Zhengzhou Information Engineering University, CHINA)

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Based on the partial distribution1 and the developower (development power) 2, this paper puts forward the golden growth law in economic process for the first time. The law describes the optimal relation between the economic investment and the economic growth, and could be taken as a basis to distinguish that the economic process is higher in developing efficiency or not. A series of important constants in economy are obtained on the golden growth law, like the coefficient of golden growth and the increment contribution of developower in economic growth. These coefficients can reflect some of key number relations among the economic growth. Also in this paper, the programming and managing models for economic growth are given on the economic structure. We can use them as the tools to analyze and control the macroeconomic growth in analytic way. Finally, by the empirical researches, the golden growth law is explained to be existent and effective, the programming model for economic structure are proved to be useful to make decision in macroeconomic management.

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Paper provided by EconWPA in its series Development and Comp Systems with number 0511014.

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Length: 21 pages
Date of creation: 15 Nov 2005
Date of revision:
Handle: RePEc:wpa:wuwpdc:0511014
Note: Type of Document - pdf; pages: 21
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  1. P. Guillaumont & L. Chauvet, 2001. "Aid and Performance: A Reassessment," Journal of Development Studies, Taylor & Francis Journals, vol. 37(6), pages 66-92.
  2. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  3. Plosser, C.I., 1989. "Understanding Real Business Cycles," RCER Working Papers 198, University of Rochester - Center for Economic Research (RCER).
  4. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  5. Paul Collier & David Dollar, 2004. "Development effectiveness: what have we learnt?," Economic Journal, Royal Economic Society, vol. 114(496), pages F244-F271, 06.
  6. Feng Dai & Bao- hua Sun & Jie Sun, 2004. "Derivative Process Model of Development Power in Industry: Empirical Research and Forecast for Chinese Software Industry and US Economy," Macroeconomics 0405025, EconWPA, revised 07 Jun 2004.
  7. Horrace, William C., 2005. "Some results on the multivariate truncated normal distribution," Journal of Multivariate Analysis, Elsevier, vol. 94(1), pages 209-221, May.
  8. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
  9. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
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