15th Triennial World Congress of the International Federation of Automatic Control
  Barcelona, 21–26 July 2002 
OPTIMAL TRENDS IN MODELS OF ECONOMIC GROWTH
A.M. Tarasyev*,***, C. Watanabe**,***
* Institute of Mathematics and Mechanics UrB of RAS,
S. Kovalevskaya str. 16, Ekaterinburg 620219, Russia
e-mail: tam@imm.uran.ru
** Tokyo Institute of Technology,
2-12-1 Ookayma Meguro-ku, 152 Tokyo, Japan
e-mail: chihiro@me.titech.ac.jp
*** International Institute for Applied Systems Analysis (IIASA),
A-2361 Laxenburg, Austria

The objective of this work is to design control strategies which optimize composition of production, technology stock and their rates in a nonlinear model of economic growth. The optimal control problem of technology investment is formulated for a discounted utility function which correlates the amount of sales and production diversity. The maximum principle of Pontryagin is applied for designing optimal nonlinear dynamics. Quasioptimal feedbacks of the rational type for balancing the dynamical system are constructed. Properties of techno-economic trajectories are examined for different tangent slopes generated by technology intensities. These properties correspond to the trends of economic growth intrinsic to econometric data.
Keywords: Economic growth, control synthesis, econometric trends
Session slot T-Th-E14: Control Applications of Optimisation/Area code 2d : Optimal Control