Albu, Lucian-Liviu and Georgescu, George (1983): An attempt to quantify the economic system motion under the investment process incidence. Published in: Revista Economica No. 30 : pp. 23-26.
Download (111kB) | Preview
In this paper we proposed a model deriving from physics laws, which are associated to the investments impact upon the economic system potential. Defining several physics fundamental dimensions and starting from a series of assumptions, we tried to find their possible economic meaning and interpretation. The economic growth reflected in the system potential rise under the incidence of investments, could occur on three paths (extensive, structural and intensive), depending on main factors changes: the mass of fixed capital, the resources efficiency ratio and the velocity of GDP creation. Based on the proposed model, the optimum volume and structure of investments, according both to disposable resources and targeted economic development stage, could be assessed.
|Item Type:||MPRA Paper|
|Original Title:||An attempt to quantify the economic system motion under the investment process incidence|
|Keywords:||system potential; physics laws; mechanics fundamental dimensions; economic growth; investments; fixed capital; technical progress; efficiency ratio; business cycle|
|Subjects:||C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C10 - General
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E19 - Other
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General
|Depositing User:||Lucian Liviu Albu|
|Date Deposited:||24. Mar 2009 05:10|
|Last Modified:||31. Jan 2014 14:54|
Fedorenko, N. P. (1974): Optimal Functioning System for a Socialist Economy, Progress Publishers.
Georgescu-Roegen, N. (1971): The Entropy Law and the Economic Process, Harvard University Press.
Hutten, E. H. (1967): Ideas of Physics, Publisher: Edinburgh Oliver and Boyd, London.
Laue, M. von (1950): History of Physics, Academic Press, Berlin.
Perroux, F. (1965): Les Techniques Quantitatives de la Planification, Presses Universitaires de France, Paris.
Postolache, T. (1981): Restructurari in economia politica, Editura Politica, Bucuresti.
Prigogine, I. (1980): Phisique. Temps et devenir, Masson, Paris.
Stafford, G. B. (1981): The End of Economic Growth?, Blackwell Publishers, Oxford.