Coexisting Hidden and Self-Excited Attractors in an Economic Model of Integer or Fractional Order

Abstract

In this paper, the dynamics of an economic system with foreign financing, of integer or fractional order, are analyzed. The symmetry of the system determines the existence of two pairs of coexisting attractors. The integer-order version of the system proves to have several combinations of coexisting hidden attractors with self-excited attractors. Because one of the system variables represents the foreign capital inflow, the presence of hidden attractors could be of real interest in economic models. The fractional-order variant presents another interesting coexistence of attractors in the fractional-order space.