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

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  • Alberto BUCCI
  • Luca GUERRINI

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.

Suggested Citation

  • Alberto BUCCI & Luca GUERRINI, 2008. "Transitional dynamics in the Solow-Swan growth model with AK technology and logistic population change," Departmental Working Papers 2008-044, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    • Handle: RePEc:mil:wpdepa:2008-044
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    More about this item

    Keywords

    Transitional dynamics; AK model; Economic growth; Population dynamics; Physical capital investment;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O41 - Economic Development, Innovation, 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; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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