On the dynamics of knowledge-based economic growth

Y. Tsur, A. Zemel

    Research output: Contribution to journalArticlepeer-review

    2 Scopus citations


    A geometric approach to characterize the solutions of higher-dimensional dynamic optimization problems is applied to a model of knowledge-based economic growth. The characterization reveals a variety of growth patterns, ranging from sustained growth to stagnation. Growth processes exhibit a turnpike property, reaching as rapidly as possible the path along which human and physical capital are equally productive at the margin and evolving along it thereafter. Some growth processes display overshooting behavior and some are sensitive to threshold capital stocks.

    Original languageEnglish
    Pages (from-to)101-115
    Number of pages15
    JournalJournal of Optimization Theory and Applications
    Issue number1
    StatePublished - 1 Jan 2007


    • Bifurcations
    • Economic growth
    • Human capital
    • Optimal control
    • Overshooting
    • Turnpikes

    ASJC Scopus subject areas

    • Management Science and Operations Research
    • Control and Optimization
    • Applied Mathematics


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