Discrete Dynamics in Nature and Society
Volume 2007 (2007), Article ID 89464, 13 pages
doi:10.1155/2007/89464
Research Article
A Discrete Two-Sector Economic Growth Model
College of Asia Pacific Management, Ritsumeikan Asia Pacific University, 1-1 Jumonjibaru, Beppu-Shi, Oita-ken 874-8577, Japan
Received 12 February 2006; Accepted 19 April 2006
Copyright © 2007 Wei-Bin Zhang. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters.