Some Approaches to the Accounting and Analysis of the Impact of Scientific and Technological Progress in the Harrod-Domar Economic Growth Model

Dilenko Viktor O. () and Gulyaeva Natalia A.
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Dilenko Viktor O.: Odesa National Polytechnic University
Gulyaeva Natalia A.: Odesa National Polytechnic University

The Problems of Economy, 2016, issue 4, 238_243

Abstract: The paper presents methods for the accounting of autonomous and induced scientific and technological progress in the Harrod-Domar model of economic dynamics that imply determining the incremental capital/output ratio of the model in the form of special functions of time. As part of the received version of the Harrod-Domar model, on the basis of conditional data there conducted a numerical study of some aspects of the impact of parameters of scientific and technological progress and the initial state of the economy being modeled on peculiarities of corresponding trajectories of its dynamics. A simple economic and mathematical problem of determining an optimal value of investments in the implementation of the induced STP is formulated, and content interpretation of the obtained solution is carried out. Possible directions of development of the obtained results may be associated with the application of the proposed modification of the Harrod-Domar model to build and analyze mathematical models of optimal economic growth in view of the induced STP, as well as with the prospective use of these results to improve dynamic models of the Leontief type in terms of considering innovation processes (scientific and technical progress of various kinds).

Keywords: economic growth; Harrod-Domar model; scientific and technological progress; economic and mathematical analysis (search for similar items in EconPapers)
Date: 2016
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