Acta mathematica scientia,Series B ›› 1994, Vol. 14 ›› Issue (2): 204-212.

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THE TURNPIKE IN DYNAMIC STOCHASTIC ECONOMIC GROWTH MODELS FOR STATE-CONTINGENT CAPITAL STOCKS

Chiang Chiaoning1, Yu Xiaopei1, He Sui1, Jian Ming2   

  1. 1. Central China Normal University, Wuhan 430070 China;
    2. Wuhan University, Wuhan 430072 China
  • Received:1992-10-27 Online:1994-06-25 Published:1994-06-25
  • Supported by:
    Supported by the National Science Foundation of China and the Natural Science Fund of Central China Normal University.

Abstract: A stochastic economic growth model may be transformed into a deterministic economic growth model with an infiaite dimentional Banach space of state-contingent capital stocks[6]. This paper proves that under the framework, the stochastic analogUes of the asymptotic turnpike theorems in the standard deterministic economic growth model[5] will continue tO hold if we assume that essentially smooth programs satisfy uniformly essentially dominant diagonal condition.

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