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This article is cited in 1 scientific paper (total in 1 paper)
Applied mathematics
The global stability of the Schumpeterian dynamical system
A. N. Kirillov, A. M. Sazonov Institute of Applied Mathematical Research of the Karelian Research Centre, Russian Academy of Sciences, 11, Pushkinskaya ul., Petrozavodsk, 185910, Russian Federation
Abstract:
In this article, we present the studies that develop Schumpeter's theory of endogenous evolution of economic systems. An approach to modeling the limitation of economic growth due to the limitation of markets, resource bases and other factors is proposed. For this purpose, the concept of economic niche volume is introduced. The global stability of the equilibrium of the dynamical system with the Jacobi matrix having, at the equilibrium, all eigenvalues equal to zero, except one being negative, is proved. The proposed model makes it possible to evaluate and predict the dynamics of the development of firms in the economic sector.
Keywords:
dynamical systems, Schumpeterian dynamics, global stability.
Received: October 18, 2020 Accepted: October 23, 2020
Citation:
A. N. Kirillov, A. M. Sazonov, “The global stability of the Schumpeterian dynamical system”, Vestnik S.-Petersburg Univ. Ser. 10. Prikl. Mat. Inform. Prots. Upr., 16:4 (2020), 348–356
Linking options:
https://www.mathnet.ru/eng/vspui462 https://www.mathnet.ru/eng/vspui/v16/i4/p348
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Abstract page: | 125 | Full-text PDF : | 5 | References: | 13 | First page: | 12 |
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