Model of Determination of the Dynamical Stability of Economic Systems

Elena Kostenko, Vitaly Kostenko, Volodymyr Kuznichenko, Volodymyr Lapshyn


The article proposes an algorithm to qualitatively determine the dynamic state of an
economic system. The base data for the algorithm are the current values of the parameter that
describes the deviation of the system from equilibrium. The method of phase planes is
partially used. The interpolation of the statistical data of the system parameter as a function of
time, as well as the parametric definition of the forces that act on the system, allows for the
determination of its potential functions and points of equilibrium. The characteristics of the
points of equilibrium, namely their extrema type, determine the areas of the systems stability
and instability. The use of standard computer programs allows for the analytical and graphical
(by analysing the form of the potential function) determination of the dynamic stability of a
system, by looking at the current parameters of the system. A demonstration of the algorithm
is given in an example.

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Copyright (c) 2015 Elena Kostenko, Vitaly Kostenko, Volodymyr Kuznichenko, Volodymyr Lapshyn

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Research in Applied Economics ISSN 1948-5433


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