Discrete dynamics in transitional economies
Summary: This paper traces the transition from planned command socialism to market capitalism and the accompanying complex nonlinear dynamics involved. Long wave chaotic hysteretic investment cycles emerge under socialism leading to crisis and breakdown. Macroeconomic collapse occurs with bifurcations and coordination structures during transition. During recovery, transitional cobweb labor market dynamics exhibit chaos, fractal basin boundaries between coexisting nonchaotic attractors, discontinuous phase transitions, strange attractors, and cascades of infinitely many period-doubling bifurcations.
scientific article; zbMATH DE number 1337767
scientific article