| Stochastic Optimal Economic Growth Model with Natural Resources |
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| 引用本文： | ZHOU Shaobo HU Shigeng WANG Maofa. Stochastic Optimal Economic Growth Model with Natural Resources[J]. 武汉大学学报:自然科学英文版, 2006, 11(3): 511-514. DOI: 10.1007/BF02836654 |
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| 作者姓名： | ZHOU Shaobo HU Shigeng WANG Maofa |
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| 作者单位： | [1]Department of Mathematics, Huazhong University of Science and Technology, Wuhan 430074, Hubei, China [2]School of Mathematics and Statistics, Wuhan University, Wuhan 430074, Hubei, China |
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| 摘 要： | The paper examines an economic growth problem how social planners reasonably open up and retain natural resources. The objective is to maximize the total expected discounted utility of comsumption. Social planners＇ optimal decision and optimal expected rates at the steady state are derived. At last, how productivity and productivity shock affect on the expected growth rate, consumption-resources ratio and the fraction of exploited resources, are analyzed.
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| 关 键 词： | 自然资源 预期增长率 经济增长 经济数学 |
| 文章编号： | 1007-1202（2006）03-0511-04 |
| 收稿时间： | 2005-06-08 |
Stochastic optimal economic growth model with natural resources |
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| Zhou Shaobo,Hu Shigeng,Wang Maofa. Stochastic optimal economic growth model with natural resources[J]. Wuhan University Journal of Natural Sciences, 2006, 11(3): 511-514. DOI: 10.1007/BF02836654 |
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| Authors: | Zhou Shaobo Hu Shigeng Wang Maofa |
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| Affiliation: | (1) Department of Mathematics, Huazhong University of Science and Technology, 430074 Wuhan, Hubei, China;(2) School of Mathematics and Statistics, Wuhan University, 430074 Wuhan Hubei, China |
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| Abstract: | The paper examines an economic growth problem how social planners reasonably open up and retain natural resources. The objective is to maximize the total expected discounted utility of comsumption. Social planners' optimal devision and optimal expected rates at the steady state are derived. At last, how productivity and productivity shock affect on the expected growth rate, consumption-resources ratio and the fraction of exploited resources, are analyzed. Foundation item: Supported by the National Natural Science Foundation of China(10401027) Biography: ZHOU Shaobo(1971-), female, Ph. D. candadate, Lecturer, research direction: functional analysis and financial mathematics |
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| Keywords: | natural resources optimal portfolio expected growth rate |
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