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A Generalized Solow‐Swan Model

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  • Donghan Cai
  • Hui Ye
  • Longfei Gu

Abstract

We set up a generalized Solow‐Swan model to study the exogenous impact of population, saving rate, technological change, and labor participation rate on economic growth. By introducing generalized exogenous variables into the classical Solow‐Swan model, we obtain a nonautomatic differential equation. It is proved that the solution of the differential equation is asymptotically stable if the generalized exogenous variables converge and does not converge when one of the generalized exogenous variables persistently oscillates.

Suggested Citation

  • Donghan Cai & Hui Ye & Longfei Gu, 2014. "A Generalized Solow‐Swan Model," Abstract and Applied Analysis, John Wiley & Sons, vol. 2014(1).
    • Handle: RePEc:wly:jnlaaa:v:2014:y:2014:i:1:n:395089
    DOI: 10.1155/2014/395089
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    References listed on IDEAS

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    3. David N. Weil & Oded Galor, 1999. "From Malthusian Stagnation to Modern Growth," American Economic Review, American Economic Association, vol. 89(2), pages 150-154, May.
    4. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
    5. Oded Galor, 2005. "The Demographic Transition and the Emergence of Sustained Economic Growth," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 494-504, 04/05.
    6. David E. Bloom & David Canning & Jaypee Sevilla, 2001. "Economic Growth and the Demographic Transition," NBER Working Papers 8685, National Bureau of Economic Research, Inc.
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