Parametrical Regulation of Economic Growth Based on the Lucas Endogenous Model with Human Capital

Abstract

This paper presents the results of application of the parametrical regulation theory for economic growth of Kazakhstan national economy on the basis of the Lucas endogenous model with a personalized human capital. The parameters of the considered model are estimated using the statistical data of evolution of the Kazakhstan national economy. The parametric sensitivity of the model solution is surveyed. The dependence of optimal values of the criterion on unregulated economic parameters is prospected.