AGRICULTURAL PRODUCTIVITY AND CHAOTIC ECONOMIC GROWTH.
Keywords:
Agricultural Productivity, Economic Growth, Stability, ChaosAbstract
The basic aim of this paper is to set up a relatively simple agricultural growth model that is capable of generating stable equilibria, cycles, or chaos depending on parmeter values . A key hypothesis of this work is based on the idea that the coefficient π = β / (β-α) plays a crucial role in explaining local economic stability , where α – the coefficient of marginal agricultural labour productivity ; β – the coefficient of average agricultural labour productivity.
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Copyright (c) 2014 Vesna D. Jablanovic (Author)
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