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The development of science as the factor of economic growth

Marek Szydłowski 

Jagiellonian University (UJ), Kraków, Poland

Abstract

We study the connection between the development of science and economic growth. We show that there is a strict dependence of the rate of economic growth on the rate of growth of knowledge. To study this problem we use the methods of dynamical systems theory. If we use the new variables defined as original variables over effective labour, the economy reaches the stationary state. This long-term evolution of the economic system is represented by a global attractor in the phase space where the rate of economic growth is equal to the rate of growth of knowledge and the rate of growth of population.

 

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Related papers

Presentation: Oral at 2 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych", Plenary session, by Marek Szydłowski
See On-line Journal of 2 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych"

Submitted: 2005-12-20 16:48
Revised:   2009-06-07 00:44