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QUALITATIVE ANALYSIS OF THE INFLUENCE OF BUSINESS CYCLES ON ECONOMIC GROWTH. DEDICATED TO THE 125TH ANNIVERSARY OF THE BIRTH OF JOSEPH SCHUMPER (1883-1950)
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QUALITATIVE ANALYSIS OF THE INFLUENCE OF BUSINESS CYCLES ON ECONOMIC GROWTH. DEDICATED TO THE 125TH ANNIVERSARY OF THE BIRTH OF JOSEPH SCHUMPER (1883-1950)
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
Askar Akayev 
ORCID: 0000-0001-8158-0171
Edition
Issue №3
Pages
64-77
Abstract
It is given the qualitative analysis of differential equations' solution describing the cyclical changes of business activity and economic growth, system stability is investigated. Bifurcation point is estimated where the system loses stability and becomes susceptible to structural changes and innovations. The result of bifurcation is presence of self-sustained persistent auto oscillation in the system. It is shown that in conditions of fluctuation equilibrium levels have been changing, that defines rising economic growth. Mechanism of short-term cyclical changes' influence on formation of long-term economic growth’s locus is educed.
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Date of publication
01.07.2009
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785
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