Mathematical Modeling of Socio-Economic Transformations in the Resource Based Economy During the Process of Globalisation

Student: Sokolov Denis

Educational Programme: Applied Mathematics and Information Science (Bachelor)

Final Grade: 10

Year of Graduation: 2016

The current thesis deals with the socio-economic mechanism describing economic and social institutions changes in resource based economies depending on the external demand for domestic raw product. In the thesis we develop a game-theoretic model of a resource based economy and examine changes in the environment of international raw commodities demand is altering a socio-economic equilibrium. We show that in some cases in order to avoid any social conflict the optimal strategy for the ruling elite is to improve economic institutions while the resource rent flow decreases. Moreover in these cases, if resource rent flow increases, the elite will choose to block innovations. We propose a mechanism describing an inverse connection between the rent flow and the quality of economic institutions in resource based economy.

Full text (added May 27, 2016)

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