On Convergence in the Spatial AK Growth Models

Gani Aldashev; Serik Aldashev; Timoteo Carletti

On Convergence in the Spatial AK Growth Models

Gani Aldashev, Serik Aldashev, Timoteo Carletti

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Abstract

Recent research in economic theory attempts to study optimal economic growth
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.

Original language	English
Publisher	Namur center for complex systems
Number of pages	16
Volume	3
Edition	14
Publication status	Published - 19 Jan 2014

Publication series

Name	naXys Technical Report Series
Publisher	University of Namur
No.	2014
Volume	3

Keywords

Economic Growth
Convergence
Spatial Dynamics
Partial Differential Equations

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Aldashev_Aldashev_Carletti_Jan2014Submitted manuscript, 182 KB

1 Finished
2 Active

Dynamical systems analysis, modeling and simulation
Carletti, T., Fuzfa, A. & Lemaitre, A.
3/10/11 → …
Project: Research
Socio-economic models of opinion formation
Aldashev, G., Carletti, T. & RIGHI, S.
1/09/06 → …
Project: PHD
PAI n°P7/19 - DYSCO: Dynamical systems, control and optimization (DYSCO)
Winkin, J., Blondel, V., Vandewalle, J., Pintelon, R., Sepulchre, R., Vande Wouwer, A. & Sartenaer, A.
1/04/12 → 30/09/17
Project: Research

Cite this

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title = "On Convergence in the Spatial AK Growth Models",

abstract = "Recent research in economic theory attempts to study optimal economic growthand spatial location of economic activity in a uni{\"O}ed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speci{\"O}c assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this {\"O}nding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.",

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AU - Carletti, Timoteo

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N2 - Recent research in economic theory attempts to study optimal economic growthand spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.

AB - Recent research in economic theory attempts to study optimal economic growthand spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.

KW - Economic Growth

KW - Convergence

KW - Spatial Dynamics

KW - Partial Differential Equations

M3 - Other report

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T3 - naXys Technical Report Series

BT - On Convergence in the Spatial AK Growth Models

PB - Namur center for complex systems

ER -

On Convergence in the Spatial AK Growth Models

Abstract

Publication series

Keywords

UN SDGs

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Projects

Dynamical systems analysis, modeling and simulation

Socio-economic models of opinion formation

PAI n°P7/19 - DYSCO: Dynamical systems, control and optimization (DYSCO)

Cite this