Quantitative and qualitative growth analysis

DOI10.1016/S0960-0779(02)00671-9MaRDI QIDQ1433609zbMATH OpenOpenAlexFDO

Authors Åke E. Andersson

Publication date 1 July 2004

Published in Chaos, Solitons and Fractals (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/s0960-0779(02)00671-9

zbMATH Keywords

equilibrium and disequilibriumprofit expectationsquantitative and qualitative growth

Mathematics Subject Classification ID

Dynamical systems in optimization and economics (37N40) Economic growth models (91B62)

Review text

The author presents a simplified picture of quantitive and qualitative economic growth. In the present analysis the author uses an own model of equilibrium growth and a rate of interest required by the financial investors oriented to material and human capital investments of the traditional kind. Among those there are financial investors oriented to product research and development and requiring a much higher rate of interest of their financial investments. In an economy with no research and development investments there would be only the possibility of quantitative growth. For any other economy the equilibrium growth process would imply a combination of quantitative and qualitative growth. There has been a lot of arguments by researchers that a state development economy must necessarily be in a more or less permanent disequilibrium. This seems to be confusing the issue. Although each firm might experience typical signs of disequilibrium when products and projects fail or substantially exceed profit expectations, these individual fluctuations might very well average out in the economy as a whole, giving the growth of quality and quantity a dynamic growth equilibrium.

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Cites work

• Logical basis for information theory and probability theory
• On the Length of Programs for Computing Finite Binary Sequences

Cited in

(2)

• Retrieving seasonally adjusted quarterly growth rates from annual growth rates that are reported quarterly
• Recent results in growth analysis

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