id author title date pages extension mime words sentence flesch summary cache txt cjfa-35471 Akan, Mustafa; Konovalova, Natalia OPTIMAL INCENTIVES FOR ECONOMIC GROWTH IN CENTRAL EUROPEAN COUNTRIES: A MICRO APPROACH 2021 23 .pdf application/pdf 23486 1181 68 = 0 optimal) developed by Pontryagin, Boltyanskii, Gamkrelidze and Mishechenko (1962), Hestenes (1966), Kamien and Schwartz (2012) among many others, we have; πœ‡πœ‡οΏ½(𝑑𝑑) ≀ 0 for 𝑑𝑑� ≀ 𝑑𝑑 ≀ 𝑑𝑑� implies: π‘π‘οΏ½οΏ½οΏ½π‘Ÿπ‘Ÿ(𝑑𝑑)οΏ½π‘Ÿπ‘ŸοΏ½(𝑑𝑑) ≀ β„Ž 𝐴 𝑓𝑓(𝑑𝑑)π‘π‘οΏ½οΏ½π‘Ÿπ‘Ÿ(𝑑𝑑)οΏ½ (4) (4) where Then using 𝑒𝑒𝑒𝑒𝑒𝑒 𝑒 𝑒𝑒𝑒𝑒𝑒𝑒, equation (1), and the conditions (the necessary condition to keep 𝐼𝐼𝑒𝑒𝑒𝑒 𝑒 𝐼 optimal) developed by Pontryagin, Boltyanskii, Gamkrelidze and Mishechenko (1962), Hestenes (1966), Kamien and Schwartz (2012) among many others, we have; πœ‡πœ‡οΏ½π‘’π‘’π‘’π‘’ ≀ 𝐼 for 𝑒𝑒� ≀ 𝑒𝑒 ≀ 𝑒𝑒� implies: 𝑐𝑐���𝑒𝑒𝑒𝑒𝑒𝑒�𝑒𝑒�𝑒𝑒𝑒𝑒 ≀ β„Ž + 𝑓𝑓𝑒𝑒𝑒𝑒𝑐𝑐��𝑒𝑒𝑒𝑒𝑒𝑒� (4) where 𝑓𝑓𝑒𝑒𝑒𝑒 𝑒 𝑖𝑖�𝑒𝑒𝑒𝑒 denotes the interest rate. So, the condition above will synthesize the periods where Then using 𝑒𝑒𝑒𝑒𝑒𝑒 𝑒 𝑒𝑒𝑒𝑒𝑒𝑒, equation (1), and the conditions (the necessary condition to keep 𝐼𝐼𝑒𝑒𝑒𝑒 𝑒 𝐼 optimal) developed by Pontryagin, Boltyanskii, Gamkrelidze and Mishechenko (1962), Hestenes (1966), Kamien and Schwartz (2012) among many others, we have; πœ‡πœ‡οΏ½π‘’π‘’π‘’π‘’ ≀ 𝐼 for 𝑒𝑒� ≀ 𝑒𝑒 ≀ 𝑒𝑒� implies: 𝑐𝑐���𝑒𝑒𝑒𝑒𝑒𝑒�𝑒𝑒�𝑒𝑒𝑒𝑒 ≀ β„Ž + 𝑓𝑓𝑒𝑒𝑒𝑒𝑐𝑐��𝑒𝑒𝑒𝑒𝑒𝑒� (4) where 𝑓𝑓𝑒𝑒𝑒𝑒 𝑒 𝑖𝑖�𝑒𝑒𝑒𝑒 denotes the interest rate. cache/cjfa-35471.pdf txt/cjfa-35471.txt