Nonlinear dynamics in a Solow model with delay and non-convex technology

摘要: In this paper we propose an extension to the classic Solow model by introducing a non-concave production function and time-to-build assumption. The capital accumulation equation is given delay differential that has two non-trivial stationary equilibria. By choosing time as bifurcation parameter, demonstrate ''high'' solution may lose its stability Hopf occurs when passes through critical values. applying center manifold theorem normal form theory, obtain formulas for determining direction of bifurcating periodic solutions. addition, Lindstedt-Poincare method used calculate bifurcated solution, bifurcation, motion resulting from bifurcation. found be supercritical. Finally, numerical simulations are justify validity theoretical analysis.