Drivers and impacts of economic growth: Modeling and control 

Advanced Systems Analysis (ASA) Program researchers develop and study stylized economic growth models and advance methods of the optimal control theory needed to analyze such models. Long-term economic growth is driven by the dynamics of natural, physical and human capital; an extended form of these models also includes feedback with the environment under uncertainty.

Long-term economic growth depends on the dynamics of production factors from natural to physical to human capital, as well as on other inputs, notably, the environmental feedback. The closer humanity approaches the planetary boundaries, the stronger the feedback of the environment becomes to human economic activity. This necessitates the development of new economic growth models capable of generating solutions related to green growth and sustainable development, taking into consideration, inter alia, nonlinear dynamic feedbacks and inherent uncertainties.

ASA has a long tradition of studying models of economic growth and of advancing corresponding methods of optimal control. 


Print this page

Last edited: 10 February 2016

CONTACT DETAILS

Elena Rovenskaya

Program Director

Advanced Systems Analysis

T +43(0) 2236 807 608

International Institute for Applied Systems Analysis (IIASA)
Schlossplatz 1, A-2361 Laxenburg, Austria
Phone: (+43 2236) 807 0 Fax:(+43 2236) 71 313