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O modelo de Solow-Swan na linguagem de dinâmica de sistemas: uma aplicação para o Brasil [The Solow-Swan model in the system dynamics language: an application for Brazil]

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  • Newton Paulo Bueno

    (UFV)

Abstract

This paper aims at contributing to the Brazilian economic growth discussion based on a new approach: system dynamics. Specifically, we intend to develop a systemic version of Solow-Swan model which allows the exploration of new angles of some important insights from recent Brazilian studies using that model and the assessment of the ability of the economy to grow in the near future. The reason for approaching the problem from that perspective is that it allows modeling economic growth as a complex dynamic process. We shall argue that studying the issue from the systemic perspective may open new avenues of research such as allowing the performance of more accurate sensitivity analysis and the obtention of more reliable forecasts for non observable parameters by means of calibration procedure.

Suggested Citation

  • Newton Paulo Bueno, 2010. "O modelo de Solow-Swan na linguagem de dinâmica de sistemas: uma aplicação para o Brasil [The Solow-Swan model in the system dynamics language: an application for Brazil]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 20(2), pages 287-310, May-Augus.
  • Handle: RePEc:nov:artigo:v:20:y:2010:i:2:p:287-310
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    More about this item

    Keywords

    system dynamics; macroeconomics; Solow-Swan model; Brazil;

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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