Global
Economic Growth and Optimization

The interdisciplinary Global Economic Growth and Optimization project focuses on identifying the drivers of economic growth and analyzing their interactions. Using systems analysis tools in the framework of both theoretical and empirical models, the project will develop methods to examine the interactions of the economic drivers.

The resulting models will be used for income growth prediction and to evaluate and quantify policy measures. This comprehensive analysis is expected to provide credible scenarios of economic growth and to outline measures for reaching trajectories of sustainable development.

From a methodological viewpoint, the project will rely on the use of dynamic optimization tools, modern model calibration techniques, and econometric prediction methods under model uncertainty. The project includes research on:

• Infinite-horizon Optimal Control and Economic Growth Theory,
  
• Optimal Research and Extraction Policy under Exhaustible Resources,
  
• Optimal Growth under Random Shock,
  
• Dynamic Optimization of Investment in Capital and Labor,
  
• Optimization of Resource Productivity, and
  
• Global Optimization.

The project is a collaboration between IIASA’s Advanced Systems Analysis and World Population Programs.

Last edited: 19 January 2015