Financial sector is one of the most influential sectors in economic activities. Empirical and theoretical studies conducted in recent years have also confirmed the significant role of financial institutions in economic growth. Additionally, trade and financial liberalization policies have been particular concerned with strategic policies in developed and developing countries. According to dynam...

introduction rural areas have a considerable proportion of national land area and national population. hence, the economic performance of these regions has a substantial impact on national prosperity and productivity. however, even in developed countries like united states, the widening gap in economic performance between rural and urban areas has become a major challenge. scholars believe this...

In this paper we first describe the stochastic optimal control algorithm called ((OPTCON)). The algorithm minimizes an intertemporal objective loss function subject to a nonlinear dynamic system in order to achieve optimal value of control (or instrument) variables. Second as an application, we implemented the algorithm by the statistical programming system ((GAUSS)) to determine the optimal fi...