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Transitional dynamics in the Solow-Swan growth model with AK technology and logistic population change

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Author Info
Alberto BUCCI ()
Luca GUERRINI ()

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Abstract

This paper offers an alternative way, based on the logistic population growth hypothesis, to yield transitional dynamics in the standard AK model with exogenous savings rate. Within this framework, we show that the dynamics of the capital stock per person and its growth rate can be non-monotonic over time. Moreover, even in the presence of negative growth, the capital stock per-capita can converge to a strictly positive level (different from the initial level) when time goes to infinity. In general, the analysis allows us to conclude that the dynamics of the Solow-Swan model with linear technology and logistic population growth is richer than the one with exponential population growth.

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Publisher Info
Paper provided by Department of Economics University of Milan Italy in its series Departemental Working Papers with number 2008-44.

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Date of creation: 19 Dec 2008
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Handle: RePEc:mil:wpdepa:2008-44

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Related research
Keywords: Transitional dynamics; AK model; Economic growth; Population dynamics; Physical capital investment;

Find related papers by JEL classification:
O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
J10 - Labor and Demographic Economics - - Demographic Economics - - - General
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis

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This page was last updated on 2009-11-26.

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