AMBIENTUM BIOETHICA BIOLOGIA CHEMIA DIGITALIA DRAMATICA EDUCATIO ARTIS GYMNAST. ENGINEERING EPHEMERIDES EUROPAEA GEOGRAPHIA GEOLOGIA HISTORIA HISTORIA ARTIUM INFORMATICA IURISPRUDENTIA MATHEMATICA MUSICA NEGOTIA OECONOMICA PHILOLOGIA PHILOSOPHIA PHYSICA POLITICA PSYCHOLOGIA-PAEDAGOGIA SOCIOLOGIA THEOLOGIA CATHOLICA THEOLOGIA CATHOLICA LATIN THEOLOGIA GR.-CATH. VARAD THEOLOGIA ORTHODOXA THEOLOGIA REF. TRANSYLVAN
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Authors: DANIEL METZ, ADRIAN VIOREL.
DOI: 10.24193/subbmath.2020.2.12
Published Online: 2020-06-05
Published Print: 2020-06-30
pp. 309-320
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ABSTRACT: In the present contribution, we propose and analyze a dynamical economic growth model for two rival countries that engage an arms race. Under natural assumptions, we prove that global solutions exist and discuss their asymptotic long-time behavior. The results of our stability analysis support the recurring hypothesis in Cold War political science that engaging in an arms race with a technologically superior and hence faster growing adversary has damaging economic consequences. Numerical findings illustrate and support our claims.
Key words: Solow-Swan model, Arms race, Asymptotic behavior
